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Q1 FY23 result updates

CAMPUS ACTIVEWEAR LIMITED Q1 FY23 Result Updates

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

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

Campus Active Wear Limited reported a net profit of Rs. 28.66 crores as compared to Rs. 1.98 crores in Q1 FY22. Sequentially, PAT grew 13.5x times YoY. PAT margins expanded by 703 bps YoY to 8.5% in Q1 FY23.

Revenue from operations surged 149.6% to Rs 337.71 crore in the quarter ended 30 June 2022 as against Rs 135.30 crore in the quarter ended 30 June 2021 supported by strong demand from across segments coupled with a robust omnichannel presence. Both Trade Distribution and Direct-to-Customer channels have demonstrated robust Y-o-Y growth to the tune of 147% and 150% respectively.

EBITDA witnessed a strong growth of 287.5% YoY to INR 622.4 Mn; EBITDA margins expanded by 656 bps YoY to 18.4% in Q1 FY23.
EBITDA was at INR 622.4 mm as compared to INR 160.6 mm in Q1 FY22. EBITDA margin stood at 18.4% in Q1 FY23 (vs. 11.9% in Q1 FY22) owing to better operating leverage.
Profit before tax soared to Rs 42.13 crore in Q1 FY23 as compared to Rs 0.79 crores reported in Q1 FY22.
Total expenses jumped 118.27% YoY to Rs 296.13 crore in the quarter ended 30 June 2022. Cost of materials consumed stood at Rs 201.62 crore (up 104.8% YoY) and employee benefits expense was at Rs 47.23 crore in Q1 FY23.

TTM Q1FY23 Results – Consolidated Revenue from operations increased by 16.9% YoY to INR 13,965.9 mm in TTMQ1FY23 as compared to FY22 full-year revenue at INR 1,1941.8 mm. TTM Q1FY23 EBITDA stood at INR 2,901.0 mm as compared to FY22 Full year EBITDA at INR 2,439.2 mm, demonstrating 18.9% YoY growth. . TTM Q1FY23 EBITDA margin stood at 20.8% vs. 20.4% in FY22. Net Profit during TTM Q1FY23 stood at INR 1,510.9 mm (PAT margin: 10.8%) as against PAT of INR 1,244.1 mm in FY22 (PAT margin: 10.4%).

The strong performance is led by a robust product portfolio.

The sales volume stood at 5.6 million pairs in Q1FY23 as against 2.3 million pairs in Q1FY22, thereby registering 141.0% YoY volume growth. Campus Activewear’s ASP stood at Rs. 597 in Q1FY23 vis-à-vis Rs. 580 in Q1FY22, registering c.3%growth on a YoY basis.

This performance was largely supported by a robust product portfolio of fashion-forward designs, the best product value proposition, and a never-out-of-stock approach. The Company’s strong brand recall amongst preferred sports and athleisure footwear brands positions the company uniquely to garner a wider share of the market.

The shares of Campus Active Wear Limited are trading at Rs. 433.80, up by 2.60%.

Valuations:

The return on equity (ROE) is 32.9% for the quarter ended June 2022. The price-to-earning (P/E) ratio stood at 106. The return on capital employed (ROCE) for the company is 31.2%. The price to book value Campus Active Wear Limited is 29.7. The EV/EBITDA is 55.4. EPS for the quarter is Rs. 4.11.

Lumax recorded its biggest ever profit.

 

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

 

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

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Linc Pen and Plastics Ltd Q1 FY23 Result Updates.

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

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

Linc Pen and Plastics Ltd reported a net profit of Rs. 4.38 crores as compared to the loss of Rs. 1.22 crores in Q1 FY22.
Revenue displayed strong growth and the income for Q1 FY 23 amounted to Rs. 99.26 crores as against Rs. 55.53 crores in Q1 FY 21, cloaking a YoY growth of over 78%. However, the first quarter being traditionally a weaker quarter for the industry as such, income fell by over 11% sequentially.
While the company continued to witness an increase in input costs during the quarter, the company was able to pass on the raw material price increases, as they increased the selling price of the finished products from April 2022. This resulted in improved gross margin, which increased from 22.9% in Q4 FY22 to 25.4% in Q1 FY23.
EBIDTA margin also improved to 9.5% and was up 631 basis points YOY and 277 basis points QoQ in spite of higher RM costs; largely due to increased selling price and relatively lower marketing & new customer acquisition costs.
Commodity prices have started to soften, and prices of key inputs are expected to remain benign in the coming quarters as the focus of central banks has shifted to containing inflation. This along with the continued focus on higher-margin products helped to improve margins and profitability.
Share of ‘Pentonic’ increased to 29.3% in Q1 FY23 as against 25.5% in FY22. The Gross Profit stood at Rs. 2,487 Lacs, up 100.7% YoY & down 1.9% QoQ. Gross Margin was at 25.4%. The earnings before interest, tax, depreciation, and amortization ( EBITDA) during the quarter are Rs. 931 Lacs, up 428% YoY & 25% QoQ. EBITDA Margin was at 9.5%.

