Tega Industries’ Q2 and H1 FY25—going through a rough patch?
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Geopolitical issues caused shipment delays and order deferments from customers. The company expects these issues to continue until they are resolved.
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Delays in receiving payments, inspection reports, and dispatch clearance certificates from some customers also impacted group sales.
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Contract accounting led to a one-time expense of INR 17 crores to INR 20 crores in Q2. This expense involved charging off consumables and installation expenses for certain projects, but the company expects to realize the benefits over a longer period.
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Increased inventory levels as of September 30, 2024. This could bee attributed to shipment delays.
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Depreciation costs nearly doubled year-on-year to INR 26 crores in Q2. The company expects this to be the quarterly number going forward and to increase further depending on capital expenditures.
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