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Godha Cabcon & Insulation Reports Q1 2026 Results
Business, Equities, Market News, Markets, Research, Result Updates - August 23, 2022

Supriya Lifescience Ltd Q1 FY23 Result Updates. Robust revenue growth driven by strong sales from Anestetic segment.

Supriya Lifescience Ltd Q1 FY23 Result Updates.
Robust revenue growth driven by strong sales from Anestetic segment.

Supriya Lifescience Ltd reported a net profit of Rs. 25.2 crores, increased by 227.27% YoY from Rs. 7.7 crores and fell by 45.45% QoQ from Rs. 46.2 crores. .46% in Q1FY23.
The company reported revenue of Rs. 103.7 crores , up by 31.43% YoY from Rs. 78.9 crores and declined by 43.98% QoQ from Rs. 185.1 crores. The growth was mainly driven by strong sales from Analgesic/Anestetic segment which contributed 51% to the topline against 15% in same period last year. Overall delay in the raw material supplies and export shipments lowered the revenue on QoQ basis, China being key markets for Anti-histamine therapeutic segment. SLL’s top 12 products contributed around 70% of the revenue. Export markets contributed 82.90% of the revenue against 53.50% in the same period last year.

Increase in the cost of solvents weighed on the EBITDA margins during the quarter.

Earnings before interest, tax depreciation, and amortization (EBITDA) in Q1FY23 stood at Rs. 33.7 crores and increased by 92.91% YoY from Rs. 17.4 crores but dipped on QoQ basis by 57.44% from Rs. 79 crores. The operating profit margin improved by 1,035 bps YoY and was impacted QoQ which came at 32. Increase in the cost of solvents weighed on the EBITDA margins during the quarter. Net profit margin came at 24.30%, up 1,454bps YoY and down marginally by 66bps on QoQ basis. Growth in the regulated markets came at 106% YoY mainly supported by European region. SLL’s ability to register products in regulated market could help deliver decent topline while maintaining steady margins in the coming quarters.

The shares of Supriya Lifescience Ltd are trading at Rs. 360.40, down by 1.84%.

Valuations:

The return on equity (ROE) is 34.3% for the quarter ended June 2022. The price-to-earning (P/E) ratio stood at 17. The return on capital employed (ROCE) for the company is 43.1%. The price to book value of Supriya Lifescience Ltd is 4.72. The EV/EBITDA is 11.3. EPS during the quarter came at Rs. 3.14 vs Rs. 0.96 in the same period last year.

 

Campus Active Wear Limited Q1 FY23 Result Updates. Net profit surged to Rs. 28.66 crores driven by strong demand.

Linc Pen and Plastics Ltd Q1 FY23 Result Updates. Increase in selling price to improve gross margin.

Trident Industries’ net profit stands at Rs. 129.35 crores.

Gujarat Alkalies clocked a net profit of Rs. 220 Cr. in Q1 FY23.

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Godha Cabcon & Insulation Reports Q1 2026 Results
Business, Equities, Markets, Research Reports - August 22, 2022

Mold-Tek reported a sale of Rs. 207 crores.

Mold-Tek reported a sale of Rs. 207 crores.

Mold Tek Packaging has reported an almost 80% increase in net profit to Rs 21.71 crore for the June quarter. The total sales were at 207.8 crore, an increase of 55% from the year-earlier period and 16.81% up from Q4 FY22. The profit before tax was Rs. 29 crores and the volume growth was 51.17%. While the inflationary environment continued to impact the margins, the company delivered healthy operating margins of 18% with its focus on IML packs and operational efficiencies across all segments. They have a huge CAPEX of Rs. 125 Cr. planned in FY. 22-23. The EBIDTA was up by 46.84% from June 2021 and 13.59% from Q4 of FY22. The EBIT for the quarter increased by 46.84 % to Rs. 37.3 crore from Rs. 25.40 crores.

