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Boost: 200% Dividend Announced by City Union Bank
Result Updates - May 3, 2025

Boost: 200% Dividend Announced by City Union Bank

 Boost: 200% Dividend Announced by City Union Bank

 

Stock under ₹200 offers attractive returns with strong financials and positive growth outlook.

Introduction

A significant 200% dividend has been announced by City Union Bank (CUB), a well-known private sector lender, for the fiscal year that ends in March 2025. Following a strong Q4 performance, the bank is now positioned as a desirable choice for investors looking for value in the sub-₹200 stock market.

Q4 FY25 Financial Highlights

In comparison to the same quarter last year, City Union Bank’s Q4 FY25 net profit of ₹254.8 crore represented a 17% increase. The bank’s net profit for the full fiscal year increased by 8% from ₹937.47 crore in FY24 to ₹1,015.73 crore, marking the first time it has crossed the ₹1,000 crore threshold.
The bank’s total income for FY25 surged to ₹6,012.22 crore, up from ₹5,524.69 crore in the previous year. This growth was driven by improved recoveries and a reduction in provisioning, enhancing the bank’s profitability.

Dividend Declaration

City Union Bank has declared a final dividend of ₹2.00 per share, which is 200% of the share’s face value of ₹1. This gives investors a strong return at the present share price of about ₹146, with a dividend yield of about 1.37%.
The bank’s dedication to shareholder value is demonstrated by its steady dividend payment history. Eligible shareholders can anticipate receiving their dividend payout soon after the ex-dividend date and record date for this dividend are published.

Stock Performance and Valuation

City Union Bank’s stock is currently trading at ₹146.35, offering an attractive entry point for investors. The stock has a 52-week high of ₹187.80 and a low of ₹125.35, indicating potential for capital appreciation.
Brokerage firms have taken note of the bank’s performance. ICICI Securities has upgraded the stock to a ‘Buy’ rating with a target price of ₹200, citing healthy Q3FY25 numbers and a positive growth outlook.
Similarly, other analysts have maintained a bullish stance, with target prices ranging from ₹185 to ₹220, reflecting confidence in the bank’s fundamentals and growth prospects.

Operational Highlights

City Union Bank has achieved important operating milestones. The bank’s overall revenue for FY25 increased from 96,369 crore to 1,02,138 crore, surpassing the ₹1 lakh crore milestone. Advances totaled ₹46,481 crore, while total deposits were ₹55,657 crore.
With a Gross Non-Performing Asset (NPA) of 3.99% and a Net NPA of 1.97% as of March 31, 2025, the bank’s asset quality is still stable. The capital adequacy ratio, which stands at 22.98%, is good and provides a strong cushion for future growth.

Strategic Initiatives and Outlook

City Union Bank continues to focus on expanding its footprint and enhancing customer engagement. The bank has opened several new branches in recent months, strengthening its presence in key markets.
Additionally, the bank has launched innovative products, such as a co-branded credit card with Chennai Super Kings, aimed at attracting younger customers and diversifying its revenue streams.
Looking ahead, the bank aims to maintain its growth trajectory by focusing on retail lending, improving operational efficiency, and leveraging technology to enhance customer experience. Analysts project a 15-16% growth in FY26, supported by the bank’s strategic initiatives and strong financial position.

Conclusion

City Union Bank’s dedication to providing value to shareholders is demonstrated by its outstanding Q4 FY25 performance and its declaration of a generous 200% dividend. With a strong balance sheet, consistent dividend history, and strategic growth initiatives, the bank presents a compelling investment opportunity, especially for those seeking quality stocks under ₹200.

 

 

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APSEZ Reports ₹11,061 Crore Net Profit in FY25, Marking Major Growth

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Greaves Cotton Q4 Revenue Climbs to ₹823 Crore, Up 19%
Result Updates - May 2, 2025

Greaves Cotton Q4 Revenue Climbs to ₹823 Crore, Up 19%

 Greaves Cotton Q4 Revenue Climbs to ₹823 Crore, Up 19%

 

For the fourth quarter of FY2024–2025, Greaves Cotton Limited, a diversified engineering firm catering to the automotive and non-automotive industries, reported strong financial results. With a 19% year-over-year increase in revenue to ₹823 crore, the company demonstrated robust demand across all of its business divisions and solidified its position as a major force in India’s engineering and transportation sector.

Q4 Financial Performance Overview

Greaves Cotton reported a consolidated revenue of ₹823 crore for Q4 FY25, reflecting a 19% increase compared to ₹692 crore in the same quarter last year. This growth was fueled by solid performance in its electric mobility and engine segments, coupled with increased aftermarket demand.
The company’s EBITDA for Q4 stood at ₹71 crore, rising from ₹60 crore in the same period last year, with an EBITDA margin of 8.6%. Net profit for the quarter rose to ₹36 crore, showing a year-on-year increase of 13%. This positive bottom-line growth reflects improved cost management and stronger product mix efficiency.

Annual Financial Snapshot

Greaves Cotton recorded total revenue of ₹3,110 crore for the whole fiscal year FY25, up 15% from FY24’s ₹2,702 crore. The EBITDA for the year grew to ₹278 crore, compared to ₹229 crore in the previous year, while net profit reached ₹148 crore, up from ₹121 crore.
These results highlight the company’s strategic execution, diversification efforts, and focus on sustainable mobility solutions. The consistent rise in revenue and profit over the year is a testament to Greaves’ agility in adapting to changing market dynamics and consumer needs.

Dividend Declaration

The board of directors announced a final dividend of ₹1.50 per equity share for FY25 in recognition of its impressive performance. This reflects the company’s commitment to delivering value to shareholders while continuing to invest in innovation and expansion. The dividend will be paid to eligible shareholders after approval at the upcoming Annual General Meeting.

Segment-Wise Highlights

Electric Mobility (Ampere Vehicles)

Greaves Electric Mobility, the EV arm operating under the Ampere brand, continued its momentum with growing sales of electric two-wheelers and three-wheelers. The division contributed significantly to the revenue, supported by the rollout of new products and expansion of the dealership network.
The company also made advancements in battery technology and vehicle range, aiming to address range anxiety concerns and increase adoption of EVs in tier 2 and tier 3 cities. Sales during Q4 showed a strong uptick due to year-end buying trends, improved supply chain management, and attractive financing options.

