DEE Development Engineers' Financial Results Show Negative Trends, MarketsMOJO Calls for 'Sell'
DEE Development Engineers, a smallcap company in the engineering industry, recently announced its financial results for the quarter ending June 2024. According to the data released on August 14, 2024, the stock call for DEE Development by MarketsMOJO is 'Sell'.
The financials for the quarter show a decline in key areas for the company. The Profit Before Tax (PBT) has fallen by 262.8% to Rs -3.28 crore, compared to the average PBT of the previous four quarters which was Rs 2.02 crore. This indicates a very negative trend in the near term for PBT.
Similarly, the Profit After Tax (PAT) has also seen a significant decline of 91.6% to Rs 0.43 crore, compared to the average PAT of the previous four quarters which was Rs 5.12 crore. This is another negative trend for the company in the near term.
The Net Sales for the quarter have also fallen by 10.0% to Rs 144.00 crore, compared to the average Net Sales of the previous four quarters which was Rs 160.02 crore. This shows a very negative trend in the near term for sales.
One concerning aspect in the financials is the Interest cost, which has increased by 17.11% (QoQ) and is at its highest in the last five quarters at Rs 9.65 crore. This signifies an increase in borrowings for the company.
The PBT for the quarter is at its lowest in the last five quarters at Rs -3.28 crore, indicating a negative trend in the near term. Additionally, the Non Operating Income for the quarter is 637.70% of the PBT, which suggests that the company's income from non-business activities is high and not a sustainable business model.
Based on these financial results, MarketsMOJO has given a 'Sell' call for DEE Development Engineers. It is important for investors to carefully analyze the company's financials and make informed decisions.
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