Stock to Watch Today - Rupeedesk Reports - 05.05.2023
Stock to Watch Today - Rupeedesk ReportStock to Watch Today - Rupeedesk Reports
Buzzing Stocks: Britannia, Paytm, Adani Enterprises, Marico, TVS, others in focus.
Results on May 5: Britannia Industries, One 97 Communications, Adani Power, Ajanta Pharma, Alembic Pharmaceuticals, Bharat Forge, DCB Bank, Equitas Small Finance Bank, Federal Bank, Gujarat Fluorochemicals, Marico, Olectra Greentech, Piramal Enterprises, Sundaram-Clayton, Symphony, Tata Investment Corporation, and Windlas Biotech will be in focus ahead of their quarterly earnings on May 5.
Results on May 6: Union Bank of India, Bank of India, 3i Infotech, ADF Foods, Aether Industries, Computer Age Management Services, Gujarat Ambuja Exports, Greenpanel Industries, Grindwell Norton, TVS Electronics, and Zen Technologies are going to be in focus ahead of their quarterly earnings on May 6.
Adani Enterprises: The Adani Group is developing an integrated data centre and technology business park in Andhra Pradesh, to boost local technology ecosystem in the region. The park will host 300 MW of data centre capacity, powered with up to 100% renewable energy.
SBI Life Insurance Company: The board has given its approval for the extension of term of Mahesh Kumar Sharma as the managing director and chief executive officer of the company up to September 30, 2023, subject to Insurance Regulatory and Development Authority of India (IRDAI) and shareholder's approval.
Rattanindia Enterprises: The company said the Board of Directors on May 9 will consider the raising of fund through issue of securities by way of a qualified institutions placement (QIP) or any other permissible mode of funding
Rattanindia Power: The company has posted a consolidated loss of Rs 483.2 crore for quarter ended March FY23, widening from Rs 310.4 crore in same period last year, with finance cost rising 9% and other income falling 58% YoY. Revenue from operations for the quarter at Rs 900.6 crore increased by 9.4% over a year-ago period.
Bombay Dyeing and Manufacturing Company: The company has reported consolidated loss of Rs 246.09 crore for March FY23 quarter, increasing from loss of Rs 41.7 crore in corresponding period last fiscal, impacted by weak operating performance and higher finance cost. Revenue grew by 12% YoY to Rs 670.2 crore with real estate business rising 106% and polyester segment showing 18.4% decline YoY in Q4FY23.
Blue Star: The air-conditioner manufacturer has recorded a three-fold year-on-year increase in profit at Rs 225.3 crore for quarter ended March FY23, largely boosted by gain of Rs 170.81 crore on sale of land parcel at Thane and operating performance. Revenue from operations at Rs 2,624 crore for the quarter increased by 16.4% over a year-ago period. The company announced a final dividend of Rs 12 per share and bonus issue in proportion of 1:1.
AGI Greenpac: The packaging products company has clocked a massive 152% year-on-year growth in profit at Rs 95.8 crore for January-March FY23 quarter, backed by healthy topline and operating performance. Revenue from operations grew by 58% YoY to Rs 680 crore in Q4FY23. The sales and profitability boosted by improved product mix, and increase in demand for the non-alcoholic & alcoholic beverages and packed food segment for the glass containers products. The company announced a dividend of Rs 5 per share for FY23.
Future Lifestyle Fashions: The National Company Law Tribunal (NCLT) has allowed the admission of petition of Bank of India, filed under the Insolvency and Bankruptcy Code 2016, against the Future Lifestyle Fashions, on alleged amount of default of Rs 495.91 crore. The NCLT also approved the appointment of Ravi Sethia as an Interim Resolution Professional.
Coal India: Coal India will release its quarterly and full-year earnings on May 7.
Hero MotoCorp: The world's largest motorcycle and scooter maker by volume has clocked a 37% year-on-year growth in profit at Rs 859 crore for quarter ended March FY23, driven by healthy growth in operating performance and topline. Revenue from operations in Q4FY23 grew by 12% to Rs 8,307 crore compared to year-ago period, with volume increasing 7% in same period. On the operating front, EBITDA surged 31% to Rs 1,083 crore with margin expansion of 190 bps YoY at 13% in Q4, driven by lower commodity costs, higher savings, and judicious price increases. The company declared a dividend of Rs 35 per share taking the total dividend for the year to Rs 100 per share.
Tata Power Company: The power generation and distribution company has recorded a massive 48.5% on-year growth in consolidated profit at Rs 939 crore for March FY23 quarter on a low base and higher other income. Revenue from operations grew by 4.1% year-on-year to Rs 12,454 crore in Q4FY23, supported by transmission and distribution business. On the operating front, EBITDA rose by 3.3% to Rs 1,928 crore with margin declining 10 bps to 15.5% for the quarter.
TVS Motor Company: The two-wheeler and three-wheeler manufacturer has reported profit at Rs 410 crore for quarter ended March FY23, a 50% growth over a year-ago period, with beating analysts' estimates on all counts. Revenue from operations for the quarter at Rs 6,605 crore increased by 19.4% over corresponding period last fiscal, with sales volume rising just 1.4% to 8.68 lakh units in the same period. At the operating level, EBITDA grew by 22% YoY to Rs 680 crore with margin expansion of 20 bps to 10.3% in Q4FY23.
United Breweries: The alcoholic and non-alcoholic beverages maker has recorded a 94% year-on-year decline in profit at Rs 9.7 crore for quarter ended March FY23, as operating performance dented due to continued inflationary pressures on cost base, particularly on prices of barley and packaging materials. Revenue for the quarter grew by 3.4% to Rs 1,764.5 crore compared to year-ago period, with volume growth of 3%, primarily driven by Telangana, West Bengal, Uttar Pradesh & Rajasthan. On the operating level, EBITDA plunged 79% YoY to Rs 53.5 crore with margin falling 1,230 bps to 3% in Q4FY23.
Ceat: The RPG Group company has reported consolidated profit at Rs 133.7 crore for March FY23 quarter, rising more than five-fold compared to Rs 25.3 crore in same period last year due to healthy operating performance with fall in input cost. Revenue from operations at Rs 2,875 crore grew by 11% over a year-ago period. On the operating front, EBITDA surged 96.2% YoY to Rs 367.81 crore with margin expansion of 560 bps at 12.8% for the quarter. The company announced a final dividend of Rs 12 per share.
Zydus Life Sciences: The pharma company has received final approval from United States Food and Drug Administration (USFDA) to manufacture and market Sucralfate tablets USP, 1 gram. Sucralfate is used to treat and prevent ulcers in the intestines by forming a coating over ulcers, protecting the area from further injury. Sucralfate tablets had annual sales of $84 million in US as per IQVIA MAT February 2023.
Sterlite Technologies: The board meeting will be held on May 17 to consider raising of funds by issue of equity shares or any other securities convertible into equity shares or a combination of such securities. The board will also consider approval of audited financial results for the year ended March 2023, and recommendation of dividend.
Indraprastha Gas: Diversified renewable energy company ACME Cleantech Solutions and city gas distribution company IGL signed a memorandum of understanding (MoU) to jointly explore the potential business opportunities of green hydrogen. Companies will also explore the opportunity of setting up hydrogen generation plants including setting up electrolysers to blend Green Hydrogen in IGL's existing pipeline networks suppling gas to households, industrial & commercial set ups and CNG for vehicles.
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