Sangam India's Q1 Financial Results Show Negative Performance and Concerning Trends
Sangam India, a smallcap textile company, recently declared its financial results for the quarter ending March 2024. The company has received a 'Sell' call from MarketsMOJO based on its performance.
According to the financials, Sangam India has seen a negative performance in the quarter, with a score of -18, which has improved from -26 in the last three months. However, there are some positive aspects to the company's performance.
The net sales for the quarter were the highest in the last five quarters, at Rs 701.12 crore. The near-term sales trend is also positive for the company. On the other hand, the profit after tax (PAT) for the quarter has fallen by 22.6% compared to the average PAT of the previous four quarters. The near-term PAT trend is also very negative.
Another concerning aspect is the interest cost, which has grown by 26.71% quarter on quarter. This signifies increased borrowings for the company. The profit before tax less other income (PBT) has also fallen by 11.0% compared to the average PBT of the previous four quarters. The interest cost for the quarter was the highest in the last five quarters and has increased by 26.71% quarter on quarter.
Overall, Sangam India's financial performance for the quarter ending March 2024 has been negative, with some concerning trends. Investors are advised to carefully consider these factors before making any investment decisions.
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