Manaksia's Q1 Financial Results Show Negative Performance, Debtors Turnover Ratio Improves

Manaksia, a microcap company in the aluminium industry, recently declared its financial results for the quarter ending March 2024. According to MarketsMOJO, the stock call for Manaksia is 'Sell'. The company has seen a very negative financial performance in the quarter, with a score of -24, a decrease from -16 in the previous 3 months.

However, there are some positive aspects to Manaksia's financials for the quarter. The company has been able to settle its debtors faster, with a debtors turnover ratio of 14.00 times, the highest in the last five half yearly periods.

On the other hand, there are some concerning factors in Manaksia's financials for the quarter. The net sales have fallen by -40.1% compared to the average net sales of the previous four quarters. The profit before tax less other income (PBT) has also decreased by -43.8% compared to the average PBT of the previous four quarters. The profit after tax (PAT) has also seen a decline of -24.7% compared to the average PAT of the previous four quarters.

The company's net sales, operating profit, and PBT have all been at their lowest in the last five quarters, indicating a negative trend in the near term. Additionally, the company's non-operating income is 66.96% of its PBT, which may not be a sustainable business model. The company's cash and cash equivalents have also decreased, indicating a deteriorating short-term liquidity situation. The debt-equity ratio is also at its highest in the last five half yearly periods, indicating that the company is borrowing more to fund its operations.

It is worth noting that the company's non-operating income has increased significantly in the last five quarters, but this may not be a sustainable trend. Overall, Manaksia's financial performance for the quarter has been negative, and investors should carefully consider these factors before making any investment decisions.