IRM Energy's Financial Performance Declines in Q1 FY25, Stock Call is 'Sell'
IRM Energy, a smallcap company in the gas transmission and marketing industry, recently declared its financial results for the quarter ending March 2024. However, the news is not positive for the company as it has seen a decline in its financial performance.
According to MarketsMOJO, a leading stock analysis platform, the stock call for IRM Energy is ‘Sell’. The company’s score has fallen from -3 to -12 in the last three months, indicating a negative trend.
The financials for the quarter ending March 2024 show that the company’s Profit Before Tax (PBT) has fallen by 71.1% to Rs 6.70 crore, compared to the average PBT of the previous four quarters at Rs 23.16 crore. This is a significant decline and the near-term trend for PBT is negative.
Similarly, the Profit After Tax (PAT) has also fallen by 55.5% to Rs 8.98 crore, compared to the average PAT of the previous four quarters at Rs 20.19 crore. The company’s ability to manage interest payments has also deteriorated, with the Operating Profit to Interest ratio being the lowest in the last five quarters.
The company’s net sales for the quarter have also seen a decline, with the lowest figure of Rs 214.25 crore in the last five quarters. The near-term trend for net sales is also negative, with a decline of 6.8% compared to the average net sales of the previous four quarters at Rs 229.86 crore.
Moreover, the company’s interest cost has increased by 22.09% quarter-on-quarter, indicating increased borrowings. The Non-Operating Income, which is 59.37% of the PBT, is also a cause for concern as it is not a sustainable business model. The company’s income from non-business activities has also increased, but this may not be sustainable in the long run.
In conclusion, the financial results for the quarter ending March 2024 have not been favorable for IRM Energy. The company has seen a decline in its PBT, PAT, net sales, and operating profit to interest ratio. The stock call by MarketsMOJO is ‘Sell’, indicating a negative trend for the company’s stock.
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