Tamil Nadu Petro Products Reports Negative Financial Results for September 2024 Quarter
Tamil Nadu Petro Products, a microcap company in the petrochemical industry, recently announced its financial results for the quarter ending September 2024. The stock has been given a 'Strong Sell' call by MarketsMOJO.
The company's financial performance for the quarter has been very negative, with a score of -22 compared to -10 in the previous quarter. However, there are some positive aspects to the company's performance based on the September 2024 financials.
One of the strengths of T N Petro Prod. is its Debtors Turnover Ratio, which is the highest it has been in the last five half yearly periods at 22.32 times. This indicates that the company has been able to settle its debtors faster.
On the other hand, there are some areas where the company's performance has been lacking. The Profit Before Tax less Other Income (PBT) for the quarter was at Rs -0.57 crore, a decrease of 106.9% compared to the average PBT of the previous four quarters. The Profit After Tax (PAT) for the quarter was also at a low of Rs 5.98 crore, a decrease of 56.1% compared to the average PAT of the previous four quarters. The Operating Profit (PBDIT) for the quarter was at its lowest at Rs 7.32 crore and has been falling each quarter in the last five quarters. The Operating Profit Margin for the quarter was also at its lowest at 1.63%, indicating a deterioration in the company's efficiency.
Furthermore, the Non Operating Income for the quarter was at 107.40% of the Profit Before Tax (PBT), which suggests that the company's income from non-business activities is high and may not be a sustainable business model. The company's Cash and Cash Equivalents for the half yearly period ending September 2024 was at its lowest at Rs 372.83 crore, indicating a deterioration in short term liquidity.
Overall, the company's financial performance for the quarter has been negative, with a decline in key financial indicators. Investors should carefully consider these factors before making any investment decisions.
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