How has been the historical performance of the Orissa Minerals?
Orissa Minerals has shown fluctuating historical performance, with net sales increasing to Rs 82.28 crore in March 2024 from Rs 35.53 crore in March 2023, and a net profit of Rs 2.82 crore, recovering from a loss of Rs 16.54 crore the previous year. Despite improvements in sales and profitability, total assets and cash flow from operations remain negative.
Answer:The historical performance of Orissa Minerals shows a fluctuating trend over the years, with significant changes in revenue and profitability.Breakdown:
In the fiscal year ending March 2024, Orissa Minerals reported net sales of Rs 82.28 crore, a notable increase from Rs 35.53 crore in March 2023, although slightly down from Rs 82.68 crore in March 2022. The total operating income for March 2024 was also Rs 82.28 crore, reflecting the same trend. The company experienced a total expenditure of Rs 59.21 crore in March 2024, up from Rs 47.05 crore in the previous year, leading to an operating profit (PBDIT) of Rs 30.17 crore, a recovery from a loss of Rs 2.10 crore in March 2023. However, the profit before tax remained negative at Rs -5.31 crore for March 2024, though it improved from Rs -27.22 crore in March 2023. The net profit for March 2024 was Rs 2.82 crore, a positive turnaround from a loss of Rs 16.54 crore in the previous year. The company's total assets decreased to Rs 154.62 crore in March 2024 from Rs 216.25 crore in March 2023, while total liabilities also fell to Rs 154.62 crore from Rs 216.25 crore. The cash flow from operating activities remained negative at Rs -25.00 crore for March 2024, but cash flow from investing activities showed a positive inflow of Rs 54.00 crore. Overall, the financial performance indicates a gradual recovery, with improvements in sales and profitability metrics despite ongoing challenges.
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