Suryalakshmi Cotton Mills' Financial Performance Shows Concerning Trends in Q2 2024
Suryalakshmi Cotton Mills, a microcap company in the textile industry, recently announced its financial results for the quarter ending September 2024. According to the report released on November 13, 2024, the company has seen a negative financial performance in the second quarter of the fiscal year 2024-2025.
The company's score has improved from -22 to -9 in the last three months, indicating a slight improvement. However, there are some areas that are not working in favor of Suryalakshmi Cotton Mills based on the September 2024 financials.
One of the major concerns is the company's Profit After Tax (PAT) for the nine-month period, which has decreased by 56.78% year on year, standing at Rs 2.84 crore. The near-term trend for PAT is also negative. Additionally, the company's Operating Profit to Interest ratio for the quarter is at its lowest in the last five quarters, indicating a deteriorating ability to manage interest payments.
Furthermore, the company's Operating Cash Flow for the year is at its lowest in the last three years, standing at Rs 19.41 crore. This suggests a decline in cash revenues from business operations. Another concerning factor is the Non-Operating Income for the quarter, which is 302.86% of the Profit Before Tax (PBT). This indicates a high income from non-business activities, which may not be a sustainable business model.
Lastly, the company's Earnings per Share (EPS) for the quarter is at its lowest in the last five quarters, standing at Rs -0.26. This shows a declining profitability and lower earnings for shareholders. Considering these factors, MarketsMOJO has given a 'Sell' call for Suryalakshmi Cotton Mills' stock.
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