Lakshmi Machine Works Reports Negative Financial Performance in Q1 2024
Lakshmi Machine Works, a midcap company in the textile machinery industry, has recently announced its financial results for the quarter ending March 2024. According to the data released on May 27, 2024, the company has seen a negative performance in this quarter.
The net sales for the quarter have fallen by 25.51% year on year, with a total of Rs 970.65 crore. This is the lowest net sales in the last five quarters, indicating a negative trend in the company's sales. The profit before tax (PBT) has also decreased by 51.39% year on year, with a total of Rs 46.93 crore. The profit after tax (PAT) has also seen a decline of 29.9% year on year, with a total of Rs 65.98 crore.
The company's operating profit (PBDIT) for the quarter is at its lowest in the last five quarters, with a total of Rs 73.50 crore. The operating profit margin has also decreased to 7.57%, indicating a deterioration in the company's efficiency. The non-operating income for the quarter is 46.14% of the PBT, which suggests that the company's income from non-business activities is high and may not be sustainable in the long run.
The earnings per share (EPS) for the quarter is at its lowest in the last five quarters, with a total of Rs 61.78. This decline in profitability may not be favorable for the company's shareholders.
MarketsMOJO has given a 'Hold' call for Lakshmi Machine Works' stock, based on the negative financial performance of the quarter. The company's score has fallen from -3 to -16 in the last three months, indicating a downward trend. Investors should keep a close eye on the company's future financial results to make informed decisions.
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