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Titan Company Limited Q1 FY23 Result Updates.

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%

 

 

 

 

 

Genus Power Infrastructures Ltd Q1 FY23 Result Updates.

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%

 

 

 

 

 

Kalyan Jewellers India Limited Q1 FY23 Result Updates.

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%

 

 

 

 

 

Inox Leisure reported its highest ever revenue of Rs.589 Cr. in Q1FY23.

Inox Leisure reported its highest ever revenue of Rs.589 Cr. in Q1FY23.

Inox Leisure reported its highest ever revenue of Rs.589 Cr. in Q1FY23.

In Q1, Inox Leisure reported the highest revenues of Rs. 589 crore and a profit of Rs. 74 crore. The company reported an EBITDA of Rs 130 Cr. with a footfall of 18.4 million. The year-ago quarter was affected by the second COVID wave, with Q1FY23 being the first quarter of full operations. This is largely due to the flow-through of greater revenue and the continuous benefits of cost optimization. Rentals are likely to normalise to pre-Covid levels by the end of this quarter. The company recorded its highest ever average ticket size of Rs. 229 in Q2 FY23.

 

The blockbuster movies contributed significantly to higher revenue.

The quarter witnessed chartbuster movies like RRR, KGF: Chapter 2, Vikram, Bhool Bhulaiya 2, and Doctor Strange In The Multiverse of Madness. The company saw record ticket prices and revenue. The stock recorded a big beat in 1QFY23 revenue. The company delivered its best-ever quarterly performance. The spending per head was at Rs.96 in June 2022, up by 19% from Q1 FY20. The company now operates on 692 screens across 163 multiplexes in 73 cities. The company intends to add 13 more properties and 60 screens. The advertising revenue is slowing signs of recovery.

Inox Leisure added 3 new properties in June 2022 with 17 screens each, at AIPL Joystreet, Gurugram; Orchid Mall, Kalaburagi; and Sattva Necklace Mall, Hyderabad. This indicates the company’s expansion focus and intent to reach new markets. The management is confident about the business and expects a great turnaround in the business going forward thanks to a fascinating content schedule in the upcoming quarter with releases like Laal Singh Chaddha, Raksha Bandhan, Liger, Brahmastra, and Vikram Vedha.

The outstanding box office performance was appropriately complemented by the company’s phenomenal performance across the F&B counters. The redesigned approach for F & B, supported by strategic promotions and innovations, has resulted in a soaring F & B revenue of Rs 164 Cr. INOX continued its focus on the consumer front by expanding its merchandise business, where INOX admirers can buy products and feel connected with their favourite super heroes.

 Valuations:

The EPS for the company is at Rs. 4.67 compared to Rs. -2.30 in the previous quarter. ROCE and ROE for the company are at-1.57% and -38.1%, respectively.  P/E ratio for the company is 20.17 times. While, the 5 years P/E ratio is 22.2 times and 3years P/E is at -9.50 times. The debt to equity ratio for the company is 4.26, and the return on assets is -17%. The scrip was trading at Rs. 592, down by 1.85% on Thursday.

 

TCI Express Q1 FY23 Result Updates.

TCI Express Q1 FY23 Result Updates. The continued uptick in economic activity boosts revenue.

 

TCI Express Q1 FY23 Result Updates.

The continued uptick in economic activity boosts revenue.

 

TCI Express reported a net profit of Rs. 31.01 crores, up by 30% YoY from Rs. 23.76 crores.  PAT Margin at 10.6% remained flat. However, the net profit slipped by 13% QoQ from Rs. 35.93 crores.

TCI Express recorded another quarter of strong performance with Revenue of Rs. 292 crores, a growth of 30% on year on year basis from Rs. 292 crores. This growth was led by a continued uptick in economic activity and a pick up in Industrial production which was subdued in the comparative period due to the second wave of Covid-19. In addition, the demand was well supported by growth in our both Corporate and SME customers which contributes equally to the total revenues. Sequentially, the total income fell from 300.28 crores, down by 2.63%. Expenses increased to Rs 251.27 crore as compared to Rs 193.18 crore earlier.

 

Employee cost to impact margins.

 

The earnings before interest, tax, depreciation, and amortization (EBITDA) b grew by 32.6% YoY to Rs. 44.7 crores from Rs. 33.7 crores with margins remaining strong at 15.3% compared to 15.0% in Q1 FY22. The inflationary environment continues to impact margins however, the company was able to maintain stable margins due to higher capacity utilization of 84.5% in Q1 FY23 and has been able to pass through certain costs and its impact will be visible in the coming quarters. On a QoQ basis, the EBITDA declined by 14.5% from Rs. 52.3 crores. TCI Express continues to maintain a strong CFO to EBITDA ratio of 77.5% and generated Rs. 35 Crores of cash flow from operations during the quarter. The margins were slightly lower compared to the previous quarter due to an increase in employee cost as the company is building a team for our newly launched services.

