Chrome Silicon's Q1 Financial Results Show Significant Decline, Receives Strong Sell Rating

Chrome Silicon, a microcap company in the ferro and silica manganese industry, recently announced its financial results for the quarter ending March 2024. The results, declared on May 31, have received a "Strong Sell" rating from MarketsMOJO.

According to the financials, Chrome Silicon has seen a significant decline in its performance, with a score of -20 compared to -9 in the previous quarter. This downward trend is reflected in various aspects of the company's financials.

The net sales for the quarter were at Rs 37.23 crore, showing a decrease of -20.00% year on year. This decline in sales is a cause for concern, especially considering the near-term trend, which is very negative.

The profit before tax less other income (PBT) for the quarter was at Rs -26.71 crore, a significant drop of -3946.97% year on year. This is the lowest PBT in the last five quarters, and the near-term trend is also very negative.

The profit after tax (PAT) for the quarter was at Rs -25.16 crore, showing a decline of -697.6% year on year. This is another worrying aspect of the financials, with the near-term trend being very negative.

The operating profit (PBDIT) for the quarter was at its lowest in the last five quarters, at Rs -24.90 crore. This indicates a negative trend in the company's operating profit, which is a cause for concern.

The operating profit margin for the quarter was also at its lowest in the last five quarters, at -66.88%. This shows a decline in the company's efficiency, which has deteriorated in recent times.

Overall, the financial results for the quarter ending March 2024 have not been favorable for Chrome Silicon. With a "Strong Sell" rating from MarketsMOJO, it is clear that the company needs to address the issues affecting its performance and work towards improving its financials in the future.