Banaras Beads dives 3% post Q1FY22 financial earnings

Comparing Sales in FY 2019-20 were 23.56 cr whereas in FY 2020-21 were 19.42 cr.

Jul 30, 2021 12:07 IST India Infoline News Service

Banaras Beads Ltd has reported its financial results for the period ended June 30, 2021.

Financial Results (Q1 FY22) - YoY Comparison
  • Total income stood at Rs3.88cr during the period ended June 30, 2021 as compared to Rs4.31cr during the period ended June 30, 2020.
  • Net profit stood at Rs0.3170cr as against net profit of Rs0.6091cr for the period ended June 30, 2020.
  • The company has reported EPS of Rs.0.48 as compared to Rs.0.92 for the period ended June 30, 2020.
CEO & Managing Director Siddharth Gupta said, "we are in the 2nd year of Covid-19 Pandemic, my heart goes out to all those who have suffered loss & personal grief, & those who continued to soldier on bravery to keep their family safe, organization functioning & economy running against all the odds.

In spite being difficult year for the world your company has shown strong sustainability & proven that company is well prepared to face the challenges, given its strong fundamental, resilience & most importantly sheer determination of the team to make positive things happen & emerged victorious in the most daunting times

Comparing Sales in FY 2019-20 were 23.56 cr whereas in FY 2020-21 were 19.42 cr. In other words, 2020-21 effective operation cycle was only 8-9 months as situation of lockdown was there for 3- 4 months. Since lockdown was there all over the world lot of overseas companies / buyers was not operating at full strength.

Looking at the trend we will surely be far ahead in FY 2021-22 in comparison with past 3- 4 financial years. The company has added many new products and added New Retail Chain stores in its portfolio. We are happy to inform that our products will be soon sold in more than 5000 retail stores. We are also constantly working on doing forward & backward integration in our product line. Handicraft is one the most important sectors of SME and we are working on doing lot of value additions on our products. This has created a major impact on our buyers.

We are extremely optimistic that the company is path of success, if this Trend continues and no adverse situation occurs the company should outperform year on year and stay on path of growth."

At around 12:25 PM, Banaras Beads was trading at Rs87.50 apiece down by Rs2.6 or 2.89% on Sensex.

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