Lakshmi Electrical Control Systems Reports Negative Financial Results for Q1 2024
Lakshmi Electrical Control Systems, a microcap company in the capital goods industry, recently announced its financial results for the quarter ending March 2024. According to the report released on May 23, 2024, the company's stock has been given a 'Hold' call by MarketsMOJO.
The financial performance of Lakshmi Electrical for the quarter has been negative, with a score of -16, showing a slight improvement from the previous quarter's score of -18. The company's net sales for the quarter were at Rs 61.95 crore, which is a decrease of 35.32% compared to the same quarter last year. This indicates a very negative trend in the company's sales in the near term.
The profit before tax (PBT) for the quarter was at Rs 1.60 crore, showing a decline of 67.21% compared to the previous year. This also reflects a very negative trend in the company's PBT in the near term. The profit after tax (PAT) for the half-yearly period was at Rs 4.00 crore, showing a decrease of 52.04% compared to the same period last year. This indicates a very negative trend in the company's PAT in the near term.
Moreover, the company's net sales for the quarter were the lowest in the last five quarters, further highlighting the negative trend in sales. Additionally, the non-operating income for the quarter was 44.06% of the PBT, which is a cause for concern as it shows that a significant portion of the company's income is coming from non-business activities, which is not a sustainable business model.
Overall, the financial results for the quarter ending March 2024 have not been favorable for Lakshmi Electrical Control Systems. Investors are advised to hold their stock and closely monitor the company's performance in the coming quarters.
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