Stock to Watch Today - Rupeedesk Reports - 22.05.2023
Stock to Watch Today - Rupeedesk ReportStock to Watch Today - Rupeedesk Reports
Buzzing Stocks: Zomato, NTPC, Bandhan Bank, Divi's Lab and others in focus.
Results on May 22: Shree Cement, Bharat Petroleum Corporation, PB Fintech, Aditya Birla Fashion and Retail, CESC, Capri Global Capital, EIH, Finolex Industries, Fusion Micro Finance, Gujarat Alkalies & Chemicals, HCL Infosystems, HEG, Indiabulls Housing Finance, Radiant Cash Management Services, SJVN, Sun Pharma Advanced Research Company, and Waaree Technologies will be in focus ahead of quarterly earnings on May 22.
NTPC: The country's largest power generation company, has recorded 1 percent year-on-year increase in standalone profit at Rs 5,672.3 crore for the quarter ended March FY23, despite weak operating margin, supported by higher topline and other income. Overall, earnings, barring bottomline, missed estimates. Standalone revenue from operations grew by 20.3% to Rs 41,318 crore compared to same period last year.
Zomato: The food delivery giant's consolidated loss for the March FY23 quarter narrowed to Rs 187.6 crore, from loss of Rs 359.7 crore in the same period last year as topline increases sharply and operating loss narrowed. Consolidated revenue from operations grew by 70% YoY to Rs 2,056 crore in Q4FY23. Zomato appointed Rakesh Ranjan as CEO of food ordering and delivery business, Rinshul Chandra as COO of food ordering & delivery business, and Rishi Arora as CEO of Zomato Hyperpure.
Bandhan Bank: The private sector lender has registered a massive 57.5% year-on-year decline in profit at Rs 808 crore for March FY23 quarter, impacted by significantly higher provisions & contingencies. Lower non-interest income, net interest income and pre-provision operating profit also impacted profitability. Net interest income fell 2.7% to Rs 2,472 crore compared to similar quarter last year, with 140 bps decline in net interest margin. However, asset quality improved with gross non-performing assets falling 228 bps sequentially to 4.87% and net NPA down 69 bps to 1.17% for Q4FY23.
JSW Steel: The JSW Group's flagship company has reported a 12% year-on-year growth in consolidated profit at Rs 3,741 crore for quarter ended March FY23 due to low base and higher other income, but impacted by dismal operating performance. Revenue from operations for Q4FY23 grew by 0.1% to Rs 46,962 crore compared to same period last year. JSW Steel elevated Jayant Acharya as Managing Director & CEO for five years, and appointed Gajraj Singh Rathore as Additional Director & Whole Time Director designated as Chief Operating Officer.
Power Grid Corporation of India: The state-owned power transmission utility has recorded a 4% year-on-year increase in consolidated profit at Rs 4,320.4 crore for March FY23 quarter driven by healthy topline and operating performance. Revenue from operations at Rs 12,264 crore grew by 14.7% over a year-ago period.
Delhivery: The logistics services provider has posted consolidated loss at Rs 158.6 crore for quarter ended March FY23, widening from loss of Rs 119.8 crore in same period last year. Lower topline and weak operating performance impacted profitability. Consolidated revenue from operations fell by 10.2% to Rs 1,860 crore compared to year-ago period.
JK Lakshmi Cement: The cement company has reported a 40.1% year-on-year decline in consolidated profit at Rs 110 crore for quarter ended March FY23 impacted by weak operating numbers. Consolidated revenue during the quarter grew by 16.4% to Rs 1,862 crore compared to same period last year, with sales volume increasing by 3% YoY to 33.88 lakh tonnes.
Muthoot Finance: The gold loan financing company has registered a 0.3% year-on-year increase in consolidated profit at Rs 1,009.2 crore for March FY23 quarter. Consolidated revenue from operations grew by 8.4% to Rs 3,275 crore compared to corresponding period last fiscal.
Dredging Corporation of India: The company said the board has approved an appointment of Madhaiyaan Angamuthu, as Additional Director and Chairman of DCI to hold charge till next AGM w.e.f. May 19. Currently Madhaiyaan is the Chairperson of Visakhapatnam Port Authority.
Divi's Laboratories: The pharmaceutical firm has recorded a 64.1% year-on-year decline in consolidated profit at Rs 321 crore for January-March quarter of FY23, impacted by lower topline and operating numbers. Revenue for the quarter fell by 22.5% to Rs 1,951 crore compared to year-ago period. Overall, numbers, barring topline, missed analysts' expectations. The board recommended a dividend of Rs 30 per share for FY23.
Bharat Electronics: The state-owned defence company has registered nearly 20% year-on-year growth in consolidated profit at Rs 1,382 crore for quarter ended March FY23, driven by healthy operating numbers. Revenue grew by 2.2% to Rs 6,479.1 crore compared to same period last year.
Glenmark Pharmaceuticals: The pharma firm has posted consolidated loss at Rs 428.3 crore for March FY23 quarter, against profit of Rs 155.5 crore in same period last year, impacted by exceptional loss of Rs 799.7 crore primarily on account of settlement of litigation related to generic Zetia in the US. Revenue increased by 11.7% to Rs 3,373.7 crore compared to same quarter last year.
