Prakash Woollen & Synthetic Mills' Financial Report Shows Mixed Results for Q1 FY25

Prakash Woollen & Synthetic Mills, a microcap company in the textile industry, recently declared its financial results for the quarter ending March 2024. According to the latest report, the stock call for Prakash Woollen is ‘Sell’ by MarketsMOJO.

The company’s financial performance for the quarter has remained flat, with a score of 4 compared to 11 in the previous 3 months. However, there are some positive aspects to note from the Jun 2024 financials. The Profit After Tax (PAT) for the half-yearly period is higher at Rs 0.50 crore, compared to the preceding 12-month period which ended in Jun 2024 with a PAT of Rs -1.23 crore. This shows a significant improvement in the company’s profitability, with the half-yearly PAT already surpassing the previous 12 months.

Another positive aspect is the Debtors Turnover Ratio, which is at its highest in the last five half-yearly periods at 31.96 times. This indicates that the company has been able to settle its debtors at a faster rate.

However, there are also some concerning factors in the Jun 2024 financials. The interest cost for the nine-month period has grown by 126.54% to Rs 5.89 crore, indicating increased borrowings. Additionally, the net sales for the quarter have fallen by -15.49% Year on Year (YoY) to Rs 13.86 crore, showing a negative trend in the near term.

Overall, Prakash Woollen & Synthetic Mills has shown mixed results in its latest financial report. Investors should carefully consider these factors before making any investment decisions.