Suryalata Spinning Mills Reports Mixed Financial Results for Q2 2024
Suryalata Spinning Mills, a microcap textile company, recently announced its financial results for the quarter ending September 2024. The company's stock has been given a 'Sell' call by MarketsMOJO.
According to the financial report, Suryalata Spinning Mills has seen a negative performance in the second quarter of the fiscal year 2024-2025. However, there has been a slight improvement in the company's score, which has gone from -23 to -10 in the last three months.
The company's net sales for the quarter were the highest in the last five quarters, standing at Rs 133.86 crore. This indicates a positive trend in the near term for the company's sales. Additionally, the dividend payout ratio (DPR) for the company has been the highest in the last five years at 7.15%, showing that the company is distributing a higher proportion of its profits as dividends.
On the other hand, there are some areas where Suryalata Spinning Mills needs to improve based on its financials. The profit after tax (PAT) for the first half of the fiscal year has decreased by 64.04% year on year, indicating a very negative trend in the near term. The company's operating cash flow has also been the lowest in the last three years, showing a decline in cash revenues from business operations.
The operating profit (PBDIT) for the quarter has also been the lowest in the last five quarters, with a negative trend in the near term. The company's operating profit margin has also deteriorated, standing at the lowest in the last five quarters at 5.83%. The profit before tax less other income (PBT) for the quarter has also been the lowest in the last five quarters, with a negative trend in the near term. The earnings per share (EPS) for the quarter have also decreased, indicating a decline in profitability and lower earnings for shareholders.
Overall, Suryalata Spinning Mills has shown a mixed performance in its financials for the quarter ending September 2024. Investors should carefully consider these factors before making any investment decisions.
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