Sonal Mercantile reports positive financial results for Q1 2024, with growth in key metrics
Sonal Mercantile, a microcap finance company, has recently announced its financial results for the quarter ended March 2024. The company has shown a positive performance with a score of 19, an improvement from 13 in the last 3 months.
One of the key highlights of the financials is the growth in Profit Before Tax less Other Income (PBT) which has increased by 40.0% to Rs 4.97 crore compared to the average PBT of the previous four quarters which was Rs 3.55 crore. This indicates a very positive trend in the near term for PBT.
Another positive aspect is the growth in Profit After Tax (PAT) which has been the highest at Rs 7.32 crore and has shown growth in each quarter of the last five quarters. This also reflects a very positive trend in the near term for PAT.
The company has also seen a growth in Net Sales, which has been the highest at Rs 10.26 crore in the last five quarters, indicating a positive trend in the near term for sales. The Operating Profit (PBDIT) has also been the highest at Rs 9.98 crore in the last five quarters, showing a positive trend in the near term.
Sonal Mercantile has also reported the highest PBT of Rs 4.97 crore in the last five quarters, indicating a positive trend in the near term for PBT. The company has also shown an increase in Earnings per Share (EPS) which has been the highest at Rs 4.97 in the last five quarters, showcasing a higher profitability and creating value for shareholders.
However, the company's Debt-Equity Ratio has been the highest at 1.13 times in the last five half yearly periods, indicating that the company is borrowing more to fund its operations. This may lead to a stressed liquidity situation for the company.
Overall, Sonal Mercantile has shown a positive financial performance in the quarter ended March 2024, with an increase in key financial metrics. However, the high Debt-Equity Ratio is a cause for concern and needs to be monitored closely. MarketsMOJO has given a 'Hold' call for the stock based on these financial results.
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