Delta Manufacturing's Q3 2024 Financial Report Shows Declining Sales and Profitability

Delta Manufacturing, a microcap company in the auto ancillary industry, recently announced its financial results for the quarter ending September 2024. The company's stock has been given a 'Strong Sell' rating by MarketsMOJO.

According to the financial report, Delta Manufacturing's performance for the quarter was flat, with a score of -5, showing a slight improvement from the previous quarter's score of -11. However, the company's operating cash flow has been consistently strong, with the highest annual amount of Rs 1.61 crore in the last three years.

On the other hand, the company's debt-equity ratio has been steadily increasing, reaching a high of 1.88 times in the last five half-yearly periods. This indicates that Delta Manufacturing is relying more on borrowing to fund its operations, which could potentially lead to liquidity issues.

In terms of sales, the company has seen a decline in the last five quarters, with the lowest net sales of Rs 19.66 crore in the most recent quarter. This trend is expected to continue in the near term. Additionally, the company's earnings per share have also decreased, with the lowest value of Rs -2.73 in the last five quarters.

Furthermore, Delta Manufacturing's cash and cash equivalents have also decreased, with the lowest amount of Rs 0.36 crore in the last six half-yearly periods. This indicates a deteriorating short-term liquidity situation for the company.

Overall, Delta Manufacturing's financial performance for the quarter ending September 2024 has been lackluster, with declining sales and profitability. Investors should carefully consider these factors before making any investment decisions.