Bhandari Hosiery Exports Reports Decline in Financial Health for Q1 2024
Bhandari Hosiery Exports, a microcap company in the textile industry, recently announced its financial results for the quarter ending March 2024. The results, declared on August 14, 2024, have received a 'Sell' call from MarketsMOJO.
According to the financial report, Bhandari Hosiery has seen a flat performance in the quarter, with a score of -5 compared to -3 in the previous quarter. This indicates a decline in the company's overall financial health.
One of the major factors contributing to this decline is the net sales, which have fallen by 12.9% to Rs 58.06 crore compared to the average net sales of the previous four quarters, which stood at Rs 66.68 crore. This trend in sales is concerning for the company in the near term.
Another area of concern is the interest cost, which has increased by 20.80% to Rs 9.35 crore in the nine-month period. This signifies that the company has taken on more borrowings, which could impact its financial stability.
The quarterly earnings per share (EPS) for Bhandari Hosiery is at its lowest in the last five quarters, standing at Rs 0.09. This decline in profitability is not favorable for the company and may affect its shareholders.
Overall, the financial results for the quarter ending March 2024 have not been positive for Bhandari Hosiery Exports. The company will need to address these issues and work towards improving its financial performance in the future.
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