Expansion Plans:

As previously stated, the company intends to invest 125 crores in capital expenditures this fiscal year on capacity at its facilities in Hyderabad, Daman, Visakhapatnam, and Kanpur. It has also been decided to set up a second plant in Daman with robotic IML facilities to produce food and FMCG IML containers to meet the growing customer demand in the western region. For the value of a company’s earnings growth, it is very important to consider any dilution of shareholders’ interests. As it happens, Mold-Tek Packaging issued 13% more new shares over the last year. Therefore, each share now receives a smaller portion of the profit.

The company raised equity from QIP and the allottees who have been allotted more than 5% in the QIP are Goldman Sachs Funds—Goldman Sachs India Equity Portfolio (27.61%), Ashoka India Equity Investment Trust PLC (21.24%), Aditya Birla Sun Life Trustee Private Limited A/C (19.30%), ICICI Prudential SmallCap Fund (14.48%) and White Oak India Equity Fund IV (10.62%). Mold-Tek Packaging utilised the net proceeds from the QIP issue for the company’s ongoing and future capital expenditure requirements, working capital requirements, debt repayment, and general corporate purposes.

Mold-Tek Packaging has a weak cash flow relative to earnings, which indicates lower quality earnings, and the dilution means its earnings per share growth is weaker than its profit growth. For the reasons mentioned, we think that an unthinking glance at Mold-Tek Packaging’s statutory profits might make it look better than it is on an underlying level.

Valuation:

The EPS was at Rs. 23.8. for the June quarter, up by 54.82% Q1 from June 2021 and by 17.81% from the Q4 of FY22. The Return on Capital Employed was 22.5%, whereas the Return on Equity (ROE) was 18.2%. The EBITDA was at 24.2x and the P/E ratio was at 43.8x. The price-to-book ratio was 6.62x and the interest coverage ratio was 14.0x. The scrip was trading at Rs.970, down by 0.39% on Monday.

 

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Business, Equities, Market News, Markets, Research, Result Updates - August 22, 2022

Aurobindo Pharma Ltd Q1 FY23 Result Updates. Strong revenue growth led by robust growth in ARV segment.

 

Aurobindo Pharma Ltd Q1 FY23 Result Updates.
Strong revenue growth led by robust growth in ARV segment.

Aurobindo Pharma reported a net profit of Rs. 520.5 crores, down by 32.4% YoY from Rs. 770 crores in June 2021.
Aurobindo reported revenue growth of 9.4% YoY and 7.3% QoQ to Rs. 62.36 bn in Q1FY23 after a continuous decline in growth, on a YoY basis, over the last few quarters. This improvement was the result of a return of growth in the US, strong growth in Growth markets, and robust growth posted in Anti-Retroviral (ARV) segment.
Gross Profit Margin declined 479 bps YoY and 284 bps QoQ to 53.7% in Q1FY23 due to increased raw materials costs, YoY and QoQ, in Q1FY23. EBITDA Margins for the quarter declined 574 bps YoY (-130 bps QoQ) to 15.5% and EBITDA declined 20.2% YoY (-1.0% QoQ) to Rs. 9.65 bn in Q1FY23.
R&D expenses stood at Rs. 3.10 bn or 5.0% of the revenue in Q1FY23. Net organic Capex was USD 61.0 mn and an average forex rate was Rs. 76.98 in Q1FY23. Net cash from investments was USD 337.0 mn as of Q1FY23 while the average finance cost was 1.8% due to running multiple currency loans. FCF was USD 121.0 mn, out of which nearly USD 53.0 mn was spent on Capex, another USD 8.0 mn on the PLI project, USD 34.0 mn on dividends, and USD 22.0 mn for the acquisition of the business in Q1FY23. Due to robust FCF, the company was able to reduce gross debt to USD 277.0 mn as of Q1FY23 from USD 313.0 mn as of Q4FY22.

Growth in the US was driven by forex gains strong growth in injectable revenue.

