Category: Stocks

Anupam Rasayan posts over 44% fall in Q4 net profit

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

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Chemicals maker Anupam Rasayan India Ltd on Saturday posted a 44.26% fall in its consolidated net profit to ₹40.46 crore for the fourth quarter of 2023-24 on poor sales. Its net profit stood at ₹72.63 crore a year earlier.

The total income fell to ₹413 crore in the January-March quarter of 2023-24 compared to ₹504.2 crore in the year-ago period, a regulatory filing said.

For the full fiscal 2023-24, Anupam Rasayan posted a 23% drop in consolidated net profit to ₹167.4 crore against ₹216.8 crore in the previous fiscal.

The total income declined to ₹1,505.3 crore from ₹1,610.4 crore in the said period. Anupam Rasayan Managing Director Anand Desai said the chemical industry, including speciality chemicals, has faced significant headwinds during the last year.

Also Read: Ujjivan SFB Q4 Results | Net profit up 7% to ₹330 crore, declares dividend of ₹1.5

However, despite the de-growth in the top line, the company has been able to sustain its profitability and maintain margins at 27% levels on a full-year consolidated basis.

“We believe that headwinds in the industry may continue for the next two quarters. However, the financial year 2025 will be a year of growth for us with our major focus on polymer and pharmaceutical space,” he added.

Shares of Anupam Rasayan India Ltd ended at ₹781.25, down by ₹3.15, or 0.40% on the BSE.

Also Read: Astral Q4 Results | Pipe maker declares dividend of ₹2.25, profit slides 12%

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

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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

Patel Engineering Q4 Results | Profit zooms 83% to ₹141 crore, revenue up 12%

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

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Infrastructure company Patel Engineering Ltd on Saturday (May 18) reported an 83% year-on-year (YoY) jump in net profit at ₹141 crore for the fourth quarter that ended March 31, 2024.

In the corresponding quarter, Patel Engineering posted a net profit of ₹77 crore, the company said in a regulatory filing. The company’s revenue from operations increased 11.5% to ₹1,343 crore as against ₹1,205 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA jumped 41% to ₹238 crore in the fourth quarter of this fiscal over ₹168.7 crore in the corresponding period in the previous fiscal.

Also Read: Astral Q4 Results | Pipe maker declares dividend of ₹2.25, profit slides 12%

EBITDA margin stood at 17.7% in the reporting quarter as compared to 14% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation. The company’s total order book as of March 31, 2024, stands at ₹18,663 crore

Rupen Patel, Chairman and Managing Director of Patel Engineering, said, “The company has outperformed expectations with a stellar display of excellence compared to its prior performance. Witnessing substantial revenue growth across all business segments, our recent projects are poised to catalyze a positive shift in our financial landscape.”

The results came after the close of the market hours. Shares of Patel Engineering Ltd ended at ₹58.60, up by ₹2.21, or 3.92% on the BSE.

Also Read: NHPC Q4 Results | Net profit declines 16% to ₹550 crore, declares dividend

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

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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

Ujjivan SFB Q4 Results | Net profit up 7% to ₹330 crore, declares dividend of ₹1.5

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

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Bengaluru-based Ujjivan Small Finance Bank Ltd on Saturday (May 18) reported a 6.5% year-on-year (YoY) increase in net profit at ₹329.6 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Ujjivan Small Finance Bank posted a net profit of ₹309.5 crore, the company said in a regulatory filing.

Net interest income (NII), which is the difference between the interest income a bank earns from its lending activities and the interest it pays to depositors, jumped 26.4%, coming at ₹933 crore against ₹738 crore in the corresponding quarter of FY23.

The gross non-performing asset (GNPA) stood at 2.23% in the March quarter against 2.18% in the December quarter. Net NPA came at 0.28% against 0.17% quarter-on-quarter.

In monetary terms, gross NPA stood at ₹612.5 crore against ₹570.7 crore quarter-on-quarter, whereas net NPA came at ₹76.3 crore against ₹42.8 crore quarter-on-quarter.

Also Read: NHPC Q4 Results | Net profit declines 16% to ₹550 crore, declares dividend

Disbursements for Q4 of FY24 were ₹6,681 crore, marking an 11% year-on-year increase, while annual disbursements reached ₹23,389 crore, up 17% year-on-year. The Affordable Housing segment saw substantial growth, disbursing ₹730 crore in Q4 of FY24 and ₹2,284 crore for the fiscal year, with year-on-year increases of 66% and 64%, respectively.