Robust growth in revenue led by an increase in Pentonic sales.

Operating EBITDA was up 486.6% YoY at Rs.7.99 crores and Margin stood at 8.2%. Operating EBITDA Margin increased 569 basis points YoY ‘Pentonic’ Sales continued to grow and was over 29% of total revenue for Q1 FY 23.’Pentonic’s’ GPM is 40% and there is a significant increase in the revenue share of ‘Pentonic’ over the last 4 years. Hence, the overall GPM of the Company has increased by 350 basis points. There is a consistent increase in the average selling price.

With the Covid-induced restrictions behind the company, the revenue has been displaying strong growth. Operating Income stood at Rs. 97.94 crores, a growth of 77.7% over the previous year. This resulted in improved gross margin, which increased from 22.9% in Q4 FY22 to 25.4% in Q1 FY23. Operating EBIDTA margin also improved to 8.2% and was up 569 basis points YOY and 288 basis points QoQ. The company’s touchpoints continue to increase with another 12,103 added in this quarter.

The shares of Linc Pen and Plastics Ltd are trading at Rs. 289.25, down by 0.79%.

Valuations:

The return on equity (ROE) is 5.99% for the quarter ended June 2022. The price-to-earning (P/E) ratio stood at 31.4. The return on capital employed (ROCE) for the company is 8.15%. The price to book value Linc Pen and Plastics Ltdis 3.03. The EV/EBITDA is 13.6. EPS stood at Rs. 2.95 in Q1 FY23 vs (Rs.0.82) in the same period last year. Net Debt/Equity stood at (0.03) against 0.02 in FY 22 and Net Debt/Operating EBITDA stood at (0.15) against 0.13 in FY22. Net Debt reduced by Rs. 7.76 crores from 31st March 2022 and stood at (Rs. 4.86) crores as against Rs. 2.90 crores in FY 22.

Lumax recorded its biggest ever profit.

 

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

 

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

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Greaves cotton limited Q1 FY23 Result Updates

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

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

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

Consistent Growth riding on strong brand traction and improved efficiency.

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

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

Valuations:

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

Lumax recorded its biggest ever profit.

 

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

 

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

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Phoenix Mills Limited Q1 FY23 Result Updates.

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

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

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

The Hospitality segment witnessed robust all-round performance.

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

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

Valuations:

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

Lumax recorded its biggest ever profit.

 

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

 

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

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Bharat Forge Ltd Q1 FY23 Result Updates.

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

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

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

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

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

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

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

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

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

Valuations:

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

Lumax recorded its biggest ever profit.

 

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

 

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

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Max Healthcare Institute Ltd Q1 FY23 Result Updates.

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

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

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

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

Improvement in all operational and financial parameters.

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

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

Valuations:

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

Lumax recorded its biggest ever profit.

 

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

 

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

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tata Chemicals Ltd Q1 FY23 Result Updates.

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

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

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

Robust soda ash demand continues across all geographies and applications.

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

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

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

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

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

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

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

Valuations:

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

Lumax recorded its biggest ever profit.

 

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

 

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

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Hindalco Industries Limited Q1 FY23 Result Updates.

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

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

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

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

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

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

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

Valuations:

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

 

 

Lumax recorded its biggest ever profit.

 

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

 

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

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

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

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

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

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

High Demand due to WFH culture:

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

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

Valuations:

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

J B Chemicals and Pharmaceuticals Limited  Q1 FY23 Result Updates.

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

J B Chemicals and Pharmaceuticals Limited  Q1 FY23 Result Updates.

Higher treasury income and other costs hamper net profit.

 

 

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

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

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

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

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

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

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

 

Robust revenue growth despite a challenging operating environment.

 

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

 

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

 

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

 

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

 

Valuations:

 

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

 

 

 

 

 

 

 

 

 

 

 

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