COSCO (India) Reports Decline in Financial Performance, Receives 'Sell' Call from MarketsMOJO
COSCO (India), a microcap company in the leather industry, recently announced its financial results for the quarter ending September 2024. The company's stock has been given a 'Sell' call by MarketsMOJO, indicating a negative outlook.
According to the financial report, COSCO (India) has seen a decline in its performance with a score of -8, compared to 17 in the previous quarter. This is a significant drop in just three months, indicating a downward trend for the company.
The company's Profit After Tax (PAT) for the quarter was at Rs 0.20 crore, which is a decrease of 80.9% from the average PAT of the previous four quarters. This shows a negative trend in the company's near-term profitability. Similarly, the Net Sales for the quarter were at Rs 38.16 crore, a decrease of 14.9% from the average Net Sales of the previous four quarters. This also indicates a negative trend in the company's near-term sales.
COSCO (India) also saw a decline in its ability to manage interest payments, with the Operating Profit to Interest ratio at its lowest in the last five quarters. The company's net sales for the quarter were also at its lowest in the last five quarters, further highlighting the negative trend in its sales.
The company's interest costs have also increased by 15.32% compared to the previous quarter, indicating increased borrowings. The Operating Profit (PBDIT) for the quarter was also at its lowest in the last five quarters, showing a negative trend in the company's near-term operating profit.
The Operating Profit Margin for the quarter was also at its lowest in the last five quarters, indicating a decline in the company's efficiency. The Profit Before Tax less Other Income (PBT) for the quarter was also at its lowest in the last five quarters, showing a negative trend in the company's near-term profitability.
Overall, COSCO (India) has shown a decline in its financial performance for the quarter ending September 2024. With a 'Sell' call from MarketsMOJO, investors may want to carefully consider their investments in the company.
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