SRG Housing Finance Reports Positive Q1 Results, Debt to Equity Ratio at Highest Level
Debt to Equity Ratio - Quarterly: Highest at 2.6 and has been increasing over the last three quarters. This indicates that the company is relying more on debt to finance its operations. SRG Housing Finance, a microcap company in the finance-housing industry, recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Hold' call by MarketsMOJO.
According to the financial report, SRG Housing has shown positive performance in the quarter, with a score of 9 compared to 24 in the previous quarter. This is a significant improvement and indicates a positive trend for the company.
One of the key factors contributing to this positive performance is the growth in net sales, which has increased by 25.82% year on year to Rs 33.77 crore. This shows a strong sales trend for the company in the near term.
Another positive aspect is the growth in Profit Before Tax (PBT), which has increased by 28.27% year on year to Rs 6.67 crore. This indicates a positive trend in PBT for the near term.
The company's Profit After Tax (PAT) has also shown growth, increasing by 33.5% year on year to Rs 5.86 crore. This is a positive sign for the company's profitability in the near term.
However, there are some areas that need improvement for SRG Housing. The company's operating cash flow has been consistently falling over the last three years, with the latest figure at Rs -140.13 crore. This indicates a decline in cash revenues from business operations.
Additionally, the Debt to Equity Ratio has been increasing over the last three quarters and is currently at its highest at 2.6. This suggests that the company is relying more on debt to finance its operations, which could be a cause for concern.
Overall, SRG Housing Finance has shown positive financial performance in the quarter ending March 2024. However, there are some areas that need improvement, and investors should keep a close eye on the company's future financial reports.
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