Global Surfaces Reports Significant Decline in Financial Performance for Q3 2024
Global Surfaces, a microcap company in the ceramics, marble, granite, and sanitaryware industry, has recently announced its financial results for the quarter ending September 2024. The company's stock has been given a 'Strong Sell' rating by MarketsMOJO.
According to the financial report, Global Surfaces has seen a significant decline in its financial performance for the quarter, with a score of -20 compared to -9 in the previous quarter. This decline can be attributed to various factors, including a sharp increase in interest costs, a decrease in net sales, and a negative trend in operating profit and earnings per share.
The company's half-yearly interest costs have grown by 198.16%, indicating increased borrowings. Additionally, the quarterly net sales have fallen by -23.6% compared to the average of the previous four quarters, showing a negative trend in sales. The profit before tax less other income has also seen a significant decline of -230.7%, and the profit after tax has fallen by -267.5% compared to the average of the previous four quarters.
Furthermore, Global Surfaces' operating profit margin has been consistently declining in the last five quarters, reaching its lowest point at 3.68%. The company's ability to manage interest payments has also deteriorated, with the operating profit to interest ratio at its lowest in the last five quarters. The operating profit before depreciation, interest, and taxes has also seen a negative trend, reaching its lowest point at Rs 1.73 crore in the last five quarters.
The company's profitability has also been affected, with the earnings per share at its lowest in the last five quarters at Rs -1.51. This indicates a decline in the company's ability to generate earnings for its shareholders.
Overall, Global Surfaces has seen a very negative financial performance for the quarter ending September 2024. Investors are advised to carefully consider these factors before making any investment decisions.
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