Stock to Watch Today - Rupeedesk Reports - 15.05.2023
Stock to Watch Today - Rupeedesk ReportStock to Watch Today - Rupeedesk Reports
Buzzing Stocks: Tata Motors, D-Mart, Hero MotoCorp, DLF and others in news today.
Results on May 15: PVR Inox, Asahi India Glass, Astral, Century Plyboards, Coromandel International, Emkay Global Financial Services, Kalyan Jewellers India, Patel Engineering, PCBL, Pfizer, Procter & Gamble Health, Skipper, Suryoday Small Finance Bank, Tube Investments of India, Ugro Capital, and Vascon Engineers will be in focus ahead of their quarterly earnings scheduled to be declared today.
Tata Motors: The leading automobile manufacturer has recorded consolidated profit at Rs 5,407.8 crore for quarter ended March FY23 against loss of Rs 1,033 crore in same period last year, supported by healthy operating numbers across segments. Consolidated revenue from operations for the quarter at Rs 1.06 lakh crore grew by 35% over a year-ago period, with Jaguar Land Rover reporting a massive 49% YoY growth, Tata Commercial Vehicles business growing 14.6% and Tata Passenger Vehicles segment showing a 15.3% YoY growth.
Avenue Supermarts: The food and grocery retailer has recorded a 7.8% year-on-year growth in consolidated profit at Rs 460.1 crore for the quarter ended March FY23, backed by strong topline performance but impacted by a weak margin performance, with the profit margin falling 40 bps. Consolidated revenue from operations grew by 20.6% to Rs 10,594 crore compared to same period last year. On the operating front, EBITDA grew by 4.5% YoY to Rs 772 crore but margin declining 110 bps in Q4FY23.
Hero MotoCorp: The world's largest two-wheeler maker has announced a partnership with Motosport SA in Costa Rica to boost its presence in Central America. As an exclusive distributor for the sale and service of Hero MotoCorp motorcycles and scooters in the country, Motosport SA will play a key role in the rapid expansion of Hero’s network in Costa Rica.
DLF: The real estate major has reported a massive 40.6% year-on-year growth in consolidated profit at Rs 570 crore for quarter ended March FY23 driven by strong operating margin performance as there was fall in raw material cost and other expenses. However, revenue for the quarter dropped 6% to Rs 1,456 crore compared to same period last year.
Colgate Palmolive India: The oral care products maker has recorded a 2.3% year-on-year growth in profit at Rs 316.2 crore for March FY23 quarter impacted by higher tax cost and exceptional loss. However, revenue from operations for the quarter grew by 3.8% to Rs 1,350.63 crore compared to year-ago period. Overall numbers were above analysts' estimates. The board has declared second interim dividend of Rs 21 per share for FY23.
Dish TV India: The satellite television provider has posted consolidated loss of Rs 1,720.6 crore for March FY23 quarter, narrowing from Rs 1,997.6 crore in same period last year. Dismal operating performance and lower topline impacted profitability. Revenue for the quarter dropped 21.5% to Rs 504.8 crore compared to same period last year.
Hindustan Petroleum Corporation: The oil marketing company has reported a nine-year high quarterly standalone profit at Rs 3,223 crore for quarter ended March FY23, growing 80 percent over a year-ago period, driven by healthy operating performance. Revenue for the quarter (including excise duty) stood at Rs 1.14 lakh crore, registering growth of 8.7% over the corresponding period of previous year. Average gross refining margin (gross of export duty) in Q4FY23 came in at $14.01 per barrel, up from $12.44 per barrel in same period last year.
Adani Transmission: The electric power distribution company said the board has approved raising of funds up to Rs 8,500 crore through qualified institutional placement (QIP). The board will also seek approval of the shareholders for the said issuance.
Rail Vikas Nigam: Rail Vikas Nigam and SCC Infrastructure joint venture has received Letter of Award for 'planning, design and construction of main canal and structures to provide irrigation facility through piped irrigation network for upper high-level canal of Mahi Bajaj Sagar project, banswara (Raj) on engineering, procurement and construction single responsibility turnkey basis, including 10 years operation & maintenance. The cost of project is Rs 2,248,94 crore. Rail Vikas Nigam's share in project is 51% and SCC share is 49%.
Birla Corporation: Subsidiary RCCPL has acquired the mining rights comprising 889.760 hectares at Katni, Madhya Pradesh, pursuant to a tripartite agreement executed with the Government of Madhya Pradesh and Sanghi Infrastructure MP Limited. RCCPL has acquired 100% equity shares of Sanghi Infrastructure MP Limited . Accordingly, Sanghi has become a wholly owned subsidiary of RCCPL and a step down wholly owned subsidiary of Birla Corporation.
Canara Bank: The Reserve Bank of India has imposed a monetary penalty of Rs 2.92 crore on Canara Bank for violation of several norms.
Krsnaa Diagnostics: The diagnostics services provider has accepted Letter of Award in consortium with Telecommunications Consultants for lab services project by NHM in Rajasthan. In March this year, company emerged as L1 for tender issued by National Health Mission for providing laboratory services under free diagnostics initiative on HUB and SPOKE Model under NHM" in Rajasthan.
