Indo Rama Synthetics' Financial Performance Declines, Receives 'Strong Sell' Rating
Indo Rama Synthetics (India), a smallcap textile company, has recently declared its financial results for the quarter ending September 2024. According to the latest report, the company has seen a negative financial performance in the second quarter of the fiscal year 2024-25. This has resulted in a decrease in the company's score from -7 to -10 in the last three months.
One of the major concerns for Indo Rama Synthetics is its debt-equity ratio, which has been continuously increasing in the last five half-yearly periods. The company's current ratio stands at 3.99 times, indicating that it is borrowing more to fund its operations. This could potentially lead to a stressed liquidity situation for the company.
Another red flag in the financial report is the rising interest cost, which has grown by 28.31% in the preceding nine months period. This signifies an increase in the company's borrowings, which could have a negative impact on its profitability.
The company's net sales have also seen a decline of 6.1% in the current quarter compared to the average net sales of the previous four quarters. This indicates a negative trend in the company's sales performance in the near term.
Moreover, the profit before tax (PBT) and profit after tax (PAT) have also shown a negative trend in the current quarter, falling by 7.1% and 5.3% respectively. This is in contrast to the average PBT and PAT of the previous four quarters, further highlighting the company's poor financial performance.
Additionally, the debtors turnover ratio, which measures the pace of settling debtors, has been at its lowest in the last five half-yearly periods. This indicates that the company's ability to collect payments from its debtors has slowed down.
In light of these financial results, MarketsMOJO has given a 'Strong Sell' call for Indo Rama Synthetics. Investors are advised to carefully consider these factors before making any investment decisions related to the company.
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