Clear copy of Results September 2023
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BMB Music & Magnetics Ltd submitted its unaudited financial results for the quarter and half year ended September 30, 2023. Total income for H1 FY24 fell sharply to Rs 8 lakh from Rs 14 lakh in H1 FY23, a drop of about 43%. Profit after tax for H1 FY24 nearly halved to Rs 3.13 lakh from Rs 6.91 lakh, with EPS declining to Rs 0.05 from Rs 0.11. The balance sheet shows total assets shrinking to Rs 47.58 lakh from Rs 93.44 lakh, and the company carries negative other equity of Rs -37.04 lakh, indicating accumulated losses that exceed its share capital. On a positive note, operating cash flow turned strongly positive at Rs 28.46 lakh during the period. The statutory auditor (Vinod Singhal & Co LLP) issued an unqualified limited review report with no qualifications or concerns raised.
Sharply declining revenues and profits, combined with negative net worth, signal ongoing business stress and could weigh negatively on the stock. However, the clean auditor report and improved operating cash flow provide some reassurance that the business remains operational, albeit at a much smaller scale.