Stock to Watch Today - Rupeedesk Reports - 06.02.2023
Stock to Watch Today - Rupeedesk Report
Stock to Watch Today - Rupeedesk Reports
Buzzing Stocks: Tata Steel, State Bank of India, ITC and others in news today.
Results on February 6: Tata Steel to be in focus ahead of quarterly earnings on February 6. Adani Transmission, AGS Transact Technologies, Balaji Amines, Easy Trip Planners, Infibeam Avenues, JK Paper, Kolte-Patil Developers, LIC Housing Finance, Monte Carlo Fashions, Muthoot Finance, Nuvoco Vistas Corporation, OnMobile Global, Shankara Building Products, SJVN, Tejas Networks, Unichem Laboratories, and Varun Beverages are among others to declare their quarterly earnings on February 6.
State Bank of India: The country's largest lender has recorded a massive 68.5% year-on-year growth in standalone profit at Rs 14,205 crore for December FY23 quarter, with net interest income growing 24% to Rs 38,069 crore for the quarter, beating analysts' estimates. Fall in provisions, higher other income & operating income boosted profitability. Loan growth was 17.6% and deposits grew by 9.5% YoY for the quarter. Asset quality improved on sequential basis, with gross non-performing assets falling 38 bps QoQ to 3.14% and net NPA declining 3 bps to 0.77%. SBI's exposure to Adani group in absolute terms is close to Rs 27,000 crore.
ITC: The cigarette-FMCG-to-hotel major has registered a 21% year-on-year growth in profit at Rs 5,031 crore for quarter ended December FY23 despite tepid revenue growth, supported by healthy operating performance. Revenue for the quarter at Rs 16,226 crore grew by 2.3% aided by cigarettes, FMCG others, hotels and paper segments, but agri business tanked 37% YoY to Rs 3,124 crore. At the operating level, EBITDA jumped 22% to Rs 6,223 crore with margin expanding by 620 bps compared to year-ago period.
InterGlobe Aviation: The low-cost airline operator has recorded a 11-fold year-on-year increase in profit at Rs 1,422.6 crore as revenue for the quarter at Rs 14,933 crore increased by 60.7% and EBITDAR at Rs 3,399 crore grew by 70.3% compared to year-ago period with EBITDAR margin expansion of 130 bps YoY. Margin hit by higher fuel cost. Profit excluding foreign exchange loss (Rs 586.5 crore) came in at Rs 2,009.1 crore for the quarter, rising 16-fold YoY. Passenger numbers increased by 25.8% to 2.23 crore and yield improved by 21.9% to Rs 5.38 and load factor improved by 5.4 points to 85.1%.
Vodafone Idea: The Government of India has directed the telecom operator to convert AGR dues of Rs 16,133 crore into equity shares. The company has been directed by the Ministry of Communications to issue 1,613.31 crore equity shares of the face value of Rs 10 each at an issue price of Rs 10 each. The Government passed the said order for conversion of AGR dues into shares on February 3.
Tata Power Company: The power generation and distribution company has reported a 91% year-on-year growth in consolidated profit at Rs 1,052 crore for three-month period ended December FY23 led by better performance across all businesses. Consolidated revenue grew by 30% YoY to Rs 14,339 crore for the quarter driven by capacity addition in renewables, higher generation in thermal plants and higher sales in distribution companies. EBITDA for the quarter at Rs 2,818 crore surged by 53% YoY on capacity addition in renewables and better performance across all businesses.
Sun TV Network: The mass media company has recorded a 9.8% year-on-year decline in consolidated profit at Rs 425.1 crore for quarter ended December FY23, as revenue fell 16.4% YoY to Rs 887 crore and EBITDA dropped 20.5% to Rs 584.3 crore for the quarter with margin declining 364 bps YoY.
M&M Financial Services: The financial services provider has recorded standalone profit at Rs 629 crore for three-month period ended December FY23, down 30% YoY due to high base in year-ago period. The Q3FY22 had seen significant reversal of impairment provisions as a result of improvement in asset quality which had deteriorated during Q1 FY22 due to second wave of Covid-19. Net interest income grew by 7% YoY to Rs 1,650 crore with loan book increasing by 21% to Rs 77,344 crore.
Marico: The FMCG company has registered a 5.04% year-on-year growth in consolidated profit at Rs 333 crore for October-December period of FY23 led by higher operating margin performance and other income. Revenue for the quarter at Rs 2,470 crore grew by 2.6 percent compared to year-ago period with India business rising 1.9% YoY to Rs 1,851 crore and international segment growing 5% to Rs 619 crore. At the operating level, EBITDA increased by 5.8% YoY to Rs 456 crore and margin expanded by 56 bps YoY to 18.46% on lower input cost.
Emami: The company has reported a 7.8% year-on-year growth in consolidated profit at Rs 237.13 crore for quarter ended December FY23 despite contraction in operating performance. Revenue for the quarter at Rs 983 crore increased by 1.2% with domestic business growing 1% and international business rising 7% compared to year-ago period. EBIDTA at Rs 294 crore contracted by 14% due to inflationary input costs, inclusion of new subsidiary costs, and strategic outlays on distribution expansion in rural, digital and modern trade channels.
