Bharat Rasayan Shows Positive Growth in Q1 2024 Financial Results

Bharat Rasayan, a midcap company in the pesticides and agrochem industry, has recently announced its financial results for the quarter ending June 2024. The company has shown a positive performance in this quarter, with its score improving from 13 to 14 in the last 3 months.

One of the key highlights of the financial results is the significant growth in Profit Before Tax (PBT) less Other Income, which has increased by 782.58% year on year. This shows a very positive trend in the near term for the company. Similarly, the Profit After Tax (PAT) has also shown a growth of 508.2% year on year, indicating a positive trend in the near term.

Another positive aspect of the financial results is the company's cash and cash equivalents, which have reached the highest level of Rs 48.62 crore in the last six half yearly periods. This shows an improvement in the company's short term liquidity.

However, there are some areas that need improvement for Bharat Rasayan. The Debtors Turnover Ratio, which measures the company's pace of settling its debtors, is at its lowest in the last five half yearly periods. This indicates a slowdown in the company's debt collection process.

Overall, Bharat Rasayan's financial results for the quarter ending June 2024 have been positive, with improvements in key areas such as PBT, PAT, and cash and cash equivalents. However, the company needs to work on its debt collection process to maintain a strong financial position. Based on these results, MarketsMOJO has given a 'Hold' call for the company's stock.