Shyam Century Ferrous Reports Negative Financial Performance in Q1 2024

Shyam Century Ferrous, a microcap company in the ferrous metal industry, recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Strong Sell' rating by MarketsMOJO.

According to the financial report, Shyam Century has seen a negative performance in the quarter, with a score of -16, which is a slight improvement from the previous quarter's score of -17. This indicates that the company is facing some challenges in its operations.

One of the major factors contributing to this negative performance is the decline in net sales. The company's net sales for the quarter were at Rs 26.55 crore, which is a decrease of 23.1% compared to the average net sales of the previous four quarters. This trend is expected to continue in the near term, as the company's sales have been consistently declining.

The company's profit after tax (PAT) for the half-yearly period also saw a decline of 36.05% year on year, with a negative trend in the near term. The operating profit (PBDIT) for the quarter was at its lowest in the last five quarters, at Rs -3.51 crore. This indicates a negative trend in the company's operating efficiency.

The operating profit margin for the quarter was also at its lowest in the last five quarters, at -13.22%. This shows a deterioration in the company's efficiency. The profit before tax (PBT) less other income for the quarter was also at its lowest in the last five quarters, at Rs -4.48 crore, with a negative trend in the near term.

The earnings per share (EPS) for the quarter were at its lowest in the last five quarters, at Rs -0.13. This indicates a decline in profitability and lower earnings for shareholders.

Overall, Shyam Century Ferrous has reported a negative financial performance for the quarter ending March 2024. Investors should carefully consider these factors before making any investment decisions.