Maharashtra Seamless Reports Mixed Financial Results for Q2 2024
Maharashtra Seamless, a midcap company in the steel/sponge iron/pig iron industry, recently declared its financial results for the quarter ending September 2024. The stock call by MarketsMOJO for the company is 'Strong Sell'.
According to the financials, the company has seen a negative performance in the second quarter of the fiscal year 2024-25, with a score of -8, which has improved from -11 in the last three months. However, there are some positive aspects to the company's financials. The operating cash flow for the year is the highest at Rs 1,041.42 crore and has grown consistently over the last three years. This indicates that the company has generated higher cash revenues from its business operations.
On the other hand, there are some areas that are not performing well for Maharashtra Seamless. The profit before tax less other income (PBT) for the quarter has fallen by -33.24% year on year, at Rs 201.08 crore. The net sales for the quarter have also fallen by -15.85% year on year, at Rs 1,291.81 crore. Similarly, the profit after tax (PAT) for the quarter has fallen by -12.1% year on year, at Rs 220.08 crore. The non-operating income for the quarter is the highest in the last five quarters, at Rs 90.73 crore. However, this increase in income from non-business activities may not be sustainable.
Overall, the financial results for the quarter ending September 2024 for Maharashtra Seamless show a mixed performance. While the company has seen a negative trend in some areas, it has also shown growth in others. Investors should carefully consider these factors before making any investment decisions.
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