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TCS Salary Hikes on Hold
Business, Equities, Market News, Markets, Research, Result Updates - August 17, 2022

Greaves cotton limited Q1 FY23 Result Updates. Two-fold jump in revenue; net profit at Rs. 16 crores.

Greaves cotton limited Q1 FY23 Result Updates.
Two-fold jump in revenue; net profit at Rs. 16 crores.

Greaves cotton limited reported a net profit of Rs. 16 crores as compared to a loss of Rs 22.48 crore in Q1 FY22. The net profit margin stood at 2.4%.
The consolidated net sales rose more than two-fold to Rs 660.19 crore in the reporting quarter, up by 188% YoY from Rs 228.97 crore in Q1 FY22 and 6% QoQ.
Segment-wise, revenue from the engine business increased to Rs 346.70 crore during the quarter compared to Rs 196.20 crore, while income from the electric mobility business stood at Rs 281.23 crore against Rs 14.48 crore a year ago.
The company recorded strong year-on-year growth across verticals with new businesses accounting for 56% of the overall top line during the April-June period of FY23. The Company reported improved growth in profit with EBITDA at Rs. 38 crores and an EBITDA margin of 5.8%. The net cash stood at Rs. 1348 crores.

Consistent Growth riding on strong brand traction and improved efficiency.

The retail sales of the EMobility business stood at 29,577 units for this quarter, up by 19 % against Q4FY22.
Ampere increased its market share to 15.5% as of the end of June 2022 and emerged as the No.2 player in the e2W segment. The quarter-on-quarter performance growth is led by the company’s key business milestones such as rolling out the 50,000th Ampere electric scooter from the newly set up Ranipet facility, completion of growth capital infusion with Abdul Jameel Latif’s investment under the Electric Mobility segment, expansion of the multi-brand EV retail stores and higher earnings from the non-auto engine business.
Electric Mobility accounts for 43% of overall revenue. Ampere continues to be one of the fast-growing E-Mobility brands with Y-o-Y growth of 1841%; QoQ growth of 19%. E-Mobility registered sales volumes of 29k units in Q1 FY23.
Non-Auto Engines registered YoY growth of 53%.
Engines business registered YoY growth of 88%; QoQ up 7%. Auto Engines volume grew to 40000 units, highest in the last 5 quarters.
Financial Results reflect the success of Greaves’ Diversification Strategy. The diversification strategy has delivered a consistent growth rate despite market headwinds. Investment in E-Mobility to be utilized for new products, associated technologies, brand building and to enhance manufacturing capacity in E2W / E3W. The contribution of B2C business to the overall business has grown by 52%+ YoY compared to Q1FY22

The shares of Greaves cotton limited are trading at Rs. 174.40, up by 0.84%.

Valuations:

The return on equity (ROE) is -4.59 for the quarter ended June 2022. The return on capital employed (ROCE) for the company is -0.97%. The price to book value of Greaves cotton Limited is 5.32. The EV/EBITDA is 34.2. EPS for the quarter is Rs. 0.14.

Lumax recorded its biggest ever profit.

 

Ajmera Realty reported total revenue of Rs. 55 Cr. in Q1 FY23.

 

J B Chemicals and Pharmaceuticals Limited  Q1 FY23 Result Updates. Higher treasury income and other costs hamper net profit.

 

 

Indigo Paints revenue up from Rs.156 Cr to Rs.223.99Cr.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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TCS Salary Hikes on Hold
Business, Equities, Market News, Markets, Research, Result Updates - August 16, 2022

The Phoenix Mills Limited Q1 FY23 Result Updates. Strong consumption growth; Net profit at Rs.718 crores.

The Phoenix Mills Limited Q1 FY23 Result Updates.
Strong consumption growth; Net profit at Rs.718 crores.

The Phoenix Mills reported net profit of Rs 718 crores net profit in the June quarter against loss of Rs 26.2 crore in June 2021.
Income from operations for the quarter increased by 181% YoY to Rs 574.4 crore and operating profit jumped by 324% YoY to Rs 322.9 crore. The company’s retail consumption soared by 123% during the quarter to Rs 2,190.5 crores, which is at 123% of the pre-Covid period of first quarter of 2019-20. Total consumption for the quarter rose 133% to Rs 792 crore.
Retail collections is at Rs. 5,25.3 crores for June 2022 compared to Rs. 4,76.2 crores in the previous quarter. Year-to-date Gross consumption stood at is Rs. 29,82.4 crores, at 126% of April to July 2019.
Q1 FY23 Rental Income at 124% of Q1 FY20 (pre-Covid quarter) and Retail EBITDA at 127% of Q1 FY20 (pre-Covid quarter). The incremental Revenue Share contributed 13% to Total Rental Income vs. 10% in Q1 FY20. Total Office Income stood at Rs. 40.3 crores and total EBITDA stood at Rs. 23.5 crores.
Sales trajectory has seen good improvement driven by strong demand and faster conversions. Sales stands at Rs. 70.4 crores in Q1 FY23 which is the strongest Q1 in last 5 years [Q1 FY20: sales of Rs. 6.6 crores] . Further, closed sales of Rs. 30 crores in July and August, taking year to date residential sales to Rs. 1,00 crores . Collections in Q1FY23 were Rs. 53.6 crores .

