EID Parry's Q4 financials show mixed results, with positive PAT growth but declining PBT and net sales.
EID Parry (India), a midcap company in the sugar 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 financials, EID Parry has seen a negative performance in the quarter, with a score of -14 compared to -12 in the previous quarter. However, there are some positive aspects to the company's financials. The Profit After Tax (PAT) for the quarter has grown by 23.1% year on year, indicating a positive trend in the near term.
On the other hand, there are also some areas of concern for EID Parry. The Profit Before Tax less Other Income (PBT) has fallen by -38.73% year on year, and the Net Sales have also decreased by -19.00% year on year. Additionally, the company's interest costs have increased by 63.04% quarter on quarter, which could be a result of increased borrowings. The company's ability to manage its interest payments has also deteriorated, with the Operating Profit to Interest ratio being the lowest in the last five quarters.
The Net Sales for the quarter were also the lowest in the last five quarters, indicating a negative trend in the near term. However, it is important to note that these financials are for the quarter ending March 2024 and may not reflect the current state of the company.
Overall, EID Parry's financial performance for the quarter ending March 2024 has been mixed, with some positive and negative aspects. Investors are advised to hold their position in the company's stock and keep an eye on future financial results to make informed decisions.
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