DEE Development Engineers' Financial Results Show Negative Trends, MarketsMOJO Recommends 'Sell' Call
DEE Development Engineers, a smallcap company in the engineering industry, recently declared its financial results for the quarter ending June 2024. According to the data released on August 14, 2024, the stock call for DEE Development by MarketsMOJO is 'Sell'.
The financials for the quarter show a decline in key areas for the company. The Profit Before Tax (PBT) has fallen by 262.8% to Rs -3.28 crore, compared to the average PBT of the previous four quarters which was Rs 2.02 crore. This indicates a very negative trend in the near term. Similarly, the Profit After Tax (PAT) has also fallen by 91.6% to Rs 0.43 crore, compared to the average PAT of the previous four quarters which was Rs 5.12 crore. This is another negative trend for the company in the near term.
The Net Sales for the quarter have also seen a decline of 10.0% to Rs 144.00 crore, compared to the average Net Sales of the previous four quarters which was Rs 160.02 crore. This shows a very negative trend in the near term for the company's sales. Additionally, the Interest for the quarter has increased by 17.11% to Rs 9.65 crore, which is the highest in the last five quarters. This signifies an increase in borrowings for the company.
The PBT for the quarter is at its lowest in the last five quarters at Rs -3.28 crore, indicating a negative trend in the near term. Furthermore, the Non Operating Income for the quarter is 637.70% of the PBT, which is a cause for concern as it shows a high income from non-business activities, which is not a sustainable business model.
Based on these financial results, MarketsMOJO has recommended a 'Sell' call for DEE Development Engineers. The company will need to address these negative trends and make strategic changes to improve its financial performance in the future.
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