Multibase India Reports Decline in Profit After Tax Amid Stable Sales Growth

Multibase India, a microcap player in the petrochemicals industry, has recently undergone an adjustment in evaluation, reflecting the company's current financial landscape. The latest quarter, Q3 FY24-25, has shown a stable performance, with net sales growing at an annual rate of 0.48% and operating profit at 6.40% over the past five years. However, the recent results indicate a decline in profit after tax (PAT) for the quarter, which stood at Rs 2.38 crore, marking a notable shift compared to the previous four-quarter average.
The company's non-operating income constituted a significant portion of profit before tax, accounting for 35.20%. Additionally, the earnings per share (EPS) reached its lowest at Rs 1.89. With a return on equity (ROE) of 10.8 and a price-to-book value ratio of 2.5, Multibase India is perceived to have a high valuation relative to its performance metrics. Despite a commendable return of 12.96% over the past year, the technical trend has shown signs of sideways movement, indicating a lack of clear price momentum.

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