Patels Airtemp's Q3 Financial Report Shows Mixed Results, 'Hold' Rating Given by MarketsMOJO

Patels Airtemp (India), a microcap engineering company, recently announced its financial results for the quarter ending September 2024. The company's stock has been given a 'Hold' rating by MarketsMOJO.

According to the financial report, Patels Airtemp's performance for the quarter was flat, with a score of 1 compared to 19 in the previous quarter. However, there are some positive aspects to the company's financials. The company has shown a consistent growth in its operating cash flow, with the highest amount of Rs 11.07 crore in the last three years. This indicates that the company has been able to generate higher cash revenues from its business operations.

Another positive aspect is the company's dividend per share (DPS), which has been consistently high at Rs 3.00 in the last five years. This shows that the company is distributing higher dividends from its profits.

On the other hand, there are some areas of concern in Patels Airtemp's financials. The interest cost has increased by 23.62% in the last nine months, indicating a rise in borrowings. The net sales for the quarter were at their lowest in the last five quarters, showing a negative trend in the company's sales. The operating profit and profit before tax have also shown a declining trend in the last five quarters.

The company's profit after tax for the quarter has fallen by 5.1% year on year, and the earnings per share have also decreased to their lowest in the last five quarters. This indicates a decline in profitability and lower earnings for shareholders.

Overall, Patels Airtemp's financial performance for the quarter has been flat, with some positive and negative aspects. Investors are advised to hold their stock and monitor the company's future financial reports for any changes in its performance.