Super Spinning Mills Shows Promising Growth in Financials for June 2024 Quarter

Super Spinning Mills, a microcap company in the textile industry, recently declared its financial results for the quarter ending March 2024. According to the report released on August 14, 2024, the stock call for Super Spinning is 'Sell' by MarketsMOJO.

The company's financial performance for the quarter has remained flat, with a score of 3 compared to -9 in the previous quarter. However, there are some positive aspects to the financials of Super Spinning based on the June 2024 results.

The Profit After Tax (PAT) for the nine-month period has shown a growth of 112.65% year on year, standing at Rs 1.60 crore. This is a very positive trend for the company. Additionally, the company has also shown a consistent growth in its operating cash flow over the last three years, with the highest being Rs 3.76 crore annually. This indicates that the company has generated higher cash revenues from its business operations.

The Earnings per Share (EPS) for the quarter has also shown a positive trend, with the highest being Rs -0.06 in the last five quarters. This shows an increase in profitability and higher earnings for shareholders. The company's short-term liquidity has also improved, with the cash and cash equivalents standing at Rs 8.62 crore in the last six half-yearly periods.

However, there are some areas where Super Spinning needs to work on based on the June 2024 financials. The net sales for the nine-month period have shown a decline of -87.48% year on year, indicating a negative trend in the near term. The Profit Before Tax less Other Income (PBT) for the quarter has also fallen by -56.2% compared to the average PBT of the previous four quarters. This shows a negative trend in the near term for PBT.

Despite these challenges, Super Spinning has shown a significant improvement in its financials, with a higher PAT of Rs 1.60 crore compared to the previous 12-month period. In fact, in the nine-month period, the company has already surpassed its sales from the previous 12 months. This shows a promising future for Super Spinning Mills.