Indo Rama Synthetics Reports Negative Financial Performance in Q1 2024
Indo Rama Synthetics (India), a smallcap textile company, recently announced its financial results for the quarter ending March 2024. According to the data released on May 17, 2024, the company has seen a negative financial performance with a score of -10, which has improved from -21 in the last three months.
One of the major factors contributing to this decline is the net sales, which have fallen by 6.0% to Rs 904.14 crore compared to the average net sales of the previous four quarters, which stood at Rs 962.29 crore. This indicates a negative trend in the near term for the company's sales.
Another concerning aspect is the interest cost, which has increased by 10.91% (QoQ) and stands at Rs 40.65 crore, the highest in the last five quarters. This rise in interest cost suggests that the company has taken on more borrowings, which could have a negative impact on its financial health.
MarketsMOJO, a leading financial analysis and research firm, has given a 'Strong Sell' call for Indo Rama Synthetics based on its financial performance. This indicates that investors should exercise caution while considering this stock for investment.
It is important to note that this article is based on factual information and does not include any external data or sources. It is intended to provide a neutral and informative overview of Indo Rama Synthetics' financial performance for the quarter ending March 2024.
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