The Hospitality segment witnessed robust all-round performance.

The Hospitality segment witnessed strong all-round performance in terms of room occupancy, average room rates, demand for social and corporate events and bars and restaurants. Average occupancy during the quarter for flagship property St. Regis was at 85%, with Average room rate (ARR) at Rs 11,997. Revenue for the quarter is 26% ahead of revenue for the pre-Covid comparable period of the first quarter of 2019-20.
The operating performance at the St Regis, Mumbai has surpassed most parameters in the past four months, led by resumption of foreign travel, domestic corporate travel, social events and staycations.
In the residential segment, overall sales stood at Rs 70.4 crore during the quarter and over Rs 100 crore as on year to date.
During the quarter, the company generated operating free cash flow of Rs 254.3 crores.
In the commercial segment, the company witnessed strong leasing traction during the quarter with gross leasing of 1.9 lakh sq ft. Income from office segment rose up 10% from a year ago to Rs 40.3 crore led by rental contribution from Fountainhead Tower 2.
Strong leasing traction continues during Q1 FY23. The company achieved gross leasing of 1.9 lakh sf during current quarter, of which 1.3 lakh sf is new leasing and 0.6 lakh sf is renewal leasing.

The shares of The Phoenix Mills Limited are trading at Rs. 1362, up by 3.78%.

Valuations:

The return on equity (ROE) is 4.14% for the quarter ended June 2022. The price-to-earning (P/E) ratio stood at 51.3. The return on capital employed (ROCE) for the company is 6.38%. The price to book value The Phoenix Mills Limited is 3.65. The EV/EBITDA is 25.9. EPS for the quarter is Rs. 55.2.
The company’s consolidated net debt stood at Rs 2,009 crore, while the group’s liquidity as on June end was Rs 2,177.2 crore, excluding funds available in revolving credit facilities.

Lumax recorded its biggest ever profit.

 

Ajmera Realty reported total revenue of Rs. 55 Cr. in Q1 FY23.

 

J B Chemicals and Pharmaceuticals Limited  Q1 FY23 Result Updates. Higher treasury income and other costs hamper net profit.

 

 

Indigo Paints revenue up from Rs.156 Cr to Rs.223.99Cr.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Bharat Forge Ltd Q1 FY23 Result Updates.
Business, Equities, Market News, Markets, Research, Result Updates - August 13, 2022

Bharat Forge Ltd Q1 FY23 Result Updates. Standalone revenue and EBITDA witnessed steady growth on a sequential basis.

Bharat Forge Ltd Q1 FY23 Result Updates.
Standalone revenue and EBITDA witnessed steady growth on a sequential basis.

Bharat Forge reported a consolidated net profit of Rs 160.37 crores as compared to Rs.152.74 crores in June 2021 and Rs. 231.85 crores in the March quarter.
Revenue from operations stood at Rs. 2851.46 crores from Rs. 2107.68 crores.
The total expenses during the June quarter were Rs. 2643.95 crores as compared to Rs. 1874.24 in June 21.
At a consolidated level, the European operations have delivered a stable performance as per plan, inspite of high input prices and weak market conditions.

According to Bharat Forge the consolidated results are not comparable with those of the last fiscal due to its alignment of accounting periods of all the subsidiaries, associates and joint ventures for a better presentation of the operating performance of the group.

The company’s standalone performance in Q1 FY23 was steady with revenue and EBITDA witnessing growth on a sequential basis. Topline grew by 5.1% to Rs 17,594 million while EBITDA grew by 6.8% to Rs 4,600 million. Export revenues at Rs 10,475 million and PV export revenues at Rs 1,942 million are at an all time high.
Standalone revenues at Rs 17,594 million in Q1FY23 grew by 5.10% as compared to Q4 FY22 on back of 11.5% growth in Export revenues. Domestic revenues declined by 3.7% due to decline in MHCV production during the quarter. EBITDA margins at 26.1% in the current quarter is a marginal improvement of 40 bps as compared to Q4 FY22 despite a sharp increase in energy cost. PBT before Exchange gain/ (loss) of Rs 3,532 million in Q1 FY23 as against Rs 3,520 million in Q4 FY22.

