Balkrishna Paper Mills reports strong financial performance in Q1 2024 despite 'Strong Sell' call

Balkrishna Paper Mills, a microcap company in the paper and paper products industry, recently announced its financial results for the quarter ending March 2024. The stock has been given a 'Strong Sell' call by MarketsMOJO.

Despite the negative outlook, Balkrishna Paper has shown positive financial performance in the last quarter. The company's Profit After Tax (PAT) for the nine-month period has grown by 116.83% year on year, with a very positive trend. The Operating Profit (PBDIT) for the quarter was at its highest in the last five quarters, indicating a positive trend in the near term. Similarly, the Profit Before Tax less Other Income (PBT) for the quarter was also at its highest in the last five quarters, with a positive trend in the near term.

Moreover, the company's PAT for the nine-month period was higher at Rs 7.53 crore compared to the previous 12-month period, which ended in March 2024 with a loss of Rs 52.26 crore. This shows that in just nine months, Balkrishna Paper has already surpassed its sales from the previous 12 months.

However, there are some areas that need improvement for Balkrishna Paper. The company's Earnings per Share (EPS) for the quarter was at its lowest in the last five quarters, indicating a decline in profitability and lower earnings for shareholders.

Overall, Balkrishna Paper Mills has shown positive financial performance in the last quarter, with some areas that need improvement. Investors should carefully consider these factors before making any investment decisions.