Kanco Tea & Industries Reports Negative Performance, Receives 'Sell' Call from MarketsMOJO

Kanco Tea & Industries, a microcap company in the tea/coffee industry, recently announced its financial results for the quarter ending December 2023. The results, declared on February 14, 2024, have received a 'Sell' call from MarketsMOJO.

According to the financial report, Kanco Tea has seen a negative performance in the quarter, with a score of -11, which has improved from -18 in the last 3 months. This indicates that the company has faced challenges in the recent quarter.

One of the major factors contributing to this negative performance is the decline in net sales. The company's net sales for the quarter were Rs 19.48 crore, which is a significant decrease of -35.24% compared to the same quarter last year. This trend is expected to continue in the near term, as the sales trend is very negative.

Additionally, Kanco Tea's profit after tax (PAT) for the half-yearly period was Rs -1.79 crore, showing a decline of -34.10% compared to the previous year. This indicates a negative trend in the company's profitability in the near term.

Based on these financials, MarketsMOJO has given a 'Sell' call for Kanco Tea's stock. Investors should carefully consider these factors before making any investment decisions related to the company.