Singer India Limited announces financial results for Q2 FY2021-22

Singer India Limited has announced the financial results for the period ended September 30, 2021.

• Q2 FY 22 Revenue at Rs. 127.7 crores increased by 20% over the prior year. HY FY 22 revenue grew by 28% over the prior year.
• Cumulative Net profit for HY FY 22 at Rs. 2.67 crores higher by 77% over the prior year.
  
  The revenue of the Company also grew sequentially in the current year - 74% in Q2 against Q1 post second wave of the Covid pandemic in Q1.
  
  The trend of input and other related cost increases continued even in the current quarter. This impacted the variable margins but was partly offset by other cost saving initiatives elsewhere in the business.
  
  The Company has zero bank borrowings as at 30th September 2021.
  
  Rajeev Bajaj, Managing Director, Singer India Limited commented that: "In view of the improved consumer sentiments seen post Covid, the management is aggressively working on accelerating the growth rate of the Company's businesses both in sewing machines and home applainces with greater investment in key products, organization strengthening, marketing activities and streamlining the product lines keeping emphasis on improving the working capital ratios and the profitability. The challenges of increasing commodity prices remains, recent and further price increases are being taken to offset the cost increases which was being withheld until Diwali Festival.
  
  We remain thankful to all employees and all other associates who stood with us during this difficult period."
  
  Shares of SINGER INDIA LTD. was last trading in BSE at Rs. 77.95 as compared to the previous close of Rs. 77.90. The total number of shares traded during the day was 63101 in over 344 trades.
  
  The stock hit an intraday high of Rs. 79.00 and intraday low of 77.10. The net turnover during the day was Rs. 4931342.00.

  Source : Equity Bulls

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  SINGERINDIALTD INE638A01035 Q2FY22 ResultUpdate