Aurobindo Pharma USA’s revenue increased 5.0% YoY to USD 214.0 mn in Q1FY23. The revenue for Auromedics, Injectable business in the US, increased at a higher pace of 16.0% YoY to USD 71.7 mn in Q1FY23.
Growth markets include INR 456.0 mn of domestic formulations revenue in Q1FY23. The US segment (47.6% of total revenue) revenue increased at 10.8% YoY (+8.9% QoQ), Growth Markets (6.9%) revenue rose by 30.8% YoY (+10.0% QoQ), and ARV segment revenue (6.1%) increased at a strong pace of 28.1% YoY (+60.9% QoQ) in Q1FY23. At the same time, API revenue (14.5%) increased at 11.7% YoY (-0.7% QoQ) while Europe formulation revenue (24.8%) declined at 2.2% YoY (+0.5% QoQ) in Q1FY23. The growth in the US was partially driven by forex gains and partly due to strong growth seen in injectable revenue, YoY, in Q1FY23. Injectables revenue now forms 26.3% of the US revenue vs. 24.6% it was in Q1FY22 and 26.8% it was in Q4FY22. Europe revenue was affected by unfavorable currency movement, as on a constant currency basis it grew at 5.9% YoY to EUR 189.0 mn in Q1FY23. Growth markets performance was driven by strong growth in Canada.

The shares of Aurobindo Pharma Ltd are trading at Rs. 555.75, down by 2.38%.

Valuations:

The return on equity (ROE) is 11.7% for the quarter ended June 2022. The price-to-earning (P/E) ratio stood at 12.9. The return on capital employed (ROCE) for the company is 12.9%. The price to book value of Aurobindo Pharma Ltd is 1.31. The EV/EBITDA is 7.18. EPS for the quarter is Rs. 40.9.

 

Campus Active Wear Limited Q1 FY23 Result Updates. Net profit surged to Rs. 28.66 crores driven by strong demand.

Linc Pen and Plastics Ltd Q1 FY23 Result Updates. Increase in selling price to improve gross margin.

Trident Industries’ net profit stands at Rs. 129.35 crores.

Gujarat Alkalies clocked a net profit of Rs. 220 Cr. in Q1 FY23.

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Safex Chemicals Plans ₹450 Cr IPO to Strengthen Financial Health and Growth
Business, Equities, Market News, Markets, Research, Result Updates - August 21, 2022

Black Rose Industries Ltd Q1 FY23 Result Updates. Profitability affected by lower price realisation in acrylamide and resorcinol.

 

Black Rose Industries Ltd Q1 FY23 Result Updates.
Profitability affected by lower price realisation in acrylamide and resorcinol.

Black Rose industries reported a net profit of Rs. 3.6 crores from Rs. 5 crores in March 2022, declined by 28% QoQ. Net profit margin stood at Rs. 5.5% as compared to 5.77% in the previous quarter.
Revenue from operations stood at Rs. 66 crores, slipped by 24% QoQ from Rs. 86.8 crores in the March quarter.
EBITDA stood at Rs. 5.7 crores as compared to Rs. 7.4 crores in the previous quarter, down by 23% QoQ. EBITDA margin is at 8.7%.
Profitability is affected by lower price realisation in acrylamide and resorcinol. Also, oversupply of acrylonitrile in the domestic market and delay in supply of meta cresol from Germany resulted in the loss of combined sales of approximately Rs.15 crores during the quarter. Exports remained constant for the quarter.

Sales and profitability for the quarter impacted by war in Europe and the poor domestic market conditions in China.

The overall revenue from the distribution segment was down by 31% from the previous quarter. EBITDA margin unchanged over previous quarter. There was a reduced demand coupled with oversupply in China led to reduced sales volume for resorcinol. The distribution business had drop in sales of 30% over the march quarter. Sales would have been higher in meta cresol and ethanolamines if there were no delivery issues, and in acrylonitrile if the markets had not been oversupplied.

Overall manufacturing revenue decreased by 11% compared to previous quarter. Acrylamide prices declined due to the spill over effect of the market slowdown in China. The high freight cost continued to make exports of AAM-L unfeasible to the US market. Higher cost of carry-forward raw material stock led to reduced margin in the quarter. Revenue in the manufacturing business was affected due to reduced demand for acrylamide, while realization was affected due to a fall in Chinese acrylamide powder prices. Exports remained restrained with global recessionary pressure but sales were at the same level as the previous quarter

During the quarter the demand for the products fell with declining prices causing customers to adopt a wait-and-watch stance.

