Beekay Steel Industries Reports Mixed Financial Results for Q1 FY25
Beekay Steel Industries, a smallcap company in the iron and steel industry, recently announced its financial results for the quarter ending June 2024. The company’s stock has been given a ‘Hold’ call by MarketsMOJO.
According to the financials, Beekay Steel Ind has seen a negative performance in the quarter, with a score of -7 compared to 2 in the previous quarter. However, there are some positive aspects to the company’s financials. The debt-equity ratio for the last five half yearly periods is at its lowest at 0.24 times, indicating that the company has been reducing its borrowing in comparison to its equity capital.
On the other hand, there are some areas of concern for Beekay Steel Ind. The company’s operating profit to interest ratio for the last five quarters is at its lowest at 8.72 times, showing a decline in its ability to manage interest payments. The profit before tax less other income has also fallen by 12.0% compared to the average of the previous four quarters. Additionally, the interest cost has increased by 30.44% in the last half yearly period, indicating a rise in borrowings. The profit after tax has also fallen by 5.6% compared to the average of the previous four quarters.
One of the major factors affecting the company’s financials is its high non-operating income, which accounts for 43.06% of its profit before tax. This income is the highest in the last five quarters and may not be sustainable in the long run.
Overall, Beekay Steel Industries has seen a negative trend in its financial performance for the quarter ending June 2024. Investors are advised to hold their stocks and keep a close eye on the company’s future financial results.
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