Saregama India's Q1 financials show mixed results, with positive sales trend and record high cash reserves

Saregama India, a midcap company in the lifestyle industry, recently declared 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, Saregama India has seen a flat performance in the quarter, with a score of -3 compared to 13 in the previous quarter. However, there are some positive aspects to the company's performance. The net sales for the half-yearly period have grown by 27.61% year on year, indicating a positive sales trend in the near term. Additionally, the company's cash and cash equivalents have reached a record high of Rs 542.09 crore in the last six half-yearly periods, showing an improvement in short-term liquidity.

On the other hand, there are some areas of concern for Saregama India. The profit before tax less other income (PBT) for the quarter has fallen by -25.6% compared to the average PBT of the previous four quarters. This indicates a very negative trend in the near term. Similarly, the profit after tax (PAT) for the quarter has also fallen by -25.3% compared to the average PAT of the previous four quarters. The company's PBT for the quarter is also the lowest in the last five quarters, showing a negative trend. The earnings per share (EPS) for the quarter have also declined, reaching the lowest in the last five quarters. This indicates a declining profitability and lower earnings for shareholders.

Overall, Saregama India's financial performance for the quarter ending June 2024 has been mixed, with some positive and negative aspects. Investors are advised to hold their positions in the company's stock, as per the recommendation by MarketsMOJO.