The profit before tax stood at Rs. 41.1 crores, up by 31% YoY and down by 15.9% QoQ. The PBT margin for the quarter is 14.1% compared to 14% in Q1 FY22 and 16.3% in the previous quarter.

 

Capex of Rs. 33 Crores incurred during Q1 FY2023 primarily towards the land purchase in Kolkata for setting up an automated sorting center. 10 new branches were opened during Q1 FY2023 in the metro cities primarily in the North and West region to deepen TCI Express presence in key business geographies. Gurgaon sorting center started its operations in March 2022 and in June 2022, it processed around 18% of total volumes.

The shares of TCI Express Ltd are currently trading at Rs. 1,757, down by 1.47%.

 

Valuations:

 

The return on equity (ROE) is 26.6% for the quarter ended June 2022. The price to earning (P/E) ratio stood at 49.4. The return on capital employed (ROCE) for the company is 35.5% . The price to book value of  TCI Express is 12.6. The EV/EBITDA is 34.6.

 

 

 

 

 

 

 

 

 

 

 

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%

 

 

 

 

 

The Ramco Cements Q1 Results:

The Ramco Cements Q1 Results: Volume growth on a low base of last year coupled with stable realization boosted revenue.

 

The Ramco Cements Q1 Results:

 

Volume growth on a low base of last year coupled with stable realization boosted revenue.

 

The Ramco Cement reported a net profit of Rs. 109.23 crores, down by 36.37% YoY from Rs. 171.67 crores on account of high fuel prices and weak cement prices.

Ramco Cement’s revenue grew 44.1% YoY and 3.9% QoQ to Rs 17,79.4 crores. Cement sales stood at 3.31 MT for Q1FY23, a growth of 54.7% YoY and 3.8% QoQ. Volume growth on a low base of last year coupled with stable realization boosted revenue. The blended realization for the quarter was at Rs. 5,376/ton, declining by 4.5% YoY, though on a sequential basis realization saw a marginal rise of 1%. Share of premium products stands at 24% for Q1FY23. Sales Volume was lower in Q1FY22 on account of CoVID-related lockdowns. Cement sales increased by 55% YoY.

 

The total expenses increased 64.96%  to Rs 1,630.59 crore in Q1 FY2022-23 from Rs 988.46 crore a year ago.
Variable Costs have gone up due to sharp fuel price increases. The cement price increase was insufficient to cover the fuel cost push. Effective tax rates were reduced due to the adoption of the new tax regime. Finance costs increased due to the commissioning of the clinker unit in JPM Line III.

 

Higher costs of power & fuel along with an increase in logistics costs dented the margin.

 

EBIDTA for Q1 of CY is Rs.308 crores as against Rs.370 crores during Q1 of PY with a de-growth of 17%, mainly due to a sharp increase in fuel price and weak cement prices. The industry could not pass on the full cost increase arising out of a sharp fuel price hike, to its customers. Pet coke and coal prices have increased. Consequently, power & fuel cost has increased by 553 / ton in Q1 YoY. Increase in diesel price by 11% YoY. EBITDA margin contracted by 1265 bps YoY/18 bps QoQ to 17%.

Profit before tax declined by 38% YoY to Rs. 155.05 crores from Rs. 251.53 crores.

The shares closed at Rs. 726.35, down by 0.87%.

 

Valuations:

The return on equity (ROE) is 14.7% for the quarter ended June 2022. The price-to-earning (P/E) ratio stood at 20.5. The return on capital employed (ROCE) for the company is 9.51%. The price to book the value of  Ramco Cements is 2.64. The EV/EBITDA is 16.7. The debt to equity ratio is 0.64.

 

 

 

 

 

 

 

 

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%

 

 

 

 

 

Indus Towers reports weak numbers in Q1FY23.

Indus Towers reports weak numbers in Q1FY23.

Indus Towers reports weak numbers in Q1FY23.

The shares of Indus Towers fell harshly on August 3 after the company announced weak earnings for the quarter ended June. In the quarter, net profit fell 66% year on year to Rs 477 crore, while revenue increased only 1% to Rs 6,897 crore, and operating profit fell 34% to Rs 2,322 crore. The impact of a non-payment from one of the customers reduced operating cash flow by 60% to Rs 807 crore. While the company’s energy costs increased 5.3% and operating expenses increased by 18.2%.

Main reason for the weak performance. 

