Dr Reddy’s Laboratories: The firm is in pact with Novartis India. The company signed exclusive sales and distribution agreement with Novartis India to promote and distribute select Novartis products including the Voveran range, the Calcium range and Methergine in India. For Dr Reddy’s India business has been a strong growth driver and remains a key focus market. This arrangement will strengthen its portfolio in the pain management and women’s health areas. Since July 2021, the stock has fallen 23 percent while so far this year it declined 12 percent.
Ashok Leyland: Net profit Rs 6 crore vs loss Rs 19 crore; Revenue rose 15 percent YoY. The firm reported a standalone profit of Rs 6 crore compared to a loss of Rs 19 crore a year ago due to higher volumes and cost management initiatives. Standalone revenues increased by 15% on year to Rs 5,535 crore. The light commercial vehicles volumes declined 11 percent on-year because of semi-conductor shortage. The medium and heavy commercial vehicles domestic truck and bus volumes grew by 39 percent on year compared to industry average of 20 percent. So far this year the scrip was up 8 percent while in last one month it fell 5 percent.
Voltas: Net profit falls 25 percent; Revenue declines 10 percent. Net profit falls 25 percent to Rs 97 crore while revenue declines 10 percent to Rs 1,794 crore YoY. The subdued demand and impact of omicron on market sentiments impacted the performance of Cooling Products segment. However, better execution efficiencies in some of the ongoing projects improved the profitability of Electro-Mechanical Projects and Services segment. The stock has fallen over 8% in the last one month while so far this year it declined nearly 3 percent.
TVS Motor: Promoter Sundaram Clayton sells stake in the firm. The stock will be in focus after its promoter Sundaram Clayton on Friday sold around 95 lakh shares or 2% stake in the company at an average price of Rs 635.97 per share via open market transaction on the BSE. With this sale Sundaram Clayton stake will be at around 50.26% from 52.26% earlier. The stock was trading flat last week while so far this year it was up nearly 5 percent.
Mangalam Cement: Net profit fell 57%; Revenue rose 11 percent YoY. The firm reported a 57 percent YoY decline in profit for December quarter to Rs 14 crore due to rise in power and fuel expenses. Revenue for the quarter stood at Rs 380 crore, up over 11 percent YoY. Power & Fuel cost increased 41% while total expenditure rose 24 percent. So far this year, the scrip fell over 2% while in 2021, it surged over 64 percent.
Indigo Paints: Net profit jump 29 percent; revenue increased 27 percent. The firm listed in February 2021 and surged nearly 75 percent on debut day. It reported a 29% jump in net profit to Rs 24 crore in the December quarter. Revenue rises 27 percent to Rs 265 crore YoY. It increased the product prices in the quarter under consideration to mitigate the sharp escalation in the price of raw materials. The firm said with prudent price increases, stabilizing raw materials and favourable product mix, the gross margins have improved on a sequential basis from 42 percent in Q2 FY22 to 43 percent in Q3 FY22. Since listing till date it fell around 40% while far this year its stock fell 10 percent.
Mrs Bectors Food Specialities: Net profit declines 25% while revenue advances 17%. The firm reported a 25 percent YoY decline in its profit Profit in Q3FY22 to Rs 16 crore due to higher total cost. Revenue advanced 17 percent to Rs 263 crore YoY. Total expenditure increased 22% to Rs 24 crore. The firm listed in December 2020 and surged nearly 74 percent on debut. In 2021, it dropped around 34 percent, while so far this year, it fell 6 percent.
Metropolis Healthcare: Net profit fallen 30% YoY while Revenue risen marginally 7%. The firm reported a 29.7 percent YoY fall in its net profit in Q3FY22 to Rs 41.21 crore. Revenue rises 6.6 percent to Rs 293 crore YoY. The profitability was impacted due to the firm’s increased investments in digital and marketing, manpower & customer experience initiatives in order to strengthen its brand. The firm also saw a sharp drop in volumes from government contracts. The stock is listed in April 2019 with issue price of Rs 880. In 2021, it advanced over 75 percent, while so far this year it fell over 30 percent.
Shreyas Shipping & Logistics: Net profit surged 368% while Revenue declined 17%. The firm reported a 368 percent jump in profit to Rs 60 crore due to sharp fall in total expenditure. Revenue declines 17 percent to Rs 120 crore YoY. Total expenses halves to Rs 62 crore from Rs 135 crore. The stock gave the biggest returns to its investors, surging over 268%. Year to date its stock rose over 16 percent.
