Stock to Watch Today - Rupeedesk Reports - 08.05.2023
Stock to Watch Today - Rupeedesk ReportStock to Watch Today - Rupeedesk Reports
Buzzing Stocks: Britannia, Marico, Lupin, Coal India, bank stocks and others in focus.
Results on May 8: UPL, Canara Bank, Indian Bank, Aarti Industries, Apollo Pipes, Birlasoft, CG Power and Industrial Solutions, Craftsman Automation, Exide Industries, Happiest Minds Technologies, HFCL, Kalpataru Power Transmission, Kansai Nerolac Paints, Mahanagar Gas, Pidilite Industries, and VIP Industries will be in focus ahead of quarterly earnings on May 8
Britannia Industries: The bakery and dairy products maker has recorded 47.5% year-on-year growth in consolidated profit at Rs 557.6 crore for quarter ended March FY23, driven by healthy operating performance and topline. Consolidated revenue from operations at Rs 4,023.2 crore grew by 13.3% on significant distribution gains. On operating front, EBITDA in Q4FY23 grew by 19.9% to Rs 800.9 crore with margin expansion of 440 bps to 19.9% compared to year-ago period. The board has declared interim dividend of Rs 72 per share for FY23.
Marico: The consumer goods company has recorded a 18.7% year-on-year growth in consolidated profit at Rs 305 crore for March FY23 quarter as operating performance remained strong on lower input cost. Consolidated revenue increased by 3.7% YoY to Rs 2,240 crore with India business growing 1.8% and international business reporting 10% growth. International business grew 16% in constant currency, while EBITDA increased by 14% with margin expansion of 150 bps for the quarter YoY. Domestic volume growth stood at 5% for the quarter.
Lupin: The pharma major has entered into a definitive agreement to acquire the entire share capital of the French pharmaceutical company, Medisol, subject to approval from the French Ministry of Economy and Finance. With this acquisition, Lupin will gain access to Medisol’s portfolio of seven injectable products across four therapeutic areas, including pain management, anti-inflammatory, cardiovascular diseases, and obstetrics. The acquisition cost is 18 million euro.
DCB Bank: The private sector lender has reported a 25% on-year growth in profit at Rs 142 crore for quarter ended March FY23, following decline in provisions. Net interest income grew by 28% YoY to Rs 486 crore with over 18% growth each in deposits and advances. Asset quality also improved further with gross NPAs falling 43 bps QoQ to 3.19% and net NPA down 33 bps QoQ to 1.04% in Q4FY23. Satish Gundewar has resigned as Chief Financial Officer of the Bank to pursue career outside the bank
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