Automotive Engines and Non-Automotive Applications

The traditional engine business also saw consistent demand, especially in the agricultural and industrial sectors. The company witnessed stable order inflow for diesel and CNG engines, used widely in irrigation pumps, small commercial vehicles, and construction machinery.
In the non-automotive space, Greaves’ gensets, marine engines, and light engineering products saw healthy growth, driven by demand from rural electrification, backup power solutions, and infrastructure projects.

Strategic Initiatives and Sustainability Goals

Greaves Cotton has been increasingly focusing on cleaner, sustainable technologies. The corporation made significant investments in R&D and digital capabilities in FY25 with the goal of future-proofing its products. Enhancing linked mobility solutions, growing electric product lines, and breaking into new export markets were among the initiatives. The company also continues to emphasize ESG (Environmental, Social, and Governance) practices by reducing its carbon footprint, improving energy efficiency across plants, and supporting community programs focused on skill development and rural upliftment.

Management Commentary

Commenting on the performance, Greaves Cotton’s MD and CEO, Nagesh Basavanhalli, said, “This quarter’s performance reflects the strength of our diversified portfolio and the successful execution of our transformation strategy. Our focus on electric mobility, while maintaining momentum in our traditional engine and aftermarket businesses, has allowed us to create a balanced and resilient model. We are confident of building on this foundation in FY26.”

Outlook for FY26

Looking ahead, Greaves Cotton aims to accelerate growth by expanding its EV portfolio, increasing localization to reduce costs, and leveraging government support for electric mobility under initiatives like FAME-II. With rising fuel prices and a growing shift towards sustainable alternatives, the company is optimistic about capturing a larger market share in both electric and traditional sectors.
The company is also evaluating potential strategic collaborations to strengthen its supply chain and tap into international markets, especially in Southeast Asia and Africa, where demand for affordable mobility and power solutions is rising.

Conclusion

Greaves Cotton has successfully transformed into a diverse, forward-thinking business, as seen by its Q4 FY25 performance. A defined growth path, solid financials, and growing investor confidence suggest that the company is well-positioned to maintain pace into FY26 and beyond.

 

 

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Vedanta Q4 FY25 Earnings: Robust Profit Surge Fueled by Cost Cuts and Commodity Gains

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Investor Takeaways as Vedanta Shares Slide on Govt Objections to Demerger Plans
Result Updates - May 2, 2025

Vedanta Q4 FY25 Earnings: Robust Profit Surge Fueled by Cost Cuts and Commodity Gains

 Vedanta Q4 FY25 Earnings: Robust Profit Surge Fueled by Cost Cuts and Commodity Gains

 

Vedanta Ltd., one of India’s leading diversified natural resources companies, reported a significant turnaround in its fourth-quarter performance for the fiscal year 2024–25 (Q4 FY25), buoyed by lower tax outflows, improved operating efficiency, and higher commodity prices. The company delivered strong top-line and bottom-line growth despite global volatility in metals and energy markets.

Financial Highlights: Q4 FY25

• Net Profit: ₹3,483 crore
This represents a 154% year-on-year (YoY) increase, a sharp rise from ₹1,372 crore reported in Q4 FY24. The jump was primarily driven by a lower effective tax rate and favourable commodity pricing.
• Revenue: ₹39,523 crore
Up 13.9% YoY compared to ₹34,712 crore in the year-ago quarter. This increase was led by higher sales volumes in the aluminium, zinc, and oil & gas segments, along with improved realizations.
• EBITDA: ₹13,827 crore
EBITDA margin stood at 35%, the highest in the last 12 quarters, supported by operational efficiencies and cost rationalization.
• Basic EPS: ₹9.41 per share, compared to ₹3.69 in Q4 FY24.

Segment-Wise Performance
• Aluminium Business:
Higher aluminium prices and improved cost efficiencies contributed significantly to profitability. The company also reported increased production volumes, aided by better plant utilization rates.
• Zinc and Lead (Hindustan Zinc):
Zinc volumes and premiums improved YoY, backed by higher prices and robust demand. Hindustan Zinc, a key subsidiary, played a pivotal role in driving consolidated profitability.
• Oil & Gas:
The segment saw improved realization on the back of stable global crude prices. Production volumes were steady, though upstream investment remains moderate.
• Iron Ore and Steel:
These segments experienced steady growth, though iron ore margins faced strain from elevated input costs.
Cost and Tax Optimization
One of the key highlights of the quarter was a significant reduction in the effective tax rate, which helped boost net profit. Vedanta also executed several cost-efficiency initiatives across its operations, including logistics optimization and raw material procurement efficiencies, enhancing its EBITDA margin.

Full-Year FY25 Overview
• Net Profit: ₹9,854 crore (up 78% YoY)
• Revenue: ₹1,52,390 crore (up 19% YoY)
• EBITDA: ₹44,032 crore
The full-year performance reflects a broader recovery in the commodities cycle and the company’s ability to manage costs amid inflationary pressures and regulatory complexities.

Dividend and Capital Allocation

Vedanta declared a final dividend of ₹20.50 per share, maintaining its stance on rewarding shareholders while preserving liquidity for capex and debt servicing.

Debt and Financial Health

Gross debt stands at ₹58,752 crore, with a net debt-to-EBITDA ratio improving to 1.3x, compared to 1.9x a year ago. Free cash flows remained strong, providing adequate headroom for future investment and debt servicing.

Stock Market Reaction

Despite robust earnings, Vedanta’s stock closed slightly lower on April 30, 2025, reflecting some investor caution due to global commodity price uncertainties and long-term sustainability of current margins. However, analysts remain largely positive about the company’s medium-term outlook given its diversified portfolio and strong cost control measures.

