Ritesh International Reports Positive Financial Performance in Q2 2024, Debtors Turnover Ratio a Concern

Ritesh International, a microcap company in the chemicals industry, has recently announced its financial results for the quarter ending March 2024. The results have been declared on August 9, 2024.

According to MarketsMOJO, a leading stock analysis platform, the stock call for Ritesh Intl. is currently 'Sell'. However, the company has shown positive financial performance in the quarter ending June 2024, with a score improvement from 4 to 9 in the last 3 months.

One of the key factors contributing to this positive performance is the company's net sales, which have reached a high of Rs 26.41 crore in the last five quarters. This is a 26.3% growth over the average net sales of the previous four quarters. The operating profit (PBDIT) has also seen a significant increase, reaching a high of Rs 0.53 crore in the last five quarters.

The profit before tax (PBT) and profit after tax (PAT) have also shown positive trends, reaching their highest levels in the last five quarters. This indicates that the company is creating higher earnings for its shareholders, with an earnings per share (EPS) of Rs 0.16, the highest in the last five quarters.

However, one area of concern for Ritesh Intl. is its debtors turnover ratio, which has reached its lowest level in the last five half-yearly periods. This suggests that the company's pace of settling its debtors has slowed down.

Overall, Ritesh International has shown a positive financial performance in the quarter ending June 2024, with increasing profitability and higher earnings for shareholders. However, investors should also consider the company's debtors turnover ratio before making any investment decisions.