Apex Frozen Foods Reports Negative Financial Results for Q3 2024
Apex Frozen Foods, a microcap company in the aquaculture industry, recently announced its financial results for the quarter ending September 2024. The stock call by MarketsMOJO for the company is 'Sell'.
According to the financial report, Apex Frozen Foods has seen a very negative performance in the quarter, with a score of -25 compared to -6 in the previous quarter. This decline can be attributed to several factors.
One of the major concerns is the Profit Before Tax less Other Income (PBT) which has fallen by -126.16% Year on Year (YoY) to Rs -2.71 crore. The Profit After Tax (PAT) has also seen a significant decline of -120.0% YoY to Rs -1.67 crore. This indicates a very negative trend in the near term for the company's profitability.
The Net Sales for the quarter have also fallen by -17.05% YoY to Rs 199.52 crore, showing a very negative trend in the near term for the company's sales. Additionally, the PBT has hit its lowest point in the last five quarters at Rs -2.71 crore, further highlighting the negative trend in the company's financial performance.
The Earnings per Share (EPS) for the quarter have also declined to its lowest point in the last five quarters at Rs -0.53. This indicates a declining profitability for the company and lower earnings for its shareholders.
Another concerning factor is the Debtors Turnover Ratio, which has hit its lowest point in the last five half-yearly periods at 6.23 times. This suggests that the company's pace of settling its debtors has slowed down.
Overall, the financial results for the quarter ending September 2024 for Apex Frozen Foods have been very negative. Investors are advised to take note of these factors before making any investment decisions.
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