Indian Overseas Bank: The public sector lender has reported a 17.7% year-on-year growth in standalone profit Rs 650 crore in Q4FY23, backed by higher net interest income and lower provisions. Higher pre-provision operating profit also boosted profitability. Net interest income grew by 41.4% YoY to Rs 2,276.11 crore for March FY23 quarter. Asset quality improved with the gross NPA falling 75 bps QoQ to 7.44% and net NPA declining 60 bps to 1.83% in Q4FY23. The board approved fund raising of Rs 1,000 crore via equity issuance and another Rs 1,000 crore via issuance of bonds.
Indraprastha Gas: The natural gas distribution company has recorded a 7.8% year-on-year decline in consolidated profit at Rs 397.5 crore for quarter ended March FY23, impacted by weak operating margin performance. Revenue from operations (including excise duty) increased sharply by 53.3% to Rs 4,061.63 crore compared to same period last year, with total volumes increasing by 16% YoY to 8.09 mmscmd.
Manappuram Finance: The gold loan financing company has reported a 59.1% year-on-year growth in consolidated profit at Rs 415.3 crore, supported by lower impairment on financial instruments. Net interest income grew by 20% to Rs 1,182.6 crore compared to year-ago period. Overall, earnings came in above estimates.
Kirloskar Ferrous Industries: The castings and pig iron manufacturer has registered a 14-fold year-on-year increase in consolidated profit at Rs 88.22 crore for quarter ended March FY23, supported by healthy topline, and operating numbers. Revenue from operations in Q4FY23 grew by 51.4% to Rs 1,565.6 crore compared to same period last year.
Sharda Cropchem: The agrochemical products maker has recorded a 12.3% year-on-year growth in consolidated profit at Rs 198.8 crore in March FY23 quarter driven by weak operating margin performance. Revenue from operations for the quarter at Rs 1,481.8 crore grew by 3.3% over corresponding period last fiscal.
Great Eastern Shipping Company: The private sector shipping company has registered a 282% year-on-year growth in consolidated profit at Rs 722 crore in Q4FY23, driven by healthy topline and operating numbers. Revenue for the quarter at Rs 1,456 crore increased by 59% over year-ago period.
Adani Enterprises: The flagship company of Adani Group will be in focus as the board of directors has approved raising of funds up to Rs 12,500 crore via qualified institutional placement (QIP). The board will also seek approval of the shareholders for the said issuance.
Sonata Software: The IT services and technology solutions company has registered a 3% sequential decline in profit at Rs 113.8 crore for March FY23 quarter as the bottomline included one-time acquisition cost of Rs 13 crore. Hence the normalised profit was Rs 126.8 crore for Q4FY3. Revenue from operations for the quarter at Rs 1,913.5 crore fell by 15% compared to previous quarter, with domestic business declining 22% QoQ to Rs 1,383.4 crore but international IT services business grew by 9% to Rs 533.5 crore. The company announced final dividend of Rs 8.75 per share for FY23.
Laxmi Organic Industries: The specialty chemicals company has reported a 65.3% year-on-year decline in consolidated profit at Rs 24.3 crore for quarter ended March FY23 despite sharp drop in input cost, impacted by lower topline and weak operating performance. Revenue from operations for the quarter dropped by 16.7% to Rs 733.2 crore compared to same period last year.
Ethos: The luxury watch boutiques chain has reported a massive 70.5% year-on-year growth in profit at Rs 13.3 crore for quarter ended March FY23, on robust demand and focused marketing initiatives. Revenue from operations grew by 30.8% to Rs 207.6 crore compared to year-ago period with growth across offline and online channels.
VST Tillers Tractors: The farm equipment manufacturer has clocked a massive 81.7% year-on-year growth in profit at Rs 40.15 crore for January-March FY23 quarter, as operating and topline numbers were strong. Revenue from operations grew by 47.7% to Rs 322.6 crore compared to same period last year. The company announced a final Dividend of Rs 25 per equity share, and appointed Nitin Agrawal as Chief Financial Officer.
Cholamandalam Financial Holdings: The Murugappa Group company has reported consolidated profit at Rs 407.9 crore for quarter ended March FY23, growing 34% over a year-ago period. Consolidated revenue from operations for Q4FY23 grew by 38.6% to Rs 5,186.1 crore compared to same period last fiscal.
Navin Fluorine International: The fluorochemicals manufacturer has registered a massive 81.4% year-on-year growth in consolidated profit at Rs 136.4 crore for quarter ended March FY23 on strong operating performance and higher topline. Revenue for January-March period surged 70.5% to Rs 697.1 crore compared to same period last fiscal.
APL Apollo Tubes: The country's largest structural steel tubing company has recorded a 14.3% year-on-year growth in consolidated profit at Rs 201.8 crore for March FY23 quarter driven by healthy operating performance. Revenue for the quarter at Rs 4,431 crore increased by 5.1% over a year-ago period.
Butterfly Gandhimathi Appliances: The kitchen appliances maker has reported consolidated profit at Rs 1.56 crore for quarter ended March FY23, against loss of Rs 19.4 crore in corresponding period of last fiscal. Revenue from operations for the quarter dropped by 1.6% to Rs 186.8 crore compared to same quarter of previous fiscal.
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