Investors are closely eyeing Ashiana Housing Ltd. as it boasts over 100% returns and exhibits signs of breakout potential. The stock’s recent performance has raised the question: Is this the opportune moment to invest in Ashiana Housing?
Weekly Chart Analysis
The weekly chart reveals a crucial phase for the stock. Trading at its all-time high, Ashiana Housing faces a resistance point dating back to 2015.
This situation sets the stage for a potential breakout. Sustained prices at these levels, coupled with increased volumes, could pave the way for an upward trajectory.
Quarterly Results
In a noteworthy development, Ashiana Housing reported a consolidated net profit after tax of Rs 27.35 crore in the quarter ending September 30, 2023. This marked a significant turnaround from the loss of Rs 1.81 crore in the corresponding quarter of the previous fiscal year. The company’s total income soared to Rs 351.02 crore, a remarkable growth of 282.71% from the previous year.
As of September 30, 2023, key financial metrics showcased a robust financial position:
- Net worth: Rs 729.70 crore
- Debt-equity ratio: 0.20
- Current liability ratio: 0.87
- Total debts to total assets: 0.07
- Operating margin: 11.43%
- Net profit margin: 7.79%
About the Company
Ashiana Housing primarily engages in Real Estate Development. The company’s core business model involves acquiring land, converting it into residential buildings, and subsequently selling the properties. With a focus on projects boasting gross margins exceeding 30%, Ashiana Housing targets inventory liquidation within a 5-7 year timeframe.
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