Garware Synthetics shows improvement in financial score, receives 'Sell' call from MarketsMOJO

Garware Synthetics, a microcap company in the textile industry, has recently announced its financial results for the quarter ending March 2024. The results, declared on August 1, have received a 'Sell' call from MarketsMOJO.

Despite a flat performance in the quarter, Garware Synth has shown improvement in its overall financial score, which has increased from -3 to -1 in the last three months. This indicates that the company is taking steps towards improving its financial health.

One of the key factors contributing to this improvement is the company's Debtors Turnover Ratio, which has been the highest at 8.42 times in the last five half-yearly periods. This means that Garware Synth has been able to collect payments from its debtors at a faster rate, which is a positive sign for its financial stability.

While the company's financial performance may not be at its best currently, it is taking steps in the right direction to improve its standing in the market. Investors and stakeholders can keep a close eye on Garware Synth as it continues to work towards strengthening its financials.