India automotive business witnessed a sequential decline in revenue in line with the underlying market drop.

MHCV & PV production during the quarter declined by 10% & 4% respectively. In line with the underlying market decline, BFL’s revenues into these segments also witnessed sequential decline. India automotive business witnessed a sequential decline in revenue in line with the underlying market drop as production of medium and heavy commercial vehicles and passenger vehicles in the industry fell.
However, automotive export revenue grew, driven by both commercial and passenger vehicle segments, adding in Europe, the geo-political crisis impacted overall demand and supply chain. The Indian operations secured new business worth around Rs 350 crore across automotive and industrial applications during the period.
The India industrial business continues to display stable performance with the segment registering growth on a YoY basis while witnessing a marginal dip compared to the previous quarter.

The international automotive export revenues has witnessed growth on both QoQ & YoY basis across Commercial & Passenger Vehicle segments. Revenues from the CV segment has grown by 13.5% sequentially while the PV segment revenues have grown by 13.8% sequentially. PV revenues at Rs 1,942 million. Heavy Truck registration is marginally up while the Passenger Vehicle segment is down 14%. The geo-political crisis has had an impact on overall demand and on the supply chain.
The international industrial segment has witnessed growth on both Sequential and YoY basis driven by growth in key sectors.
The new greenfield aluminium forging facility in North America is still in a ramp-up phase and operating at low utilisation levels, which has adversely impacted the overall quarterly profitability.

The shares of Bharat Forge Ltd are trading at Rs. 790.60, up by 7.43%.

Valuations:

The return on equity (ROE) is 15.4% for the quarter ended June 2022. The price-to-earning (P/E) ratio stood at 38.3. The return on capital employed (ROCE) for the company is 11.5%. The price to book value Bharat Forge Ltd is 5.60. The EV/EBITDA is 19.6. EPS for the quarter is Rs. 23.5.

Lumax recorded its biggest ever profit.

 

Ajmera Realty reported total revenue of Rs. 55 Cr. in Q1 FY23.

 

J B Chemicals and Pharmaceuticals Limited  Q1 FY23 Result Updates. Higher treasury income and other costs hamper net profit.

 

 

Indigo Paints revenue up from Rs.156 Cr to Rs.223.99Cr.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Syngene International Ltd Q1FY24 results updates
Business, Equities, Market News, Markets, Research, Result Updates - August 12, 2022

Max Healthcare Institute Ltd Q1 FY23 Result Updates. Robust growth in revenue & EBITDA driven by normalization of patient footfalls.

Max Healthcare Institute Ltd Q1 FY23 Result Updates.
Robust growth in revenue & EBITDA driven by normalization of patient footfalls.

Max Healthcare reported a net profit of Rs. 229 crores, up by 12% YoY from Rs. 205 crores driven by annual price revision and normalisation of patient footfalls. Sequentially the net profit increased from Rs. 172 crores in the previous quarter.

Gross revenue stood at Rs. 1,473 Cr, a growth of 6% YoY and 14% QoQ .Net revenue increased to Rs. 1393 crores from Rs. 1322 crores in June 21, up by 5% YoY.Q1 FY23 performance reflects normalisation of revenues and operating EBITDA post Omicron wave in the previous quarter.
Max Healthcare stated that EBITDA stood at ₹370 crore compared to ₹360 crore in the corresponding quarter last year (Q1 FY22) and ₹304 crore in the previous quarter (Q4 FY22) growth of 3% YoY and 22% QoQ.

Improvement in all operational and financial parameters.

The Operating EBITDA margin stood at 26.6% for the quarter, compared to 25.3% in Q1 FY22 and 24.9% in Q4 FY22.
EBITDA per bed improved to Rs. 62.0 lakhs in Q1 FY23, from Rs. 45.4 lakhs in Q1 FY22 and Rs. 56.4 lakhs in Q4 FY22.
Bed occupancy in Q1 FY23 stood at 74%; 1% of total occupied beds were used for Covid‐19 patients compared to 7% in Q4 FY22 and 39% in Q1 FY 22.
Cash from Operations stood at Rs. 237 Cr in Q1 FY23.
Net Debt including Put Option liability of Rs. 141 Cr as on June 30, 2022 was Rs 217 Cr
Occupied Bed Days (‘OBD’) during the quarter increased by 9% over the previous quarter
Average revenue per occupied bed (ARPOB) for Q1 FY23 stood at Rs. 66.0k versus Rs. 51.5k in Q1 FY22 (+28% YoY) and Rs. 63.5k in Q4 FY22 (+4% QoQ)
Increase in ARPOB was led by improvement in payor mix and surgical mix, normalisation of OPD footfalls and annual price revision.
Digital revenue from online marketing activities and web-based appointments stood at INR 232 Cr, i.e. 16% of overall revenue.
Max Lab (Non-captive pathology vertical) reported gross revenue of Rs. 26 Cr.
Max@Home gross revenue during the quarter was INR 32 Cr, a growth of 10% over Q4 FY22 & 18% over Q1 FY22.
The growth in Q1 FY23 revenue and Operating EBITDA was driven mainly by improvement in payor mix, annual price revision and normalisation of patient footfalls after the Omicron wave waned in mid of Feb’22.

