Ramkrishna Forgings Reports Positive Financial Results for Q2 FY25, Hold Stock: MarketsMOJO
Ramkrishna Forgings, a midcap company in the castings/forgings industry, recently announced its financial results for the quarter ending September 2024. The stock call by MarketsMOJO for the company is ‘Hold’.
According to the financials, Ramkrishna Forgings has shown a positive performance in the quarter, with a steady score over the last three months. The company’s Profit After Tax (PAT) for the quarter was Rs 124.87 crore, which is a significant growth of 46.8% compared to the average PAT of the previous four quarters at Rs 85.07 crore. This indicates a very positive trend in the near term for the company’s profitability.
The company’s Operating Profit (PBDIT) for the quarter was also at its highest in the last five quarters, at Rs 232.74 crore. This shows a positive trend in the near term for the company’s operating profit. Similarly, the PAT for the quarter was also at its highest in the last five quarters, at Rs 124.87 crore, indicating a positive trend in the near term for the company’s profitability. The Earnings per Share (EPS) for the quarter was also at its highest in the last five quarters, at Rs 10.50, showing an increase in profitability and higher earnings for shareholders.
However, there are some areas where Ramkrishna Forgings needs to improve based on its September 2024 financials. The Profit Before Tax less Other Income (PBT) for the quarter was at its lowest in the last five quarters, at Rs 51.91 crore, which is a decrease of -51.4% compared to the average PBT of the previous four quarters at Rs 106.76 crore. This indicates a very negative trend in the near term for the company’s PBT. The PBT for the quarter was also at its lowest in the last five quarters, showing a negative trend in the near term.
Overall, Ramkrishna Forgings has shown a positive financial performance in the quarter ending September 2024, with a steady score and growth in key areas. However, there are some areas that need improvement, and investors are advised to hold their stock for now, according to MarketsMOJO.
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