Domestic sales of acrylamide liquid dropped by 29% over the March quarter as demand from downstream sectors fell. The CIF India price of acrylonitrile came down to $1600/MT levels as the oversupply position in the Indian market and low plant capacity utilisation in China continued to plague the spot markets. Price realisations for acrylamide liquid reduced due to low acrylonitrile prices and with the dumping of Chinese acrylamide powder into India.
The reduction in Chinese domestic demand has caused dumping of Chinese acrylamide powder into India, resulting in large domestic inventories of Chinese product.

The shares of Black Rose Industries Ltd are trading at Rs. 188.75, up by 0.40%.

Valuations:

The return on equity (ROE) is 11.84% for the quarter ended June 2022. The price-to-earning (P/E) ratio stood at 33.4. The return on capital employed (ROCE) for the company is 15.54%. The price to book value of Black Rose Industries Ltd is 14.2. The EV/EBITDA is 23. EPS for the quarter is Rs. 0.71.

 

 

Campus Active Wear Limited Q1 FY23 Result Updates. Net profit surged to Rs. 28.66 crores driven by strong demand.

Linc Pen and Plastics Ltd Q1 FY23 Result Updates. Increase in selling price to improve gross margin.

Trident Industries’ net profit stands at Rs. 129.35 crores.

Gujarat Alkalies clocked a net profit of Rs. 220 Cr. in Q1 FY23.

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Bharti Airtel Stock Hits Fresh 52-Week High on Strong Market Momentum
Business, Equities, Markets, Result Updates - August 20, 2022

Bata India reported a 71.82% increase in consolidated net profit of Rs 119.37 crores

Bata India Ltd. posted its highest ever quarterly sales:

Bata India reported a 71.82% increase in consolidated net profit of Rs 119.37 crores for the first quarter, as the shoemaker achieved the “highest ever quarterly sales”. The company posted a net profit of Rs 69.47 crores in June 2021. Its revenue during the June quarter was Rs 943.01 crore, up over three-fold from Rs 267 crore in the pandemic-hit corresponding quarter of FY22. Bata India’s total expenses were at Rs 792.58 crore, up two-fold in Q1FY23 as against Rs 371.61 crore a year ago. During the quarter, the company continued to improve cost structures and increase efficiencies across the company. The digital channel sales momentum was due to three levers: D2C bata e-store, marketplaces, and omni-channel home delivery.

Cost-focus initiatives to drive the quarterly results:

A direct result of focus on key areas of franchise and MBO expansion and digital footprint expansion is seen in the quarterly results.  This is done continuous improvement in portfolio and marketing investments. Moreover, footfalls across retail outlets saw a significant spike, besides sales through digital channels. All the cost-focused initiatives, which have been put in place across multiple work streams, are showing increasing impact this quarter. Bata is witnessing a significant uptick in sales with rising demand for fashionable and comfortable footwear.

They continue to expand their reach through new franchise stores and multi-brand outlets. They have opened 20-plus new franchise stores, taking the total number to over 320, with a strong future pipeline and expanded availability via a distribution channel that continued to scale up to close to 1,100 towns. Almost 60+ stores renovated during the June quarter. Simultaneously, Bata also focused on driving volumes in these inflationary times, which should have an impact in the ensuing period. 

In the face of volatile inflation and geopolitical unrest, they are cost efficient and accordingly planning cost-savings measures across their network, which has reflected in the profitability. They are continuing to flesh out new opportunities across all value chains, which will help them capture the emerging consumer demand efficiently. They continue to be optimistic about the momentum going ahead, driven by innovation, scaling up digital channels, expansion in Tier 3-5 towns, and productivity enhancement in brands and stores.

