Tarsons Products slides after Q1 PAT drops 18% YoY to Rs 20 cr

8 Aug 2022 , 02:51 PM

Revenue contribution from conventional business in Q1 FY22 was lower due to the demand from other life science industry on account of lockdowns and reduced activities, the company said. Domestic revenues for Q1 FY23 de-grew by 6% YoY while Exports revenue showed strong resilience and grew by 14% YoY in Q1 FY23. The companys profit before tax slipped 18.2% to Rs 27.26 crore in the first quarter as against Rs 33.34 crore recorded in the same period last year. Total expense jumped 16.65% YoY to Rs 44.06 crore in Q1 FY23. Cost of materials consumed was at Rs 17.84 crore (up 9.38% YoY) and employee expenses stood at Rs 8.26 crore (up 8.4% YoY). EBITDA dropped 15.3% to Rs 31.1 crore in Q1 FY23 as against Rs 36.8 crore posted in Q1 FY22. EBITDA margin declined to 45.4% in Q1 FY23 as compared to 53.2% reported in the corresponding quarter previous year. EBIDTA margins in Q1 FY23 were impacted on account of higher expenses due to traveling and participation in fare & exhibitions and higher investments in manpower to support future growth. Commenting on the Q1 FY23 performance of the company Rohan Sehgal, said, ?Revenue for Q1 FY23 was muted on account of higher share of Covid related revenues which contributed significantly in Q1 FY22. However, despite negligible contribution from covid related revenues in Q1 FY23 our company has been able to deliver revenues at par on YoY basis. We have been participating in various fare & exhibitions in the exports markets to mark our presence as a leading suppliers of labware products of global standards and quality.? He further added, ?We have been receiving positives responses & enquires and are optimistic of higher demand from international markets going forward. Our expansion of new facilities is on track and progressing well, we believe with the new facilities, addition of new product portfolio and trusted brand for ?TARSONS? in the life science community, we are optimistic about the new phase of growth of your company. Our focus remains on brand building, deliver quality products, automation of processes and improve export presence and we continue to work in that direction.? Tarsons Products is engaged in manufacturing and selling of plastic laboratory products and certain scientific instruments. The company caters to both domestic and international markets. Powered by Capital Market – Live News