The gross loan book grew to ₹29,780 crore, a 24% increase year-on-year and a 7% rise quarter-on-quarter. Secured loans constituted 30.2% of the portfolio as of March 2024, up from 28.4% in December 2023. The bank maintained a high collection efficiency rate of around 99% in March 2024, with Non-Discretionary Advances (NDA) collections consistently at 100%.

The portfolio at risk stood at 3.5%, while the Gross Non-Performing Assets (GNPA) remained stable at 2.1% compared to December 2023. Net non-performing assets (NNPA) were negligible at 0.3% as of March 2024. The bank wrote off ₹65 crore in Q4 of FY24, maintaining a provision coverage ratio of 87%.

Deposits surged to ₹31,462 crore as of March 2024, reflecting a 23% year-on-year and a 6% quarter-on-quarter increase. The Current Account Savings Account (CASA) deposits grew to ₹8,335 crore, with year-on-year and quarter-on-quarter increases of 24% and 10%, respectively.

Also Read: Astral Q4 Results | Pipe maker declares dividend of ₹2.25, profit slides 12%

The CASA ratio improved to 26.5% from 25.5% in December 2023. Retail term deposits also saw significant growth, up 36% year-on-year and 7% quarter-on-quarter. The board has recommended a final dividend of ₹1.5 per share, subject to shareholders approval

The results came after the close of the market hours. Shares of Ujjivan Small Finance Bank Ltd ended at ₹53.28, up by ₹1.82, or 3.54% on the BSE.

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

India’s largest steelmaker announces its second-best dividend in FY24

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

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JSW Steel, the country’s largest steelmaker by capacity, announced a dividend per share (DPS) of ₹7.30 for the financial year 2024. The declared dividend is the highest payout from the company, barring FY22, in which it had distributed ₹17.35 per share.

The total outflow on account of equity divided stands at ₹1,785 crore for the year. Moreover, the steel producer distributed ₹822 crore in FY23 and a record ₹4,194 crore in FY22. For the last two years, the payout ratio — dividend as a percentage of earnings — has been in the range of 20%.

During the financial year, the net profit of the company more than doubled to ₹8,973 crore, whereas its revenue increased by 5.5% to ₹1.75 lakh crore. The sales volume of the company surged 11% year-on-year (YoY) to 24.78 MT in FY24 and it expects the same to hit 27.00 MT in FY25.

Also Read: Astral Q4 Results | Pipe maker declares dividend of ₹2.25, profit slides 12%

Domestic brokerage Centrum maintains its recommendation at “Add”, with a twelve-month target price of ₹909 per share. The brokerage expects the realisation of JSW Steel to increase in Q1FY25 along with a decline in coking coal cost resulting in higher margins QoQ.

According to Centrum, JSW is on the verge of commissioning 5 MTPA and 1.5 MTPA capacity expansion at Vijaynagar and BPSL and expects to ramp up by December 2024. “The expansion visibility remains strong and planned out target to reach 50 MT by FY31,” wrote Centrum in an investor note.

The March quarter numbers of JSW Steel were largely in line with weakness in India’s business made up of subsidiaries. As a result, the operating performance came in above Street estimates. The company reported an EBITDA of ₹6,124 crore during the quarter. In comparison, a CNBC-TV18 poll of analysts had pegged an EBITDA of ₹5,997 crore.

Also Read: NHPC Q4 Results | Net profit declines 16% to ₹550 crore, declares dividend

Further, the net debt of the company also narrowed by ₹5,305 crore sequentially, which stood at ₹73,916 crore at the end of March 2024. According to analysts who track the company, the reduction in Net debt was due to the relief in working capital requirement during the quarter.

Shares of JSW Steel ended Saturday’s session at ₹891.20 on the NSE, down 1.8% from the previous close. The stock has gained 4.4% in the last week, against 2% gains clocked by the benchmark Nifty50 during the same period.

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

Poly Medicure expects strong growth, margin expansion in FY25

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

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Medical consumables company Poly Medicure Ltd’s Managing Director Himanshu Baid on Saturday (May 18) said he anticipates robust growth and margin expansion in the upcoming fiscal year.

Regarding export growth, Baid remarked, “The exports have been doing well, and especially our European business has been growing very steadily, with a growth of around close to 40% there in Europe.”

He also noted a robust growth rate of around 18% in the Indian market, although expressing a desire for stronger growth domestically. Discussing margin outlook, Baid projected, “We would see a margin expansion of around 100 to 150 basis points. We are maintaining EBITDA guidance close to 26 to 28%.”

