RACL Geartech's Financial Performance Shows Significant Decline in Q1 2024
RACL Geartech, a smallcap company in the auto ancillary industry, has recently declared its financial results for the quarter ending March 2024. According to the latest report, the company has seen a negative financial performance with a score of -11, a significant decrease from the previous quarter's score of 2.
One of the major concerns for RACL Geartech is its operating profit to interest ratio, which has reached its lowest point in the last five quarters at 3.44 times. This indicates a deteriorating ability to manage interest payments. Additionally, the company's profit before tax less other income (PBT) has fallen by 17% compared to the average PBT of the previous four quarters. This trend is expected to continue in the near term.
The company's profit after tax (PAT) has also seen a decline of 17% compared to the average PAT of the previous four quarters. This is a concerning trend for shareholders as it signifies a decrease in profitability. Furthermore, RACL Geartech's interest cost has increased by 12.21% quarter-on-quarter, indicating a rise in borrowings.
The PBT for the quarter has also reached its lowest point in the last five quarters, further highlighting the negative trend in the company's financial performance. The earnings per share (EPS) for the quarter have also decreased to its lowest point in the last five quarters, indicating a decline in profitability and lower earnings for shareholders.
Based on these financial results, MarketsMOJO has given a 'Sell' call for RACL Geartech's stock. Investors should closely monitor the company's financial performance in the coming quarters to make informed decisions.
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