Neelamalai Agro Industries Receives 'Sell' Call After Decline in Financial Performance
Neelamalai Agro Industries, a microcap company in the tea/coffee industry, recently announced its financial results for the quarter ending March 2024. The results, declared on May 30, have received a 'Sell' call from MarketsMOJO.
According to the financial report, Neelamalai Agro's performance for the quarter has been flat, with a score of -3 compared to 7 in the previous three months. This indicates a decline in the company's overall financial health.
One of the major factors contributing to this decline is the Profit After Tax (PAT), which has fallen by 26.3% to Rs 3.87 crore compared to the average PAT of the previous four quarters, which was Rs 5.25 crore. The near-term trend for PAT is also negative.
Similarly, the Net Sales for the quarter have also seen a decline of 18.8% to Rs 5.21 crore compared to the average Net Sales of the previous four quarters, which was Rs 6.42 crore. This is the lowest Net Sales in the last five quarters, indicating a negative trend in the near term.
Based on these financial results, MarketsMOJO has given a 'Sell' call for Neelamalai Agro Industries. The company will need to address these issues and improve its financial performance in order to regain investor confidence and improve its stock value.
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