Asian Paints' Q4 Financial Results Show Decline in Performance, 'Hold' Call Given
Asian Paints, one of the leading players in the paints industry, recently declared its financial results for the quarter ending March 2024. The company's stock has been given a 'Hold' call by MarketsMOJO.
The financial performance for the quarter has been flat, with a score of -4 compared to 9 in the previous 3 months. This indicates a decline in the company's performance.
One of the major factors contributing to this decline is the Profit Before Tax less Other Income (PBT) which has fallen by 16.1% to Rs 1,436.98 crore compared to the average PBT of the previous four quarters which was Rs 1,712.97 crore. This trend is expected to continue in the near term.
The Operating Profit (PBDIT) for the quarter was at its lowest in the last five quarters at Rs 1,691.37 crore, indicating a negative trend in the company's operating profit. The Operating Profit Margin has also decreased to its lowest at 19.37% in the last five quarters, indicating a decline in the company's efficiency.
The Profit Before Tax less Other Income (PBT) for the quarter was also at its lowest in the last five quarters at Rs 1,436.98 crore, further highlighting the negative trend in the company's performance.
The Profit After Tax (PAT) for the quarter was at Rs 1,256.72 crore, which is a decrease of 7.9% compared to the average PAT of the previous four quarters which was Rs 1,363.95 crore. This indicates a negative trend in the company's PAT in the near term.
Based on these financial results, it is recommended to hold on to Asian Paints stock for now. The company will need to work on improving its financial performance in the upcoming quarters to regain investor confidence.
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