The shares of Max Healthcare are trading at Rs. 361, down by 2.94%.

Valuations:

The return on equity (ROE) is 10.3% for the quarter ended June 2022. The price-to-earning (P/E) ratio stood at 54.8. The return on capital employed (ROCE) for the company is 12.2%. The price to book value Max Healthcare is 5.54. The EV/EBITDA is 32.3. EPS for the quarter is Rs. 6.51.

Lumax recorded its biggest ever profit.

 

Ajmera Realty reported total revenue of Rs. 55 Cr. in Q1 FY23.

 

J B Chemicals and Pharmaceuticals Limited  Q1 FY23 Result Updates. Higher treasury income and other costs hamper net profit.

 

 

Indigo Paints revenue up from Rs.156 Cr to Rs.223.99Cr.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Black Rose Industries Ltd Q1 FY23 Result Updates.
Business, Equities, Market News, Markets, Research, Result Updates - August 11, 2022

Tata Chemicals Ltd Q1 FY23 Result Updates. Strong revenue, and EBITDA growth amidst a favourable market environment and a challenging cost situation.

Tata Chemicals Ltd Q1 FY23 Result Updates.
Strong revenue, and EBITDA growth amidst a favourable market environment and a challenging cost situation.

Tata Chemicals Ltd reported a net profit of Rs. 637 crores, soared by 86% from Rs. 342 crores in Q1 FY22. The net profit increased from Rs. 470 crores in the March quarter. The PAT margin stood at 16%.
Revenue from operations of the company jumped by 34.15% during the June quarter at Rs 3,995 crore compared to Rs 2,978 crore in June 2021. Sequentially the revenue increased from Rs. 3,418 crores in the previous quarter.
Earnings before interest, tax, depreciation, and amortization stood at Rs. 1015 crores as compared to June 21 at Rs. 601 crores, up by 69% YoY. The EBITDA margin is at 25%.
The profit before tax is Rs. 797 crores, increased by 86% YoY from Rs. 428 crores.
Input costs mainly energy continue to remain at elevated levels.

Robust soda ash demand continues across all geographies and applications.

India’s business saw higher soda ash and bicarb realizations aided by strong market demand and market tightness. EBITDA rose due to improved realizations, which offset a significant increase in raw material and energy costs during the quarter. Revenue grew by 48% YoY and EBITDA grew by 67%.

Overall US volumes remain strong with growth in domestic and export markets and the overall market remained tight. Export prices remain strong & at above pre-covid levels. Maintenance shutdown in one dryer leading to 10K MT production loss. Gas prices remain at elevated levels. The revenue increased by 34%.

In the UK business EBITDA improved on account of improved realizations which offset a significant increase in raw material and energy costs. The volumes were marginally lower in Q1 FY 23 and revenue improved by 31% YoY.

Kenya’s operation maintained its steady performance with higher sales volume and higher export realizations. Margins improved against the previous year on account of higher realizations and robust market demand. The unit continues its focus on optimizing cost and improving efficiencies.

Rallis recorded higher revenues driven by robust growth in crop care. Margins are impacted due to cost inflation and competitive pricing. Crop care margins improved while seeds margin was impacted and continue to be under pressure.

In June, Tata Chemicals Europe officially opened the UK’s first industrial-scale carbon capture and usage plant, a move the Tata Group company said signals a key milestone in the race to meet the country’s net-zero targets. The 20 million pound investment was completed by Northwich-based Tata Chemicals Europe (TCE) in northwest England, one of Europe’s leading producers of sodium carbonate, salt, and sodium bicarbonate.

The shares of Tata Chemicals Ltd are trading at Rs. 1077.80, up by 0.34%.

Valuations:

The return on equity (ROE) is 7.58% for June 2022. The price-to-earning (P/E) ratio stood at 17.5. The return on capital employed (ROCE) for the company is 8.40%. The price to book value of Tata Chemicals Ltd is 1.53. The EV/EBITDA is 10.5. EPS for the quarter is Rs. 61.2.

Lumax recorded its biggest ever profit.

 

Ajmera Realty reported total revenue of Rs. 55 Cr. in Q1 FY23.

 

J B Chemicals and Pharmaceuticals Limited  Q1 FY23 Result Updates. Higher treasury income and other costs hamper net profit.

 

 

Indigo Paints revenue up from Rs.156 Cr to Rs.223.99Cr.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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India's Steel Demand Set to Rise 8-9% in 2025
Business, Equities, Market News, Markets, Research, Result Updates - August 11, 2022

Hindalco Industries Limited Q1 FY23 Result Updates. Stronger Q1 backed by operational efficiencies.

Hindalco Industries Limited Q1 FY23 Result Updates.
Stronger Q1 backed by operational efficiencies.

Hindalco Industries Limited reported a net profit of Rs. 4,119 crores, up by 48% YoY as compared to Rs. 2,787 crores in June 2021, driven by strong US sales and higher revenue that cushioned the impact of pricier raw materials. On a sequential basis, the profit has increased 7% QoQ from Rs 3,851 crores during the March quarter.
Revenue for the quarter increased to Rs. 58,018 crores, up by 40.28% YoY from Rs. 41,358 crores in the same quarter last year. On a sequential basis, the revenue scaled 4% from Rs 55,764 crore recorded in the previous quarter.
Earnings before interest, tax, depreciation, and amortization stood at Rs. 8640 crores as against RS. 6790 crores in Q1 FY22, increased by 27% YoY.

Excellent results driven by robust performance by Novelis, Aluminium Downstream, and Copper businesses, supported by operational efficiencies and higher volumes.

Novelis reported its best-ever quarterly EBITDA and EBITDA per tonne primarily due to higher product pricing, favourable product mix, and recycling benefits.
Novelis’ profit for the quarter stood at $307 million, up 1% YoY.
Revenue was at $5.1 billion against $3.9 billion YoY, up 32%, driven by higher global aluminium prices. Total shipments of flat rolled products (FRPs) were at 962 Kt against 973 Kt in the year-ago quarter, marginally lower due to supply chain constraints.

Aluminium upstream revenues stood at Rs 8,699 crore. Ebitda stood at Rs 3,272 crore, up 41% YoY, primarily due to favourable macros, higher volumes, and better operational efficiencies, partially offset by higher input costs. Upstream Ebitda margins were at 38%.
Aluminium downstream logged revenues of Rs 2,740 crore.
Ebitda stood at Rs 158 crore, up 305% YoY, primarily due to better pricing of downstream products. Ebitda per ton for Aluminium downstream stood at $261 against $64 YoY, up 306% YoY.

The copper business witnessed an improvement of 48% YoY to Rs 10,529 crores due to higher volumes and a rise in global prices. EBITDA at Rs.565 crore, up 116% YoY, on the back of higher volumes, better operational efficiencies, and improved by-product realizations.
The shares of Hindalco Industries Limited are trading at Rs. 438.05, down by 0.50%.

Valuations:

The return on equity (ROE) is 18.5% for June 2022. The price-to-earning (P/E) ratio stood at 6.54. The return on capital employed (ROCE) for the company is 16.2%. The price to book value of Hindalco Industries Limited is 1.24. The EV/EBITDA is 4.59. EPS for the quarter is Rs. 67.

 

 

Lumax recorded its biggest ever profit.

 

Ajmera Realty reported total revenue of Rs. 55 Cr. in Q1 FY23.

 

J B Chemicals and Pharmaceuticals Limited  Q1 FY23 Result Updates. Higher treasury income and other costs hamper net profit.

 

 

Indigo Paints revenue up from Rs.156 Cr to Rs.223.99Cr.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Indian Pharma Q4 Results: Domestic Demand and Specialty Generics Drive Robust Profitability Surge
Business, Equities, Market News, Markets, Research, Result Updates - August 9, 2022

J B Chemicals and Pharmaceuticals Limited  Q1 FY23 Result Updates. Higher treasury income and other costs hamper net profit.

J B Chemicals and Pharmaceuticals Limited  Q1 FY23 Result Updates.

Higher treasury income and other costs hamper net profit.

 

 

JB Pharma reported a net profit of Rs. 105 crores, fell by 12% YoY from Rs. 119 crores on account of higher treasury income in Q1 FY22, non-cash ESOP cost, depreciation on account of acquired brands, and finance costs in Q1 FY23

The revenue stood at Rs. 784 crores for the June quarter, up by 30% YoY from Rs. 606 crores in June 2021.

The earnings before interest, tax, depreciation, and amortization stood at Rs. 173 crores as compared to Rs. 164 crores, up by 6% YoY.

The profit before tax stood at Rs. 142 crores from Rs. 158 crores, slipped by 10% YoY.

