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Q1 FY23 result updates

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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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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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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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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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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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.

 

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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Business, Equities, Market News, Markets, Research, Result Updates - August 18, 2022

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.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Business, Equities, Market News, Markets, Research, Result Updates - August 17, 2022

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.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Business, Equities, Market News, Markets, Research, Result Updates - August 17, 2022

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.

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Peerless Group to Exit Insurance Distribution and Double-Down on Hospitals
Business, Equities, Market News, Markets, Research, Result Updates - August 16, 2022

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.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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