The Net Promoter Score (NPS), feedback for loyalty for all offline and online channels that Bata services, stood at 70%. It was the continued growth of the sneaker category that led to the growth recovery. The sneaker studio in 125 stores to display up to 300 styles across 9 brands. Bata continued with an expansion drive in tier 3–5 cities. The company continued to expand its distribution business in MBOs across 1100 towns.

Valuations:

The EPS was Rs. 22.7 for the June 2022 quarter. The ROCE was at 8.37%, whereas the ROE was at 5.74%. The EBITDA stood at 33.2x for Q1 FY23. The price to book value was at 13.6x. The P/E was at 84.9x, while the 5 year P/E was at 45.9x for Bata India Ltd. The return on assets was 2.99% for the same quarter. The shares of Bata India Ltd on Friday settled at Rs 1927, up 0.25% from the previous close.

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Dish TV reported a net profit of Rs. 17.85 crores
Business, Equities, Markets, Result Updates - August 19, 2022

Dish TV reported a net profit of Rs. 17.85 crores

Dish TV reported a net profit of Rs. 17.85 crores.

Dish TV India reported a 64.47% drop in net profit to Rs 17.85 crore in June 2022, compared to Rs 50.24 crore in the previous quarter ended June 2021.The firm reported a net loss of Rs 2,031.99 crore in March 2022 on account of exceptional items, which included impairment charges. The total revenues stood at Rs 642.70 crore during the quarter as against Rs 751.75 crore in the corresponding quarter. EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortization) was Rs. 323.8 Cr.Profit before exceptional items and tax (PBT) was at Rs 41.8 crore as against a loss of Rs 199.3 crore in Q4 FY22.

The total expenses were at Rs 607.56 crore, down 36.35% as against Rs 954.57 crore in the March 2022 quarter. The exceptional items in the results include Rs 203 crores as an impairment charge on intangible assets under development (impairment charge on goodwill acquired from Videocon) and related advances, Rs 1,616.9 crore and Rs 717.7 crore, respectively. The firm recognised Rs. 116.3 crores as a forex variation loss due to the ongoing crisis in Sri Lanka.

Consumer preferences can have a significant impact on a company’s profitability:

Dish TV’s subscription revenues stood at Rs 574.8 crore, down by 16.1% as against Rs 685.2 crore in Q4 FY2022. The subscription revenues during the quarter were lower compared to Q1 FY2021, mainly due to volatile viewing habits, the emergence of the third wave of the pandemic, high inflation, and conservative spending. The advertisement revenue was at Rs 14.8 crore, up 14.5% as against Rs 12.9 crore. The revenue from ‘Additional marketing, promotional fees and bandwidth charges’ was at Rs 39 crore as against Rs 36.2 crore in the previous quarter.

Pay-TV consumer sentiment has been fluctuating between being pampered on content and sometimes being prudent with it. Consumers have been pickier than ever. They are often moving between linear and streaming content, and as a result, restarting their subscriptions less regularly. Dish TV customers’ changing tastes and preferences are working towards leveraging these emerging trends. The net pay-TV subscribers decreased by 257,000 in the June 2022 quarter, compared to a net decrease of 67,000 in the June 2021 quarter. The company closed the quarter with 9.99 million subscribers, including 7.79 million DISH TV subscribers and 2.20 million SLING TV subscribers. The retail wireless net subscribers decreased by 210,000 in the June 2022 quarter, compared to a net decrease of 201,000 in June 2021 and with 7.87 million retail wireless subscribers.

Valuations:

The EPS was Rs. 10.2 for the June 2022 quarter. The ROCE was at 24.9%, whereas the ROE was at 41.1%. The EBITDA stood at 1.49x for Q1 FY23. The price to book value was at 2.25x. The price to earnings ratio was at 2.87x, while the 5 year P/E was at -1.45x for Dish TV India. The return on assets was at 9.50% for the same quarter. The shares of Dish TV India Ltd on Friday settled at Rs 11.70 on the BSE, up 0.70% from the previous close.