Management Commentary

Vedanta’s leadership reaffirmed its commitment to prudent capital deployment, advancing technological upgrades, and upholding its ESG (Environmental, Social, and Governance) responsibilities. CEO Sunil Duggal highlighted the company’s plans to accelerate low-carbon initiatives and expand production capabilities in core segments such as aluminium and zinc.

Outlook for FY26

Going forward, Vedanta aims to enhance its aluminium smelting and oil exploration capacities while maintaining its focus on cost efficiency. Analysts expect commodity markets to remain moderately favourable, with potential upside from energy and infrastructure demand in India and China.

Conclusion

Vedanta recorded significant gains in profit and performance during Q4 FY25, driven by favourable market dynamics and enhanced operational discipline. Although fluctuations in global commodity prices may present near-term challenges, the company’s broad-based business foundation and commitment to sustainable expansion provide a solid platform for consistent progress in FY26.

 

 

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Banking Stocks Provide Stability Amid Nifty Volatility; Focus Turns to SBI Q4 Results

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Adani Group Emerges as Leading Contender for Jaiprakash Associates: A Game-Changing Bid in India’s Infrastructure Sector
Result Updates - May 2, 2025

Adani Enterprises Reports Exceptional Growth in Quarterly and Yearly Performance

Adani Enterprises Reports Exceptional Growth in Quarterly and Yearly Performance

 

Company Profile

Adani Enterprises Limited (AEL) stands as the cornerstone of the Adani Group, one of India’s largest and most diverse multinational business conglomerates. Founded in 1988 and headquartered in Ahmedabad, AEL acts as an incubator, developing businesses in high-growth sectors such as airports, roads, renewable energy, data centers, and defense. It has successfully spun off major entities like Adani Ports, Adani Power, and Adani Green Energy. Focused on infrastructure and sustainability, AEL continues to play a key role in India’s economic development.

Financial performance

• Quarterly performance
In the quarterly comparison between December 2024 and March 2025, the company posted strong financial growth. Total income increased by 17.45%, rising from ₹23,500.54 crore to ₹27,601 crore. Operating profit skyrocketed, jumping from ₹575.56 crore to ₹1,313 crore, achieving an outstanding growth of 128.10%.Profit Before Tax (PBT) saw a significant increase of 813.48%, moving from ₹575.56 crore to ₹5,258.73 crore. Most notably, net profit surged from ₹57.83 crore to ₹3,844.91 crore, reflecting a massive growth of over 6,500%. This dramatic improvement was mirrored in the Earnings Per Share (EPS), which jumped from ₹0.04 to ₹32.98, indicating exceptional gains for shareholders.

• Yearly performance
On a year-over-year basis, the company showed steady revenue growth and outstanding profitability improvements. Total revenue grew modestly by 2.12%, increasing from ₹98,281.51 crore in FY24 to ₹100,365.08 crore in FY25. Operating profit rose by 15.83%, and PBT more than doubled with a 112.77% increase, climbing from ₹4,924.91 crore to ₹10,478.74 crore. Net profit surged by 119.08%, rising to ₹7,099 crore from ₹3,240.78 crore the previous year. EPS followed suit, more than doubling from ₹27.24 in FY24 to ₹60.55 in FY25. These results suggest that while revenue growth was modest, the company achieved substantial operational efficiency and profitability, delivering strong returns to its shareholders.

Key business drivers

Adani New Industries (ANIL)
* Solar module sales grew by 59% YoY, reaching 4,263 MW, with improved EBITDA margins.
*The construction of a new 6 GW cell and module production line has begun, with financial closure successfully secured.
• Wind turbine capacity increased to 2.25 GW (450 sets/year) with four WTG models.
• Won the “ICC Green Energy Award” at the 5th Green Urja Awards.

AdaniConnex Pvt Ltd (ACX – Data Centers)
* Hyderabad Data Center: Phase II (9.6 MW) has achieved 100% completion of civil and structural work, with approximately 38% of MEP work completed.
• Noida Data Center: Construction completed for 50 MW civil & structural and 10 MW MEP.
• Pune Data Centers: Phase I is approaching completion, with Pune I at approximately 78% and Pune II at around 89%, each having a capacity of 9.6 MW.

Adani Airport Holdings Ltd (AAHL – Airports)
• Added 12 new routes and 8 new flights during the quarter.
• Mumbai Airport received the “Diamond Rating” for outstanding emission reduction from the Global Energy and Environment Foundation.

Natural Resources – Mining Services
*The Parsa coal block has commenced operations, achieving a peak capacity of 5 MMTPA.
• Holds a portfolio of 13 mining service contracts, with six currently operational.

Conclusion

Adani Enterprises posted impressive financial growth in both quarterly and yearly comparisons. Quarterly income grew by 17.45%, with net profit soaring by over 6,500%. Yearly revenue saw a modest 2.12% increase, but operating profit and net profit rose significantly, by 15.83% and 119.08%, respectively. These results highlight the company’s strong profitability and operational efficiency, delivering excellent returns to shareholders.

 

 

 

 

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Results for Q4 FY25 of Indian Oil Corporation: Excellent Results During Strategic Expansion

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Results for Q4 FY25 of Indian Oil Corporation: Excellent Results During Strategic Expansion
Result Updates - May 2, 2025

Results for Q4 FY25 of Indian Oil Corporation: Excellent Results During Strategic Expansion

Results for Q4 FY25 of Indian Oil Corporation: Excellent Results During Strategic Expansion

 

 

Company Profile

One of India’s biggest integrated oil and gas networks is run by Indian Oil Corporation, which was founded in 1959. Refining, pipeline transportation, petroleum product marketing, gas and crude oil production and exploration, petrochemicals, and alternative energy sources like electric vehicles and biofuels are all part of its operations. Playing a vital role in India’s energy stability, IOCL manages 11 refineries along with an extensive distribution network.

Financial Performance: FY25 vs FY24

Higher refining margins and efficient cost controls propelled Indian Oil Corporation Ltd.’s (IOCL) robust year-over-year financial performance in Q4 FY25. A considerable gain over the previous fiscal year was demonstrated by the company’s ₹10,795 crore Profit Before Tax (PBT) and ₹8,102 crore Profit After Tax (PAT). Additionally, compared to FY24, the EBITDA contribution increased significantly, highlighting operational efficiency. Interest income was ₹425 crore, while interest expenses totaled ₹2,046 crore. Furthermore, IOCL’s core refining operation continued to be profitable, as seen by its Gross Refining Margin (GRM), which came in at US$7.85 per barrel.

