Gujarat Apollo Industries Reports Negative Performance in Q1 2024 Financial Results
Gujarat Apollo Industries, a microcap company in the capital goods industry, recently announced its financial results for the quarter ending March 2024. The company's stock has been given a "Strong Sell" rating by MarketsMOJO.
According to the financial report, Gujarat Apollo Industries has seen a negative performance in the quarter, with a score of -9 compared to 5 in the previous quarter. This decline can be attributed to several factors.
One of the major concerns is the company's net sales, which have fallen by -28.88% year on year. This is a significant decrease and the near-term sales trend is also negative. Additionally, the company's profit after tax (PAT) has also seen a sharp decline of -170.1% year on year. This is a cause for concern as the near-term trend for PAT is also negative.
Furthermore, the company's net sales for the quarter were the lowest in the last five quarters, indicating a negative sales trend. Another red flag is the fact that the company's non-operating income is 563.29% of its profit before tax. This suggests that the company's income from non-business activities is high, which is not a sustainable business model.
Lastly, the company's earnings per share (EPS) for the quarter were the lowest in the last five quarters, at Rs -1.53. This indicates a decline in profitability and lower earnings for shareholders.
Overall, the financial results for the quarter ending March 2024 do not paint a positive picture for Gujarat Apollo Industries. Investors should carefully consider these factors before making any investment decisions.
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