JK Tyre & Industries: The tyre manufacturer has reported a 15.2% year-on-year growth in consolidated profit at Rs 65.6 crore for quarter ended December FY23, with EBITDA growing 24% YoY to Rs 339 crore with margin expansion of 50 bps. Revenue from operations at Rs 3,613 crore for the quarter grew by 17.5% compared to year-ago period.
Aarti Industries: The speciality chemicals maker has recorded a 81.3% year-on-year decline in profit at Rs 135.2 crore for three-month period ended December FY23 as revenue fell by 20.5% to Rs 1,635 crore and EBITDA dropped 68% to Rs 286 crore with 2,580 bps contraction in margin compared to year-ago period.
Orient Paper & Industries: The CK Birla Group company has reported profit at Rs 39.5 crore for October-December period of FY23 against loss of Rs 3.5 crore, driven by healthy operating performance and topline. Revenue for the quarter grew by 54.2% YoY to Rs 253.1 crore. At the operating level, EBITDA surged to Rs 68.8 crore for the quarter against Rs 1.2 crore in year-ago period with margin expansion of 2,650 bps to 27.2% in Q3FY23 YoY.
One 97 Communications: The digital payments platform Paytm operator has consolidated loss at Rs 392 crore for quarter ended December FY23, falling from loss of Rs 778.5 crore in year-ago period and loss of Rs 571.5 crore in previous quarter. Consolidated revenue from operations at Rs 2,062 crore for the quarter grew by 42% YoY and up 7.7% sequentially. Merchants paying subscription for payment devices were 5.8 million in the quarter, an increase of 3.8 million YoY, while in Q3FY2023, the number of loans disbursed through the platform grew to 10.5 million, a growth of 137% YoY, and the value of loans disbursed grew to Rs 9,958 crore, a growth of 357% YoY.
Engineers India: The state-owned entity has reported a 60.4% year-on-year decline in consolidated profit at Rs 16.1 crore for three-month period ended December FY23, dented by weak operating performance. There was an increase in technical assistance, and construction materials & equipments expenses. Revenue from operations at Rs 842.2 crore for the quarter grew by 22% over a year-ago period. EIL has received EPCM services contract for setting up gas based greenfield 4000 TPD urea and 2300 TPD ammonia complex. Also there was another contract for minor engineering works for offshore facilities, and a feasibility study for crude storage tanks at terminal facilities from ADNOC Offshore in Abu Dhabi.
Intellect Design Arena: The company has recorded a consolidated profit at Rs 62 crore for quarter ended December FY23, down 38.5% compared to corresponding period last fiscal, impacted by weak operating performance. Revenue for the quarter at Rs 547 crore increased by 7.6% over a year-ago period. At the operating level, EBITDA fell 27.3% YoY to Rs 97 crore and margin dropped 850 bps YoY to 17.68% for the quarter on increase in employee expenses.
Thyrocare Technologies: The diagnostic chain operator has recorded a 31.6% year-on-year decline in profit at Rs 14.7 crore for October-December period of FY23, dented by fall in operating income and margin. Revenue for the quarter grew by 9.1% YoY to Rs 128 crore.
Shipping Corporation of India: The state-owned corporation has reported profit at Rs 279.54 crore for quarter ended December FY23, falling 10.3% compared to year-ago period as EBITDA increased by half a percent to Rs 467.4 crore and margin fell 135 bps YoY to 31.15%. Revenue for the quarter grew by 4.8% to Rs 1,500 crore compared to corresponding period of last fiscal.
Dalmia Bharat Sugar and Industries: The company has recorded a 8% year-on-year increase in profit at Rs 65.2 crore for three-month period ended December FY23 despite lower topline, aided by operating performance. Revenue for the quarter at Rs 600 crore declined by 2.2% YoY. On the operating front, EBITDA increased by 20% to Rs 112.5 crore and margin rose by 347 bps YoY to 18.75% for the quarter.
Praj Industries: The engineering company has recorded a massive 68.2% year-on-year increase in profit at Rs 62.31 crore for quarter ended December FY23 driven by healthy topline and operating performance. Revenue for the quarter grew by 55.4% YoY to Rs 910 crore. At the operating level, EBITDA at Rs 86.16 crore increased by 69% and margin at 9.46% expanded by 75 bps over a year-ago period. It has order intake of Rs 944 crore during the quarter, taking the consolidated order backlog to Rs 3,380 crore as on December 2022.
Aarti Pharmalabs: JP Morgan Funds has sold 7.14 lakh equity shares in the company via open market transactions, at an avearage price of Rs 255.33 per share. The stake sale was worth Rs 18.23 crore.
GMR Airports Infrastructure: Veda Investors Fund LP has bought 5.75 crore equity shares in the company via open market transactions at an average price of Rs 37.2 per share. The stake buy was worth Rs 214.23 crore. However, H/D Investors Fund LP sold 3.35 crore shares and C/D Investors Fund LP offloaded 5.5 crore shares at an average price of Rs 37.2 per share. Their stake sale was worth Rs 329.80 crore.
Manappuram Finance: The gold loan financing company has registered a massive 50.3% year-on-year growth in profit at Rs 392.2 crore for quarter ended December FY23 as impairment on financial instruments dropped by Rs 54 crore for the quarter. Revenue from operations for the quarter at Rs 1,714 crore increased by 15.5% over a year-ago period.
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