Hemang Resources Reports Flat Performance for Q1 FY25, But Shows Strong Growth in PAT

Hemang Resources, a microcap trading company, has recently announced its financial results for the quarter ended June 2024. The company has reported a flat performance for the quarter, with a score of 0 compared to -3 in the previous quarter.

Despite the overall flat performance, there are some positive aspects to note from the financial results. The company’s Profit After Tax (PAT) for the half-yearly period has shown a significant growth of 192.54% year on year, indicating a strong upward trend. Moreover, the PAT for the half-yearly period is higher at Rs 12.15 crore compared to the preceding 12 months, which was at a loss of Rs 26.57 crore. This shows that the company has already surpassed its previous year’s PAT in just half a year.

However, there are also some areas of concern for Hemang Resources. The Net Sales for the half-yearly period have shown a decline of -88.45% year on year, indicating a negative trend in the near term. Additionally, the Debtors Turnover Ratio for the half-yearly period is at its lowest in the last five periods, at 2.66 times. This suggests that the company’s pace of settling its debtors has slowed down.

MarketsMOJO has given a ‘Strong Sell’ call for Hemang Resources’ stock, based on its financial performance. Investors should carefully consider these factors before making any investment decisions.