Kiri Industries Announces Q2 Financial Results, PAT Grows by 50.3%
Kiri Industries, a smallcap company in the dyes and pigments industry, recently announced its financial results for the quarter ending September 2024. The company's stock has been given a 'Hold' call by MarketsMOJO.
According to the financials, Kiri Industries has seen a flat performance in the second quarter of the fiscal year 2024-2025, with a score of -1 compared to 12 in the previous three months. However, there are some positive aspects to the company's financials.
The Profit After Tax (PAT) for the quarter has grown by 50.3% to Rs 80.30 crore, which is higher than the average PAT of the previous four quarters at Rs 53.44 crore. The net sales for the quarter were also the highest in the last five quarters at Rs 272.23 crore, indicating a positive trend in sales. The Operating Profit (PBDIT) for the quarter was also the highest in the last five quarters at Rs 17.05 crore, showing a positive trend in operating profit.
The company also has a strong cash position, with cash and cash equivalents at Rs 1,043.14 crore in the last six half-yearly periods. However, there are some areas of concern in the financials as well.
The Operating Cash Flow for the year has been consistently falling in the last three years, with the lowest at Rs -60.58 crore. The interest cost for the quarter has also increased by 224.36% compared to the previous quarter, indicating increased borrowings. The Debtors Turnover Ratio has also been consistently falling in the last five half-yearly periods, showing a slower pace of settling debts.
The company's debt-equity ratio is also at its highest in the last five half-yearly periods, indicating increased borrowing to fund operations. Additionally, the Dividend Payout Ratio for the last five years is at its lowest at 0.00%, indicating a lower distribution of profits as dividends.
Overall, Kiri Industries has shown a mixed performance in the second quarter of the fiscal year 2024-2025. While there are some positive aspects to the financials, there are also areas of concern that need to be addressed. Investors are advised to hold their position in the company's stock and monitor its performance closely.
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