Magna Electro Castings Reports Positive Financial Results for Q1 FY25, Receives 'Hold' Rating from MarketsMOJO

Magna Electro Castings, a microcap company in the castings and forgings industry, has recently announced its financial results for the quarter ending March 2024. The stock call for the company by MarketsMOJO is ‘Hold’.

According to the financial report, Magna Electro Castings has shown a positive performance in the quarter, with a score of 18 compared to 6 in the previous 3 months. This improvement can be attributed to various factors.

One of the key highlights of the financials is the growth in Profit Before Tax less Other Income (PBT) which has increased by 80.8% to Rs 8.50 crore compared to the average PBT of the previous four quarters which was Rs 4.70 crore. This indicates a very positive trend in the near term for PBT.

Similarly, the Profit After Tax (PAT) has also shown a significant growth of 77.9% to Rs 6.72 crore compared to the average PAT of the previous four quarters which was Rs 3.78 crore. This is another positive trend for the company in the near term.

The company has also seen a growth in its Net Sales, which is the highest in the last five quarters at Rs 42.16 crore. This indicates a positive trend in the near term for sales.

The Operating Profit (PBDIT) has also shown a positive trend, with the highest at Rs 9.63 crore in the last five quarters. This indicates an improvement in the company’s efficiency.

The Operating Profit Margin has also seen an increase, with the highest at 22.84% in the last five quarters. This shows that the company’s efficiency has improved.

In terms of profitability, the company has shown a positive trend in both PBT and PAT, with the highest at Rs 8.50 crore and Rs 6.72 crore respectively in the last five quarters.

The company has also created higher earnings for its shareholders, with the Earnings per Share (EPS) at its highest at Rs 15.89 in the last five quarters.

Furthermore, the company’s short-term liquidity has also improved, with the highest Cash and Cash Equivalents at Rs 22.57 crore in the last six half-yearly periods.

Overall, Magna Electro Castings has shown a positive financial performance in the quarter ending March 2024, with various factors contributing to its growth. With a ‘Hold’ stock call by MarketsMOJO, the company’s future looks promising.