Board approves Dividend
TEXINFRA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Texmaco Infrastructure & Holdings Ltd reported a strong turnaround with standalone PAT of Rs. 998.07 Lakhs vs a loss of Rs. 855.70 Lakhs in the prior year. Consolidated PAT stood at Rs. 1,116.44 Lakhs vs a loss of Rs. 695.40 Lakhs previously. Revenue from operations grew 25% YoY on standalone basis (Rs. 1,144.50 Lakhs vs Rs. 915.69 Lakhs) and 10% on consolidated basis. However, standalone operating cash flow was negative at Rs. 150.62 Lakhs due to a large Rs. 1,391.43 Lakhs fair value gain on current investments being a non-cash item. Other Comprehensive Income remained deeply negative at Rs. 26,765.78 Lakhs (consolidated) largely due to mark-to-market losses on investments. The Board recommended a dividend of 15% (Rs. 0.15 per share) subject to shareholder approval. Auditors issued an unmodified opinion.
The company has returned to profitability after heavy losses, but the negative operating cash flow and massive accumulated losses (Other Equity stood at negative Rs. 25,672.75 Lakhs on consolidated basis) raise concerns about financial health despite the profit improvement.