Multibase India's Q1 financials show mixed results, with concerns over sales and reliance on non-business income.
Multibase India, a microcap company in the petrochemical industry, 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, Multibase India's performance for the quarter has been flat, with a score of -1 compared to 2 in the previous quarter. However, there are some positive aspects to the company's financials. The Profit After Tax (PAT) for the quarter has grown by 29.8% to Rs 3.95 crore, which is higher than the average PAT of the previous four quarters at Rs 3.04 crore. This indicates a positive trend in the near term for the company's profits.
On the other hand, there are also some concerning factors in Multibase India's financials. The Net Sales for the quarter have fallen by -14.0% to Rs 14.65 crore, which is lower than the average Net Sales of the previous four quarters at Rs 17.03 crore. This shows a very negative trend in the near term for the company's sales. Additionally, the Non Operating Income for the quarter is 46.40% of the Profit Before Tax (PBT), indicating a high reliance on non-business activities for income. This may not be a sustainable business model for the company.
It is also worth noting that the Non Operating Income for the quarter is the highest in the last five quarters at Rs 2.45 crore. This increase in income from non-business activities may not be sustainable for the company in the long run.
Overall, Multibase India's financial performance for the quarter ending March 2024 has been mixed, with some positive and negative aspects. Investors should carefully consider these factors before making any decisions regarding the company's stock.
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