Astron Paper & Board Mill Reports Negative Financial Results for Q3 2024
Astron Paper & Board Mill, a microcap company in the paper and paper products industry, recently announced its financial results for the quarter ending September 2024. The stock has been given a 'Strong Sell' call by MarketsMOJO.
The company's financial performance for the quarter has been very negative, with a score of -23, a decrease from -19 in the last three months. However, there are some positive aspects to the financials based on the Sep 2024 report.
One of the strengths of Astron Paper is its Debtors Turnover Ratio, which is the highest at 7.56 times in the last five half yearly periods. This indicates that the company has been able to settle its debtors faster.
On the other hand, there are some areas of concern for the company. The net sales for the quarter have fallen by -55.93% year on year, indicating a very negative trend in the near term. The Profit Before Tax (PBT) and Profit After Tax (PAT) have also seen a significant decline of -374.32% and -377.1% respectively, compared to the same quarter last year.
The Debt-Equity Ratio for the company has been consistently increasing in the last five half yearly periods, reaching its highest at 0.65 times. This suggests that the company is relying more on borrowing to fund its operations, which may lead to a stressed liquidity situation.
Other concerning factors include the lowest net sales in the last five quarters, rising interest costs, and a decrease in cash and cash equivalents in the last six half yearly periods.
Overall, the financial results for the quarter ending September 2024 for Astron Paper & Board Mill have been negative, with some areas of strength and areas of concern. Investors should carefully consider these factors before making any investment decisions.
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