Rajapalayam Mill's Financial Results Show Negative Performance, 'Sell' Call Given by MarketsMOJO
Rajapalayam Mill, a microcap textile company, has recently declared its financial results for the quarter ending December 2023. According to the report, the company has seen a very negative performance with a score of -22, which has fallen from -11 in the last three months.
The profit before tax (PBT) less other income for the quarter has fallen by -842.05% year on year (YoY) to Rs -21.00 crore. This trend is expected to continue in the near term. Similarly, the profit after tax (PAT) for the quarter has also fallen by -111.6% YoY to Rs -0.91 crore, indicating a very negative trend in the near term.
The net sales for the quarter have grown at a negative rate of -8.95% YoY to Rs 202.64 crore. This is a concerning trend for the company. Additionally, the interest cost for the quarter has increased by 23.92% quarter on quarter (QoQ) to Rs 20.98 crore, which is the highest in the last five quarters. This signifies increased borrowings for the company.
Moreover, the PBT less other income for the quarter is at its lowest at Rs -21.00 crore in the last five quarters, indicating a negative trend in the near term. The earnings per share (EPS) for the quarter is also at its lowest at Rs 2.75 in the last five quarters, showing a decline in profitability and lower earnings for shareholders.
The company's non-operating income for the quarter is at its highest at Rs 3.01 crore in the last five quarters. However, this increase in income from non-business activities may not be sustainable.
Based on these financial results, MarketsMOJO has given a 'Sell' call for Rajapalayam Mill's stock. Investors should carefully consider these factors before making any investment decisions.
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