Godrej Industries announced Q4 results, reported a loss of Rs.25.34 Cr

Godrej Industries Limited (GIL) announced its Q4 results today. These financial results were prepared following the Indian Accounting Standards (IND AS) and included a detailed review of the company’s assets, liabilities, and cash flow statements.

Consolidated Financial Results

The financial performance of the company in the current year has seen a decline across key metrics compared to the previous year. Revenue dropped by 5.9% y-o-y, from Rs.4,852 crore to Rs.4,567 crore, indicating a decrease in the company’s top-line growth. Moreover, the company reported a loss of Rs.25.34 crore in the current year, a significant reversal from the profit of Rs.562.16 crore in the previous year. The EBITDA also experienced a notable decline, down by 23.6% year-on-year from Rs. 599.87 crore to Rs. 458.05 crore. Furthermore, the company’s EBITDA margin decreased from 12.4% to 10% year-on-year

Commitment to Transparency

The Board’s decisions and the auditor’s report were made available for public record, emphasizing GIL’s commitment to transparency and compliance with regulatory requirements. This thorough approach underscores the company’s dedication to maintaining high standards in financial reporting and corporate governance.

Internal Controls

In their report, Kalyaniwalla & Mistry LLP highlighted the strong internal controls maintained by GIL, its subsidiaries, associates, and joint ventures. They emphasized the adherence to ethical and professional standards during the audit process, ensuring the accuracy and completeness of the financial records.

Conclusion: In conclusion, Godrej Industries Limited’s Q4 FY24 financial results revealed a challenging landscape marked by marginal revenue growth, significant profit decline, and rise in expenses. The company’s commitment to transparency and robust internal controls, highlighted in the auditor’s report, underscores its dedication to maintaining integrity and navigating challenges.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.