Revenue from Key Segments

Throughout the quarter, Indian Oil Corporation Ltd. (IOCL), which works in a number of verticals, showed excellent success in each. The company demonstrated operational excellence in refinery operations by achieving a throughput of 18.5 MMT, a distillate yield of 79.7%, and a capacity utilization of 107.1%. With a flow of 25.8 MMT, pipeline operations demonstrated excellent dependability and efficiency. 3.88 MMT of LPG, 3.87 MMT of Motor Spirit (MS), and 9.32 MMT of High-Speed Diesel (HSD) were among the 21.87 MMT of petroleum products sold domestically by IOCL in marketing activities. Additionally, the business recorded 4.57 MMT in other sales, which included gas, petrochemicals, and associated products, and exported 1.33 MMT. With a 25.95 MMT total sales volume, IOCL strengthened its robust distribution network in both the Indian and foreign markets.

Strategic Developments

Indian Oil Corporation Ltd. (IOCL) made great strides in improving its long-term competitiveness in Q4 FY25 by implementing strategic initiatives in a number of areas. With consistent investments in ethanol blending, green hydrogen, and electric vehicle (EV) infrastructure, the corporation kept moving forward with its green energy goal. Furthermore, by increasing its downstream capacity to generate more value-added products, IOCL concentrated on petrochemical expansion. With efforts focused on enhancing supply chain effectiveness and customer interaction through cutting-edge digital platforms, digital transformation continued to be a top goal. According to the updated Ministry of Corporate Affairs (MCA) guidelines, IOCL’s debt level was manageable at ₹1,34,466 crore, excluding lease liabilities. Additionally, the corporation had strong cash support from its oil bond holdings, which had a face value of ₹3,167 crore.

Key Financial Ratios

Indian Oil Corporation Ltd. (IOCL) showed strong financial health in Q4 FY25, supported by strong operational performance and careful budgetary management. IOCL sustained a strong financial footing with a stable debt-to-equity ratio of 0.75. With a Return on Capital Employed (ROCE) of 8.73%, the company showcased its ability to optimize capital utilization effectively.

The EBITDA margin stood at 5.03%, supported by stable product pricing and improved gross refining margins (GRM). The interest coverage ratio increased from 4.11x to 4.36x during the preceding fiscal year, indicating improved debt payment capacity and increased profitability.

These financial indicators highlight IOCL’s robust balance sheet and effective operations, setting the business up for long-term success in the changing energy industry.

 

Metric Q4 FY24 Q4 FY25 Change / Insight
Sales (₹ Cr) 198,650 195,270 Slight decline (−1.7%)
Gross Margin (%) 14.00% 16.00% Improved, indicating better cost control
Operating Profit (₹ Cr) 11,975 15,029 ↑ Strong recovery in core operations
OPM (%) 6% 8% ↑ Operational efficiency improved
EBIT (₹ Cr) 9,567 12,223 ↑ Higher earnings before interest & tax
Profit Before Tax (₹ Cr) 7,420 10,045 ↑ 35.3% growth, aided by better margins
Net Profit (₹ Cr) 5,488 8,368 ↑ 52.4% YoY growth in bottom-line
Net Margin (%) 2.76% 4.29% ↑ Reflects improved profitability
EPS (₹) 3.65 5.75 ↑ Strong earnings growth per share

 Market Insights

Fuel consumption in India has steadily increased in the post-COVID era due to increased use in the industrial, transportation, and aviation sectors. Indian Oil Corporation Ltd. (IOCL) was able to attain substantial export quantities and strong inland sales by making good use of this momentum. The company’s varied product line, which includes natural gas and petrochemicals, protects against fluctuations in the price of crude oil and guarantees steady revenue. Additionally, IOCL’s capacity to process a significant amount of high-sulfur crude—55.2%—emphasizes its flexibility in refining and its ability to acquire oil at a reasonable price, which improves overall operational resilience.

Outlook

With sustained demand, favorable GRM, and strategic investments in clean energy, IOCL is well-positioned for FY26. The government’s continued push for energy transition, along with the company’s green energy initiatives, will likely unlock long-term value.

 

 

 

 

 

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TVS Motor Company Limited – Q4 FY25 Financial Results Report

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TVS Leads EV Two-Wheelers; Ather Overtakes Ola
Result Updates - April 30, 2025

TVS Motor Company Limited – Q4 FY25 Financial Results Report

TVS Motor Company Limited – Q4 FY25 Financial Results Report

 

Executive Summary

TVS Motor Company concluded FY25 with a robust financial performance marked by strong growth in revenues and profitability across both its automotive and financial services businesses. The company demonstrated operational resilience, disciplined capital allocation, and effective cost control, despite macroeconomic challenges. Consolidated revenue grew to over ₹44,000 crore, while net profit for the year stood at ₹2,379.81 crore—an increase of 33.7% over FY24. The company declared an interim dividend of ₹10 per share (1000%) earlier in March 2025.

Consolidated Financial Highlights – Q4 FY25

Metric Q4 FY25 Q4 FY24 YoY Growth
Revenue from Operations ₹11,542 crore ₹9,942 crore 16.1%
Total Income ₹11,474 crore ₹9,899 crore 15.9%
EBITDA (approx. from margins) ₹1,426 crore ₹1,020 crore ~40%
Profit Before Tax (PBT) ₹992.88 crore ₹637.35 crore 55.8%
Profit After Tax (PAT) ₹697.51 crore ₹411.53 crore 69.5%
EPS (Basic/Diluted) ₹13.64 ₹8.15 67.4%

Profit includes ₹10.81 crore from discontinued operations related to divested divisions in a subsidiary.

