Nelcast's Q1 FY25 financial results show concerning decline in profits and sales
Nelcast, a smallcap company in the castings and forgings industry, recently announced its financial results for the quarter ending June 2024. The results, declared on July 26, have received a ‘Sell’ call from MarketsMOJO.
The company’s financial performance for the quarter has remained flat, with a slight improvement in its score from -6 to -2 in the last three months. However, there are some concerning factors based on the Jun 2024 financials.
One of the major concerns is the Profit After Tax (PAT), which has fallen by 36.1% compared to the average PAT of the previous four quarters. The PAT for the quarter stands at Rs 6.36 crore. The near-term trend for PAT is also negative.
Another area of concern is the Net Sales, which has fallen by 5.3% compared to the average Net Sales of the previous four quarters. The Net Sales for the quarter stands at Rs 300.10 crore. The near-term trend for sales is also negative.
Overall, the financial results for the quarter have not been favorable for Nelcast. Investors and stakeholders will be closely monitoring the company’s performance in the coming quarters to see if there is any improvement.
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