Nahar Spinning Mills Reports Decline in Performance for Q3 2024
Nahar Spinning Mills, a microcap textile company, recently announced its financial results for the quarter ending September 2024. The stock has been given a 'Strong Sell' call by MarketsMOJO, indicating a negative outlook for the company.
According to the financials, the company has seen a decline in its performance with a score of -13, compared to 16 in the previous quarter. The Profit Before Tax (PBT) less Other Income has fallen by 74.12% year on year, standing at Rs -37.75 crore. This trend is expected to continue in the near term.
The company's ability to manage interest payments has also deteriorated, with the Operating Profit to Interest ratio at its lowest in the last five quarters. The interest cost has also increased by 35.61% over the preceding nine months, indicating a rise in borrowings.
Furthermore, the Operating Cash Flow has been at its lowest in the last three years, with a negative value of Rs -394.74 crore. This shows a decline in the company's cash revenues from business operations.
The Operating Profit (PBDIT) for the quarter is also at its lowest in the last five quarters, standing at Rs 4.54 crore. The Operating Profit Margin has also decreased to 0.59%, indicating a decline in the company's efficiency.
In terms of dividend distribution, Nahar Spinning has a low Dividend Payout Ratio (DPR) of -7.07% in the last five years, indicating a lower proportion of profits being distributed as dividends.
The company's Non Operating Income has seen a significant increase in the last five quarters, standing at Rs 17.62 crore. However, this may not be sustainable as it comes from non-business activities.
Overall, the financial results for the quarter ending September 2024 show a negative trend for Nahar Spinning Mills. Investors are advised to carefully consider these factors before making any investment decisions.
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