A company of a “fundamentally strong” nature usually portrays a specific set of characteristics, some of which include strong & consistent financial performance, low leverage ratios, and many more.
Listed below are three such fundamentally strong stocks that their debt-to-equity ratio during the financial year ended March 2024:
Chennai Petroleum Corporation Limited
With a market capitalization of Rs 15,145.78 crores, the stocks of Chennai Petroleum Corporation Limited closed their trading session on Friday at Rs 1,017.10, gaining approximately 0.30 percent compared to the previous close of Rs 1,014 apiece.
Having a glance at the recent financials, the debt-to-equity ratio of the company, one of the most important leverage metrics followed by analysts, showed a reduction in numbers by around 47 percent, dipping from 0.58 times during FY22-23 to 0.31 times during FY23-24.
During the recent quarters, the company’s basic business parameters, viz, its operating revenues as well as after-tax profits, reported a jump in numbers with the former increasing from Rs 17,376 crores during Q3FY24 to Rs 17,720 crores during Q4FY24, and the latter, during the same period, rising sharply from Rs 360 crores to Rs 612 crores.
Dolat Algotech Limited
With a market capitalization of Rs 2,040.72 crores, the stocks of Dolat Algotech Limited Limited closed their trading session on Friday at Rs 115.95, slipping approximately 2.80 percent compared to the previous close of Rs 119.25 apiece.
Having a glance at the recent financials, the debt-to-equity ratio of the company, one of the most important leverage metrics followed by analysts, showed a reduction in numbers by around 50 percent, dipping from 0.22 times during FY22-23 to 0.11 times during FY23-24.
During the recent quarters, the company’s basic business parameters, viz, its operating revenues as well as after-tax profits, reported a jump in numbers with the former increasing from Rs 59 crores during Q3FY24 to Rs 88 crores during Q4FY24, and the latter, during the same period, rising sharply from Rs 41 crores to Rs 68 crores.
Jai Balaji Industries Limited
With a market capitalization of Rs 16,549.14 crores, the stocks of Jai Balaji Industries Limited closed their trading session on Friday at Rs 1,011.25, gaining approximately 0.85 percent compared to the previous close of Rs 1,002.70 apiece.
Having a glance at the recent financials, the debt-to-equity ratio of the company, one of the most important leverage metrics followed by analysts, showed a reduction in numbers by around 80 percent, dipping from 1.55 times during FY22-23 to 0.31 times during FY23-24.
During the recent quarters, the company’s basic business parameters, viz, its operating revenues as well as after-tax profits, reported a jump in numbers with the former increasing from Rs 1,539 crores during Q3FY24 to Rs 1,846 crores during Q4FY24, and the latter, during the same period, rising from Rs 235 crores to Rs 273 crores.
Written by Amit Madnani
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