Kalpataru Power Transmission: Net profit dipped 12% while revenue risen 11%. Its profit in Q3FY22 dips 12.3% to Rs 270 crore due to a challenging operating environment laden with inflated input prices and competitive pressure. Revenue rose 11% to Rs 3,889 crore YoY led by robust project execution in B&F, Water and International T&D subsidiaries. Net Debt declined to Rs.2,044 crores as on 31 Dec 2021 from Rs.2,343 crores over the same period last year. The firm said ” we expect the operating environment to continue to remain challenging. In this scenario, we will manage our business with agility, with continued focus on improving project delivery and high emphasis on maintaining healthy margins. We will continue to drive consistent and profitable growth through strengthening core business verticals, scaling up international markets, cost management and optimal investments.” The stock has given muted returns in the last one year with gaining just over 9% while in last three sessions it fallen over 5%.
?VA Tech Wabag: Margin improved to 11% from 9% a year ago; profit advanced 20%. The firm’s profit in Q3FY22 jumps 20% to Rs 46 crore while its EBITDA margin improved to 11% from 9% a year ago. The firm said its higher project mix of Industrial & International orders and execution pace resulted in improved operating margins. Revenue drops 6% to Rs 746 crore YoY. The scrip given over 48% returns in last one year while in last one month it fallen nearly 10%.
Stove Kraft: EAM Emerging Markets SmallCap Fund sells stake. The stock will be in focus after NSE bulk deal data showed that the EAM Emerging Markets Small Cap Fund LP sold 1.66 lakh equity shares in the company at Rs 663.28 per share. Since October 2021, the scrip has fallen over 43% while year to date it declined 34%.
Jaiprakash Power: The firm reports profit from a loss year ago; revenue jumps 42%. The debt-laden firm reported profit at Rs 107 crore in Q3FY22 against loss Rs 9 crore in Q3FY21, revenue jumps 42% to Rs 1,401 Cr YoY. The revenues from its mainstay power business grew 8% on year to Rs 1,059 cr, while revenues from its coal business grew by 38% on year to 128 cr. Sand mining business which was not there last year, grew by 411% to Rs 322 crore and cement grinding business grew by 222% to Rs 21 cr. The cost of raw materials as percentage of sales increased by 490 bps to 67% which consequently impacted the EBITDA margins resulting in YoY decline of 7% to 26%. The stock has risen over 255% in the last one year while since the start of January 2022 it gained 36%.
Fortis Healthcare: Net profit jumps 142%; revenue rose 25%. Profit spiked 163% to Rs 142 crore in Q3FY22 as revenue jumped 25% to Rs 1,467 crore YoY. Revenue from hospitals business grew 23% on year to Rs 1,182 crore while its EBITDA grew 46% on year to Rs 190 crore aided by higher surgical volumes in key specialities. EBITDA margins improved 260 bps to 17% for the quarter. The diagnostic business grew 27% on year to Rs 389 crore. Covid contribution to overall diagnostics revenues was at 19% compared to 24% in Q3FY21. EBITDA margins for the business improved 270 bps to 27%. Net debt at the end of the quarter was at Rs 621 crore, lower by Rs 248 crore compared to preceding quarter. The stock has remained volatile so far this year with falling over 17%.
Mazagon Dock Shipbuilders: Net profit jumped 52%; revenue rises marginally by 6%. Profit in Q3FY22 jumped 52% to Rs 215 crore, revenue rose 6% to Rs 1,552.50 crore YoY. The company was able to save on raw material and sub-contractor cost as well as other project related expenses which aided in 119% YoY improvement in EBITDA to Rs 202 crore. Consequently, EBITDA margins at 13% were higher by 670 bps compared to 6% margin during last year. Since last October 2021, the stock fallen over 18% while so far this year it declined over 6%.
?Sobha: Net profit jumps 51% while revenue drops over 2%. Net profit jumps 51.4% to 33 crore. Revenue drops 2% to Rs 668 crore YoY. Bengaluru, which is the company’s primary market showed outstanding sales performance during the quarter. Gurugram, Pune and GIFT CITY also performed well during the quarter and as a result for nine months they have already crossed sales volumes achieved during FY 20-21. The higher cash flows helped the company to reduce its debt by Rs 123 crore bringing its cost of borrowing down to 9%. Year to date the scrip was trading flat while in the last one month it fell over 6%.
Shree Renuka Sugars: Net profit to Rs 43 crore vs loss; revenue jumps 47%. The firm reported profit at Rs 43 crore in Q3FY22 against loss Rs 141 crore in Q3FY21 due to higher revenue. Revenue jumps 47% to Rs 2,006 crore. EBITDA for the quarter stood at Rs 380 crore against an EBITDA loss of Rs 467 crore in the same period a year ago. EBITDA margins improved to 19%. The stock was the biggest multibagger since last year. In 20201, it surged over 300% while so far this year it jumped over 350%.