During its meeting on May 6, 2024, the Board of Directors of MosChip Technologies reviewed and approved, among other matters, the Audited Standalone and Consolidated Financial Results of the Company for the quarter (Q4) and year ending on March 31, 2024.
Statement of consolidated financial results of MosChip Technologies for the quarter ended March 31, 2024
| All Numbers are in Rs Lakhs except EPS | Quarter Ended 31-03-2024 | Quarter Ended 31-12-2023 | Quarter Ended 31-03-2023 |
|---|---|---|---|
| Total Income | 7,600.14 | 9,004.27 | 5,399.68 |
| Total Expenses | 7,441.28 | 8,757.64 | 5,247.54 |
| Profit/ (loss) before tax | 158.86 | 246.63 | 152.14 |
| Net Profit after tax | 86.56 | 218.72 | 152.09 |
| EPS( basic ) | 0.04 | 0.12 | 0.09 |
MosChip Technologies Consolidated YOY Financial performance (FY24 vs FY23 ) :
Revenue from operations rose from Rs.198.35 Crores to Rs.293.91 Crores, marking a 48% increase. EBITDA climbed from Rs.29.36 crores to Rs.36.21 crores, representing a 23% increase (see Note 1). Profit Before Tax (PBT) surged from 6.2 crores to 11.3 crores, marking an 82% increase. Profit After Tax (PAT) soared from Rs.6.1 crores to Rs.9.9 crores, demonstrating a 62% increase.
MosChip Technologies Consolidated QOQ Financial performance ( Q4FY24 vs Q3FY24 ) :
Revenue from operations declined from Rs.89.63 crores to Rs.75.43 Crores. In Q3FY24, the company registered revenue of Rs.18 crores due to a successful tape out, which positively impacted the quarter’s revenue. The company’s business nature frequently entails high-value and milestone-based contracts, leading to revenue spikes during quarters with tape-outs. EBITDA decreased from Rs.9.21 crores to Rs.7.82 crores, maintaining the same EBITDA to Revenue ratio as Q3 (10.3%).
Looking ahead, 85% expect industry revenue growth in 2024, up 21% from last year. Global semiconductor sales are forecasted to rise by 13.1% to $588 billion in 2024, aiming for $1 trillion by 2030. R&D spending projections remain strong, with 69% anticipating an increase. Despite a tough 2023, global sales are expected to rebound to $588 billion in 2024, surpassing 2022’s record. Memory chip market swings drove much of the fluctuation, dropping 31% in 2023 but expected to recover in 2024. Excluding memory, the rest of the industry saw a 3% decline in 2023.