Sanghi Industries Reports Negative Financial Performance in Q2 2024, Debtors Turnover Ratio Remains Strong
Sanghi Industries, a smallcap cement company, recently announced its financial results for the quarter ending September 2024. The stock has been given a 'Strong Sell' call by MarketsMOJO.
The company has seen a negative financial performance in the second quarter of the fiscal year 2024-25, with a score of -9 compared to -2 in the previous quarter. However, there are some positive aspects to the company's financials based on the September 2024 results.
One of the strengths of Sanghi Industries is its Debtors Turnover Ratio, which is the highest at 39.09 times in the last five half yearly periods. This indicates that the company has been able to settle its debtors at a faster rate.
On the other hand, there are some areas of concern for the company. The Net Sales for the quarter have fallen by -31.0% to Rs 151.50 crore, compared to the average Net Sales of the previous four quarters at Rs 219.41 crore. This shows a negative trend in near term sales.
Another issue is the company's Operating Cash Flow, which has been the lowest at Rs -243.33 crore and has fallen each year in the last three years. This indicates that the company's cash revenues from business operations are declining.
The Debt-Equity Ratio for the half yearly period is the highest at 3.25 times and has grown each half year in the last five periods. This suggests that the company is borrowing more to fund its operations, which may lead to a stressed liquidity situation.
In addition, the Net Sales for the quarter have been the lowest at Rs 151.50 crore in the last five quarters, showing a negative trend in near term sales. The Non Operating Income for the quarter has been the highest at Rs 12.38 crore in the last five quarters, but this increase in income from non-business activities may not be sustainable.
Overall, Sanghi Industries has seen a negative financial performance in the recent quarter, with some strengths and weaknesses in its financials. Investors should carefully consider these factors before making any investment decisions.
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