Haldyn Glass Reports Negative Financial Performance in Q1 2024
Haldyn Glass, a microcap company in the glass industry, recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Sell' call by MarketsMOJO.
According to the financial report, Haldyn Glass has seen a negative performance in the quarter, with a score of -17 compared to -13 in the previous quarter. This indicates a decline in the company's financial health.
One of the major factors contributing to this decline is the Profit Before Tax (PBT) which has fallen by 69.86% year on year, standing at Rs 1.48 crore. The trend for PBT in the near term is also negative. Additionally, the company's interest cost has increased by 135.37% quarter on quarter, indicating a rise in borrowings.
The Profit After Tax (PAT) for the nine-month period has also seen a decline of 24.11% year on year, standing at Rs 15.42 crore. The interest cost for the quarter is the highest in the last five quarters, further highlighting the company's increased borrowings.
Another concerning aspect is the company's high income from non-business activities, which accounts for 85.21% of the PBT. This may not be a sustainable business model for the company. The non-operating income for the quarter is also the highest in the last five quarters, which may not be sustainable in the long run.
Overall, Haldyn Glass has reported a negative financial performance for the quarter ending March 2024. Investors are advised to carefully consider these factors before making any investment decisions.
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