Olectra Greentec's Q1 financial results show mixed performance, with positive sales and profits.

Olectra Greentec, a midcap company in the auto-truck industry, has recently declared its financial results for the quarter ending March 2024. The stock call for the company by MarketsMOJO is 'Hold'.

According to the financial report, Olectra Greentec has shown a flat performance in the quarter, with a score of 1 compared to -21 in the previous 3 months. However, there are some positive aspects to the company's performance.

The net sales for the quarter have grown by 45.33% year on year, reaching Rs 313.94 crore. This indicates a very positive sales trend in the near term. The profit after tax (PAT) for the quarter has also shown growth of 32.7% year on year, reaching Rs 24.00 crore. This suggests a positive trend in the near term for the company's profits.

Another positive aspect is the debtors turnover ratio, which is at its highest in the last five half yearly periods at 2.25 times. This shows that the company has been able to settle its debtors faster.

However, there are also some areas of concern for Olectra Greentec. The interest cost for the nine-month period has increased by 44.75% compared to the previous nine months, reaching Rs 35.71 crore. This signifies increased borrowings for the company.

Additionally, the inventory turnover ratio for the half yearly period has fallen each half year in the last five periods, reaching its lowest at 5.34 times. This indicates that the company's pace of selling inventory has slowed down.

Overall, Olectra Greentec's financial performance for the quarter ending March 2024 has been mixed, with some positive and negative aspects. Investors are advised to hold their stock and keep an eye on the company's future performance.