Chemcon Speciality Chemicals' Q3 financials show mixed performance, with some positive aspects and areas of concern
Chemcon Speciality Chemicals, a microcap company in the chemicals industry, recently declared its financial results for the quarter ending September 2024. The stock call by MarketsMOJO for Chemcon Speciality Chemicals is 'Sell'.
The company's financial performance for the quarter was flat, with a score of -1 compared to -15 in the previous quarter. However, there are some positive aspects to the financials. The Profit Before Tax less Other Income (PBT) for the quarter was Rs 5.03 crore, showing a growth of 65.5% over the average PBT of the previous four quarters. The Operating Profit (PBDIT) for the quarter was also the highest in the last five quarters at Rs 8.52 crore, indicating a positive trend in the near term. The Operating Profit Margin for the quarter was also the highest in the last five quarters at 16.20%, showing an improvement in the company's efficiency.
The company's profitability has also improved, with the Profit Before Tax less Other Income (PBT) and Profit After Tax (PAT) for the quarter being the highest in the last five quarters at Rs 5.03 crore and Rs 6.33 crore respectively. The Earnings per Share (EPS) for the quarter was also the highest in the last five quarters at Rs 1.73, indicating an increase in profitability and higher earnings for shareholders.
However, there are some areas of concern in the financials. The Net Sales for the quarter was Rs 52.60 crore, showing a decline of -9.8% over the average Net Sales of the previous four quarters. The Non Operating Income for the quarter was also high at 41.03% of the Profit Before Tax (PBT), indicating a reliance on non-business activities for income.
Overall, Chemcon Speciality Chemicals has shown a mixed performance in the quarter ending September 2024. While there are some positive aspects to the financials, there are also some areas of concern that need to be addressed. Investors are advised to carefully evaluate the company's financials before making any investment decisions.
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