Swadeshi Polytex Reports Negative Performance in Q2 2024, Non-Operating Income a Concern
Swadeshi Polytex, 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, Swadeshi Polytex has seen a negative performance in the second quarter of the fiscal year 2024-2025. The company's score has fallen from 6 to -8 in the last three months.
However, there are some positive aspects to the company's financials. Swadeshi Polytex has shown a strong operating cash flow, with an annual revenue of Rs 43.87 crore and consistent growth over the past three years.
On the other hand, the company's profit after tax (PAT) for the first half of the year has decreased by 95.84% compared to the previous year. This trend is expected to continue in the near term. Additionally, the company's non-operating income is significantly higher than its profit before tax (PBT), indicating a reliance on non-business activities for income.
In the last five quarters, Swadeshi Polytex has also seen a significant increase in its non-operating income, which may not be sustainable in the long run.
Overall, Swadeshi Polytex's financial performance for the quarter ending September 2024 has been negative, with some concerning trends. Investors are advised to carefully consider these factors before making any investment decisions.
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