Nidhi Granites Reports Positive Financial Performance in Q2 2024, Stock Given 'Hold' Call.

Nidhi Granites, a microcap company in the mining and minerals industry, has recently announced its financial results for the quarter ending September 2024. The company's stock has been given a 'Hold' call by MarketsMOJO.

According to the financial report, Nidhi Granites has shown positive performance in the second quarter of the fiscal year 2024-2025. The company's score has improved from 19 to 18 in the last three months.

One of the key highlights of the financial report is the increase in net sales, which has reached its highest at Rs 12.10 crore in the last five quarters. This shows a positive trend in the company's sales in the near term. Additionally, the net sales have grown by 21.0% over the average net sales of the previous four quarters, indicating a positive growth trajectory.

The company has also shown a strong performance in terms of profit after tax (PAT), with the highest PAT of Rs 1.10 crore in the last five quarters. This reflects a positive trend in the company's profitability in the near term. The earnings per share (EPS) have also increased to its highest at Rs 1.38 in the last five quarters, indicating that the company has created higher earnings for its shareholders.

However, there are some areas that need improvement for Nidhi Granites. The non-operating income for the quarter is 87.69% of the profit before tax (PBT), which suggests that the company's income from non-business activities is high and may not be a sustainable business model. The debtors turnover ratio for the half-yearly period is also at its lowest in the last five periods, indicating a slower pace in settling debts. Additionally, the non-operating income has increased to its highest at Rs 1.14 crore in the last five quarters, which may not be sustainable in the long run.

Overall, Nidhi Granites has shown a positive financial performance in the quarter ending September 2024. However, there are some areas that the company needs to focus on for sustainable growth in the future. Investors are advised to hold their stocks in the company for now, as per the recommendation by MarketsMOJO.