 

Full Year Consolidated Performance – FY25

Metric FY25 FY24 YoY Growth
Revenue from Operations ₹44,089.01 crore ₹38,778.82 crore 13.7%
Total Income ₹44,158.57 crore ₹38,884.64 crore 13.6%
EBITDA Margin 10.8% 9.9% +90 bps
Net Profit After Tax ₹2,379.81 crore ₹1,778.54 crore 33.7%
Net Profit Margin (%) 5.4% 4.5% +90 bps
EPS (Basic/Diluted) ₹47.05 ₹35.50 32.5%

          

     

Segmental Performance (FY25)

 A. Automotive Vehicles & Parts

The company reported revenue of ₹37,702 crore, up from ₹33,188 crore in FY24. Profit Before Tax (PBT) stood at ₹2,849.85 crore. Operating leverage improved through volume growth and cost optimization

 

B. Financial Services

The company’s revenue climbed to ₹6,559 crore in FY25, marking an increase from ₹5,791 crore in the previous fiscal year. Profit Before Tax (PBT) stood at ₹959.55 crore. Interest service coverage improved to 14.57x, compared to 10.53x in FY24.

 

            Key Operational Metrics

Metric FY25 FY24
Vehicle Sales Volume 47.44 lakh units 41.91 lakh units
EBITDA Margin 10.8% 9.9%
Net Debt to Equity (Consolidated) 2.76x 3.38x
Debtors Turnover 24.8x 25.3x
Inventory Turnover 11.5x 11.7x

      

                Cash Flow Highlights (FY25)

Particulars Standalone (₹ Cr) Consolidated (₹ Cr)
Net Cash from Ops 4,266 3,503
Net Cash from Investing (3,871) (2,899)
Net Cash from Financing (587) 1,155
Net Change in Cash (192) 1,759
Closing Cash Balance ₹294 crore ₹4,115 crore

   

             

Notable Updates

The FY25 PLI incentive was accounted for in accordance with the Standard Operating Procedure (SOP) established by the Ministry of Heavy Industries (MHI). A fair value loss of ₹89.08 crore was recorded in Q4 due to the revaluation of investments. Additionally, the company undertook subsidiary realignment, which included divestment in ION Mobility and other associates, the addition of new subsidiaries such as DriveX Mobility, and the reclassification of certain divisions like Injection Moulding and Seating as discontinued operations.

Balance Sheet Snapshot (Consolidated)

As on 31st March 2025 ₹ Crore
Total Assets ₹47,937
Total Equity ₹9,442
Total Liabilities ₹38,495
Net Worth ₹8,481
Total Borrowings ₹27,616
  • Asset base supported by investments in EVs, overseas businesses, and finance arms
  • High cash reserves: ₹4,115 crore (Consolidated)

                               

Subsidiaries & Global Footprint

TVS Motor’s consolidated results include contributions from its Financial and Mobility Services segment, comprising TVS Credit, DriveX, Harita ARC, and TVS Housing Finance. The company’s global operations extend across India, the UK, Europe, Indonesia, Singapore, and Dubai

Outlook

TVS Motor continues to execute a strategic blend of traditional ICE vehicle dominance with electric mobility investments. International subsidiaries, financial services, and product innovation across the value chain remain key drivers for FY26. With reduced debt leverage, strong free cash flows, and operational discipline, the company is well-positioned for future resilience and expansion.

 

 

 

 

 

 

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Vishal Mega Mart’s Strong FY25 Growth and Outlook for Market Expansion

 

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A New Chapter for Vishal Mega Mart: Major Stake Trim and a $588 Million Deal on the Horizon
Result Updates - April 30, 2025

Vishal Mega Mart's Strong FY25 Growth and Outlook for Market Expansion

Vishal Mega Mart’s Strong FY25 Growth and Outlook for Market Expansion

 

Company Profile:

Vishal Mega Mart is a leading retail chain in India, founded in 2001.It provides a diverse selection of budget-friendly apparel, general merchandise, and FMCG products. As of March 31, 2025, the company operates 696 stores across 458 cities, with a total retail area of ~12.2 million square feet. Vishal Mega Mart also serves over 145 million consumers and has a growing presence in quick commerce.

Quarterly Performance (Q3 FY25 vs Q4 FY25):

Vishal Mega Mart reported a decline in performance in Q4 FY25 compared to Q3. Revenues dropped by 18.74%, from ₹3,136 crore in December 2024 to ₹2,548 crore in March 2025. This contraction in sales led to a 29.31% fall in operating profit, while Profit Before Tax (PBT) saw a steep decline of 55.68%. Net profit declined from ₹263 crore to ₹115 crore, a sharp fall of 56.27%. Earnings Per Share (EPS) also reduced significantly by 56.90%, dropping to ₹0.25. The quarter indicates pressure on margins and profitability, potentially due to reduced consumer spending, seasonal factors, or cost challenges.

Annual Performance (FY24 vs FY25):

Despite a demanding quarter, Vishal Mega Mart delivered strong annual growth in FY25, with sales climbing 20.26% to ₹10,716 crore, up from ₹8,912 crore in FY24. Operating profit increased by 19.88%, and more impressively, PBT and net profit grew by 36.68% and 36.80%, respectively. EPS for the full year improved from ₹1.02 to ₹1.37, representing a 34.31% increase, signaling enhanced value creation for shareholders. The company managed to scale its business while improving efficiency and profitability over the fiscal year.

Key operational highlights

• As of March 31, 2025, the company operates 696 stores across 458 cities, covering a retail space of approximately 12.2 million square feet.
• For FY25, the revenue breakdown by category was as follows: 44% from Apparel, 28% from General Merchandise, and 28% from FMCG.
• The company boasts a large and loyal customer base of around 145 million as of March 31, 2025.
• The proportion of revenue from the company’s proprietary brands increased to 73.1% in FY25, up from 71.8% in FY24.
• In addition, the company has made consistent progress in its quick commerce initiative, which is now available in 656 stores across 429 cities, with a registered user base of 8.7 million.

Market Reaction:

On April 30, 2025, Vishal Mega Mart’s stock surged by 9%, reflecting positive investor sentiment and confidence following the company’s strong financial performance and operational growth. The rise in stock price highlights investor optimism regarding the company’s future prospects, particularly in its expanding retail network and successful quick commerce initiative.

