Ashapuri Gold Reports Strong Financial Performance in Q1 FY25 Despite 'Sell' Call.
Ashapuri Gold Ornament, a microcap company in the jewellery industry, has recently announced its financial results for the quarter ending June 2024. The company’s stock has been given a ‘Sell’ call by MarketsMOJO.
Despite this, Ashapuri Gold has shown a very positive financial performance in the quarter, with a score of 26 out of 29. This is a significant improvement from the previous quarter’s score of 29.
One of the key factors contributing to this positive performance is the company’s net sales, which have grown by 89.33% year on year to reach Rs 94.93 crore. This indicates a strong sales trend for the company.
Another noteworthy aspect is the company’s profit after tax (PAT), which has seen a growth of 1,054.00% year on year to reach Rs 5.77 crore. This is a very positive trend for the company’s profitability.
In terms of operating profit (PBDIT), Ashapuri Gold has achieved its highest figure of Rs 3.37 crore in the last five quarters. This shows a consistent growth trend in the company’s operating profit.
Similarly, the company’s profit before tax (PBT) has also seen a consistent growth trend in the last five quarters, reaching its highest figure of Rs 3.10 crore in the quarter ending June 2024.
Ashapuri Gold has also surpassed its previous 12-month period’s PAT of Rs 4.38 crore, with a higher figure of Rs 5.77 crore in the half-year period. This indicates a strong performance in the first half of the year.
The company’s operating profit margin has also shown improvement, reaching its highest figure of 7.62% in the last five quarters. This indicates an increase in efficiency for the company.
However, one area of concern for Ashapuri Gold is its cash and cash equivalents, which have reached their lowest figure of Rs 0.06 crore in the last six half-yearly periods. This indicates a deterioration in short-term liquidity for the company.
Overall, Ashapuri Gold has shown a very positive financial performance in the quarter ending June 2024, with strong growth in sales and profitability. However, the company needs to address its cash and liquidity situation to maintain its positive momentum in the future.
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