Also Read: Astral Q4 Results | Pipe maker declares dividend of ₹2.25, profit slides 12%

In terms of revenue projection, Baid said, “Last year, we suffered due to imports from China. But as the industry got regulated and BIS standards are in place, we are very confident now. We are expecting to close around 140 to 250 Crore this year.”

Further, Baid said, “We have ₹150 crore of net cash in the company right now. Also, we have taken approval from the board to raise additional funding in the company ₹ 800 crore. We got an approval in March. So we are also seeing some inorganic opportunities. No, of course, nothing is finalized now. But that’s the plan.”

Poly Medicure reported a 16.24% year-on-year (YoY) increase in net profit at ₹68.36 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Poly Medicure posted a net profit of ₹58.81 crore, the company said in a regulatory filing.

Also Read: NHPC Q4 Results | Net profit declines 16% to ₹550 crore, declares dividend

The company’s revenue from operations rose 23.21% to ₹378.07 crore as against ₹306.85 crore in the corresponding period of the preceding fiscal. The board has recommended a dividend of ₹3 per equity share (60%) of ₹5 each for the financial year 2023-24, subject to the approval of shareholders.

Shares of Poly Medicure Ltd ended at ₹1,649.15, down by ₹4.65, or 0.28% on the BSE.

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

Shipping Corporation of India net profit declines 19% to ₹307 crore, declares dividend

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

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State-run Shipping Corporation of India Ltd on Friday reported a 19% year-on-year (YoY) decline in net profit at ₹307.3 crore for the fourth quarter that ended March 31, 2024.

In the corresponding quarter, the Shipping Corporation of India posted a net profit of ₹380 crore, the company said in a regulatory filing. The company’s revenue from operations fell 0.4% to ₹1,412 crore as against ₹1,418 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA slide 12.3% to ₹406 crore in the fourth quarter of this fiscal over ₹463 crore in the corresponding period in the previous fiscal.

Also Read: RVNL Q4 Results | Rail PSU declares dividend of ₹2.11 per share, profit jumps 33%

EBITDA margin stood at 28.8% in the reporting quarter as compared to 32.7% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The board has recommended a dividend of ₹0.50 per equity share of face value of ₹10 each i.e., 5% per share, subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) of the company. The said dividend if declared would be paid within 30 days from the date of its declaration at the AGM.

The results came after the close of the market hours. Shares of Shipping Corporation of India Ltd ended at ₹234.75, up by ₹1.45, or 0.62% on the BSE.

Astral Q4 Results | Pipe maker declares dividend of ₹2.25, profit slides 12%

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

Federal Bank top performer among mid-sized private banks over 5 years

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

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With the 2023-24 fiscal in the rearview mirror, CNBC-TV18 took stock of the five-year performance of mid-sized private banks across various parameters.

Under the leadership of MD and CEO Shyam Srinivasan, private lender Federal Bank has provided the best returns to shareholders over the past five years. This achievement is backed by notable improvements in the bank’s financial performance compared to its peers.

Deposits

Federal Bank has experienced strong business momentum over the last five years. Its deposit base has grown at a CAGR (Compounded Annual Growth Rate) of 37.4% during this period. The bank’s market share in deposits increased from 0.88% in FY19 to 1.01% in FY24.

Advances

The bank’s advances have grown at a CAGR of 38% during this period. Its market share in advances rose from 1.38% in FY19 to 1.53% in FY24.

Asset Quality

Federal Bank has shown significant improvement in asset quality, with its GNPA (Gross Non-Performing Asset) ratio declining from 2.92% in FY19 to 2.13% in FY24. This decline in the GNPA ratio is the second best among its peers, next to Yes Bank.

Net Profit

Healthy business growth and improved asset quality have enabled Federal Bank to post the best profit growth among its peers. Although IDFC Bank, which began its banking journey in FY19, reported a net loss in its initial year, making it not comparable, Federal Bank’s performance stands out.

Loan Mix: Positive Shift

Under Shyam Srinivasan’s leadership, Federal Bank has significantly grown its retail and agriculture loan book at a massive CAGR of 44.3% over the past five years.

The loan mix has shifted from a corporate focus to more retail loans. The share of retail and agriculture loans increased to 45.6% in FY24 from 39.2% in FY19, while the corporate book’s share declined from 43.2% in FY19 to 35.15% in FY24.

Stock Returns

Shareholders have enjoyed substantial gains on their holdings. Among mid-sized private banks, Federal Bank has provided the second-best returns over the past five years.

However, when comparing all private banks, ICICI Bank outperforms Federal Bank.

Top of the Table

A simple aggregation of scores, with equal weight given to each parameter, clearly positions Federal Bank as the best performer over the past five years among mid-sized private banks.

