Kanishk Steel's Financial Results Show Decline
Kanishk Steel Industries, a microcap company in the iron and steel industry, recently declared its financial results for the quarter ended September 2023. According to the analysis by MarketsMOJO, the stock call for Kanishk Steel is 'Strong Sell'.
In the quarter ended September 2023, Kanishk Steel saw a decline in its net sales by -16.25% compared to the previous quarter. The standalone net profit also saw a decrease of 65.25% in the same period. The operating profit (PBDIT) excluding other income also saw a decline of -25.72%. The interest expenses also increased by 30.56% in the quarter.
The operating profit margin (excluding other income) has also fallen from the previous quarter. This negative financial performance has resulted in a decrease in the score of Kanishk Steel from -2 to -11 in the last 3 months.
The financials for the quarter ended September 2023 highlight some areas that are not working for Kanishk Steel. The profit after tax (PAT) for the half-yearly period has decreased by 67.31% compared to the same period last year. The net sales for the quarter have also fallen by -13.9% compared to the average net sales of the previous four quarters. This is the lowest net sales in the last five quarters for the company. The non-operating income for the quarter is also high, which is not a sustainable business model.
Overall, the financial results for the quarter ended September 2023 show a negative trend for Kanishk Steel. Investors should carefully consider these factors before making any investment decisions.
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