Machino Plastics Reports Flat Q3 FY24-25 Results Amid Rising Debt and Interest Expenses

Machino Plastics, a microcap player in the auto ancillary industry, recently announced its financial results for the quarter ending December 2024. The company reported a flat financial performance for Q3 FY24-25, with notable evaluation changes reflected in its score, which has seen a revision in its assessment over the past three months.
On a positive note, the Profit After Tax (PAT) for the half-year period reached Rs 3.66 crore, marking a significant year-on-year growth of 116.57%. Additionally, the Profit Before Tax less Other Income (PBT) for the quarter stood at Rs 3.15 crore, also showing a robust year-on-year increase of 78.98%. This figure represents the highest PBT recorded in the last five quarters, indicating a favorable near-term trend.

Conversely, the financial results also highlighted challenges for Machino Plastics. The interest expense for the half-year period rose to Rs 6.32 crore, reflecting a 46.64% increase compared to the previous half-year. Furthermore, the company's Debt-Equity Ratio reached its highest level at 2.44 times, suggesting an increase in borrowings to support operations. The Debtors Turnover Ratio also declined to 5.64 times, indicating a slowdown in the pace of settling debts.

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