Man Industries' Q1 financial results show decline in performance, investors advised to hold
Man Industries (India), a smallcap company in the iron and steel 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, Man Industries has seen a negative performance in the quarter, with a score of -10 compared to 1 in the previous three months. This decline can be attributed to several factors.
The company's Profit Before Tax (PBT) has fallen by 67.3% to Rs 7.41 crore, compared to the average PBT of the previous four quarters which was Rs 22.67 crore. This indicates a very negative trend in the near term. Similarly, the Profit After Tax (PAT) has also fallen by 27.4% to Rs 19.05 crore, compared to the average PAT of the previous four quarters which was Rs 26.25 crore.
Man Industries' ability to manage interest payments has also deteriorated, with the Operating Profit to Interest ratio being the lowest in the last five quarters. The company's interest cost has also risen by 27.97% in the preceding nine months period, indicating increased borrowings.
The company's net sales have also seen a decline of 5.0% to Rs 748.70 crore, compared to the average net sales of the previous four quarters which was Rs 788.03 crore. This shows a negative trend in the near term. The Operating Profit (PBDIT) has also been the lowest in the last five quarters, further indicating a negative trend.
Man Industries' efficiency has also deteriorated, with the Operating Profit Margin being the lowest in the last five quarters at 5.04%. The company's income from non-business activities is also high, at 73.05% of the Profit Before Tax, which is not a sustainable business model.
Overall, the financial results for the quarter ending June 2024 have not been positive for Man Industries. Investors are advised to hold their stock and monitor the company's performance closely in the coming months.
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