During the latest quarter, Swati Projects reported its highest quarterly net sales at ₹23.61 crores, accompanied by a peak PBDIT of ₹6.66 crores. The operating profit to net sales ratio also reached a quarterly high of 28.21%, signalling a strong operational efficiency relative to revenue. Profit before tax excluding other income stood at ₹6.63 crores, while the net profit after tax was recorded at ₹3.88 crores, both marking the highest levels in recent quarters. Earnings per share for the quarter were ₹3.84, underscoring the company’s earnings performance on a per-share basis.
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Return on capital employed (ROCE) for the half-year period reached 36.54%, the highest recorded in recent evaluations, indicating effective capital utilisation. However, the debtors turnover ratio for the half-year was noted at 7.24 times, the lowest in the recent period, which may suggest a slower collection cycle relative to past performance. Market capitalisation remains modest with a grade of 4, reflecting the company’s micro-cap status within the NBFC sector.
Swati Projects’ stock price closed at ₹38.48 on the latest trading day, down 4.99% from the previous close of ₹40.50. The stock’s 52-week high and low stand at ₹131.70 and ₹19.60 respectively, with intraday trading ranging between ₹38.48 and ₹42.52. Despite recent volatility, the stock’s short-term returns have outpaced the Sensex benchmark, with a one-week return of 15.42% compared to Sensex’s 0.96%, and a one-month return of 28.48% against Sensex’s 0.86%. However, year-to-date and one-year returns show a contrasting trend, with Swati Projects posting negative returns of -37.23% and -70.78% respectively, while the Sensex recorded positive returns of 8.36% and 9.48% over the same periods.
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Comparing Swati Projects’ returns with the broader market index highlights a divergence in performance trends. While the Sensex has maintained steady growth over one, three, five, and ten-year horizons, Swati Projects’ recent returns have shown considerable fluctuation, reflecting the challenges faced by micro-cap NBFCs in the current economic environment. The company’s financial trend adjustment to very positive in the latest quarter suggests a potential inflection point, though investors should weigh this against the broader market context and the company’s historical volatility.
In summary, Swati Projects’ recent quarterly results demonstrate a marked shift in key financial parameters, including revenue, profitability, and capital efficiency. The adjustment in its financial trend parameter from flat to very positive aligns with the highest quarterly figures recorded in several metrics. However, certain operational aspects such as debtor turnover warrant continued observation. The stock’s recent price movements and returns relative to the Sensex provide additional context for investors assessing the company’s position within the NBFC sector.
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