Shaily Engineering Plastics Reports Strong Financial Performance in Q3 2024
Shaily Engineering Plastics, a midcap company in the plastic products industry, recently declared its financial results for the quarter ending September 2024. The company has shown a very positive performance in this quarter, with its score improving from 17 to 25 in the last three months.
One of the key factors contributing to this positive performance is the company's ability to manage interest payments, with the Operating Profit to Interest ratio being the highest at 8.89 times and growing each quarter in the last five quarters. This shows that the company's financial health is improving.
The company's net sales for the quarter were also at their highest at Rs 192.00 crore, with a positive trend in sales growth in the last five quarters. Similarly, the Operating Profit (PBDIT) for the quarter was also at its highest at Rs 40.26 crore, with a positive trend in the last five quarters.
The Profit Before Tax less Other Income (PBT) for the quarter was at its highest at Rs 25.49 crore, showing a growth of 46.6% over the average PBT of the previous four quarters. This indicates a very positive trend in the company's profitability.
The company's efficiency has also improved, with the Operating Profit Margin being the highest at 20.97% in the last five quarters. Additionally, the Profit After Tax (PAT) for the quarter was at its highest at Rs 21.92 crore, with a positive trend in the last five quarters.
However, there are some areas that need improvement for Shaily Engineering Plastics. The company's cash and cash equivalents have been at their lowest in the last six half yearly periods, indicating a deteriorating short-term liquidity. The Debtors Turnover Ratio has also been at its lowest in the last five half yearly periods, showing a slower pace in settling debts.
Overall, Shaily Engineering Plastics has shown a very positive financial performance in the quarter ending September 2024. With a hold call from MarketsMOJO, investors may want to keep an eye on the company's future performance.
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