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Bharat Forge Ltd Q1 FY23 Result Updates.

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.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Max Healthcare Institute Ltd Q1 FY23 Result Updates.

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.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cummins India's PAT falls in Q1 FY23.

Cummins India's PAT falls in Q1 FY23.

Cummins India’s PAT falls in Q1 FY23.

Cummins India on Wednesday reported a 20% decline in PAT at Rs 198.13 crore  for June quarter. The company’s consolidated profit after tax (PAT) was Rs 246.94 crore in the year-ago period. The consolidated sales during this period increased 41.47% to Rs 1,666.11 crore from Rs 1,177.71 crore in the June quarter of 2021. Domestic sales were 1,172 Cr., a 36% increase over June 2021 and a 12% increase over March 2022.

The export sales were valued at  485 Cr., increased by 58% compared to June 2021 and by 14% compared to March 2022. The profit before tax at 264 Cr. is lower by 13% compared to June 2021 and higher by 8% compared to the March 2022 quarter.

Cummins India is planning to increase its sales volume.

They are closely monitoring the results of the geopolitical events unfolding in different parts of the world and their impact on global demand and the supply chain. Cummins India effectively deals with challenges and monitors any potential impact of rising interest rates on demand. However, they remain optimistic about the short-to-medium-term demand outlook. The company believes that the strong demand from various end-markets may likely be sustained, but at the same time, high inflation and supply chain issues will, in all probability, continue to impact the industry.

The company believes that the strong demand from various end markets may likely continue. At the same time, surging inflation and supply chain disruptions will, in all probability, continue to impact the industry. The company, being part of the global supply chain, is well placed to manage parts supplies to mitigate the impact on revenue and profitability. They are closely monitoring the results of the geopolitical events unfolding in different parts of the world and their impact on global demand and the supply chain. Considering the uncertainty, the company will not provide any guidance for FY 23.

Valuations:

The P/E for the company is at 40.0 times and the 5Y P/E ratio is 28.6 times. The ROCE is 21.3%.While the company’s ROE is 16.9%.The EVEBITDA ratio is 26.0.EPS for the company is Rs. 30.6 per share. The debt-to-equity ratio is currently 0.08.The scrip closed at Rs.1239 and was up by 6.15% on Thursday.

VRL Logistics has reported its highest revenue since the pandemic.

VRL Logistics has reported its highest revenue since the pandemic.

VRL Logistics has reported its highest revenue since the pandemic.

VRL Logistics reported a total revenue of Rs. 717 Cr. in the June quarter as against Rs. 665 Cr. in the March quarter. The company reported a net profit of Rs. 49 Cr. in Q1 FY23 compared to Rs. 56 Cr. in Q4 FY22 and Rs. 6 Cr. in Q1 FY22. 117 Cr. in the June quarter compared to Rs. 126 Cr. in the March quarter. The growth in the transport business is contributing 90% of the total revenue and was at 609 Cr. The increase was due to tonnage of around 44% and the other was due to realization.

New branch additions:

The company added 68 branches in Q1 FY23, giving an overall of 157 total branches. It intends to map out new locations and expand its reach. The new branches contributed 8% in Q1 FY23. They are in touch with the small operators as this can help them to have a strong base. The government has made it a norm in April to generate an E-invoice above 20 Cr, which will be decreased to 10 Cr. in the near future. This indicates that the business will be done in a more organized way.

Many commodities and new contracts are gradually shifting to the company as a result of their proper compliance procedure, and the number of customers has increased from 4 lakh in pre-covid level to 7 lakh customers. The diesel cost has increased from 29% of the total revenue to 31%. This rise is due to an increase in procurement costs, which was at Rs. 85 to Rs. 93 in the current quarter. The company is unable to get fuel from the refinery, which was 40% of their consumption. It declined to 25% in Q4 FY22 and null in the current quarter due to increases in bulk purchases by the government due to which they lost Rs.2 per liter.

The employee costs is constant in VRL Logistics. EBIT was 69 cr in Q1. The company has also increased the useful life of the asset from 9 to 15 years. The net free cash was at 100 Cr, out of which 85 Cr was used to fund Capex for the goods transport business.

Valuations:

The P/E for the company is at 24.8 times, and the 5 year P/E and 3 year P/E ratios are 27.8 times and 27.3 times, respectively. ROCE for VRL Logistics is at 22.7%. While the company’s ROE is 25.1%.The EVEBITDA ratio is 11.8.EPS for the company is Rs. 24.4 per share. The debt to equity ratio is at 0.82. The scrip closed at Rs. 604.45 and was up by 0.92% on Thursday.

Tata Chemicals Ltd Q1 FY23 Result Updates.

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.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares of Hindalco tanked even after good results.

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.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lumax recorded its biggest ever profit.

Lumax recorded its biggest ever profit.

Lumax recorded its biggest ever profit.

Lumax Technologies reported a 539.59% jump in its profit to Rs.21.81 crore as against Rs. 3.14 crore in June 2021 and 20 crore in March 2022. The total sales were at Rs. 421.93 Cr compared to Rs. 260 Cr in June 2021 and Rs. 417 Cr in March 2022. EBITDA margins stood at 11.5%, up by 430bps from Q1 FY22. The company expects a bounce back in domestic exports as the world economy is witnessing a strong recovery.

A long way to go ahead:

The auto industry was under pressure in the last quarter due to a shortage of semi-conductors, rising commodity prices on account of inflation, and supply chain disruptions. However, the volumes have increased this year as the economy is stabilising. The company has witnessed consistent improvement in all the sectors, which indicates that the mobility industry is revisable and in its growth stage. The growth catalysts will be  OEM offtake, an improving demand scenario, strong aftermarket demand, and increased wallet share with its major customers. The key highlights for Q1 FY23 are normal economic activity, healthy retail sales, demand in the PV segment amid new launches in the SUV domain, a reduction in excise duty, and a reduction in key raw material prices towards the end of the quarter April-May 2022.