In the reported quarter, share revenue per tower fell 11.4 percent sequentially to Rs 75,688.Overall, total towers increased to 1,027 from March 2022 quarter to 186,474, which was weaker than the past performance for the company. The company had agreed to the payment plan modification of security arrangements proposed by VI promoters for clearance of the outstanding dues. Pursuant to an agreement, Vodafone has given all of its primary pledged shares in equities issued by it to be used exclusively for clearing the outstanding dues of the company. Further, Indus has a secondary pledge over Vodafone’s remaining shares and a corporate guarantee provided by Vi’s promoters which could be used. However, it is insufficient to cover the outstanding.

Their prudent accounting practise resulted in their financial performance, as they focused on bills receivables due to the financial situation of one of our major customers. The fundamentals of the business remain strong, and the successful conclusion of the 5G auctions has further improved the outlook.

Valuations:

The ROCE for the company is 25.0% and the ROE is at 33.5%. The P/E ratio is at 10.2 times and 5 years’ P/E is at 17.5 times. EPS for the company is Rs.23.7. The debt to equity ratio is at 0.89 for Indus Towers. The firm has maintained a healthy dividend payout ratio of 82.96%.

Mahindra Holidays and Resorts India Q1 FY23 Result Updates.

Mahindra Holidays and Resorts India Q1 FY23 Result Updates. Highest ever resort income to increase revenue.

 

Mahindra Holidays and Resorts India Q1 FY23 Result Updates.
Highest ever resort income to increase revenue.

Mahindra Holidays & Resorts India Ltd reported a profit after tax of Rs 34 crores for the June quarter driven by higher revenue, up by 11.1% YoY from Rs. 30 crores. However, the net profit declined sequentially from Rs. 44 crores in the previous quarter.

The expenses for the quarter increased by 53% YoY to Rs. 220 crores driven by an increase in sales & marketing expenses in Q1 FY23 due to brand-building investments and higher member additions. Rent & other expenses increased in line with resort income and scale of operations.
The earning before interest, tax, depreciation, and amortization(EBITDA) was Rs. 84.20 crores compared to Rs. 73.04 crores in Q1 FY22, up by 15.3% YoY. The EBITDA margin stood at 2707% against 33.7% in Q1 FY22.
The Profit before tax stood at Rs. 45.43 crores, improved by 11.1% YOY from RS. 40.90 crores. The PBT margin for the quarter is 14.9%

Resort Revenues Driven by Higher Inventory, Occupancies & Member Spends.

The revenue from operations for the quarter was 287.86 crores, up by 46.3% YoY from Rs. 196.74 crores. Total Income has increased by 40.3% YoY to Rs. 304.22 crores mainly driven by the highest ever Resort Income. The highest ever resort revenues were by high occupancies and increased room inventory, along with higher usage of existing and new experiences by members. The revenue from the resort jumped from Rs. 15 crores in Q1 FY22 to Rs. 84 crores in Q1 FY23. The resort occupancy increased from 51% to 89% during the quarter.

Membership sales remained robust during the quarter despite pressure on consumer discretionary spending. Member acquisitions through the Referral & Digital route at 58% in Q1 FY23. The occupancy rate for the quarter was 89% while it was 51% on June 21. 3,807 members were added during the June quarter with a cumulative member base of around 2.7 lakh. Cash position of the company at Rs. 1,172 Crs as of June 22. Member additions have been robust with higher average unit realisation.
During the quarter, the company added a new resort at Gangtok and extended Udaipur resort by adding 107 rooms.
MHRIL has a total inventory of 4,617 rooms across 84 resorts.On the company’s European operations, Holiday Club Resorts (HCR) delivered a significant improvement in Timeshare and Spa Hotels Revenues despite unprecedented cost pressures due to high inflation.
Currently, the stock is trading at Rs. 229.10, down by 1.25%.

Valuations:

The return on equity (ROE) is 39.7% for the quarter ended June 2022. The price-to-earning (P/E) ratio stood at 38.7. The return on capital employed (ROCE) for the company is 7.92%. The price to book the value of the Mahindra Holidays is 18.2. The EV/EBITDA is 12.5.

 

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%

 

 

 

 

 

United Phosphorus Limited Q1 FY23 Result Updates.

United Phosphorus Limited Q1 FY23 Result Updates. Higher EBITDA combined with lower finance costs drove robust growth in net profit.

 

United Phosphorus Limited Q1 FY23 Result Updates.

Higher EBITDA combined with lower finance costs drove robust growth in net profit.

 

United Phosphorus Limited reported net profit of Rs.  877 crores, jumped by 28.54% YoY from Rs. 677 crores. The net profit for the previous quarter was Rs. 1379 crores.

