Apex Frozen Foods Reports Negative Financial Results for Q1 2024

Apex Frozen Foods, a microcap company in the aquaculture industry, recently announced its financial results for the quarter ending March 2024. According to the report released on May 24, 2024, the company's performance has been negative, with a score of -19, an improvement from the previous quarter's score of -20.

The company's net sales for the quarter were at Rs 161.64 crore, showing a decline of 23.70% year on year. This trend is expected to continue in the near term. The profit before tax, excluding other income, also saw a significant decrease of 215.79% year on year, at Rs -1.98 crore. This indicates a negative trend in the company's profitability in the near term.

One concerning aspect of the financial report is the company's operating profit to interest ratio, which is at its lowest in the last five quarters at 0.56 times. This suggests that the company's ability to manage its interest payments is deteriorating.

The half-yearly profit after tax (PAT) for Apex Frozen Foods was at Rs 2.61 crore, showing a decline of 30.03% year on year. The company's operating profit (PBDIT) for the quarter was also at its lowest in the last five quarters, at Rs 1.35 crore. This indicates a negative trend in the company's operating profit in the near term.

Furthermore, the company's operating profit margin for the quarter was at its lowest in the last five quarters, at 0.84%. This suggests a decline in the company's efficiency. The profit before tax, excluding other income, was also at its lowest in the last five quarters, at Rs -1.98 crore, indicating a negative trend in the near term.

Based on these financial results, MarketsMOJO has given a 'Sell' call for Apex Frozen Foods' stock. Investors should carefully consider these factors before making any investment decisions.