The increasing demand for safety and comfort requirements in automobiles is paving the way for companies focused on supplying import-substitute products. With the high growth forecast in the vehicle industry, the auto component sector is anticipated to rise twice in FY 2022–23. The government’s recent announcements of PLI schemes regarding ACC Batteries and Auto & Auto Components are expected to pave the way ahead for the creation of an automotive value chain.

Valuations:

The ROCE and ROE is at 18.4% and 13.0% respectively for Lumax Technologies. P/E ratio is at 17 times, whereas 5 years and 3 years P/E ratio is at 16.5times and 14.4times. EVEBITDA is 7.97 times. The EPS is at Rs. 12.9 and P/B ratio is at 2.79 times. The stock closed at Rs.222 down by 3.39% on Wednesday.

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

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

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

Ajmera Realty reported its total revenue of Rs. 55 Cr. in Q1 FY23, down from Rs. 135 Cr. in Q1 FY22 and Rs. 181 Cr. in Q4 FY23. The current quarter’s PAT was Rs. 12 Cr., compared to Rs. 14 Cr. in the previous quarter and Rs. 10 Cr. in June 2021.EBITDA was at Rs. 18 Cr. compared to 40 Cr. in March 2022. This was due to head winds from higher input costs, revisions in interest rates, and other economic challenges. The company has maintained its margin above 9.5% on a PAT basis.

There was a decrease in debt by 25 CR in the quarter Q1 FY23 due to traction in sales, and the firm has no outstanding debt. The cost of debt has risen by 40 basis points to 11.6 percent, and the net equity ratio in the current quarter is 1.128 percent of net worth, compared to 1.18 percent in March 2022.The volume has increased to 1,574, 438 square feet, and the sales value is at Rs.400 Cr. The collection has improved from 93 Cr. in March 2022 to Rs. 210 in June 2022.

High Demand due to WFH culture:

The company witnessed a strong performance with the launch of two projects and expects to generate revenue in the coming quarters as they are in advanced stages. Overall, real estate has witnessed a resilient performance due to upward pressure in all commodities. For the first time, buyers have improved segments in real estate. Despite the hike in interest rates, there is a bit of a slowdown, but overall there is good demand. The shift in work from home, along with demand for mid-segment to luxury housing, will drive demand for this project.

The Marquee projects of Mumbai – in Wadala have a great response with 2 towers. The company has also received permission to start its work in Juhu which the issuance of certificate for construction. They acquired land spans 1,721 sq.mt., on which a residential property with a potential carpet area of 95,000 square feet is to be built, with a sales value of Rs250 crore expected over three years at conservative price points. The infrastructure will consist of two wings with 100 units with all modern lifestyle amenities.

Valuations:

EPS was at Rs.13.2 for the company and EVEBITDA was at 16.5 times. The P/E ratio is 16.5 times. Debt to equity ratio stood at 1.22. ROCE and ROE is at 8.03% and 6.63% respectively. The script is trading at 260 down by 3.35%.

J B Chemicals and Pharmaceuticals Limited  Q1 FY23 Result Updates.

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%

 

 

 

 

 

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

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

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

Indigo Paints on Friday posted its financial results for the April to June 2022 quarter, with a net profit of Rs 19.91 crore up by 71.49% in the current quarter as against Rs 11.61 crore during the previous quarter YOY. PAT margins increased to 8.87% compared to 7.30% in the first quarter of the previous fiscal year. The sales stood up by 43.56% to Rs 223.99 crore in June 2022 as against Rs 156.02 crore during June 2021. The company clocked a more than 71% jump in profit and its margin improved following price hikes during the three months. The revenue of Indigo Paints’ for June 2022 ended quarter increased over 43 % YOY to Rs 224 crore, compared to Rs Rs 156 crore in the year-ago period.
EBITDA for Q1 FY23 stood at 35.27 crore from Rs. 20.16 crore up by 75% YOY. The margins expanded to 15.75 % against 12.92% when compared to last quarter. The consistent raw material prices improved from 43.61% in March 2022 to 45.19%. It was passed to the consumers in a staggered manner, the raw material cost are stabilised and have started to cool down.

New opportunities for Indigo Paints:

The company steadily witness higher volume growth in the Emulsions segment which is the largest contributor to overall value sales, and the Premium Emulsion category in particular. The incremental price hikes affected in few selected products which was in line with the industry.
The management believes that its growth in profitability would have been significantly higher had it not indulged in high advertising and promotional spending during the Indian Premier League (IPL) season. The FY22, IPL schedule was split between April and September, whereas in the current year, it was conducted in a single phase in April and May. As they are a significant advertiser in IPL, this has resulted in a higher advertising and promotional spending in June quarter of FY23 than in FY22 by Rs 5 crore.
The firm expects a much sharper increase in profitability parameters in the future quarters with comfortable margins and stabilising input costs. The company added that the strategy of increasing the presence in the Tier-1 and Tier-2 cities is showing early indications of traction and is expected to yield results in the next 2-3 quarters.

Valuations:

EPS for the company is at Rs.19.4. P/E ratio stood at 78.8 times and 5 years P/Efor te company is 90.9 times. EVEBITDA for the company is 45.1 times. However, despite the jump in revenue, profit, and margin, Indigo Paints’ shares failed to cheer Dalal Street investors as the stock ended the session at Rs 1,552, down 2 percent from its previous close on BSE.