Operating EBITDA  grew by 16% to Rs. 190 crores. Gross margins were at 62.7% v/s 64.2%. Excluding Azmarda, gross margins for the business were relatively flat YoY. Overall material cost continues to remain challenging whilst softening was seen in certain packing material. Excluding non-cash ESOP cost, employee cost increased by 19% due to increments and manpower costs for acquired brands. Non-cash ESOP cost as a percentage of reported EBITDA was at 10%as compared to 20% of reported EBITDA in Q4 FY22.

Other expenses increased on account of normalization of marketing expenses as compared to Q1 FY22 and a significant increase in fuel costs, freight expenses, and logistics costs for the exports business on a YOY basis, whilst sequentially some softening was seen in international freight.

Depreciation increased by 44% to INR 26 crores on account of the amortization of the acquired brands.

 

Robust revenue growth despite a challenging operating environment.

 

JB recorded robust revenue growth at 30% despite a challenging operating environment. Organic revenue growth was around 20%.  The domestic Formulation business continued its strong performance growing at 34% to INR 418 cr. Organic revenue growth was around mid-teens. International business revenue grew by 28% to Rs. 366 crores. All the three businesses viz. Exports formulations, CMO, and API business performed well in the quarter.

 

During the quarter, the international business recorded robust revenue growth of 28% to Rs. 366 crores. Exports formulations, CMO, and API business recorded growth of 11%, 108%, and 17% respectively. South Africa unit registered growth in both public & private markets; robust tender demand; new launches in the private market. Russia local sales remained steady; Receivables looked positive from the region.  CMO revenue crossed Rs. 100 crores for the first time in a quarter due to a strong surge in account demand for lozenges and liquids from key partners. The order book continues to remain robust.

 

Domestic business records highest ever sales in a quarter of Rs.  418 crores registering growth of 34%. Organic revenue from the domestic business grew around the mid-teens out-pacing industry growth rate. JB continues to remain the fastest growing company among the top 25as per IQVIA MAT June 22 data. As per MAT June 22 data, JB ranks 23rd as compared to 25thin Q4 FY22. The acquired brands from Sanzyme performed well with Sporlac gaining market share during the quarter.

 

The shares of J B Chemicals and Pharmaceuticals Limited closed at Rs. 1861.40, up by 0.46%.

 

Valuations:

 

The return on equity (ROE) is 18.1% for June 2022. The price-to-earning (P/E) ratio stood at 38.7. The return on capital employed (ROCE) for the company is 28.4%. The price to book value of J B Chemicals and Pharmaceuticals Limited is 6.72. The EV/EBITDA is 24.8. EPS for the quarter is Rs. 48.1.

 

 

 

 

 

 

 

 

 

 

 

Cipla Q1 results: Lower Covid-19 drug sales to hamper revenue growth

 

Ashok Leyland Q1 FY23 Result Update. Volume growth to improve net profit; revenue doubles.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Infosys reports a net profit of Rs.5,350Cr. in Q1 FY23. 

 

L&T Technology Services Ltd Q1 Results Update.

 

HUL Q1 FY23 Result Update: HUL beats estimates with Rs 2,381-cr net profit in Q1; revenue up 19.6%

 

 

 

 

 

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24% Tariffs: Japan Faces Economic Shockwaves
Business, Equities, Market News, Markets, Research, Result Updates - August 8, 2022

Titan Company Limited Q1 FY23 Result Updates. 13-fold jump in year-on-year net profit at Rs 793 crores.

Titan Company Limited Q1 FY23 Result Updates.

13-fold jump in year-on-year net profit at Rs 793 crores.

 

 

Titan reported a net profit of Rs. 793 crores, up by from Rs. 61 crores in Q1 FY23.
Total income for the June quarter jumped by 199% a YoY to Rs 8,649 crore compared with Rs 2,890 in Q1 FY22, driven by strong festive demand in a near normal Q1 that came after a gap of two Covid disrupted periods.

Advertising and campaign expenses stood at Rs. 171 crores, increased by 373% YoY as the company ramped up investing in brands across businesses. Standalone EBIT at Rs. 1,121 crores soared by 478% YoY from Rs. 209 crores with margins at 13.0% was the best for the Q1 period and second best overall in the last 3 years.

Profit before tax stood at Rs. 1066 crores from Rs. 82 crores in Q1 FY22.

All the key Divisions recorded healthy margins aided by better realizations across product categories.

 

Titan’s jewellry business registered an income (excluding bullion sales) of Rs 7,600 crore compared with Rs 2,467 crore in the year-ago quarter, up 208 % YoY led by a good Akshaya Tritiya sales and a better-studded mix compared to June 2021. Sales growth was driven by both buyer and ticket sizes, with new buyer contribution continuing to be quite robust at 46%. Whilst the wedding segment recorded a healthy growth of 178% YoY, its contribution to the overall sales was marginally lower. The studded sales ratio at 26% is moderately better than pre-pandemic levels for the first quarter, indicating a full recovery. Jewellry business reported an EBIT of Rs 1,027 crore against Rs 207 crore in the same quarter of the previous year.

