Category: Earnings

Colgate Q4 results beat estimates, reports 32% rise in profit

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Colgate-Palmolive, a leading consumer conglomerate, reported a rise of 32% in its profit year-on-year, mostly driven by strong sales in oral care segment.

The company posted a net profit of Rs 188.7 crore in the fourth quarter, beating CNBC-TV18’s estimates of Rs 176 crore.

The net sales of Colgate-Palmolive was at Rs 1,085.1 crore for the fourth quarter, an increase of 5.1%, year-on-year.

Colgate-Palmolive also reported a volume growth at 4% in the quarter.

The volume market shares for the toothpaste category was at 53.4%, a decrease of 0.5% from the previous quarter.

In an investor’s call, the company expects the mid-term toothpaste volume growth to be around 6%.

The company has also announced an interim dividend pay of Rs 11 per share in the financial year 2017-18.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Will not sacrifice profitability at the cost of market share, says Ashok Leyland

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Ashok Leyland reported a stable set of earnings on Friday where higher other income boosted the profit, but numbers were overall slightly below estimates.

“I will not go out and buy market share. Market share is important but profitability is also important,” said Vinod Dasari, MD, Ashok Leyland.

The performance last year was pleasing despite all the challenges that we had like Supreme Court ban of BS-III vehicles, goods and services tax (GST) and a significant shift towards higher tonnage vehicles,” he said.

“We maintained our market share despite many challenges, we grew on the export markets substantially, we turned around our light commercial vehicle (LCV) business and had substantial progress in that, we turned around our foundry business and made it profitable,” Dasari said.

Talking about growth, he said, “Infrastructure boom is giving rise to strong tipper demand.”

Demand will be higher if overloading ban continues in Uttar Pradesh, added Dasari.

“The demand is strong and we strongly believe that we should not create a pricing policy, which is focused on buying market share. We will work hard and sell our products based on performance of our products and not on the basis of price,” said Dasari.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Capital infusion will help AU Small Finance Bank maintain CAR above 18%

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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In one of the largest capital infusion after 2012, AU Small Finance Bank has raised Rs 1,000 crore from Temasek Holdings.

The bank was witnessing huge growth of about 60% in disbursement and 50% in AUM, the bank decided to raise capital to cater to future growth, said Deepak Jain, CFO, AU Small Finance Bank.

He said the bank has got a termsheet from Temasek for equity infusion and convertible warrants. The money will come in tranches.

The first tranche of  47.5% would come in June 2018, which is Rs 475 crore and the rest within 18 months. The price is valued as per Sebi floor price – that is two weeks average price and it is coming to Rs 692 per share, he added.

“Through this Temasek would get 4.1 percent holding in the bank,” said Jain.

Post the capital infusion, the bank will be able to maintain the capital adequacy ratio above 18% with Tier–I at 16% and Tier II at 2%. As of March, 2018, the CAR was at 19%, consisting of Tier I at 18% andTier II at 1%.

He also confirmed that there would not be any further need for raising capital at least for 24 months, since this infusion would be coming in two tranches.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Ashok Leyland fourth-quarter profit jumps 40%, beats estimates

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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India’s Ashok Leyland Ltd posted a 40% jump in fourth-quarter net profit on Friday, helped by stronger sales volume.

Net profit was 6.67 billion rupees ($98.03 million) for the quarter ended March 31, compared with 4.76 billion rupees a year earlier.

Analysts on average expected a quarterly profit of 6.42 billion rupees, according to Thomson Reuters data.

The total volume of medium and heavy commercial vehicles sold, including exports, rose 15%, while light commercial vehicles posted a 59% volume growth.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

KEI Industries says order book robust; expect 18-20% volume growth

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The order book flow of the company is robust and currently it stands at Rs 2,700 crore,” said Anil Gupta, Chairman & Managing Director, KEI Industries.

Gupta expect a 18-20% volume growth and said the volumes grew by 18% in the cable business in FY18.

Talking about phase one of the new facility for low tension cables at Pathredi, he said they will commence production by end of May, 2018 and phase two for higher tension cables to commence operation by February-March 2019.

The phase one will add Rs 300 crore worth of annual capacity and phase two by March 2019 will add Rs 600 crore worth of annual capacity.

For FY19, the company expect 50 bps improvement in margins to about 10%, said Gupta.

He said the company has been able to pass on the commodity price increases for newly book orders.

Currently, KEI Industries’ capacity utilisation is around 90% and 15%of sales come from exports, said Gupta, adding that exports would grow 20% in FY19.

KEI Industries manufactures high and low tension cables (EHV, HT & LT), control and instrumentation cables, house wires, power cables, stainless steel wires, and electrical cables.

Its unique product range of wires and cables is known pan India and across the globe.

KEI Industries Q4FY standalone net profit rises 40.5% year-on-year (YoY) to Rs 49.60 crore.

The YoY revenue growth was up 24% at Rs 3,503 crore against Rs 2,832 crore and profit after tax was up 54% at Rs 145 crore against Rs 94 crore.

The YoY margins were up at 9.6% compared to 9.4% and EBITDA came in at Rs 338 crore against Rs 268 crore.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow