Omax Autos declines after Q4 loss

Omax Autos is engaged in making auto and non-auto components, specializing in sheet metal components, tubular components and machined components.

The stock price slipped 7.5% to hit the low point of the day at Rs.81.10 and currently hovers around Rs.82, down some 5.5%. Its 52-week high and low is at R.10.340 and Rs.57.25 respectively.

The company posted a set of very poor numbers for Q4FY17. Total revenue came in at Rs.260 crore and its total costs itself stood at Rs.260 crore. Thus after tax and interest, a loss was obvious.

It ended the quarter with a net loss of Rs.60 lakh v/s loss of Rs.3 crore in Q3. The company, for FY17 ended with a loss of Rs.2 crore v/s profit of Rs.8 crore.

The company’s borrowings stand at Rs.150 crore and cash is at Rs.29 crore.