Ashnoor Textile Mills Shows Strong Sales Growth Amid Financial Challenges
Ashnoor Textile Mills, a microcap player in the textile industry, has recently undergone an adjustment in its evaluation. This revision reflects the company's financial metrics and market position, which have shown notable trends in recent quarters. In the third quarter of FY24-25, Ashnoor Textile reported a growth in net sales of 7.46%, contributing to a very positive financial performance. The company has consistently declared positive results over the last three consecutive quarters, with net sales for the half-year reaching Rs 87.62 crore, marking a significant growth of 41.69%. Additionally, profit before tax, excluding other income, stood at Rs 4.19 crore, showcasing a growth of 119.4% compared to the previous four-quarter average.
Despite these positive indicators, the company faces challenges with its long-term fundamental strength, highlighted by a debt-to-EBITDA ratio of 3.35 times, indicating a lower ability to service debt. The technical trend has been sideways, suggesting a lack of clear price momentum.
Overall, Ashnoor Textile Mills presents a complex picture, balancing strong recent performance against underlying financial challenges.
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