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Alok Industries, a midcap textile company, recently declared its financial results for the quarter ending September 2024. The stock call by MarketsMOJO for Alok Industries is ‘Strong Sell’.
According to the financial report, Alok Industries has seen a negative performance in the quarter, with a score of -9 compared to 0 in the previous 3 months. This decline can be attributed to various factors.
One of the major concerns for Alok Industries is its net sales, which have fallen by 26.7% to Rs 1,006.30 crore in the quarter, compared to the average net sales of the previous four quarters at Rs 1,372.90 crore. This indicates a very negative trend in the near term for the company’s sales.
Moreover, the company’s profit after tax (PAT) for the nine-month period has also shown a decline of 20.44% year on year, with a PAT of Rs -652.72 crore. This further adds to the negative trend in the company’s financial performance.
In addition, Alok Industries has also seen a decrease in its debtors turnover ratio, which is at its lowest in the last five half-yearly periods at 11.82 times. This indicates a slowdown in the company’s pace of settling its debtors.
Overall, Alok Industries has reported a negative financial performance for the quarter ending September 2024. Investors should take note of these factors before making any investment decisions.