Pacific Industries Announces Q1 Financial Results, Receives 'Sell' Call from MarketsMOJO

Pacific Industries, a microcap company in the mining and minerals industry, has recently announced its financial results for the quarter ending March 2024. The results, declared on August 10, 2024, have received a 'Sell' call from MarketsMOJO.

Despite a positive financial performance in the quarter, with a score of 12 compared to 27 in the previous 3 months, there are some areas of concern for Pacific Industries. The company's net sales for the quarter have grown by 24.4% to Rs 59.09 crore, which is higher than the average net sales of the previous four quarters. This indicates a positive trend in near term sales.

Another positive aspect for the company is its cash and cash equivalents, which have reached a six-half yearly high of Rs 46.50 crore. This shows an improvement in short term liquidity for Pacific Industries.

However, there are some red flags in the financials as well. The company's profit after tax (PAT) for the quarter has fallen by -41.8% to Rs 1.73 crore, compared to the average PAT of the previous four quarters. This indicates a very negative trend in near term PAT.

Moreover, the company's non-operating income for the quarter is 110.76% of its profit before tax (PBT). This suggests that a significant portion of the company's income is coming from non-business activities, which may not be a sustainable business model.

Overall, Pacific Industries has shown a mixed performance in the quarter ending March 2024. Investors should carefully consider these financials before making any investment decisions.