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Dabur Subsidiaries Face Cancer Lawsuits in US and Canada
Business, Equities, Market News, Markets, Research, Result Updates - August 19, 2022

Balaxi Pharmaceuticals Limited Q1 FY23 Result Updates. Strong performance backed by higher revenue and margins.

 

Balaxi Pharmaceuticals Limited Q1 FY23 Result Updates.

Strong performance backed by higher revenue and margins.

 

Balaxi Pharmaceuticals reported a net profit of Rs 14.15 crores, up by 32.1% from Rs. 10.71 crores in June 2021, on the back of strong performance of revenue and higher margins. The net profit margin for the quarter is 17.1%, down by 127 bps.

The strong growth in revenue of Rs. 82.78 crores, up by 41.9% YoY in Q1FY23 from Rs. 58.34 crores in Q1 FY22, driven by the Pharmaceuticals business, with the LATAM share increasing to 38% and strong volume contribution from Latin American markets. The company also derived translation benefits from a strong currency in Angola.  

Earnings before interest, tax, depreciation, and amortization (EBITDA) of Rs 17.03 crores were recorded in Q1 FY23, registering 35.6% growth YoY, despite the cost structures in new geographies incurred ahead of commercial launches in these countries. The EBITDA margin stood at 20.6%, down by 95 bps.

 

Growing Latin American business to strengthen margins.

 

Gross profit stood at Rs. 34.52 crores from Rs. 16.8 crores, up by 105.5% YoY. The gross margin stood at 41.7%, up by 1290 bps. Gross margin expanded significantly, based on the strength of the growing Latin American business and increased contribution from branded products at 35% in Q1. In Latin America, product margins are intrinsically higher, especially for value-added, branded portfolios, a clear area of focus for Balaxi.

The company’s operating cost structure – both people and organizational costs – has increased substantially with the entry into several new markets. This includes establishment and product registration expenses in countries that are not contributing to sales at present. Going forward, as the business scales up, we expect a positive contribution to revenue growth as well as geographical diversification. Balaxi Pharmaceuticals reports continued solid growth in Q1 FY23.

 

The shares of Balaxi Pharmaceuticals Limited are trading at Rs. 440.75, up by 0.55%.

              

Valuations:

 

The return on equity (ROE) is 53.5% for the quarter ended June 2022. The price-to-earning (P/E) ratio stood at 8.62. The company’s return on capital employed (ROCE) is 9.6%. The price to book value of Balaxi Pharmaceuticals Limited is 3.88. The EV/EBITDA is 7.33. EPS for the quarter is Rs. 51.1.

 

 

 

Campus Active Wear Limited Q1 FY23 Result Updates. Net profit surged to Rs. 28.66 crores driven by strong demand.

Linc Pen and Plastics Ltd Q1 FY23 Result Updates. Increase in selling price to improve gross margin.

Trident Industries’ net profit stands at Rs. 129.35 crores.

Gujarat Alkalies clocked a net profit of Rs. 220 Cr. in Q1 FY23.

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Zee5 reported a net profit of Rs. 122 cr. 
Business, Equities, Market News, Markets, Research, Result Updates - August 19, 2022

Shalimar Paints Ltd. Q1 FY23 Result Updates. The crisis of the second wave of COVID-19 and other factors hampered profitability.

Shalimar Paints Ltd. Q1 FY23 Result Updates.

The crisis of the second wave of COVID-19 and other factors hampered profitability.

 

Shalimar Paints Ltd reported a net loss of 19.5 crores on account of the impact of increasing raw material prices. The company had posted a loss of Rs 10.6 crore for the April-June period a year ago.

The company has reported revenue of Rs. 109.9 crores from Rs. 105.5 in the previous quarter, growth of 4% QoQ, i.e., Q4 FY22 and 69% YoY at Rs. 65.2 crores from Q1 FY22. The company has recorded the highest sales in Q1 Vs Q1 YoY in the last 8 years. During this quarter company has grown by 22% in a decorative segment from the previous quarter, i.e., Q4 F22. During this quarter, the company has grown in the water base segment by 15% the previous year’s Q1 F22. In the coming quarters looking at the raw material trend, the company will decide on the future pricing strategy.

