20 Microns Reports Positive Financial Results for Q2 2024, Stock Receives 'Hold' Rating

20 Microns, a smallcap company in the mining and minerals industry, has recently announced its financial results for the quarter ending June 2024. The company's stock has been given a 'Hold' call by MarketsMOJO.

According to the financial report, 20 Microns has shown positive performance in the quarter, with a score of 15 compared to 4 in the previous quarter. This improvement can be attributed to several factors, including the company's ability to manage interest payments, with the highest operating profit to interest ratio in the last five quarters at 8.11 times. Additionally, the company's net sales for the quarter were at their highest in the last five quarters, indicating a positive sales trend.

The operating profit (PBDIT) for the quarter was also at its highest in the last five quarters, at Rs 30.00 crore. The profit before tax (PBT) less other income was also at its highest in the last five quarters, showing a positive trend. In fact, the PBT for the quarter has grown at a rate of 20.8% over the average PBT of the previous four quarters. Similarly, the profit after tax (PAT) for the quarter was at its highest in the last five quarters, with a growth rate of 24.9% over the average PAT of the previous four quarters.

This increase in profitability has also resulted in a higher earnings per share (EPS) for the quarter, at Rs 5.06. However, there are some areas that may need improvement, such as the non-operating income, which was at its highest in the last five quarters. This may not be sustainable in the long run.

Overall, 20 Microns has shown positive financial performance in the quarter ending June 2024, with increasing profitability and a positive sales trend. Investors may want to consider holding onto their stocks in this smallcap company.