Rain Industries Reports Negative Performance in Q1, MarketsMOJO Calls for 'Strong Sell'
Rain Industries, a midcap company in the carbon black industry, recently announced its financial results for the quarter ending March 2024. The stock call by MarketsMOJO for Rain Industries is 'Strong Sell'.
According to the financial report, Rain Industries has seen a negative performance in the quarter, with a score of -17, which has improved from -29 in the last three months. The company's interest cost has increased by 49.79% over the preceding nine months period, indicating a rise in borrowings.
The quarterly net sales for Rain Industries have been consistently falling in the last five quarters, with the latest quarter recording the lowest at Rs 3,670.24 crore. The near-term sales trend for the company is negative. Additionally, the quarterly net sales have fallen by -19.1% compared to the average net sales of the previous four quarters, which were at Rs 4,535.37 crore.
The half-yearly Profit After Tax (PAT) for Rain Industries has also shown a negative trend, with a growth of -27.45% Year on Year (YoY). This indicates a negative near-term trend for the company's PAT.
Based on the financial results, MarketsMOJO has given a 'Strong Sell' call for Rain Industries. The company's performance in the quarter ending March 2024 has not been favorable, with a negative trend in interest cost, net sales, and PAT. Investors are advised to carefully consider these factors before making any investment decisions.
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