Vardhman Special Steels reports mixed performance in Q2 FY24-25 financial results
Vardhman Special Steels, a smallcap company in the steel industry, 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, Vardhman Special's performance in Q2 FY24-25 has been relatively flat, with a score of 5 out of 10, compared to 8 in the previous quarter. However, there are some positive aspects to the company's financials.
The company's Profit After Tax (PAT) for the half-yearly period has shown a growth of 40.16% year on year, reaching Rs 51.90 crore. This indicates a positive trend in the near term. Additionally, the company's net sales for the quarter have been the highest in the last five quarters, at Rs 494.82 crore, with a positive sales trend in the near term.
On the other hand, there are some areas of concern for Vardhman Special based on the September 2024 financials. The company's Inventory Turnover Ratio for the half-yearly period has been the lowest in the last five periods, indicating a slowdown in the pace of selling inventory. The company's interest cost has also increased by 14.26% quarter on quarter, reaching the highest in the last five quarters. This suggests an increase in borrowings for the company. Additionally, the company's non-operating income has also increased, but it may not be sustainable as it comes from non-business activities.
Overall, Vardhman Special Steels has shown a mixed performance in the recent quarter, with some positive and negative aspects. Investors should carefully consider these factors before making any decisions regarding the company's stock.
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