Kolte Patil Developers Reports Mixed Financial Performance in Q1 2024

Kolte Patil Developers, a smallcap real estate company, has recently declared its financial results for the quarter ending June 2024. According to the data, the company has seen a negative financial performance with a score of -14, which has improved from -19 in the last three months.

Despite the overall negative performance, there are some positive aspects to note. The company's Profit Before Tax (PBT) has shown a significant growth of 130.8% compared to the average PBT of the previous four quarters. Similarly, the Profit After Tax (PAT) has also shown a growth of 135.9% compared to the average PAT of the previous four quarters. Additionally, the company's cash and cash equivalents have reached a high of Rs 410.02 crore in the last six half-yearly periods, indicating an improvement in short-term liquidity.

However, there are some areas of concern for Kolte Patil Developers. The company's operating cash flow has been consistently falling in the last three years, with the latest figure at Rs -111.01 crore. The net sales have also shown a negative trend, with a growth rate of -36.62% year on year. The company's debt-equity ratio has also been increasing in the last five half-yearly periods, indicating a higher reliance on borrowing to fund its operations. The interest cost has also risen, which could be a cause for concern.

Moreover, the company's non-operating income is significantly high, accounting for 56.85% of the PBT. This could be due to income from non-business activities, which may not be sustainable in the long run. The debtors turnover ratio has also slowed down, indicating a delay in settling debts.

In conclusion, Kolte Patil Developers has shown a mixed financial performance in the quarter ending June 2024. While there are some positive aspects, there are also areas of concern that the company needs to address. Investors should carefully consider these factors before making any investment decisions.