Final Take:

Vishal Mega Mart has demonstrated strong performance in FY25, with notable growth in sales, operating profit, and net profit, driven by its diverse product categories and expanding store network. The company has also made significant progress in its quick commerce initiative, further enhancing its market position.
Despite a challenging Q4 FY25, where sales and profits saw a decline, the company’s overall performance for the full year reflects resilience and strategic growth. The increase in the contribution of its own brands to revenue highlights the company’s growing brand equity and consumer loyalty.
The positive market reaction, with a 9% rise in stock price on April 30, 2025, signals strong investor confidence in Vishal Mega Mart’s long-term prospects, particularly as it continues to innovate and expand its presence across India.
In conclusion, Vishal Mega Mart remains well-positioned for continued growth, with its strong consumer base, expanding retail footprint, and increasing focus on digital and quick commerce services.

 

 

 

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Star Health Q4 FY25: Profits Drop, Claims Surge!

 

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Star Health Q4 FY25: Profits Drop, Claims Surge!
Result Updates - April 30, 2025

Star Health Q4 FY25: Profits Drop, Claims Surge!

Star Health Q4 FY25: Profits Drop, Claims Surge!

 

Despite robust double-digit growth in gross written premiums and a broader rural footprint, Star Health’s Q4 performance highlights rising claims expenses and a dramatic total collapse in net profit.

Summary:

Star Health and Allied Insurance reported a sharp decline in profits for Q4 FY25, recording an underwriting loss of ₹378 crore. The company’s combined ratio increased to 101.1%, climbing from 97.3% in the prior year, signaling a worrisome shift. Although the insurer saw a 10% YoY increase in Gross Written Premium and robust digital expansion, higher medical inflation and claim payouts led to significant financial strain.

A Disappointing Quarter for Star Health

Star Health and Allied Insurance Company Ltd. has reported a dramatic decline in its profitability for the fourth quarter and full year ended March 31, 2025. The standalone net profit plummeted by almost 100%, with the insurer posting an underwriting loss of ₹378 crore in FY25, compared to a modest ₹89 crore profit in FY24.
Profit after tax (PAT) fell to ₹646 crore under IGAAP and ₹787 crore under IFRS, down from ₹845 crore and ₹1,103 crore, respectively, in the previous year. The decline was caused by a rise in claims, healthcare cost inflation, and an increase in the combined ratio to 101.1%, surpassing the critical 100% mark. This suggests that the company’s claim payouts and operational costs exceed the revenue generated from premium collections.

Claims Surge and Expense Pressure

During FY25, the company paid over ₹10,350 crore in claims, a significant rise from previous years. Speciality categories such as orthopaedics, cardiology, cancer, and infectious diseases consumed close to ₹1,000 crores in payouts, with ₹2,000 crores paid out to senior citizens alone. The net incurred claim ratio rose to 70.3% under IGAAP and 70.7% under IFRS, indicating a surge in claim volumes beyond projections.
Operating expenses remained elevated at 30.4%, with administrative and distribution costs remaining high despite technology-led efficiency initiatives.

GWP Growth Strong, but Profitability Concerns Mount

Even though the bottom-line figures were disappointing, the company reported consistent growth in its top-line metrics. Gross Written Premium (GWP) rose 10% YoY to ₹16,781 crore under the new 1/n accounting norm and 15% to ₹17,553 crore without the 1/n adjustment. Retail health, contributing 93% of total GWP, remained the company’s core growth engine.
Renewal premium retention also stayed healthy at 97%, reflecting continued trust from existing policyholders.

Digital and Rural Expansion Pay Off

A highlight for the quarter was the company’s continued investment in digital and rural outreach. Star Health’s digital platform saw a 71% increase in fresh business through digital channels, 89% of policies were sourced digitally, and over 63% of renewals were done without human intervention.
Moreover, 51% of all insured people who lived during FY25 came from semi-urban and rural India. Notably, 60% of the retail claims settled were from these non-metro areas, aligning with Star Health’s aim of inclusive coverage.

Solvency and Investment Performance Remain Stable

The company demonstrated robust financial health with a solvency ratio 2.21x, well above the IRDAI requirement of 1.5x. This highlights a strong ability to meet sustained obligations over time. Additionally, total investment assets impressively reached ₹17,898 crore, reflecting a solid investment strategy. Furthermore, the investment yield experienced a marginal increase, rising to 7.8% from 7.7% in the previous fiscal year (FY24), highlighting the effectiveness of the company’s investment operations.

Management Commentary and Outlook

In a recent statement, Managing Director and CEO Anand Roy emphasized Star Health’s unwavering commitment to broadening its retail business, particularly in historically underserved regions. He outlined a range of forthcoming initiatives to promote customer-focused care models, innovative wellness programs, and accessible home healthcare services designed to enhance patient experiences.

Roy acknowledged the persistent challenges posed by rising inflation in healthcare costs, creating a more complicated landscape for service delivery. Nevertheless, he expressed confidence that the path forward lies in leveraging technology to drive efficiency and implementing prudent risk management strategies to navigate these economic pressures effectively. His insights paint a picture of a forward-thinking organization dedicated to adapting and thriving in a changing healthcare environment.

Conclusion: A Tough Quarter, But Not Without Silver Linings

Star Health’s Q4 and full-year FY25 performance presents a classic case of substantial growth marred by cost escalation and margin erosion. While the company’s leadership in retail health and strong solvency offer stability, sustained profitability will depend on effective underwriting, prudent pricing, and sharper cost controls. The year ahead is likely crucial as the company works to return to a healthier profit trajectory.

 

 

 

 

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In India, Bosch Launches a Smart Supply Chain Platform

 

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Green Growth: Ambuja's Capacity Surge and Record Earnings
Result Updates - April 30, 2025

Green Growth: Ambuja's Capacity Surge and Record Earnings

Green Growth: Ambuja’s Capacity Surge and Record Earnings

 

Adani Group’s Ambuja achieves 100 MTPA milestone, posts highest-ever profit fueled by volume, strategic moves, and commitment to sustainability.

