Nitco's Q1 FY25 Financial Results Show Negative Trends and 'Strong Sell' Stock Call
Nitco, a microcap company in the ceramics and allied industry, recently announced its financial results for the quarter ending March 2024. The results have been declared on August 13, 2024.
According to MarketsMOJO, a leading financial analysis platform, the stock call for Nitco is currently ‘Strong Sell’. However, the company has shown some improvement in its financial performance, with the score improving from -31 to -18 in the last three months.
One of the positive aspects for Nitco in the Jun 2024 financials is its Debtors Turnover Ratio, which is the highest at 8.67 times in the last five half yearly periods. This indicates that the company has been able to settle its debtors faster.
On the other hand, there are some concerning factors in the Jun 2024 financials for Nitco. The company’s Net Sales for the quarter are at its lowest at Rs 70.22 crore and have fallen each quarter in the last five quarters. This shows a very negative trend in the near term sales.
Moreover, the Debt-Equity Ratio for the half yearly period is at its highest at -1.90 times and has grown each half year in the last five periods. This suggests that the company is borrowing more to fund its operations, which may lead to a stressed liquidity situation.
In terms of profitability, the company’s Profit Before Tax less Other Income (PBT) for the quarter has fallen by -6.7% over the average PBT of the previous four quarters. Similarly, the Profit After Tax (PAT) for the quarter has also fallen by -6.8% over the average PAT of the previous four quarters. This indicates a negative trend in the near term profitability for Nitco.
Lastly, the company’s Cash and Cash Equivalents for the half yearly period are at its lowest at Rs 7.31 crore in the last six periods. This suggests that the short term liquidity for Nitco is deteriorating.
Overall, Nitco’s financial performance for the quarter ending March 2024 has been negative, with a ‘Strong Sell’ stock call by MarketsMOJO. Investors should carefully consider these factors before making any investment decisions.
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