The earnings before interest, tax, depreciation, and amortization (EBITDA) stood at Rs. (1.8) crores as compared to 2.3 crores in the previous quarter and Rs. (8.8) crores in Q1 FY22.

The company has witnessed a disruption that had a devasting impact on the company’s performance. Despite the initial phase of reopening of the economy, the unforeseen challenges & crisis of the second wave of COVID-19 hit the pause button again.
Moreover, commodity prices too witnessed an unprecedented surge.
The company has felt the impact of increasing raw material costs over the past few quarters. Also, there has been some disruption in transport facilities leading to an increase in the freight cost. These all factors have impacted our profitability. The pandemic also brought about certain fundamental shifts in the industry.

An increase in prices of raw materials affected the performance.

 

 Over the last few quarters, raw material prices have seen an increasing trend, which has contracted the Gross profit impacting the overall profitability of the company. The prices of key raw materials have increased as compared to the previous quarter’s slide on the back of a steep inflationary trend and a sharp increase in commodity prices across the globe. The company was able to absorb the increased cost by passing on the cost to the EBIT consumers through an increase in average selling prices. However, due to competitive intensity need to absorb few costs internally impacting the margins of the company. The company is continuously working on improving its product mix within the segments, which will eventually help to reduce the impact of the increase in raw material costs on the company’s profitability. The company has maintained the fixed cost at the previous year’s level, however marginal is due to secondary freight on account of an increase in fuel prices.

 

The shares of Shalimar Paints Ltd. are trading at Rs. 165.30, up by 1.54%.

               

Valuations:

 

The return on equity (ROE) is -18% for the quarter ended June 2022. The return on capital employed (ROCE) for the company is -7.19%. The price to book value of Shalimar Paints Ltd. is 3.24. The EV/EBITDA is -108. EPS for the quarter is Rs. -9.

 

 

 

Campus Active Wear Limited Q1 FY23 Result Updates. Net profit surged to Rs. 28.66 crores driven by strong demand.

Linc Pen and Plastics Ltd Q1 FY23 Result Updates. Increase in selling price to improve gross margin.

Trident Industries’ net profit stands at Rs. 129.35 crores.

Gujarat Alkalies clocked a net profit of Rs. 220 Cr. in Q1 FY23.

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Dalmia Bharat Reports Disappointing Q3 Results, Sees Limited Short-Term Growth
Business, Equities, Markets, Research, Research Reports - August 19, 2022

JK Cement to report a net profit of Rs. 163 crores.

JK Cement to report a net profit of Rs. 163 crores.

The company has reported sales of Rs. 2270 crores during the period ended June 2022, as compared to Rs. 2351 crores during the period ended March 2022. The company has posted a net profit of Rs. 163 crores for the period ended June 30, 2022, as against a net profit of Rs. 201 crores for the period ended March 31, 2022. The company has an EPS of Rs. 21.06 for the period ended June 30, 2022 as compared to Rs. 26.03 for the period ended March 31, 2022. The margins are at 17.7% in Q1 FY23 versus 23.5% in Q1 FY22.

Margin expansion at a low cost:

Grey cement volume fell 10% QoQ to 0.31 Cr. MT. The total sales stood at 86% vs. 75% YoY. The volume of putty increased 38% year on year to 5 lakhs. With a QoQ increase in the sales share of putty, blended Net Sales Realization (NSR) firmed up 6% QoQ and rose 7% YOY. The total Opex was up a modest 4% QoQ, mainly on a loss in grey cement and on lower fuel inflation. Thus, blended unitary EBITDA rebounded 16% QoQ to INR 1,101 per MT. The margin for both grey and white segments expanded by 100/250bps QoQ to 17/20% and 20%, respectively, implying EBITDA of INR 900/MT. The UAE subsidiary’s revenue went up 28% YoY to INR 100Cr. As JK Cement split the useful life of its cement power plants into 15-20 year periods, depreciation expense went up 16% QoQ.

