Khaitan Chemicals & Fertilizers Reports Negative Performance in Q1, Receives 'Sell' Rating
Khaitan Chemicals & Fertilizers, a microcap company in the fertilizer industry, recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Sell' call by MarketsMOJO.
According to the financial report, Khaitan Chemicals has seen a very negative performance in the quarter, with a score of -31, which has improved from -36 in the last three months. The company's net sales for the quarter were at Rs 50.83 crore, showing a significant decline of -72.01% year on year. This indicates a very negative trend in the near term for sales.
The company's profit before tax less other income (PBT) for the quarter was at Rs -39.06 crore, showing a decline of -596.32% year on year. The profit after tax (PAT) for the quarter was at Rs -37.41 crore, showing a decline of -727.1% year on year. This indicates a very negative trend in the near term for both PBT and PAT.
The company's interest cost has increased by 54.89% over the preceding nine months period, which signifies increased borrowings. The operating profit to interest ratio for the quarter was at -3.22 times, which is the lowest in the last five quarters. This indicates a deteriorating ability of the company to manage its interest payments.
The company's operating profit (PBDIT) for the quarter was at Rs -27.50 crore, which is the lowest in the last five quarters. The operating profit margin for the quarter was at -54.10%, which is also the lowest in the last five quarters. This shows a decline in the company's efficiency.
The profit before tax less other income (PBT) for the quarter was at Rs -39.06 crore, which is the lowest in the last five quarters. The earnings per share (EPS) for the quarter was at Rs -3.86, which is the lowest in the last five quarters. This indicates a declining profitability and lower earnings for shareholders.
Overall, the financial results for the quarter ending March 2024 have not been favorable for Khaitan Chemicals & Fertilizers. The company has shown a decline in sales, profitability, and efficiency, which has led to a 'Sell' call by MarketsMOJO.
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