Minaxi Textiles Announces Q2 FY24-25 Results, Receives 'Strong Sell' Rating from MarketsMOJO

Minaxi Textiles, a microcap company in the textile industry, recently announced its financial results for the quarter ending September 2024. The results, declared on October 28, 2024, have received a 'Strong Sell' call from MarketsMOJO.

The company's performance for Q2 FY24-25 has remained flat, with a score of 2 compared to 6 in the previous 3 months. However, there are some positive aspects to the financials that are worth noting.

Minaxi Textiles has shown a strong operating cash flow of Rs 4.74 crore annually in the last three years, indicating higher cash revenues from business operations. The company has also recorded its highest quarterly profit after tax (PAT) of Rs 0.16 crore in the last five quarters, with a positive trend in the near term. Additionally, the earnings per share (EPS) for the quarter have also been the highest at Rs 0.03, showcasing an increase in profitability and higher earnings for shareholders.

On the other hand, there are some areas of concern in the financials. The net sales for the quarter have fallen by 7.0% at Rs 7.81 crore, compared to the average net sales of the previous four quarters at Rs 8.40 crore. This indicates a negative trend in the near term. Furthermore, the company's cash and cash equivalents for the last six half-yearly periods have been the lowest at Rs 0.00 crore, indicating a deteriorating short-term liquidity.

Overall, Minaxi Textiles has shown a mixed performance in its recent financial results. Investors are advised to carefully analyze the company's financials before making any investment decisions.