Kallam Textiles Q4 results disappoint as net sales decline

Kallam Textiles reported a disappointing performance for the quarter ending March 2024. Net sales fell significantly by 44.67 per cent year-on-year to Rs 61.94 crore, compared to Rs 111.96 crore in the same period last year. The company also incurred a net loss of Rs 10.98 crore, reflecting a decrease of 40.19 per cent from the Rs 7.83 crore loss reported in March 2023.

EBITDA, a measure of profitability before financing and taxes, took a major hit, turning negative at Rs 2.19 crore in March 2024. This represents a steep decline of 131.83 per cent compared to Rs 6.88 crore in the previous year's corresponding quarter.

The company's stock price on the BSE reflects the overall negative performance. Kallam Spinning shares closed at Rs 7.94 on May 29, 2024, and have delivered negative returns of 11.58 per cent and 13.41 per cent in the last 6 and 12 months, respectively.