Vedanta's Q3 Financial Results Show Mixed Performance, Investors Should Analyze Carefully
Vedanta, a largecap company in the non-ferrous metal industry, recently announced its financial results for the quarter ending December 2023. The company's stock has been given a 'Sell' call by MarketsMOJO.
According to the financials, Vedanta has seen a negative performance in the quarter, with a score of -17 compared to -13 in the previous 3 months. However, there are some positive aspects to the company's performance. The Profit After Tax (PAT) for the quarter was Rs 2,013.00 crore, showing a growth of 96.0% over the average PAT of the previous four quarters. This indicates a very positive trend in the near term.
On the other hand, there are some areas of concern for Vedanta. The Profit Before Tax less Other Income (PBT) for the quarter was Rs 3,326.00 crore, showing a decline of -15.5% over the average PBT of the previous four quarters. This indicates a very negative trend in the near term. Additionally, the company's interest cost has increased by 26.18% in the last half yearly period, indicating increased borrowings. The Debt-Equity Ratio, which is currently at its highest at 2.38 times, has been growing each half yearly period in the last five periods. This suggests that the company may be borrowing more to fund its operations, which could lead to a stressed liquidity situation.
Furthermore, the company's Cash and Cash Equivalents have been at their lowest at Rs 4,293.00 crore in the last six half yearly periods, indicating a deteriorating short term liquidity. Lastly, Vedanta's Non Operating Income for the quarter was at its highest at Rs 779.00 crore in the last five quarters. While this may seem positive, it is important to note that this income is from non-business activities and may not be sustainable.
Overall, Vedanta's financial performance for the quarter ending December 2023 has been mixed, with some positive and negative aspects. Investors should carefully consider these factors before making any investment decisions.
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