 In Q1FY23, healthy pricing recovery in the northern regions, subdued fuel cost inflation, and low cost inventory benefits increased blended unitary EBITDA by 16% QoQ to INR 1,101 per MT as margins in both the grey and putty segments rebounded. While consolidated revenue rose 32% year over year, EBITDA came in flat. JKCE’s central expansion of 4 million MT is on track by Q4FY23. The company plans to further add 6 million MT of grey cement capacity in the central and northern regions by the end of FY25 to brace its distribution reach.

Valuations:

 The stock P/E for JK cement is at 32.5x. With a five-year P/E of 24.8x, the EPS stood at Rs. 85.1. The return on capital employed was 16.6% and the return on equity was 17.4%. The EBITDA was recorded at 15.4x. The ROA was at 6.57% and the price to book ratio was at 4.90x. The scrip closed at Rs. 2736, up by 1.36%.

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Strategic Consolidation: Emcure to Fully Take Over Zuventus Healthcare
Business, Equities, Market News, Markets, Research, Result Updates - August 18, 2022

Marksans Pharma Ltd Q1 FY23 Result Updates. Robust growth in revenue driven by strong volume growth.

Marksans Pharma Ltd Q1 FY23 Result Updates.
Robust growth in revenue driven by strong volume growth.

Marksans Pharma Ltd reported a net profit of Rs. 60.2 crores as compared to Rs. 62.6 crores in Q1 FY22, which declined by 3.9% YoY.
Operating revenue was Rs. 433.8 crores compared to Rs. 348.9 crores in Q1FY22, growing by 24.3% driven by strong volume growth in existing products and new launches in the US & UK. US business grew by 25.7%. Pricing erosion in the US continued in the high single digit during the quarter impacting the Generic Rx business. The UK and Europe grew by 13.7%. Over 94% of revenues are from the regulated markets- USA, Europe, Australia & Canada.
Profit before tax stood at Rs. 76.4 crores, growing by 2.2%.
Total R&D Expenditure was Rs. 8.9 crores, constituting 2% of revenue.
The cash balance for the June quarter stands at Rs. 339 crores.

Input cost pressure hampers the margins.

Gross profit during the quarter was Rs 218.9 crores from Rs. 186.7 crores in June 2021, growing by 17.3% YoY. Gross margin at 50.5% up 110bps QoQ but down 300bps YoY.
Earnings before interest, tax, depreciation and amortization (EBITDA) was Rs. 72.9 crores from Rs. 77.3 crores in June 2021, declining by 5.8% with an EBITDA margin of 16.8%, on account of an increase in costs of material, freight costs, and pricing pressure in the US.
The net profit margin stood at 13.4% down by 428 bps YoY.
During the quarter, the input cost pressures continued to build up, adversely impacting the margins. The company has started passing on the price increase to their customers.

US & North America Formulation business reported growth of 26% YoY to Rs. 173.9 Crores in Q1FY23. 32 products are in the pipeline, of which 20 are oral solids and 12 are ointments and creams. Within oral solids, 4 are soft gels.
UK and Europe Market business recorded revenue of Rs. 181 crores in Q1FY23 as compared to Rs. 159.2 crores during last year, registering a growth of 14%. Planned 34 new filings over the next three years, of which 7 are planned in FY23. In addition, 16 products are already filed and awaiting approval.
Australia and New Zealand business reported growth of 38% YoY to Rs. 52.6 Crores in Q1FY23. 10 products are in the pipeline and expected to be launched over the next two years.
RoW business doubled to Rs. 26.3 Cr. in Q1FY23.

The shares of Marksans Pharma Ltd are trading at Rs. 52.65, down by 0.38%.

Valuations:

The return on equity (ROE) is 17.9% for the quarter ended June 2022. The price-to-earning (P/E) ratio stood at 11.6. The return on capital employed (ROCE) for the company is 22.9%. The price to book value of Marksans Pharma Ltd is 1.78. The EV/EBITDA is 6.19. EPS for the quarter is Rs. 4.50.

 

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