Sreechem Resins reports strong financial performance in Q1, PAT improves significantly

Sreechem Resins, a microcap company in the chemicals industry, has recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Sell' call by MarketsMOJO.

According to the financial report, Sreechem Resins has shown positive performance in the quarter, with a score of 12 out of 20. This is a slight decrease from the previous quarter's score of 20, but still reflects a strong financial performance.

One of the key highlights of the financial report is the company's Profit After Tax (PAT) for the half-yearly period, which stands at Rs 0.89 crore. This is a significant improvement from the preceding 12-month period, which had a PAT of Rs -0.09 crore. This indicates a strong growth in profitability for Sreechem Resins.

However, the company's Net Sales for the quarter have fallen by 34.9% to Rs 8.62 crore, compared to the average Net Sales of the previous four quarters, which was Rs 13.25 crore. This decline in sales is a cause for concern and could be a result of various factors such as market conditions or competition.

Despite the decrease in sales, Sreechem Resins remains a promising player in the chemicals industry, with a strong financial performance in the recent quarter. Investors should keep an eye on the company's future financial reports to track its progress and make informed decisions.