Shares of Federal Bank Ltd ended at ₹163.55, down by ₹0.50, or 0.30% on the BSE.

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

NHPC Q4 Results | Net profit declines 16% to ₹550 crore, declares dividend

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

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State-owned NHPC Ltd on Friday (May 17) reported a 16.3% year-on-year (YoY) decline in net profit at ₹549.8 crore for the fourth quarter that ended March 31, 2024.

In the corresponding quarter, NHPC Ltd posted a net profit of ₹657 crore, the company said in a regulatory filing. The company’s revenue from operations dipped 6.9% to ₹1,888.1 crore as against ₹2,028.8 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA fell 1.4% to ₹885.4 crore in the fourth quarter of this fiscal over ₹898.4 crore in the corresponding period in the previous fiscal.

Also Read: Astral Q4 Results | Pipe maker declares dividend of ₹2.25, profit slides 12%

EBITDA margin stood at 47% in the reporting quarter as compared to 44.3% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The board has recommended a final dividend @5% of the face value of ₹10 per share (₹0.50 per equity share) on the paid-up share capital of the Company for the FY2023-24, subject to the approval of shareholders in the ensuing Annual General Meeting.

This is in addition to the interim dividend of ₹1.40 per equity share for the FY 2023-24 paid in March 2024. The final dividend, if declared, will be paid within the statutory period as per the Companies Act, 2013.

Also Read: RVNL Q4 Results | Rail PSU declares dividend of ₹2.11 per share, profit jumps 33%

The results came after the close of the market hours. Shares of NHPC Ltd ended at ₹99.24, up by ₹1.07, or 1.09% on the BSE.

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

Delhivery’s Executive Director Sandeep Barasia resigns

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

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Logistics company Delhivery Ltd on Friday (May 17) said its Executive Director and Chief Business Officer Sandeep Barasia has resigned from the company to pursue outside interests, after a successful stint of 9+ years.

He will remain with the company until June 30, 2024, Delhivery said in a press release.

Sandeep joined Delhivery Ltd in 2015. Under his leadership as the Chief Business Officer, the company entered new business segments of supply chain services, truckload, and cross-border logistics and significantly diversified its revenue base.

Also Read: NCC confident about India’s long-term infra growth

Sahil Barua, founder and Chief Executive Officer of Delhivery, said, “Sandeep has been instrumental in the growth and scale-up journey of Delhivery and has significantly contributed to making Delhivery the largest logistics player in India. On behalf of the entire Board, I want to thank Sandeep and wish him all the very best for the future.”

“I am very grateful to have had the opportunity to participate in the journey of Delhivery as it went from a start-up to India’s largest logistics player, achieving several firsts in the industry. I am proud of what has been accomplished so far and am confident of the continued success of Delhivery in the future,” Barasia said.

Shares of Delhivery Ltd ended at ₹456.25, up by ₹5.90, or 1.31% on the BSE.

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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

Astral Q4 Results | Pipe maker declares dividend of ₹2.25, profit slides 12%

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

Listen to the Article (6 Minutes)

PVC pipes and plastic products maker Astral Ltd on Friday (May 17) reported an 11.7% year-on-year (YoY) slide in net profit at ₹181.6 crore for the fourth quarter that ended March 31, 2024.

In the corresponding quarter, Astral posted a net profit of ₹206 crore, the company said in a regulatory filing. The company’s revenue from operations increased 8% to ₹1,625 crore against ₹1,506.2 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA dipped 5.7% to ₹291.4 crore in the fourth quarter of this fiscal over ₹309 crore in the corresponding period in the previous fiscal.

Also Read: JSW Steel Q4 Results | Steel major declares dividend of ₹7.30, net proft tanks 65%

The  EBITDA margin stood at 17.9% in the reporting quarter against 20.5% in the corresponding period in FY23. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The consolidated cash (including cash equivalents) and bank balances as of March 31, 2024 is ₹s609.5 crore. During the quarter, PVC/CPVC raw material prices were stable hence margins were better compared to Q3.

In Q4, bathware registered a sale of ₹24.2 crore. The company has already crossed 1000 showrooms or dealers hence it is expecting very good growth in the bathware division in FY25.

Also Read: Balrampur Chini Q4 net profit dips 20%, full-year distillery sales rise 37%

The board has recommended a final dividend of ₹2.25 per equity share of ₹1 each (face value) for the year ended March 31, 2024 subject to the approval of members at the ensuing annual general meeting (AGM).

The results came after the close of the market hours. Shares of Astral Ltd ended at ₹2,304.30, up by ₹32, or 1.41%, on the BSE.

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