Kriti Nutrients Reports Flat Q2 FY24 Performance Amid Declining Profit After Tax

Kriti Nutrients, a microcap player in the refined oil and vanaspati industry, has recently undergone an evaluation adjustment reflecting its current market dynamics. The company reported flat financial performance for the second quarter of FY24, with net sales growing at an annual rate of 6.96% and operating profit at 19.52% over the past five years. However, the latest quarterly results indicate a decline in profit after tax, which stood at Rs 9.56 crore, marking a decrease of 18.6%. Additionally, the PBDIT reached its lowest point at Rs 12.31 crore, and the operating profit to net sales ratio was recorded at 7.09%.
Despite its low debt-to-equity ratio of 0.06 times, which suggests a manageable level of debt, the stock has faced challenges in the market. Over the past year, Kriti Nutrients has underperformed compared to the broader market, generating negative returns of 9.18% while the BSE 500 index yielded returns of 7.28%. The company's return on equity stands at 23.5, indicating an attractive valuation with a price-to-book ratio of 2.8.

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