Commercial Syn Bags Reports Negative Performance in Q1 2024 Financial Results

Commercial Syn Bags, a microcap company in the plastic products industry, recently announced its financial results for the quarter ending March 2024. The company's stock has been given a "Strong Sell" rating by MarketsMOJO.

According to the financial report, Commercial Syn Bags has seen a negative performance in the quarter, with a score of -14 compared to -1 in the previous quarter. This decline can be attributed to several factors.

One of the major concerns is the company's Profit After Tax (PAT), which has fallen by 24% year on year to Rs 1.93 crore. The near-term trend for PAT is also negative, indicating potential challenges for the company in the coming months.

Another red flag is the company's interest expenses, which have grown by 46.22% in the last half-yearly period. This suggests that the company has taken on more debt, which could impact its financial stability.

In addition, Commercial Syn Bags has also seen a decrease in its cash and cash equivalents, with only Rs 4.52 crore in the last six half-yearly periods. This could be a cause for concern as it indicates a decline in short-term liquidity.

Furthermore, the company's Debtors Turnover Ratio, which measures the pace of settling debts, has also decreased to 6.80 times in the last five half-yearly periods. This could be a sign of slower payments from customers, which could affect the company's cash flow.

Overall, the financial results for the quarter ending March 2024 have not been favorable for Commercial Syn Bags. Investors should carefully consider these factors before making any investment decisions.