Goodyear India Reports Negative Financial Results for Q4 2023, Investors Advised to Hold Stock
Goodyear India, a leading tyre company in the smallcap industry, recently announced its financial results for the quarter ending December 2023. The company's stock has been given a 'Hold' call by MarketsMOJO.
According to the financial report, Goodyear India has seen a negative performance in the quarter, with a score of -12 compared to 7 in the previous quarter. This decline can be attributed to various factors.
One of the major factors affecting the company's performance is the decrease in Profit Before Tax (PBT) and Profit After Tax (PAT). The PBT has fallen by 40.1% to Rs 24.93 crore, while the PAT has decreased by 35.3% to Rs 21.86 crore, compared to the average of the previous four quarters. This trend is expected to continue in the near term.
The company's net sales have also seen a decline of 14% to Rs 591.40 crore, compared to the average of the previous four quarters. This is the lowest net sales in the last five quarters, indicating a negative trend in the near term. Similarly, the operating profit (PBDIT) has also decreased to its lowest at Rs 39.81 crore in the last five quarters.
The company's profitability has also been affected, with the lowest Earnings per Share (EPS) of Rs 9.48 in the last five quarters. Additionally, the company's non-operating income has increased, but it may not be sustainable in the long run.
Overall, Goodyear India's financial performance for the quarter ending December 2023 has been negative, with a decline in key financial indicators. Investors are advised to hold their stock and monitor the company's performance in the coming quarters.
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