The latest quarter saw Mohite Industries record its highest net sales at ₹51.77 crores, accompanied by a profit after tax (PAT) of ₹3.04 crores and earnings per share (EPS) of ₹1.51. Operating profit to interest ratio also reached a peak of 2.96 times, while profit before tax excluding other income (PBT LESS OI) stood at ₹1.52 crores, showing a significant change compared to the previous four-quarter average. These quarterly figures indicate a shift from the company’s prior very negative financial trend to a flat performance score of 2, up from -20 over the last three months.
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Despite these quarterly highlights, the company’s performance over the longer term presents challenges. PAT for the latest six months was ₹2.03 crores, reflecting a decline compared to prior periods. Net sales for the nine-month period stood at ₹112.20 crores, showing a contraction relative to historical figures. Additionally, the return on capital employed (ROCE) for the half-year was recorded at 5.71%, the lowest in recent times. Non-operating income accounted for 50% of profit before tax in the quarter, indicating a significant contribution from non-core activities.
Mohite Industries’ stock price closed at ₹2.96, up 2.78% from the previous close of ₹2.88, with intraday highs reaching ₹3.01. The stock’s 52-week range spans from ₹2.33 to ₹9.31, reflecting considerable volatility. When compared to the broader market, the stock’s returns have diverged sharply from the Sensex. Year-to-date, Mohite Industries recorded a negative return of 52.20%, while the Sensex gained 8.36%. Over the past year, the stock’s return was -66.69%, contrasting with the Sensex’s 9.48% gain. However, over longer horizons such as three and five years, the stock has outperformed the Sensex, with returns of 40.95% and 351.22% respectively, compared to 37.31% and 91.65% for the benchmark index.
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In summary, Mohite Industries’ recent quarterly data reveals a nuanced financial position. The flat financial trend score reflects a shift from prior negative evaluations, supported by peak quarterly sales and profitability metrics. However, the contraction in nine-month sales and half-year PAT, alongside a low ROCE, highlight ongoing operational challenges. Investors analysing Mohite Industries should consider these mixed signals in the context of the company’s historical performance and sector dynamics.
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