Mazagon Dock Shipbuilders Reports Strong Financial Performance in Q1 2024
Mazagon Dock Shipbuilders, a leading shipbuilding company in India, has recently announced its financial results for the quarter ended June 2024. The company has shown a very positive performance with a score of 27, an improvement from 26 in the last 3 months.
One of the key highlights of the financial results is the growth in Profit Before Tax (PBT) by 86.7% to Rs 617.79 crore, compared to the average PBT of the previous four quarters at Rs 330.84 crore. This indicates a very positive trend in the near term for the company. Similarly, the Profit After Tax (PAT) has also shown a significant growth of 43.8% to Rs 696.10 crore, compared to the average PAT of the previous four quarters at Rs 484.24 crore.
The company has also shown a strong performance in terms of sales, with a growth of 28.45% Year on Year (YoY) in the half yearly net sales at Rs 5,460.67 crore. This indicates a positive trend in the near term for the company. Additionally, the company has been able to sell its inventory faster with the Inventory Turnover Ratio at 1.66 times, the highest in the last five half yearly periods.
Mazagon Dock has also shown a strong operating performance with the highest Operating Profit (PBDIT) of Rs 642.26 crore in the last five quarters and the highest Operating Profit Margin of 27.25%. This indicates an improvement in the company's efficiency.
The company has also created higher earnings for its shareholders with the highest Earnings per Share (EPS) of Rs 34.51 in the last five quarters. However, one area of concern is the Debtors Turnover Ratio, which has decreased to 5.13 times in the last five half yearly periods, indicating a slower pace of settling debtors.
Overall, Mazagon Dock Shipbuilders has shown a very positive financial performance in the quarter ended June 2024, with strong growth in key areas. This has led to a 'Strong Buy' stock call by MarketsMOJO, making it a promising investment opportunity for investors.
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