Shyam Century Ferrous Reports Negative Financial Performance in Q3 2024
Shyam Century Ferrous, a microcap company in the metal-ferrous industry, recently declared its financial results for the quarter ending September 2024. According to the data released on November 8, 2024, the stock has been given a 'Strong Sell' call by MarketsMOJO.
The company's financial performance for the quarter has been negative, with a score of -10, which is an improvement from the previous quarter's score of -16. This indicates that the company has been facing challenges in its operations.
One of the major factors contributing to this negative performance is the decline in Profit Before Tax (PBT) less Other Income. The PBT for the quarter was at Rs -6.21 crore, which is a significant decrease of 95.3% compared to the average PBT of the previous four quarters, which was Rs -3.18 crore. This trend is expected to continue in the near term.
The company's net sales for the nine-month period have also seen a decline of 24.85% year on year, standing at Rs 99.08 crore. This indicates a negative trend in the company's sales performance in the near term. Similarly, the Profit After Tax (PAT) for the same period has also decreased by 24.85% year on year, standing at Rs -6.71 crore.
The company's operating profit (PBDIT) for the quarter was at its lowest in the last five quarters, standing at Rs -4.95 crore. This indicates a negative trend in the company's operating profit in the near term. The operating profit margin for the quarter was also at its lowest in the last five quarters, standing at -15.59%. This indicates a decline in the company's efficiency.
Overall, Shyam Century Ferrous has seen a negative financial performance in the quarter ending September 2024. With a 'Strong Sell' call from MarketsMOJO, investors may want to carefully consider their investment decisions in this company.
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