MSP Steel & Power's Q1 FY25 financials show mixed results, investors advised to hold position
MSP Steel & Power, a smallcap company in the iron and steel industry, recently declared its financial results for the quarter ending March 2024. According to MarketsMOJO, the stock call for MSP Steel & Power is ‘Hold’.
The company’s financial performance for the quarter has remained flat, with a score of -3 compared to 8 in the previous quarter. However, there are some positive aspects to the company’s financials based on the June 2024 results.
The Profit After Tax (PAT) for the quarter has shown a significant growth of 149.6% at Rs 13.03 crore, compared to the average PAT of the previous four quarters at Rs 5.22 crore. This indicates a positive trend in the near term for the company’s PAT.
Another positive aspect is the Debtors Turnover Ratio, which is at its highest in the last five half yearly periods at 40.30 times. This shows that the company has been able to settle its debtors at a faster rate.
However, there are some areas of concern for MSP Steel & Power based on the June 2024 financials. The Profit Before Tax less Other Income (PBT) for the quarter has fallen by -583.4% compared to the average PBT of the previous four quarters. This indicates a negative trend in the near term for the company’s PBT.
The company’s ability to manage interest payments has also deteriorated, with the Operating Profit to Interest ratio at its lowest in the last five quarters. The interest cost has also increased by 35.83% compared to the previous half yearly period, indicating increased borrowings.
The Operating Profit (PBDIT) for the quarter is at its lowest in the last five quarters, and the Operating Profit Margin has also decreased to its lowest at 3.30%. This shows a decline in the company’s efficiency.
In addition, the Non Operating Income for the quarter is 445.23% of the Profit Before Tax, which indicates a high income from non-business activities. This may not be a sustainable business model for the company.
Overall, the financial results for the quarter ending March 2024 for MSP Steel & Power show a mix of positive and negative aspects. Investors are advised to hold their position and monitor the company’s performance closely in the near future.
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