Phyto Chem (India) Reports Decline in Financial Performance, Receives 'Strong Sell' Rating

Phyto Chem (India), a microcap company in the pesticides and agrochem industry, recently announced its financial results for the quarter ending March 2024. The results, declared on May 30, have received a 'Strong Sell' call from MarketsMOJO.

According to the financial report, Phyto Chem (I) has seen a significant decline in its performance, with a score of -21 compared to -2 in the previous quarter. This indicates a very negative trend in the company's financials.

One of the major factors contributing to this decline is the Profit Before Tax less Other Income (PBT) which has fallen by -3058.33% year on year, standing at Rs -3.79 crore. The Profit After Tax (PAT) has also seen a sharp decline of -1525.0% year on year, with a value of Rs -1.71 crore. This indicates a very negative trend in the near term for both PBT and PAT.

The company's Net Sales for the half-yearly period have also shown a decline of -45.89% year on year, with a value of Rs 6.97 crore. This further supports the negative trend in the company's financial performance.

In terms of operating profit, Phyto Chem (I) has recorded its lowest value in the last five quarters, standing at Rs -3.29 crore. This indicates a negative trend in the near term for the company's operating profit.

Overall, the financial results for the quarter ending March 2024 have not been favorable for Phyto Chem (India). With a 'Strong Sell' call from MarketsMOJO, investors may want to closely monitor the company's performance in the coming quarters.