Q1 FY23 Revenue witnessed robust growth of 27% YoY to reach Rs. 10,821 crores from Rs. 8515 crores led by better product realizations (+18%), favorable exchange rate (+3%), and higher volumes (+6%).

Working capital was higher in Q1 FY23 primarily due to robust growth of 27% in sales, short-term inventory build-up due to strong demand and uncertainties in supply-chain, and an increase in receivables on the back of strong growth in LATAM. However, without reduced factoring and FX impact, the increase in net working capital on a sequential basis would have been lower at Rs. 1,931 crores.

 

Robust growth led by significant pick-up in realizations and higher volumes in a challenging macro-environment.

 

EBITDA grew by 26% YoY to Rs. 2,342 crore as against Rs. 1,862 crore in Q1 FY22. The EBITDA margin for the quarter is 21.6% .Significant uptick in realizations supported by efficient supply chain management aided in maintaining EBITDA margins despite inflationary. After a strong end to FY2022, the company continued to see solid growth momentum in Q1 FY23, as the strong agri commodity prices drove significant uptick in price realizations as well as healthy demand from growers. The EBITDA margin remained largely intact despite the significant input cost inflation and a challenging macro-economic environment exacerbated by geopolitical issues. This was driven by proactive pricing actions coupled with efficient supply chain management that led to the strong topline growth getting translated into robust operating profitability growth as well.

Better pricing and efficient supply chain management helped improve margins both YoY and sequentially. The EBITDA margin is marginally lower due to higher investments in SG&A as the company focused on building teams and capabilities to grow its differentiated and sustainable portfolio, and normalization of overheads post-Covid.

 

On 2nd August 2022, the stock closed at Rs. 736.95, down by 3.96%.

 

Valuations:

The return on equity (ROE) is 16.7% for the quarter ended June 2022. The price to earnings (P/E) ratio stood at 14.1. The return on capital employed (ROCE) for the company is 15.6%. The price to book value of  United Phosphorus Limited is 2.28. The EV/EBITDA is 24.5 and the EV/Sales is 7.43.

 

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%

 

 

 

 

 

Zomato's Q1 FY23 results improved.

Zomato zooms up 20% after stellar Q1 performance.

Zomato zooms up 20% after stellar Q1 performance.

Zomato recorded a net loss of Rs. 186 Cr. in Q1FY23 compared to a net loss of Rs. 356 Cr. YOY. The scrip soared after the results. The revenue from operations was at Rs. 1,413 Cr., up by 67.44% versus 844.4 Cr. in June 2021 due to an increase in orders for meals from the online platform. However, the company’s adjusted revenue increased by 18% quarter on quarter and 56% year on year to Rs 1,810 Cr. in Q1FY23.Its adjusted EBITDA loss was Rs 150 Cr in the June quarter, down from Rs 220 Cr the previous quarter.

The revenue is comprised of mainstream food delivery and related fees it charges restaurants for using its platform. The total order value of all food delivery orders placed online rose for the first quarter by 41.6 % to Rs 643 Cr. YOY, with an average customer of 16.7 million. The margins were negatively impacted due to higher fuel costs and wage inflation as per the management. They also added that the monthly transacting customers were the key driver for volume growth.

The domestic food delivery industry is expected to grow three times over the next five years. With the rising order regularity and user count, we expect Zomato to have 45–50% of the market share.

Future plans for Zomato

The online food delivery company will be internally rebranded by moving to a multiple chief executive structure for its businesses that will be housed under a larger organisation called Eternal. In an internal message to employees, Deepinder Goyal said the company has matured from running a single business to running multiple and large companies. The restructuring is happening after the shareholders approved the Blinkit acquisition. Zomato currently has four companies — Zomato, Blinkit, Hyperpure, and Feeding India. Starting Monday (August 1), the company will call the larger organisation Eternal. The umbrella organisation will be called Eternal and will have four firms-Zomato, Blinkit, HyperPure, and Feeding India. Goyal hinted at a model where the company would get into other businesses.

Deepak Goyal said that there will be multiple CEOs running each other’s businesses and working as a “super-team” towards building a single, large organisation. Zomato has set aside a war chest of $1 billion to invest in multiple start-ups. Zomato has acquired a substantial stake in Mukunda, Curefit, and Magicpin. The restructuring is very important as it hints at a model where the company will do other businesses.

Valuations:

The EPS is currently RS.-0.18. The ROCE and ROE are at -10.1% and -10.2%. The large cap company closed at Rs.55.6, up by 20.9% on Tuesday. The company is also debt free, with a long-term borrowing of Rs. 30 Cr. The stock P/E is 194, which is quite expensive. The P/B ratio for the company is 2.62.