NLC India: The state-owned coal mining company has reported a massive 153% year-on-year increase in consolidated profit at Rs 830 crore for quarter ended March FY23, impacted by healthy topline and operating income. Revenue from operations for the quarter increased by 66.4% to Rs 5,134 crore compared to similar period last fiscal.
DCX Systems: The electronic sub-systems and cable & wire harness manufacturer has registered a 26.7% year-on-year growth in standalone profit at Rs 41.1 crore for quarter ended March FY23 despite weak operating margin performance, supported by healthy topline. Revenue from operations for the quarter at Rs 510.5 crore grew by 36.5% over a year-ago period. Higher share of system integration projects executed during this quarter had a bearing on the overall blended margins.
Sun TV Network: The television broadcaster has reported a 7.3% year-on-year decline in consolidated profit at Rs 380.2 crore for March FY23 quarter, impacted by weak topline and operating numbers. Revenue for the quarter dropped 2% to Rs 840.4 crore compared to year-ago period.
Cochin Shipyard: The shipbuilding company's consolidated profit tumbled by 86% year-on-year to Rs 39.3 crore for quarter ended March FY23 on weak operating and topline numbers. Revenue from operations fell by 50.5% to Rs 600 crore compared to same period last year.
Elgi Equipments: The air compressor manufacturer has recorded a massive 133% year-on-year growth in consolidated profit at Rs 170.1 crore for March FY23 quarter as Patton’s Inc, USA, a subsidiary of Elgi Compressors USA Inc, has recognised a net gain of Rs 105.38 crore ($ 13.08 million) on completion of sale of land and building held in Charlotte, North Carolina, USA. Revenue from operations for the quarter at Rs 835.7 crore grew by 14.86% over corresponding period last fiscal.
Multi Commodity Exchange of India: The commodity exchange has registered a 85% year-on-year decline in consolidated profit at Rs 5.45 crore for quarter ended March FY23. Revenue from operations for the quarter at Rs 133.75 crore grew by 25.6% over a year-ago period. The board has recommended a final dividend of Rs 19.09 per share.
IRB Infrastructure Developers: The highway construction company's consolidated profit fell by 25.4% year-on-year to Rs 130.1 crore in March FY23 quarter dented by lower other income. However, operating numbers and topline growth remained strong. Revenue from operations grew by 13% to Rs 1,620 crore compared to same period last fiscal.
Minda Corporation: The auto component manufacturer has reported a 60.7% year-on-year growth in consolidated profit at Rs 121.9 crore for March FY23 quarter despite weak operating margin performance, driven by tax write-back. Revenue from operations during Q4FY23 increased by 13.4% to Rs 1,074.6 crore compared to corresponding period last fiscal.
Va Tech Wabag: The water treatment solution provider has posted consolidated loss of Rs 111.1 crore for quarter ended March FY23 against profit of Rs 46.3 crore in same period last year depite strong operating numbers, as the receivables and other current assets pertaining to certain projects to the tune of Rs 289.23 crore have been written off and reported under exceptional items. Revenue during the quarter grew by 4% to Rs 927 crore compared to same period last year.
Crompton Greaves Consumer Electricals: The consumer electrical company has reported a 25.7% year-on-year decline in consolidated profit at Rs 131.2 crore for March FY23 quarter impacted by lower operating numbers. Revenue from operations grew by 15.7% to Rs 1,791 crore compared to same period last fiscal.
Godawari Power & Ispat: The steel company's consolidated profit plunged 58.3% year-on-year to Rs 169.6 crore in March FY23 quarter, impacted by lower revenue and operating numbers. Revenue from operations fell by 8.4% to Rs 1,316.6 crore compared to same period last year.
Balaji Amines: The chemicals company has recorded a 56.4% year-on-year growth in consolidated profit at Rs 47.4 crore for quarter ended March FY23, as topline and operating numbers were lower compared to same period last year. Revenue from operations during the quarter fell by 40% YoY to Rs 471.4 crore. Hemanth Reddy Gaddam has resigned as Whole-time Director & CFO of the company with effect from May 20 to focus on subsidiary company, Balaji Speciality Chemicals.
Hindustan Copper: The state-owned copper producer has reported a 48.7% year-on-year growth in consolidated profit at Rs 132.3 crore for March FY23 quarter, driven by healthy operating numbers and lower employee expenses. Revenue grew by 2.6% to Rs 559.8 crore compared to same period last year.
VRL Logistics: The transportation and logistics company's March FY23 quarter profit (from continuing operations) grew by 16.6% year-on-year to Rs 61 crore led by tax write-back, but impacted by weak operating numbers. Revenue from operations increased by 17.55% to Rs 698.2 crore compared to corresponding period last fiscal.
Welspun Enterprises: The construction engineering company has recorded a 213% year-on-year increase in consolidated profit at Rs 155.6 crore for March FY23 quarter despite lower operating margin, driven by higher other income, and exceptional gains related to sale of highway portfolio to Actis Highway Infra. Revenue from operations for the quarter at Rs 845 crore increased by 77.5% over a year-ago period.
Abbott India: The pharmaceutical company has reported a 9.5% on-year growth in profit at Rs 231.4 crore for quarter ended March FY23 despite lower operating numbers, led by higher topline, other income, and lower tax cost. Revenue for the quarter at Rs 1,343 crore increased by 7% over corresponding period last fiscal.
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