Rishiroop Announces Mixed Financial Results for Q2 2024, PAT Shows Positive Trend

Rishiroop, a microcap company in the rubber products industry, recently announced its financial results for the quarter ending June 2024. The company's stock has been given a 'Hold' call by MarketsMOJO.

According to the financials, Rishiroop's performance has remained flat in the last quarter, with a score of 3 out of 10, a decrease from 7 in the previous 3 months. However, there are some positive aspects to the company's financials.

The company's Profit After Tax (PAT) for the quarter was the highest in the last five quarters at Rs 8.17 crore, showing a positive trend in the near term. The PAT has also grown by 35.3% over the average of the previous four quarters, indicating an increase in profitability and higher earnings for shareholders. Additionally, the Debtors Turnover Ratio for the half-yearly period was the highest in the last five periods, showing that the company has been able to settle its debtors faster.

On the other hand, there are some areas of concern for Rishiroop. The company's Operating Cash Flow has been decreasing each year for the last three years, with the latest figure being the lowest at Rs 7.17 crore. The Net Sales for the quarter have also fallen by -8.1% compared to the average of the previous four quarters, and the Operating Profit (PBDIT) for the quarter was the lowest in the last five quarters. The company's efficiency has also deteriorated, with the Operating Profit Margin being the lowest in the last five quarters.

Furthermore, the Non Operating Income for the quarter was 91.93% of the Profit Before Tax (PBT), indicating a high income from non-business activities, which may not be sustainable in the long run. The company's Short Term liquidity has also deteriorated, with the Cash and Cash Equivalents being the lowest in the last six half-yearly periods. Lastly, the Non Operating Income for the quarter was the highest in the last five quarters, which may not be a sustainable business model.

Overall, Rishiroop's financial performance for the quarter ending June 2024 has been mixed, with some positive and negative aspects. Investors are advised to hold their stock and keep an eye on the company's future financial results.