Akshar Spintex's Q3 financial report shows negative trends, receives 'Strong Sell' call.

Akshar Spintex, a microcap textile company, recently declared its financial results for the quarter ending September 2024. The stock has been given a 'Strong Sell' call by MarketsMOJO.

According to the financial report, the company has seen a negative performance in the quarter, with a score of -18 compared to -8 in the previous quarter. This decline can be attributed to various factors.

One of the major concerns for Akshar Spintex is the decrease in net sales, which have fallen by 46.5% to Rs 23.19 crore compared to the average net sales of the previous four quarters, which was Rs 43.38 crore. This indicates a very negative trend in the company's sales in the near term.

The company's profit before tax (PBT) less other income has also seen a significant decline of 627% to Rs -2.78 crore compared to the average PBT of the previous four quarters, which was Rs 0.53 crore. This trend is also expected to continue in the near term.

Similarly, the profit after tax (PAT) has also fallen by 300.6% to Rs -1.60 crore compared to the average PAT of the previous four quarters, which was Rs 0.80 crore. This indicates a negative trend in the company's profitability.

In addition, the company's operating profit (PBDIT) has reached its lowest point at Rs -1.30 crore in the last five quarters, and the operating profit margin has also decreased to -5.61%. This shows a decline in the company's efficiency.

Overall, Akshar Spintex's financial performance for the quarter has been disappointing, with the company's sales, profitability, and efficiency all showing negative trends. This has led to a 'Strong Sell' call by MarketsMOJO for the company's stock.