Gallantt Ispat L's Q2 FY24-25 financials show decline in key areas, receives 'Hold' call from MarketsMOJO

Gallantt Ispat L, a midcap company in the steel/sponge iron/pig iron industry, recently declared its financial results for the quarter ending September 2024. According to the latest report, the company's stock has been given a 'Hold' call by MarketsMOJO.

The financial performance of Gallantt Ispat L for the second quarter of FY24-25 has remained flat, with a score of 2 compared to 26 in the previous three months. This indicates a decline in the company's performance.

The Sep 2024 financials show a decline in key areas for Gallantt Ispat L. The Profit Before Tax (PBT) less Other Income has fallen by 42.9% to Rs 63.02 crore, compared to the average PBT of the previous four quarters at Rs 110.45 crore. The Profit After Tax (PAT) has also seen a decline of 38.2% to Rs 48.89 crore, compared to the average PAT of Rs 79.13 crore in the previous four quarters. The Net Sales for the quarter have fallen by 13.3% to Rs 942.57 crore, compared to the average Net Sales of Rs 1,087.41 crore in the previous four quarters. This indicates a negative trend in the company's near-term performance.

Moreover, the Debtors Turnover Ratio for the half-yearly period is at its lowest in the last five periods at 23.66 times. This suggests that the company's pace of settling its debtors has slowed down.

Overall, the financial results for the quarter ending September 2024 have not been favorable for Gallantt Ispat L. The company's stock has been given a 'Hold' call by MarketsMOJO, indicating a cautious approach for investors.