The watches and wearables business reported its best quarterly income of Rs 785 crore, up 169% against  Rs 292 crore YoY. The watches and wearables business reported an of EBIT of Rs 103 crore against a loss of, Rs 56 crore YoY.

Eyecare business also reported its highest quarterly income of Rs 183 crore, up 173% over Rs 67 crore YoY. Eyecare business reported an EBIT of Rs 36 crore against a loss of Rs 13 crore YoY.

Other businesses comprising Indian dress wear and fragrances & fashion accessories reported a 300% YoY rise in income at Rs 56 crore compared with Rs 14 crore YoY. Other businesses reported a loss of Rs 10 crore against a loss of Rs 16 crore YoY.

The company said it added a net of 125 stores during the year. The company’s retail chain (including Caratlane) has 2,303 stores across 366 towns with an area exceeding 2.9 million square feet, as of June 2022.

The shares of Titan Company Limited are trading at Rs. 2440, up by 034%.

 

Valuations:

 

The return on equity (ROE) is 26.4% for June 2022. The price-to-earning (P/E) ratio stood at 73.1. The return on capital employed (ROCE) for the company is 21.4%. The price to book value of Titan Company Limited is 23.4. The EV/EBITDA is 48.2. EPS for the quarter is Rs. 3.31.

 

 

 

 

 

 

 

 

 

 

 

Cipla Q1 results: Lower Covid-19 drug sales to hamper revenue growth

 

Ashok Leyland Q1 FY23 Result Update. Volume growth to improve net profit; revenue doubles.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Infosys reports a net profit of Rs.5,350Cr. in Q1 FY23. 

 

L&T Technology Services Ltd Q1 Results Update.

 

HUL Q1 FY23 Result Update: HUL beats estimates with Rs 2,381-cr net profit in Q1; revenue up 19.6%

 

 

 

 

 

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Business, Equities, Market News, Markets, Research, Result Updates - August 6, 2022

Genus Power Infrastructures Ltd Q1 FY23 Result Updates. Reduced capacity utilization to hamper revenue growth.

Genus Power Infrastructures Ltd Q1 FY23 Result Updates.
Reduced capacity utilization to hamper revenue growth.

Genus Power Infrastructures Ltd reported a net profit of Rs. 0.65 crores in June 2022 up by 1135.92% from Rs. 0.05 crore in June 2021. Sequentially the net profit fell from Rs. 10.98 cores in the March quarter. Net Profit Margin stood at 6.38%.
Revenue stood at Rs. 187.0 crores, up by 43%, as against Q1FY22 revenue of Rs. 130.4 crores. Reduced capacity utilization as a result of a lack in supply of semiconductors and other essential electronic components continued to have an adverse impact on revenue growth. In the previous quarter, the revenue was lower at Rs. 181 crores. The company expects the normalcy in the supply chain to be restored within the next three months and anticipates a sharp revenue rebound in H2FY23 on account of a robust order book and healthy order inflow.

Rise in price on raw materials affected the operating margins.

Earnings before interest, tax, depreciation, and Amortization (EBITDA) stood at Rs. 14.3 crores, an increase of 183%, as against Rs. 5.1 crore of Q1FY22. Sequentially, higher prices for raw materials and a lack of operating leverage as a result of lower capacity utilization continued to hamper operating margins. The operating profit margin stood at 8% as compared to 11% in the previous quarter.
The total expenses stood at Rs. 183 crores for the June quarter as compared to Rs. 136 crores in Q1 FY22.
The profit before tax stood at Rs. 2.31 crores from Rs. 0.08 crores in Q1 FY3. Sequentially the PBT declined from Rs. 17.60 crores.
The Board of Directors has recommended a dividend of 25% (Re. 0.25 per equity share) for the financial year 2021-22, which is subject to the approval of the shareholders.
As on 30th June 2022, the company’s order book stood at Rs. 1,855 crores (net of tax) from Rs. 1080 crores in the previous quarter.
The shares of Genus Power Infrastructures Ltd closed at Rs. 74.55, down by 0.93%.

Valuations:

The return on equity (ROE) is 6.17% for the quarter ended June 2022. The price-to-earning (P/E) ratio stood at 42.8. The return on capital employed (ROCE) for the company is 8.42%. The price to book value of Genus Power Infrastructures Ltd is 2.06. The EV/EBITDA is 19.7. Genus Power EPS has increased to Rs. 0.03 in June 2022 from Rs. 0.00 in June 2021.

