Venkys (India) Downgraded to 'Hold' by MarketsMOJO on Various Factors
Venkys (India), a smallcap FMCG company, has recently been downgraded to a 'Hold' by MarketsMOJO on September 24, 2024. This decision was based on various factors, including the company's ability to service its debt, positive results in the June 2024 quarter, and technical indicators.One of the main reasons for the downgrade is the company's low Debt to EBITDA ratio of 0.28 times, indicating a strong ability to service its debt. In addition, Venkys (India) has shown positive results in the June 2024 quarter, with its PBDIT(Q) at the highest at Rs 103.26 crore, OPERATING PROFIT TO NET SALES(Q) at the highest at 12.78%, and PBT LESS OI(Q) at the highest at Rs 90.39 crore.
Technically, the stock is in a Mildly Bullish range, with multiple factors such as MACD, KST, and OBV indicating a bullish trend. Moreover, with a ROE of 9.8 and a price to book value of 2.2, the stock is currently trading at an attractive valuation compared to its historical average.
However, the company has shown poor long-term growth, with its operating profit growing at an annual rate of -26.70% over the last 5 years. This may be a cause for concern for investors.
Another factor to consider is the low stake of only 0.15% held by domestic mutual funds in the company. This could indicate that they are not comfortable with the current price or the business, as domestic mutual funds have the capability to conduct in-depth research on companies.
In the last 1 year, Venkys (India) has underperformed the market, generating a return of only 8.71% compared to the market (BSE 500) returns of 40.54%. This could also be a contributing factor to the downgrade.
In conclusion, while Venkys (India) may have some positive aspects, such as its ability to service debt and technical indicators, the company's poor long-term growth and underperformance in the market may have led to its downgrade to a 'Hold' by MarketsMOJO. Investors should carefully consider these factors before making any investment decisions.
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