GMDC's Q1 financial results show mixed performance, with positive sales trend and high debtors turnover ratio.

Gujarat Mineral Development Corporation (GMDC), a midcap company in the mining and minerals industry, recently announced its financial results for the quarter ending June 2024. The stock call by MarketsMOJO for GMDC is 'Hold'.

According to the financials, GMDC's performance for the quarter has been flat, with a score of -5 compared to -12 in the previous three months. However, there are some positive aspects to note. The company's net sales for the quarter were the highest in the last five quarters at Rs 818.13 crore, showing a positive trend in the near term. The net sales have also grown by 32.8% over the average of the previous four quarters, indicating a positive sales trend in the near future. Similarly, the Profit Before Tax (PBT) has also shown a growth of 38.2% over the average of the previous four quarters.

Another positive aspect is the Debtors Turnover Ratio, which is the highest in the last five half-yearly periods at 24.32 times. This shows that the company has been able to settle its debtors faster.

However, there are some areas of concern as well. The Profit After Tax (PAT) for the half-yearly period has shown a negative growth of -40.81% year on year, indicating a very negative trend in the near term.

Overall, GMDC's financial performance for the quarter ending June 2024 has been mixed, with some positive and negative aspects. Investors are advised to hold their position in the stock and keep an eye on the company's future financial results.