Stocks In the News: Check out the companies making headlines before the opening bell.
Results on May 12: L&T, Tata Motors, RBL Bank, Apollo Tyres will be in focus ahead of Q4 earnings. Larsen & Toubro, Tata Motors, RBL Bank, Siemens, Aditya Birla Capital, Anupam Rasayan India, Apollo Tyres, Coforge, Greaves Cotton, Gujarat State Petronet, Honeywell Automation India, Poonawalla Fincorp, Ujjivan Small Finance Bank, Windlas Biotech, Avanti Feeds, Brigade Enterprises, CreditAccess Grameen, Genus Power Infrastructures, HP Adhesives, ICRA, Jammu & Kashmir Bank, JMC Projects, Lumax Auto Technologies, Matrimony.com, Mindspace Business Parks REIT, South Indian Bank and Spencers Retail will release quarterly earnings on May 12.
Birla Corporation: The company reported a 55.4 percent year-on-year decline in consolidated profit at Rs 111 crore for the quarter ended March 2022, impacted by higher power and fuel, input cost, and exceptional loss. Revenue grew 6 percent to Rs 2,264.2 crore from a year ago.
Petronet LNG: The liquefied natural gas importer clocked a 24 percent year-on-year growth in consolidated profit at Rs 791 crore in Q4FY22, driven largely by a strong topline. Revenue grew by 47.3 percent to Rs 11,160.4 crore compared to the year-ago period.
Punjab National Bank Q4: Net profit went down 65.5% at Rs 201.6 crore against Rs 586.3 crore (YoY). NII grew 5% at Rs 7,304.1 crore against Rs 6,956.8 crore (YoY). Gross NPA at 11.78% against 12.88% (QoQ). Net NPA at 4.8% against 4.9% (QoQ). Gross NPA at Rs 92,448 crore against Rs 97,259 crore (QoQ). Net NPA at Rs 34,908.7 crore against Rs 33,879 crore (QoQ).
Power Grid Corporation of India: The company has acquired Khetri-Narela Transmission (KNTL), the project SPV, to establish transmission system strengthening scheme for evacuation of power from solar energy zones in Rajasthan under Phase-II Part-G, on build, own, operate and maintain (BOOM) basis from the bid process coordinator – PFC Consulting.
Hindalco Industries: Subsidiary Novelis Inc recorded a 21 percent year-on-year growth in net income at $ 217 million in March 2022 quarter, driven by topline and lower tax cost. Net sales increased 34 percent to $ 4.8 billion compared to year-ago period, primarily because of higher average aluminium prices and local market premiums. But adjusted EBITDA at $ 431 million fell 15 percent on-year due to short-term operational cost challenges.
Skipper: The power transmission and distribution structures manufacturer clocked a 177 percent on-year growth in profit at Rs 25.12 crore in quarter ended March 2022 led by higher operating income and margin performance (up 260 bps YoY). Revenue grew by 11 percent to Rs 552.65 crore and EBITDA increased by 44 percent to Rs 61.67 crore compared to year-ago period. Order inflow in Q4FY22 stood at Rs 271 crore, and the closing order book as on March 2022 stood at Rs 2,115 crore.
Relaxo Footwears: The company reported a 38 percent on-year decline in profit at Rs 63 crore for the quarter ended March 2022, impacted by lower operating income and topline. Revenue during the same period dropped 7 percent to Rs 698 crore impacted by Covid, hike in GST rate and subdued demand amid high inflation. EBITDA fell 32 percent to Rs 111 crore compared to the same period last year on account of higher input cost.
Coforge Q4: Net profit was up 13% at Rs 207.7 crore against Rs 183.7 crore (QoQ). Rupee revenue rose 5.1% at Rs 1,742.9 crore against Rs 1,658.1 crore (QoQ). EBIT was up 3% at Rs 254.1 crore against Rs 246.7 crore (QoQ). EBIT margin at 14.6% against 14.9% (QoQ). Dollar revenue was up 4.9% at $ 232.4 million against $ 221.6 million (QoQ). Constant currency revenue growth at 5% against 5.7% (QoQ). Attrition rate at 17.7% against 16.3% (QoQ).
NCC: The construction company recorded a 97.4 percent on-year growth in consolidated profit at Rs 234 crore in the quarter ended March 2022 despite weak operating income that was hit by higher input cost. Profitability was supported by an entire stake sale in subsidiary NCC Virag Urban Infrastructure. Revenue grew by 23.5 percent to Rs 3,477 crore compared to the same period last year.
Pfizer: Life Insurance Corporation of India acquired 2.03 percent equity stake in the company via open market transactions. With this, its shareholding in the company stands increased to 6.05 percent, up from 4.02 percent earlier.
Butterfly Gandhimathi Appliances: The company posted loss of Rs 19.38 crore for the quarter ended March 2022, against profit at Rs 8.85 crore in year-ago period, as revenue from operations fell 3.3 percent to Rs 199.30 crore from Rs 206.2 crore during the same period.
Lakshmi Machine Works: The company recorded a healthy 218 percent year-on-year growth in consolidated profit at Rs 82.72 crore in the quarter ended March 2022, driven by strong topline and operating income. Revenue increased by 46 percent to Rs 998.5 crore compared to the same period last year.
SKF India: The company reported a 4.4 percent on-year growth in consolidated profit at Rs 109.5 crore in the quarter ended March 2022, led by strong topline. Revenue grew by 22.6 percent to Rs 1,039 crore compared to the year-ago period. The company has appointed Ashish Saraf as Chief Financial Officer.
INEOS Styrolution India: The company is expected to restart operations at its manufacturing plant at Nandesari, on May 12. The said plant was shut down due to a fire in one section.
Sagar Cement Q4: Net loss of Rs 19.2 crore against profit of Rs 48.1 crore (YoY). Revenue was up 20.1% at Rs 501.7 crore against Rs 417.7 crore (YoY). EBITDA went down 41.5% at Rs 61 crore against Rs 104.3 crore (YoY). EBITDA margin at 12.2% against 25% (YoY).
UltraTech’s Q4 FY22 EBITDA beat estimates on better realisations and control over fixed costs. The quarter witnessed a sharp pick up in demand momentum. Overall, volumes reported flattish trend YoY, but registered a sequential growth of 21%. Reported EBITDA witnessed a sharp bounce-back of 33% QoQ (-16% YoY; +10% against estimates), primarily led strong volumes. Blended EBITDA per tonne at Rs 1,108 per tonne grew by 10% QoQ (-16% YoY) led by realisation uptick and operating leverage benefits. Ultratech is expected to continue to outgrow industry with nearly 20MTPA expansion commissioning in FY23. In addition, its initiatives to increase the share of green power to 34% (20% currently) by FY24 and focus on margin accretive/asset light/value added business segments will be key drivers of improvement in its return ratio profile. We continue to value Ultratech at 15x EV/EBITDA to arrive at a target of Rs 8,000 and maintain buy.
Macrotech Developers: The real estate developer in partnership with Bain Capital and Ivanhoé Cambridge will develop a next-generation green digital infrastructure platform. The platform will jointly invest around $ 1 billion to create 30 million square feet of operating assets to serve India’s digital economy.
Moneycontrol News
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