Kanoria Energy & Infrastructure Reports Negative Performance in Q1 2024, Receives 'Sell' Rating from MarketsMOJO

Kanoria Energy & Infrastructure, a microcap company in the cement industry, has 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, Kanoria Energy has seen a negative performance in the quarter, with a score of -11, which has improved from -13 in the last three months. This indicates that the company's financial health has deteriorated in the recent quarter.

One of the major factors contributing to this negative performance is the decline in Profit Before Tax (PBT) less Other Income, which has fallen by -35.70% year on year. This trend is expected to continue in the near term. Similarly, the Profit After Tax (PAT) has also shown a decline of -28.25% year on year in the half-yearly report. The company's net sales have also decreased by -9.07% year on year in the quarterly report, indicating a negative trend in the near term.

Another concerning aspect is the Debt-Equity Ratio, which is at its highest in the last five half-yearly periods at 1.37 times. This suggests that the company is relying more on borrowing to fund its operations, which may lead to a stressed liquidity situation.

Overall, the financial results for the quarter ending March 2024 have not been favorable for Kanoria Energy & Infrastructure. Investors are advised to take note of the negative trends and consider the 'Sell' call given by MarketsMOJO before making any investment decisions.