Ambuja Cements, a prominent entity within the Adani Group, has achieved a major milestone in the cement sector, now boasting a production capacity that exceeds 100 million tonnes annually. The company also announced its highest-ever annual profit after tax (PAT) of ₹5,158 crore, demonstrating a robust 9% year-on-year (YoY) increase for the fiscal year concluding on March 31, 2025.

This noteworthy accomplishment propels Ambuja Cements to become the ninth-largest cement producer worldwide based on its production capabilities. The company’s exceptional financial performance throughout FY25 was propelled by substantial growth in sales volumes, strategically advantageous acquisitions, and enhanced operational efficiencies implemented across its various units. Throughout the entirety of fiscal year 2025, Ambuja Cements registered its peak annual sales volume to date, hitting 65.2 million tonnes, a substantial 10% rise year-over-year. The company also celebrated a record annual revenue figure of ₹35,045 crore, demonstrating a robust 6% growth from the prior fiscal year.

In his remarks on this notable milestone, Vinod Bahety, the Whole Time Director & CEO of Ambuja Cements, stated, “Exceeding the 100 million tonnes per year production mark is a truly momentous occasion for Ambuja Cements.” This milestone underscores our inherent strength, our ambitious plans for growth, and our steadfast commitment to the progress of India’s infrastructure.” This milestone puts us on a firmer path towards our ambition of reaching a production capacity of 140 MTPA by the financial year ending 2028.

Strong Fourth-Quarter Performance and Operational Highlights

In the final quarter of fiscal year 2025, Ambuja Cements exhibited significant momentum, announcing a standalone profit after tax (PAT) of ₹929 crore, marking a considerable 75% increase compared to the corresponding period in the previous year. The company’s Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for the fourth quarter stood at ₹1,868 crore, with an impressive EBITDA per tonne (PMT) of ₹1,001 and healthy EBITDA margins of 18.9%. Quarterly cement sales volume reached an all-time high of 18.7 million tonnes, reflecting a strong 13% increase on a year-over-year basis. Notably, Ambuja Cements continues to maintain a debt-free status, with a robust net worth of ₹63,811 crore and substantial cash reserves amounting to ₹10,125 crore.

Growth Fueled by Environmental and Digital Initiatives

Demonstrating a strong commitment to sustainability, Ambuja Cements has made substantial progress in its renewable energy transition, with 299 MW of green power capacity now operational, including 200 MW from solar sources and 99 MW from wind energy. This is part of a larger strategy to reach 1 GW of renewable capacity, with the remaining portion expected to be operational by the end of fiscal year 2026.

Consequently, the share of green power in the company’s energy mix has risen to 26.1%, with an ambitious target of reaching 60% by FY28. Furthermore, the company’s proactive implementation of cost-saving measures across various operational areas, including logistics, fuel consumption, and manpower optimization, has contributed significantly to maintaining its industry-leading profit margins.

The strategic acquisition of Orient Cement and the successful operational stabilization of the recently acquired Penna and Sanghi cement assets have played a crucial role in enhancing the company’s overall scale of operations and realizing significant synergy benefits. Ambuja Cements is also actively investing in digital transformation across its value chain, incorporating AI-driven operational processes, implementing smart logistics solutions, and enhancing customer engagement through user-friendly mobile applications such as OneConnect and Reward Connect.

Industry analysis indicates that India’s overall cement consumption experienced a growth rate of approximately 6.5-7% in the fourth quarter of FY25, supported by increased construction, rural demand, and infrastructure investments. Looking ahead to FY26, market forecasts project a further growth in cement demand of 7-8%, primarily driven by a pro-infrastructure focus in the government’s budget allocations and a positive outlook for the residential housing sector.

Commitment to Sustainability and Industry Recognition

Ambuja Cements continues to be recognized as a leader in sustainability within the industry, achieving significant water positivity and plastic negativity ratios. A substantial portion of its product mix comprises blended cement. The company has also pledged to plant 8.3 million trees by 2030, aligning with the Adani Group’s broader environmental goals. The company’s commitment has been acknowledged through awards like the Golden Peacock Award 2024 for ESG excellence and an ‘A-’ rating in the CDP Climate Leadership Score. TRA Research has also named Ambuja Cements as ‘India’s Most Trusted Cement Brand’ for the second consecutive year.

Final Thoughts:

Ambuja Cements Solidifies Market Position Through Capacity Expansion, Profitability, and Sustainable Practices

Ambuja Cements’ achievement of surpassing 100 MTPA in production capacity, coupled with its record-breaking annual profit, underscores its strong operational execution and strategic growth initiatives within India’s dynamic cement sector. The company’s commitment to expanding its green energy footprint and embracing digital transformation further positions it for sustainable and efficient growth. Its proactive approach to cost management, strategic acquisitions, and focus on meeting the growing demand have been key drivers of its success. Furthermore, Ambuja Cements’ consistent recognition for its ESG efforts and brand trust reinforces its position as a responsible and leading player in the industry. As India’s infrastructure development and housing sector continue to grow, Ambuja Cements appears well-positioned to capitalize on these opportunities while maintaining its focus on sustainability and innovation.

 

 

 

 

 

 

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RBL Bank Q4 Results

 

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RBL Bank Q4 Results
Result Updates - April 29, 2025

RBL Bank Q4 Results

RBL Bank Q4 Results

Executive Summary

Bank continued to maintain strong capital , stable asset quality. A key development in FY2025 was the strategic adoption of revised RBI investment guidelines, which enhanced the bank’s net worth and accounting clarity.

