Permanent Magnets Announces Q1 Financial Results, Shows Mixed Performance

Permanent Magnets, a microcap engineering company, has recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Sell' call by MarketsMOJO.

According to the financial report, Permanent Magnets has shown a flat performance in the quarter, with a slight improvement in its score from -13 to -2 in the last three months. However, there are some positive aspects to the company's financials.

One of the key highlights is the company's strong operating cash flow, which has been consistently growing over the last three years and is currently at Rs 19.36 crore annually. This indicates that the company is generating higher cash revenues from its business operations.

Another positive aspect is the company's dividend per share (DPS), which has been steadily increasing over the last five years and is currently at Rs 1.80 annually. This shows that the company is distributing a higher dividend from its profits.

In terms of sales, Permanent Magnets has recorded its highest quarterly net sales of Rs 54.32 crore in the last five quarters, with a year-on-year growth of 24.47%. This indicates a positive trend in the company's sales performance in the near term.

However, there are also some areas of concern in the company's financials. The profit before tax (PBT) less other income has fallen by -23.56% year-on-year, and the profit after tax (PAT) has also seen a decline of -15.3% year-on-year. This indicates a negative trend in the company's near term PBT and PAT.

Overall, Permanent Magnets has shown a mixed performance in the quarter ending March 2024, with some positive and negative aspects. Investors should carefully consider these factors before making any investment decisions.