Ganesh Benzoplast Reports Stable Financial Performance Amid Rising Interest Expenses in December 2024
Ganesh Benzoplast announced its Q3 FY24-25 financial results, highlighting a stable performance with improved operating profit and margin. The operating profit to interest ratio reached a five-quarter high, while challenges included a significant rise in interest expenses and a decline in net sales, alongside a lower debtors turnover ratio.
Ganesh Benzoplast, a microcap player in the logistics industry, recently announced its financial results for the quarter ending December 2024. The company reported a stable financial performance for Q3 FY24-25, with notable adjustments in its evaluation. The score has shifted positively to -2 from -14 over the past three months, indicating a change in assessment.Key highlights from the financial results include the operating profit to interest ratio, which reached its highest level in five quarters at 19.99 times, reflecting an enhanced ability to manage interest payments. Additionally, the operating profit (PBDIT) stood at Rs 26.99 crore, marking a peak in the same timeframe. The operating profit margin also improved to 30.25%, showcasing better efficiency.
On the other hand, some challenges persist. Interest expenses have surged by over 100% compared to the previous nine months, indicating increased borrowings. Furthermore, net sales fell to Rs 89.22 crore, a decline from the average of the previous four quarters, and the debtors turnover ratio hit its lowest point in five half-yearly periods, suggesting a slowdown in settling receivables.
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