Tag: Q1 RESULTS

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India’s Retail Inflation Surges to 7.44% in July – Top Indian Market Updates

inflation - top market updates - marketfeed
Food and Price Inflation Rises After Monetary Value Growth Ideas Financial problems and forecasting market crashes crisis risk. The young man pushed the shopping cart along the rising arrow chart.

Here are some of the major updates that could move the markets on Wednesday:

India’s retail inflation surges to 7.44% in July

India’s retail inflation (measured by the Consumer Price Index) surged 7.44% on an annual basis in July, compared to 4.81% in June. The consumer food price index (CFPI) rose from 4.49% in June to 11.51% in July. The sharp rise can be attributed to a steeper-than-expected increase in vegetable prices (especially tomatoes) over the past month.

Read more here.

ITC Q1 Results: Net profit rises 17.5% YoY to ₹4,902 crore

ITC reported a 17.5% YoY rise in net profit to ₹4,902.74 crores for the quarter ended June (Q1 FY24); beating street estimates. Its revenue from operations fell 7.23% at ₹16,995.4 crore during the same period. EBITDA stood at ₹5,083 crore in Q1, up 10% YoY. Revenue from ITC’s core cigarette business grew 13% to ₹7,465.27 crore.

In other news, ITC’s board has approved the scheme of arrangement for the demerger of its hotels business into a separate listed subsidiary. Shareholders of ITC will get 1 share in the demerged hotels business for every 10 shares held in the parent company.

Read more here.

Axis AMC launches private credit fund

Axis Asset Management (the mutual fund arm of Axis Bank) has launched a private credit alternative investment fund (AIF) and is aiming to raise nearly ₹1,250 crore from investors. The private credit fund is part of Axis Mutual Fund’s alternative assets business, which includes late-stage private equity and real estate AIFs on the private markets side and portfolio management services and long-only equity AIFs on the public markets side.

Read more here.

Divi’s Labs Q1 Results: Net profit falls 49% YoY to ₹356 crore

Divi’s Laboratories reported a 49% YoY decline in consolidated net profit to ₹356 crore for the quarter ended June (Q1 FY24). Its revenue from operations fell 21% YoY to ₹1,778 crore during the same period. Total expenses stood at ₹1,367 crore in Q1, down 8% YoY. 

Read more here.

SEBI seeks 15-day extension to complete probe in Adani-Hindenburg case

The Securities and Exchange Board of India (SEBI) has requested the Supreme Court to grant 15 more days to conclude the investigation into allegations made by US short-seller Hindenburg Research against the Adani Group. SEBI has completed investigating 17 out of the 24 transactions it had taken up for probe. The regulator has sought more information from other regulators and foreign jurisdictions to plan a further course of action.

Read more here.

SpiceJet Q1 Results: Net profit at ₹198 crore

SpiceJet Ltd reported a consolidated net profit of ₹197.64 crore for the quarter ended June (Q1 FY24). The airline reported a loss of ₹783.72 crore in Q1 FY23. its revenue from operations fell 19% YoY to ₹2,371.53 crore during the same period. The company’s profit was on the back of a 36% Yoy decline in total expenses to ₹2,069.24 crore in Q1.

Read more here.

Domestic air passenger traffic rises 25% in July

According to the Directorate General of Civil Aviation (DGCA), India’s domestic air passenger traffic volume rose 25% year-on-year (YoY) to 1.21 crore passengers in July. IndiGo carried 76.75 lakh passengers, securing a market share of 63.4% during July. SpiceJet flew 5.04 lakh passengers in July, with a market share of 4.2%.

Read more here.

Ramkrishna Forgings secures $13.65 million order in North America

Ramkrishna Forgings has secured a $13.65 million (~₹107 crore) order from clients in the North American region. The order is for the supply of rear axle and transmission components. The company said it is strategically expanding its footprint in North America and strengthening its position within the light vehicle sector.

Read more here.

Ashok Leyland to fully acquire OHM India

Ashok Leyland will fully acquire OHM Global Mobility Pvt Ltd from OHM International Mobility Ltd. The automaker will invest ₹300 crore into the acquired entity. The acquisition is a part of the company’s EV strategy to engage in the business of e-Mobility as a Service (eMaaS). OHM India is envisaged to operate in transportation, logistics operation and management and eMaaS.

Read more here.

L&T secures contract to build international cricket stadium

Larsen & Toubro (L&T) Construction has secured an order from the Uttar Pradesh Cricket Association to construct a cricket stadium in Varanasi on a Design & Build Turnkey basis. The scope of work for L&T includes the main ground as per ICC standards, display scoreboard, flood lights, corporate boxes, VIP lounges, office areas, broadcasting, press conference areas, kitchen & dining areas, and a practice ground.

Read more here.

Happy Independence Day to all our readers! 🇮🇳

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Daily Market Feed Post Market Analysis

Supports Respected! Nifty Closes Above 19,400 – Post-Market Analysis

NIFTY started the day at 19,383 with a gap-down of 44 points. Within just 10min of opening, the index fell nearly 130 points to 19,260— breaching the support zones of 19,300. After the fake breakdown, Nifty moved up sharply by nearly 200 points throughout the day to 19,460 levels. Nifty closed at 19,434, up by 6.25 points or 0.03% 

Nifty chart Aug 14 - post-market analysis

BANK NIFTY (BNF) started the day at 44,066 with a small gap-down of 132 points. In the first 10min, the index fell over 300 points to 43,770 levels. It then slowly moved up to 44,200 levels— a rally of more than 430 points from the day’s low. BNF closed at 44,090, down by 108 points or 0.24%. 

