Quarterly Results of Aksh Optifibre Show Mixed Performance, Receives 'Strong Sell' Rating
Aksh Optifibre, a microcap company in the cable industry, recently announced its financial results for the quarter ending March 2024. The results, declared on August 6, 2024, have received a "Strong Sell" call from MarketsMOJO.
The company's financial performance for the quarter has been negative, with a score of -19, showing a slight improvement from the previous quarter's score of -26. However, there are some positive aspects to the financials that are worth noting.
One of the strengths of Aksh Optifibre is its Debtors Turnover Ratio, which has been consistently improving over the last five half-yearly periods. In the latest half-yearly period, the ratio was at its highest at 9.08 times, indicating that the company has been able to settle its debtors faster.
Another positive aspect is the company's Cash and Cash Equivalents, which have been consistently increasing over the last six half-yearly periods. In the latest period, the company had Rs 20.79 crore in cash and cash equivalents, showing an improvement in short-term liquidity.
However, there are also some areas of concern in the financials. The Net Sales for the quarter have fallen by -27.59% year on year, indicating a negative trend in sales. Similarly, the Profit Before Tax (PBT) and Profit After Tax (PAT) have also shown a significant decline of -240.70% and -230.1% respectively, compared to the same period last year.
Furthermore, the company's Operating Cash Flow has been consistently falling over the last three years, with the latest figure at Rs 46.03 crore, indicating a decline in cash revenues from business operations.
In conclusion, while Aksh Optifibre has shown some positive aspects in its financials, there are also some areas of concern that need to be addressed. The company's sales, PBT, and PAT have all shown a negative trend, and its operating cash flow has been consistently declining. Investors should carefully consider these factors before making any investment decisions.
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