Technocraft Industries reports highest net sales in 5 quarters, but concerns remain
Technocraft Industries (India), a midcap company in the steel/sponge iron/pig iron industry, recently declared its financial results for the quarter ending September 2024. The stock call by MarketsMOJO for Technocraft Industries is 'Sell'.
According to the financials, the company has seen a negative performance in the second quarter of FY24-25, with a score of -10 compared to 0 in the previous quarter. However, there are some positive aspects to the company's financials.
The net sales for the quarter were the highest in the last five quarters at Rs 628.56 crore, indicating a positive trend in the near term. However, there are also some areas of concern for Technocraft Industries.
The interest cost for the quarter has increased by 26.85% quarter on quarter (QoQ) to Rs 13.89 crore, which suggests that the company has taken on more borrowings. The operating profit to interest ratio is at its lowest in the last five quarters, indicating a deteriorating ability to manage interest payments.
The profit before tax (PBT) less other income has fallen by 14.3% compared to the average PBT of the previous four quarters. The company's near term PBT trend is also negative. Additionally, the non-operating income for the quarter is 37.97% of the PBT, which suggests that the company's income from non-business activities is high and may not be sustainable.
Overall, while Technocraft Industries has seen a positive trend in net sales, there are some concerns regarding its increasing interest cost and non-operating income. Investors should carefully consider these factors before making any investment decisions.
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