Oricon Enterprises' Financial Report Shows Decline in Performance, Debtors Turnover Ratio at 5-Year High

Oricon Enterprises, a microcap shipping company, recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Strong Sell' rating by MarketsMOJO.

According to the financial report, Oricon Enterprises has seen a significant decline in its financial performance in the last quarter, with a score of -24 compared to -21 in the previous quarter. However, there are some positive aspects to the company's financials.

One of the key highlights is the Debtors Turnover Ratio, which is at its highest in the last five half-yearly periods at 8.74 times. This indicates that the company has been able to settle its debtors faster.

On the other hand, there are some concerning factors as well. The company's net sales for the quarter were at Rs 31.50 crore, a decrease of 61.2% compared to the average net sales of the previous four quarters. This suggests a negative trend in near-term sales.

Similarly, the Profit After Tax (PAT) for the quarter was at Rs -4.62 crore, a decline of 277.8% compared to the average PAT of the previous four quarters. The Profit Before Tax less Other Income (PBT) was also at its lowest in the last five quarters at Rs -25.63 crore, with a negative trend in each quarter.

Another concerning factor is the rising interest cost, which has increased by 16.72% (QoQ) and is at its highest in the last five quarters. This indicates increased borrowings by the company.

Overall, Oricon Enterprises has reported a negative financial performance for the quarter ending March 2024. Investors are advised to carefully consider these factors before making any investment decisions.