Deep Polymers Reports Mixed Financial Results for Q1 2024, Debt-Equity Ratio at 5-Year Low

Deep Polymers, a microcap chemical company, recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Sell' call by MarketsMOJO.

According to the financial report, Deep Polymers has shown a negative performance in the quarter, with a score of -10. However, this is an improvement from the previous quarter's score of -18.

One of the positive aspects of the company's financials is its debt-equity ratio, which is at its lowest in the last five half-yearly periods at 0.42 times. This indicates that the company has been reducing its borrowing in comparison to its equity capital.

On the other hand, the company's interest cost has increased by 105.83% in the preceding nine months period, standing at Rs 2.47 crore. This suggests that the company has taken on more borrowings, which could be a cause for concern.

Additionally, Deep Polymers' profit after tax (PAT) for the half-yearly period has decreased by 44.47% year on year, standing at Rs 2.71 crore. This indicates a negative trend in the company's near-term profitability.

Overall, Deep Polymers' financial performance for the quarter ending March 2024 has been mixed, with some positive and negative aspects. Investors should carefully consider these factors before making any investment decisions.