Hi-Tech Gears Faces Mixed Performance Amid Technical Trend Shift and Debt Concerns
The Hi-Tech Gears, a small-cap player in the Auto Components & Equipment industry, has recently undergone an evaluation adjustment. This revision reflects a shift in the technical trend, moving from a sideways position to a mildly bullish stance. Key financial metrics indicate a mixed performance. The company's net sales for the latest quarter stood at Rs 214.88 crore, showing a decline of 14.0% compared to the previous four-quarter average. Additionally, the profit after tax (PAT) was reported at Rs 9.72 crore, down 19.8% from the previous average. The operating profit has grown at an annual rate of 12.25% over the last five years, although the overall growth remains modest with net sales increasing by only 5.12% annually.
Despite the recent technical adjustments, the company has faced challenges, including a high debt-to-EBITDA ratio of 2.82 times, which raises concerns about its ability to service debt. Furthermore, domestic mutual funds hold no stake in the company, suggesting a cautious outlook from institutional investors.
Overall, while The Hi-Tech Gears shows some technical improvement, its long-term fundamentals present challenges that warrant careful consideration.
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