Key Financial Highlights (Standalone)

Particulars (₹ in crore) Q4 FY25 Q3 FY25 Q4 FY24 FY25 FY24
Interest Earned 3,476 3,536 3,339 14,039 12,394
Other Income 1,000 1,073 875 3,806 3,043
Total Income 4,476 4,610 4,215 17,845 15,437
Operating Profit (before prov.) 861 997 887 3,627 3,030
Provisions (other than tax) 785 1,189 414 2,959 1,778
Net Profit 69 33 353 695 1,168
Capital Adequacy Ratio (Basel III) 15.54% – 16.18% 15.54% 16.18%
Gross NPA (%) 2.60% 2.92% 2.65% 2.60% 2.65%
Net NPA (%) 0.29% 0.53% 0.74% 0.29% 0.74%
Return on Assets (RoA) 0.20% 0.09% 1.08% 0.51% 0.96%

                         

Segment Performance Breakdown

Retail banking contributed ₹1,613 crore in revenue, dominating the segment mix. Corporate banking and treasury brought in ₹672 crore and ₹975 crore respectively. Retail banking faced losses due to heightened provisioning from the JLG portfolio.

Strategic Accounting Changes (FY25)

The bank adopted RBI’s revised investment guidelines from April 2024, resulting in a ₹75.58 crore transfer to general reserve and fair value adjustment across AFS and FVTPL portfolios, enhancing transparency.

Cash Flow Summary (Standalone)

Operating cash flow was negative at ₹84.18 crore due to growth in advances. Cash and cash equivalents ended at ₹1,251.68 crore, down from ₹1,412.46 crore a year ago.

Consolidated View

Consolidated net profit was ₹71.71 crore for FY2025. The bank’s net worth rose to ₹1,506 crore, and deposits closed at ₹11,093 crore, backed by consistent credit growth and stable capital ratios.

VIII. Capital and Shareholder Updates

RBL declared a ₹1 per share dividend. The bank allotted 2.78 million shares under ESOP schemes during the year, reflecting long-term talent investment.

Key Financial Ratios

Earnings per Share stood at ₹11.45 (basic) and ₹11.40 (diluted) on a standalone basis. Debt-equity ratio stood 0.88 and total debt to total assets was at 9.36%.

Outlook and Conclusion

The conservative provisioning approach, improved asset quality, and regulatory compliance put the bank on a solid foundation for sustainable growth into FY2026.

Market Insights on Q4 FY2024 Performance

In Q4 FY2024, RBL Bank’s financial performance received considerable media attention, highlighting its strategic gains and sound fundamentals. The bank recorded a net profit of ₹353 crore, a 30% year-on-year increase, driven by a solid 17.87% rise in net interest income (NII), which stood at ₹1,599.85 crore. Total income for the quarter grew by 27%, reaching ₹4,214.56 crore, while operating profit rose 49% from the previous year.

Improvement in asset quality was evident with gross NPAs declining to 2.65% and net NPAs reducing to 0.74%. Net interest margin (NIM) was maintained at a healthy 5.45%, indicating efficient interest spread management.

The bank declared a dividend of ₹1.50 per equity share for FY2024, reflecting its strong financial position and shareholder commitment. A 22% year-on-year growth in deposits further enabled strong credit disbursement, particularly in the retail segment, where monthly disbursements exceeded ₹800 crore, encompassing business, home, and rural vehicle loans.

Challenges were also noted, with a slight increase in asset slippages to 0.56%, primarily from unsecured and microfinance segments. Despite this, RBL’s prudent provisioning policies ensured the bottom line remained protected.

Overall, media coverage emphasized RBL Bank’s solid execution and steady recovery in FY2024, reaffirming its resilience and readiness to navigate upcoming market dynamics.

 Investor Presentation Highlights – Q4 & FY2025

The investor presentation for Q4 & FY2025 offered a comprehensive view of RBL Bank’s operational resilience, strategic focus, and performance outcomes. Despite reporting a moderate net profit of ₹69 crore in Q4 FY25, the bank made a 100% provision on gross NPAs in its JLG (Joint Liability Group) portfolio, demonstrating a prudent approach to risk management.

Net Interest Income (NII) for the quarter declined by 2% year-on-year to ₹1,563 crore, with Net Interest Margin (NIM) at 4.89%. On the other hand, the bank recorded a 14% growth in other income to ₹1,000 crore, aided by a 17% increase in core fee income. Operating profit stood at ₹861 crore.

 

 Growth was primarily retail-led:

  • Retail advances grew 13% YoYto ₹55,703 crore.
  • Secured retail advances surged 43% YoY, led by:
  • Business loans: ↑ 37%
  • Housing loans: ↑ 31%
  • Rural vehicle finance: ↑ 24%
    • Commercial banking(mid-corporates/SME) within wholesale banking grew by a notable 29% YoY.
    • Overall advances reached ₹92,618 crore (↑10% YoY).

    Deposit traction and granularity improved:

  • Total deposits grew 7% YoY to ₹110,944 crore.
  • CASA ratio stood at 34.1%.
  • Deposits under ₹3 crore grew 16% YoY and now represent ~50% of total deposits.
  • Over 75% of fixed deposits and savings accounts were digitally sourced, highlighting strong digital adoption.

       

 

Credit cards remained a high-volume portfolio:

  • Cards in force: 5.04 million
  • Total card spends: ₹21,720 crore (Q4)
  • Receivables remained stable, with portfolio expansion outside Tier-1 cities.

 Asset Quality & Capital:

  • GNPA improved to 2.60% (↓32 bps QoQ)
  • NNPA declined to 0.29% (↓24 bps QoQ)
  • Capital Adequacy Ratio (CRAR): 15.54%
  • CET-1 ratio: 14.06%
  • Credit cost for Q4 was 93 bps.

 

 

Digital & Tech Advancements:

  • 5 million customers use RBL’s mobile apps.
  • Daily API calls exceed 1 million, with live end-to-end onboarding for open banking clients.
  • Key features launched include WhatsApp-based account opening, assisted journeys, and digital FD overdraft access.
  • 86% of recurring deposits and 66% of fixed deposits are now booked digitally.

 Sustainability & ESG Focus:

  • Voluntary climate risk policies adopted; target to eliminate coal exposure by FY2034.
  • Strong focus on financial literacy for rural women.
  • Recognized as India’s Best Bank for CSR (AsiaMoney) and awarded for technology innovation by IBA.

 

 

 

 

 

 

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Zepto Eyes ₹1,500 Crore Debt at $5B Valuation

 

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