CIAN Agro Industries reports mixed financial results for Q1 2024
CIAN Agro Industries & Infrastructure, a microcap company in the solvent extraction industry, recently announced its financial results for the quarter ending March 2024. The results have been declared on May 30, 2024 and have received a 'Strong Sell' call from MarketsMOJO.
The company has seen a negative financial performance in the quarter, with a score of -7, which has improved from -12 in the last three months. However, there are some positive aspects to the financials that are worth noting.
CIAN Agro's net sales for the quarter were the highest in the last five quarters, at Rs 125.14 crore. This shows a positive trend in the near term. The company's profit after tax (PAT) for the quarter was also the highest in the last five quarters, at Rs 3.86 crore. This indicates a positive trend in the near term for the company's profitability. The earnings per share (EPS) for the quarter were also the highest in the last five quarters, at Rs 1.38. This shows that the company has been able to create higher earnings for its shareholders.
However, there are some areas that are not working in favor of CIAN Agro based on the March 2024 financials. The profit before tax less other income (PBT) for the quarter has fallen by 628.57% year on year, at Rs -6.63 crore. The near term trend for PBT is also negative. The interest cost for the quarter has increased by 84.86% quarter on quarter, at Rs 8.30 crore. This signifies that the company has taken on more borrowings, which could impact its financial stability. The company's ability to manage interest payments has also deteriorated, with the operating profit to interest ratio being the lowest in the last five quarters. The non-operating income for the quarter is also high, at 235.31% of the PBT. This indicates that the company's income from non-business activities is not sustainable in the long run.
Overall, CIAN Agro's financial performance for the quarter ending March 2024 has been mixed, with some positive and negative aspects. Investors should carefully consider these factors before making any investment decisions.
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