Platinum Industries Reports Positive Financial Results for Q1 FY25, Stock Receives 'Hold' Call

Platinum Industries, a smallcap company in the chemicals industry, has recently declared its financial results for the quarter ending March 2024. The stock has been given a ‘Hold’ call by MarketsMOJO.

According to the financials, Platinum Industries has shown a positive performance in the quarter, with a score of 17 compared to 1 in the previous 3 months. This indicates an improvement in the company’s financials.

One of the key factors contributing to this positive performance is the increase in net sales, which has grown by 55.3% to Rs 102.66 crore compared to the average net sales of the previous four quarters. This shows a strong sales trend in the near term.

The company has also seen a growth in its profit after tax (PAT) by 60.3% to Rs 17.52 crore compared to the average PAT of the previous four quarters. This indicates a positive trend in the near term for the company’s profitability.

Platinum Industries has also recorded its highest net sales and operating profit (PBDIT) in the last five quarters, showing a positive trend in these areas as well. The profit before tax (PBT) has also increased by 37.7% to Rs 19.21 crore compared to the average PBT of the previous four quarters.

The company’s earnings per share (EPS) have also seen an increase, reaching its highest at Rs 3.19 in the last five quarters. This shows that the company has been able to create higher earnings for its shareholders.

However, one area that may be a cause for concern is the increase in non-operating income, which has reached its highest at Rs 4.69 crore in the last five quarters. This may not be sustainable in the long term as it comes from non-business activities.

Overall, Platinum Industries has shown a positive financial performance in the quarter ending March 2024, with strong sales and profitability trends. Investors are advised to hold onto their stocks for now, as recommended by MarketsMOJO.