Manaksia Aluminium Company Reports Negative Performance in Q1 2024 Financial Results
Manaksia Aluminium Company, a microcap company in the non-ferrous metal industry, has recently announced its financial results for the quarter ending March 2024. The results, declared on August 9, 2024, have received a 'Sell' call from MarketsMOJO.
According to the financial report, Manaksia Aluminium has seen a negative performance in the quarter, with a score of -8 compared to 1 in the previous quarter. This decline can be attributed to various factors, including a decrease in net sales, operating profit to interest ratio, and profit before tax.
The company's net sales for the quarter were at Rs 81.72 crore, which is a significant drop of -23.1% compared to the average net sales of the previous four quarters. This indicates a negative trend in the company's sales in the near term.
Moreover, the operating profit to interest ratio has also reached its lowest point in the last five quarters, standing at 1.50 times. This suggests that the company's ability to manage interest payments is deteriorating.
In addition, the company's profit before tax less other income (PBT) for the quarter was at its lowest point of Rs 0.83 crore in the last five quarters. This indicates a negative trend in the company's near term PBT.
Furthermore, the earnings per share (EPS) for the quarter were at its lowest point of Rs 0.11 in the last five quarters. This decline in profitability is a cause for concern for shareholders.
Overall, the financial results for the quarter ending March 2024 have not been favorable for Manaksia Aluminium Company. Investors are advised to take note of these negative trends and make informed decisions regarding their investments in the company.
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