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Net sales declined 22.35% year-on-year to Rs 1561.50 crore in Q4 FY23. Pre tax loss stood at Rs 297.04 crore in Q4 FY23 as against pre tax loss of Rs 27.56 crore in Q4 FY22.
In the year ended March 2023, the net loss reported was Rs 880.46 crore, up from net loss of Rs 208.60 crore in the previous year. Sales declined to Rs 6937.29 crore, down 5.09% from Rs 7309.50 crore in the previous year.
In the fiscal year 2022-23, the holding company experienced a loss of Rs 874.89 crore due to the highly volatile prices of raw materials, low demand from foreign markets, and an increase in energy prices. As of 31 March 2023, the company has accumulated losses of Rs 21,285.88 crore, and its current liabilities exceed its current assets by Rs 918.44 crore. However, with the improving market conditions and based on the holding company's projected cash flow, the financial results have been prepared on the assumption that the company will continue to operate.
The net cash generated from operating activities in FY23 was Rs 813.27 crore, representing a significant increase of 261.71% compared to the net cash generated in FY22, which was Rs 224.84 crore.
Mumbai-based Alok Industries is a textile manufacturing company.
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