Acknit Industries (BOM:530043) Receivables Turnover : 2.03 (As of Mar. 2024)

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What is Acknit Industries Receivables Turnover?

The Receivables Turnover ratio measures the number of times a company collects its average accounts receivable balance. It is calculated as Revenue divided by average Accounts Receivable. An efficient company has a higher accounts receivable turnover ratio while an inefficient company has a lower ratio. Acknit Industries's Revenue for the three months ended in Mar. 2024 was ₹684 Mil. Acknit Industries's average Accounts Receivable for the three months ended in Mar. 2024 was ₹337 Mil. Hence, Acknit Industries's Receivables Turnover for the three months ended in Mar. 2024 was 2.03.

Acknit Industries Receivables Turnover Historical Data

The historical data trend for Acknit Industries's Receivables Turnover can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Acknit Industries Receivables Turnover Chart

Acknit Industries Annual Data

Trend

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Receivables Turnover

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6.20

7.11

7.45

8.05

7.10

Acknit Industries Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Receivables Turnover	Get a 7-Day Free Trial															1.86	1.75	2.07	1.71	2.03

Competitive Comparison of Acknit Industries's Receivables Turnover

For the Footwear & Accessories subindustry, Acknit Industries's Receivables Turnover, along with its competitors' market caps and Receivables Turnover data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Acknit Industries's Receivables Turnover Distribution in the Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Acknit Industries's Receivables Turnover distribution charts can be found below:

* The bar in red indicates where Acknit Industries's Receivables Turnover falls into.

Acknit Industries Receivables Turnover Calculation

Receivables Turnover measures the number of times a company collects its average accounts receivable balance.

Acknit Industries's Receivables Turnover for the fiscal year that ended in Mar. 2024 is calculated as

	Receivables Turnover (A: Mar. 2024 )
=	Revenue	/	Average Total Inventories
=	Revenue (A: Mar. 2024 )	/ (	(Accounts Receivable (A: Mar. 2023 )	+	Accounts Receivable (A: Mar. 2024 ))	/	count )
=	2206.573	/ (	(284.326	+	336.901)	/	2 )
=	2206.573	/	310.6135
=	7.10

Acknit Industries's Receivables Turnover for the quarter that ended in Mar. 2024 is calculated as

	Receivables Turnover (Q: Mar. 2024 )
=	Revenue	/	Average Total Inventories
=	Revenue (Q: Mar. 2024 )	/ (	(Accounts Receivable (Q: Dec. 2023 )	+	Accounts Receivable (Q: Mar. 2024 ))	/	count )
=	684.459	/ (	(0	+	336.901)	/	1 )
=	684.459	/	336.901
=	2.03

Acknit Industries (BOM:530043) Receivables Turnover Explanation

An efficient company has a higher accounts receivable turnover ratio while an inefficient company has a lower ratio. This metric is commonly used to compare companies within the same industry to check whether they are on par with their competitors.

Acknit Industries Receivables Turnover Related Terms

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Acknit Industries (BOM:530043) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Manufacturing - Apparel & Accessories » Acknit Industries Ltd (BOM:530043) » Definitions » Receivables Turnover

Comparable Companies

Traded in Other Exchanges

N/A

Address

Ecostation, Block - BP, Plot No.7, Sector- V, 5th Floor, Suit No. 504, Salt Lake City, Kolkata, WB, IND, 700091

Website

https://www.acknitindia.com

Acknit Industries Ltd manufactures all types of garments, gloves, and other apparel products. The company operates through four segments namely Hand gloves, Garments, Other & traded items, and Power generation segment. Most of the firm's revenue gets derived from the Hand Gloves segment which consists of cut and sewn dipped gloves, seamless dipped gloves, Canadian/ welder/ driver gloves, Cut resistant gloves, heat resistant gloves, and kelvlar leather gloves.

Acknit Industries (BOM:530043) Headlines

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