Shri Jagdamba Polymers Reports Strong Financial Performance in Q1 2024
Shri Jagdamba Polymers, a microcap company in the packaging industry, has recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Hold' call by MarketsMOJO.
According to the financial report, Shri Jagdamba Polymers has shown a positive performance in the quarter, with a score of 7 out of 10, an improvement from the previous score of 4 in the last 3 months. This indicates a strong financial performance for the company.
One of the key factors contributing to this positive performance is the growth in Profit After Tax (PAT) for the half-yearly period, which has increased by 61.96% year on year. The company has also seen a positive trend in its net sales, with the highest quarterly sales of Rs 109.99 crore in the last five quarters. The operating profit (PBDIT) for the quarter has also been the highest in the last five quarters, at Rs 16.45 crore.
However, there are some areas that need improvement for Shri Jagdamba Polymers. The Profit Before Tax less Other Income (PBT) for the quarter has fallen by -26.6% compared to the average PBT of the previous four quarters. It is also the lowest in the last five quarters, indicating a negative trend in the near term.
Overall, Shri Jagdamba Polymers has shown a positive financial performance in the quarter ending March 2024, with strong growth in PAT and net sales. However, there are some areas that need improvement, and investors are advised to hold their stock for now, according to MarketsMOJO.
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