Nandan Denim Shows Positive Performance in Q2, Receives 'Hold' Call from MarketsMOJO

Nandan Denim, a microcap company in the textile industry, has recently announced its financial results for the quarter ending June 2024. The company's stock has been given a 'Hold' call by MarketsMOJO.

According to the financial report, Nandan Denim has shown positive performance in the quarter, with a score of 18 compared to 21 in the previous 3 months. This is a promising sign for the company.

One of the key factors contributing to this positive performance is the increase in net sales. The company's net sales for the quarter were Rs 721.62 crore, which is a growth of 43.6% compared to the average net sales of the previous four quarters. This shows a strong sales trend in the near term.

Another positive aspect is the company's ability to manage interest payments. The operating profit to interest ratio for the quarter was the highest in the last five quarters at 3.36 times. This indicates that the company is improving its ability to handle interest payments.

However, there are also some areas that need improvement for Nandan Denim. The profit after tax (PAT) for the quarter was Rs 7.49 crore, which is a decrease of -33.4% compared to the average PAT of the previous four quarters. This shows a negative trend in the near term.

Despite this, the company's net sales for the quarter were the highest in the last five quarters, indicating a positive sales trend in the near term. Overall, Nandan Denim's financial performance for the quarter ending June 2024 has been promising, with some areas for improvement. Investors are advised to hold their stock for now, according to MarketsMOJO.