Super Spinning Mills Reports Mixed Financial Results for Q1 2024, MarketsMOJO Gives 'Strong Sell' Call

Super Spinning Mills, a microcap company in the textile industry, has recently announced its financial results for the quarter ending March 2024. The results have been declared on May 25, 2024.

According to the financial data, Super Spinning has seen a negative performance in the quarter, with a score of -8 compared to -5 in the previous quarter. However, there are some positive aspects to the company's financials.

One of the highlights is the growth in Profit Before Tax (PBT) less Other Income, which has increased by 799.5% to Rs 3.41 crore compared to the average PBT of the previous four quarters. This indicates a very positive trend in the near term for PBT.

Additionally, Super Spinning has recorded the highest PBT in the last five quarters at Rs 3.41 crore, further supporting the positive trend in PBT.

On the other hand, there are some areas of concern for the company. The Net Sales for the nine-month period has decreased by -90.79% year on year, indicating a very negative trend in the near term. The Profit After Tax (PAT) for the quarter has also fallen by -62.3% compared to the average PAT of the previous four quarters.

Furthermore, the company's Earnings per Share (EPS) for the quarter is the lowest in the last five quarters at Rs -2.15, indicating a decline in profitability and lower earnings for shareholders.

Based on these financial results, MarketsMOJO has given a 'Strong Sell' call for Super Spinning's stock. Investors should carefully consider these factors before making any investment decisions.