 

 

 

 

 

 

 

Cipla Q1 results: Lower Covid-19 drug sales to hamper revenue growth

 

Ashok Leyland Q1 FY23 Result Update. Volume growth to improve net profit; revenue doubles.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Infosys reports a net profit of Rs.5,350Cr. in Q1 FY23. 

 

L&T Technology Services Ltd Q1 Results Update.

 

HUL Q1 FY23 Result Update: HUL beats estimates with Rs 2,381-cr net profit in Q1; revenue up 19.6%

 

 

 

 

 

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Business, Equities, Market News, Markets, Research, Result Updates - August 5, 2022

Kalyan Jewellers India Limited Q1 FY23 Result Updates. Robust growth in revenue; PAT at Rs. 108 crores.

 

Kalyan Jewellers India Limited Q1 FY23 Result Updates.
Robust growth in revenue; PAT at Rs. 108 crores.

Kalyan Jewellers India Limited reported a consolidated net profit of Rs. 108 crores as compared to a loss of Rs. 51 crores in Q1 FY22.
The Company recorded consolidated revenue of Rs 3,333 crores for Q1FY23, a growth of 104% as compared to Rs 1,637 crores in the corresponding quarter of the previous year.
Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) was recorded at Rs 264 crores, a growth of 283% as compared to Rs 69 crores in the same quarter of the previous year. Aided by industry tailwinds and strong execution, Kalyan’s business has seen a significant acceleration in scale, growth and profitability.
Standalone revenue for the Company (India) was at Rs 2,719 crores, a growth of 113% as compared to Rs 1,274 crores in Q1 of the previous year. EBITDA in India was Rs 218 crores for the quarter, a growth of 336% as compared to Rs 50 crores in the same quarter of the previous year. PAT in India for the quarter was Rs 95 crores, as compared to a loss of Rs 43 crores in the corresponding quarter of the previous year. There is a improvement in gross margin and EBITDA margin YoY and QoQ driven largely by higher share of revenue from nonsouth markets and higher share of studded revenue.
The e-commerce division, Candere, recorded a revenue of Rs 44 crores for the quarter versus Rs 24 crores in the corresponding quarter of the previous year. The quarter recorded a loss of Rs 1.2 crores as against a profit of Rs 31 lakhs for the corresponding quarter of the previous year.
Robust momentum continues across geographies driven by rise in footfalls and market share. While non-south outpaced south revenue YoY, the base period not strictly comparable. South share at 65% compared to 70% YoY. Studded growth outpaced gold driven by higher share of revenue from the non-south markets. 24% studded share compared to 20% YoY and broadly similar QoQ.

Strong revenue momentum in the Middle East driven by overall recovery in economic activity in the region and return of tourist traffic.

In the Middle East, total revenue from operations during Q1FY23 was at Rs 574 crores as against Rs 340 crores in Q1 of the previous year. The Middle East region contributed 17% to the overall consolidated revenue of the Company. The Middle East operations recorded Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of Rs 47 crores for the quarter, a growth of 161% compared to Rs 18 crores in the same quarter of the previous year. PAT for the quarter was at Rs 14 crores compared to a loss of Rs 9 crores in the corresponding quarter of the previous year. 69% revenue growth compared to Q1FY22 largely SSSG driven as only 1 showroom was opened in the last 12 months. GP margin settling at 15.5% due to higher share of revenue from tourists (lower margin products)

Kalyan’s retail expansion continued in the recently concluded quarter, with the launch of four new showrooms – three in non-South markets in India, and one in the Middle East. As of June 30, 2022, Kalyan Jewellers’ store network across India and the Middle East stood at 158.
The company launched its first franchised showroom in Q1 of this year.
The shares of Kalyan Jewellers India Ltd are currently trading at Rs. 71.30, up by 1.42%.

Valuations:

The return on equity (ROE) is 7.51% for the quarter ended June 2022. The price-to-earning (P/E) ratio stood at 19.2. The return on capital employed (ROCE) for the company is 9.29%. The price to book value of Kalyan Jewellers India Ltd is 2.36. The EV/EBITDA is 10.1.

 

 

 

 

 

 

 

 

 

 

 

Cipla Q1 results: Lower Covid-19 drug sales to hamper revenue growth

 

Ashok Leyland Q1 FY23 Result Update. Volume growth to improve net profit; revenue doubles.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Infosys reports a net profit of Rs.5,350Cr. in Q1 FY23. 

 

L&T Technology Services Ltd Q1 Results Update.

 

HUL Q1 FY23 Result Update: HUL beats estimates with Rs 2,381-cr net profit in Q1; revenue up 19.6%

 

 

 

 

 

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