Shanthi Gears' Q1 financials show growth in profits, but decrease in debtors turnover
Shanthi Gears, a smallcap company in the auto ancillary industry, has recently declared its financial results for the quarter ended June 2024. The company's stock has been given a 'Hold' call by MarketsMOJO.
According to the financials, Shanthi Gears has shown a flat performance in the quarter, with a score of 2 out of 4, which is a decrease from the previous quarter. However, there are some positive aspects to the company's performance.
The Profit After Tax (PAT) for the half-yearly period has shown a growth of 25.94% year on year, reaching Rs 47.34 crore. This indicates a positive trend in the near term. Additionally, the company has been distributing higher dividends to its shareholders from the profits generated.
On the other hand, the Debtors Turnover Ratio for the half-yearly period has decreased to 4.54 times, which is the lowest in the last five half-yearly periods. This suggests that the company's pace of settling its debtors has slowed down.
Overall, Shanthi Gears has shown a mixed performance in the quarter ended June 2024. Investors are advised to hold their positions in the stock, as per the recommendation by MarketsMOJO.
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