I G Petrochemicals' Financial Results Show Mixed Performance in Q1 FY25
This could impact the company’s financial stability in the long run.
I G Petrochemicals, a smallcap company in the chemicals industry, recently declared its financial results for the quarter ending June 2024. The company’s stock has been given a ‘Hold’ call by MarketsMOJO.
According to the financials, I G Petrochemicals has shown a flat performance in the quarter, with a slight improvement in its score from -16 to -5 in the last three months. However, there are some positive aspects to the company’s financials.
The Profit Before Tax (PBT) has seen a significant growth of 532.4% at Rs 36.11 crore, compared to the average PBT of the previous four quarters at Rs 5.71 crore. The Profit After Tax (PAT) has also shown a growth of 254.5% at Rs 35.02 crore, compared to the average PAT of the previous four quarters at Rs 9.88 crore. The Net Sales for the quarter were at its highest in the last five quarters at Rs 585.14 crore, indicating a positive sales trend. The Operating Profit (PBDIT) was also at its highest in the last five quarters at Rs 61.77 crore, showing a positive trend.
However, there are some areas of concern for I G Petrochemicals. The interest cost has increased by 27.82% in the last half-yearly period, which could indicate increased borrowings and impact the company’s financial stability in the long run. The Debt to Equity Ratio has also deteriorated from 0.3 to 0.4 in the previous quarter, indicating a higher reliance on debt to finance operations, which could lead to higher interest costs and financial risk in the future.
Overall, I G Petrochemicals has shown a mixed performance in the quarter ending June 2024. While there are some positive aspects to its financials, there are also some areas of concern that investors should keep in mind.
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