Gravita India's Q1 FY25 financials show positive sales and profitability, but concerns remain
Gravita India, a midcap company in the non-ferrous metal industry, has recently declared its financial results for the quarter ending March 2024. The stock call for the company by MarketsMOJO is ‘Hold’.
According to the financials, Gravita India has seen a flat performance in the quarter, with a score of 0 compared to 3 in the previous quarter. However, there are some positive aspects to the company’s performance. The net sales for the quarter were the highest in the last five quarters at Rs 863.41 crore, indicating a positive trend in sales. The profit after tax (PAT) for the quarter was also the highest in the last five quarters at Rs 68.98 crore, showing a positive trend in profitability. The earnings per share (EPS) for the quarter were also the highest in the last five quarters at Rs 9.99, indicating that the company has been able to create higher earnings for its shareholders.
On the other hand, there are some areas of concern for Gravita India. The non-operating income for the quarter was 34.46% of the profit before tax (PBT), which suggests that the company’s income from non-business activities is high and may not be a sustainable business model. The debtors turnover ratio for the half-yearly period was the lowest in the last five periods at 11.96 times, indicating a slower pace in settling debts. Additionally, the non-operating income for the quarter was the highest in the last five quarters at Rs 24.89 crore, which may not be sustainable in the long run.
Overall, Gravita India’s financial performance for the quarter ending March 2024 has been mixed, with some positive and negative aspects. Investors are advised to hold their position in the company’s stock, as recommended by MarketsMOJO.
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