Deco-Mica's Q1 Financial Results Show Negative Performance, Investors Beware
Deco-Mica, a microcap company in the wood products industry, recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Sell' call by MarketsMOJO.
According to the financial report, Deco-Mica has seen a negative performance in the quarter, with a score of -7 compared to 8 in the previous quarter. This decline can be attributed to several factors, including a significant decrease in Profit After Tax (PAT) and Net Sales.
The company's PAT for the quarter was only Rs 0.10 crore, which is a decrease of 82.7% from the average PAT of the previous four quarters. Similarly, the Net Sales for the quarter were Rs 15.82 crore, a decrease of 18.1% from the average of the previous four quarters.
Furthermore, Deco-Mica's Debtors Turnover Ratio has been consistently falling in the last five half-yearly periods, indicating a slower pace in settling its debtors. The company's operating profit and profit margin have also seen a decline, with the lowest figures in the last five quarters.
Overall, the financial results for the quarter ending March 2024 show a negative trend for Deco-Mica. Investors should take note of these figures and make informed decisions about their investments in the company's stock.
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