Banswara Syntex Reports Negative Q2 Results, Raises Concerns for Investors
Banswara Syntex, a microcap textile company, recently announced its financial results for the quarter ending September 2024. The company's stock has been given a 'Strong Sell' rating by MarketsMOJO.
According to the financial report, Banswara Syntex has seen a negative performance in the second quarter of the fiscal year 2024-2025, with a score of -14. However, this is an improvement from the previous quarter's score of -24.
One positive aspect of the company's financials is its operating cash flow, which has been the highest in the last three years at Rs 142.44 crore. This indicates that the company has generated higher cash revenues from its business operations.
On the other hand, the company's profit after tax (PAT) for the quarter has fallen by 25.9% compared to the average PAT of the previous four quarters. This is a concerning trend for investors in the near term. Additionally, the interest cost for the quarter has increased by 15.68%, indicating a rise in borrowings.
Another red flag in the financial report is the company's non-operating income, which accounts for 36.77% of the profit before tax (PBT). This suggests that the company's income from non-business activities is high, which may not be a sustainable business model.
Overall, Banswara Syntex's financial performance for the quarter ending September 2024 has been negative, with some concerning trends. Investors should carefully consider these factors before making any investment decisions.
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