Diamines & Chemicals Reports Decline in Q3 Results
Diamines & Chemicals, a microcap company in the chemicals industry, recently declared its financial results for the quarter ended September 2023. According to the analysis by MarketsMOJO, the stock call for the company is 'Sell'.
In the quarter ended September 2023, Diamines & Chemicals saw a decline in net sales by 37.16% compared to the previous quarter. The consolidated net profit also decreased by 51.36% in the same period. The operating profit (PBDIT) excluding other income also saw a decline of 47.86%. However, the company's interest remained stable.
The operating profit margin (excluding other income) also saw a decline in the quarter ended September 2023 compared to the previous quarter. This indicates a decrease in the company's efficiency.
On a positive note, Diamines & Chemicals has been able to settle its debtors faster, with the debtors turnover ratio being the highest in the last five half-yearly periods.
However, there are some areas of concern for the company. The net sales in the quarter ended September 2023 have fallen by 26.17% compared to the same period last year. The profit before tax (PBT) and profit after tax (PAT) have also seen a significant decline of 73.14% and 72.4% respectively.
The company's operating profit margin, net sales, and PBT have been consistently declining in the last five quarters. The earnings per share (EPS) have also decreased, indicating a decline in profitability for shareholders.
In terms of liquidity, Diamines & Chemicals has the lowest cash and cash equivalents in the last six half-yearly periods. The company has also been distributing lower dividends and a lower proportion of profits as dividends in the last five years.
Overall, the financial performance of Diamines & Chemicals in the quarter ended September 2023 has been very negative. The company's efficiency and profitability have declined, and there are concerns about its liquidity and dividend distribution. Investors should carefully consider these factors before making any investment decisions.
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