Dhanuka Agritech's Q4 Financial Results Show Decline in Sales and Profits

Dhanuka Agritech, a midcap company in the pesticides and agrochem industry, recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Hold' call by MarketsMOJO.

According to the financial report, Dhanuka Agritech's performance for the quarter has been flat, with a score of -3 compared to 0 in the previous quarter. This indicates a decline in the company's financial performance in the last three months.

One of the major factors contributing to this decline is the net sales, which have been the lowest in the last five quarters at Rs 368.31 crore. The trend for near term sales is also negative, which could be a cause for concern.

The company's Profit Before Tax (PBT) less Other Income has also fallen by 8.03% year on year, with a quarterly PBT of Rs 66.22 crore. Similarly, the Profit After Tax (PAT) has also seen a decline of 9.6% year on year, with a quarterly PAT of Rs 59.02 crore. This indicates a negative trend in the near term for both PBT and PAT.

On a positive note, Dhanuka Agritech has seen an increase in its Non Operating Income, which is at its highest in the last five quarters at Rs 15.28 crore. However, experts suggest that this increase may not be sustainable as it comes from non-business activities.

Overall, Dhanuka Agritech's financial performance for the quarter ending March 2024 has been below expectations. Investors are advised to hold their stock and monitor the company's future performance closely.