Bank Nifty chart Aug 14 - post-market analysis

All other indices except Nifty Media (+0.8%), Nifty IT (+0.68%), and Nifty FMCG (+0.49%) closed in the red. Nifty Metal (-2.1%) fell the most. 

Major Asian markets closed in the red. European markets are currently trading mixed.

Today’s Moves

LTIMindtree (+1.68%) was NIFTY50’s top gainer on the back of strong volumes.

Olectra Greentech (+9.59%) broke its 5-day losing streak, surging up to 10% today.

Mazagon Dock Shipbuilders (+7.6%) jumped after the company’s Chairman Sanjeev Singhal said he anticipates a strong FY25 with major order deliveries.

Adani Ent (-3.29%) was NIFTY50’s top loser. Other Adani Group stocks also fell sharply after Deloitte Haskins & Sells resigned as the statutory auditor of Adani Ports.

Nykaa (-8.14%) crashed after several brokerage firms highlighted challenges in the company’s growth in their post-earnings stock reviews. 

Markets Ahead

As mentioned earlier, the markets were weak, and a flat or gap-down opening could take the indices further down. And that’s what happened today. After the gap-down, Nifty went on to hit our target of 19,300, and Bank Nifty was in our volatile zone.

Nifty: There is strong buying from 19,300 levels, but the markets can still be bearish until the 19,500 resistance is breached. In that case, the index may turn bullish and go on to hit targets of 19,630. If today’s swing of 19,350 is breached, the index will test 19,300 again, and if that’s broken, Nifty can fall to bigger targets of 19,200 and 18,900 in the coming weeks.

Bank Nifty: The index is looking weaker than Nifty, and is still in our volatile zone between 44,500 and 43,400. Bank Nifty can continue to be volatile and hit stop losses on both sides, so wait for this range to be broken.

Finnifty: The index moved in a similar pattern as Bank Nifty today. Being expiry today, it was relatively easy for non-directional option sellers as the IV (which spiked initially) was cooling off gradually.

Meanwhile, India’s retail inflation surged 7.44% on an annual basis in July, compared to 4.81% in June. The sharp rise can be attributed to a steeper-than-expected increase in vegetable prices (especially tomatoes) over the past month.

How did FIN NIFTY expiry trading go? Let us know in the comments section of the marketfeed app.

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The markets will remain closed tomorrow on account of Independence Day. marketfeed wishes all our readers a very Happy Independence Day!

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Market News Top 10 News

NCLT Approves ZEEL’s Merger With Sony – Top Indian Market Updates

Here are some of the major updates that could move the markets tomorrow:

NCLT approves ZEEL’s merger with Sony

The Mumbai bench of the National Company Law Tribunal (NCLT) has approved the merger scheme between Zee Entertainment Enterprises Ltd (ZEEL) with Culver Max Entertainment (Sony). The tribunal has also dismissed all objections regarding the merger.  This is a key regulatory approval for the mega-merger, aimed at creating a $10-billion media giant.

Read more here.

RBI keeps repo rate unchanged at 6.5%

Reserve Bank of India (RBI) left the repo rate (key policy rate) unchanged at 6.5%. The central bank’s Monetary Policy Committee (MPC) also retained its withdrawal of accommodation stance to ensure that the retail inflation remains within the target of 4%. The RBI retained the GDP growth projection for the current financial year (FY24) at 6.5% and raised the inflation projection marginally to 5.4%

Read more here.

Grasim Q1 Results: Net profit falls 18% YoY to ₹1,576 crore

Grasim Industries reported an 18% YoY fall in consolidated net profit to ₹1,576 crore for the quarter ended June (Q1 FY24). Its consolidated revenue for the quarter stood at ₹31,065 crore, up 10.7% YoY. The decline in net profit could be attributed to an over 14% YoY jump in its total expenses for Q1 at ₹27,923.38 crore. 

Read more here.

SBI Card enables RuPay credit cards on UPI

SBI Card and National Payments Corporation of India (NPCI) announced the linking of SBI credit cards on the RuPay platform with UPI. The company’s customers will now be able to make UPI transactions through credit cards issued on RuPay. The facility can be availed of by registering the credit card with third-party UPI apps.

Read more here.

Samvardhana Motherson Q1 Results: Net profit jumps four-fold to ₹601 crore

Samvardhana Motherson reported a four-fold rise in consolidated net profit to ₹601 crore for the June quarter (Q1 FY24). Its consolidated revenue from operations rose 27% YoY to ₹22,462 crore during the same period. EBITDA stood at ₹1,940 crore, up 69% YoY, driven by operating efficiency, and softening of material and energy prices. 

Read more here.

Pidilite Q1 Results: Net profit rises 32% YoY to ₹474 crore

Pidilite Industries reported a 31.5% YoY jump in net profit to ₹473.7 crore for Q1 FY24. Its consolidated revenue rose 5.6% YoY to ₹3,275.1 crore during the same period. EBITDA rose 33.5% YoY ₹706.8 crore from ₹529.5 crore in the same quarter last year. EBITDA margin also expanded by 450 basis points (bps) from 17.1%, YoY to 21.6%.

Read more here.

Godrej Cons to build manufacturing facility in Tamil Nadu

Godrej Consumer Products Ltd (GCPL) announced that it has signed a Memorandum of Understanding (MoU) with the state government of Tamil Nadu. The MoU is for building a manufacturing facility near Chennai. The company will make an investment of ₹515 crore over the next five years. It will serve as a manufacturing hub for brands such as Cinthol, Godrej Expert Rich Crème, Godrej Selfie Shampoo Hair Colour, and Goodknight.

Read more here.

Hero MotoCorp Q1 Results: Net profit rises 32% YoY to ₹825 crore

Hero MotoCorp reported a 32% YoY increase in net profit to ₹825 crore for Q1 FY24. Its consolidated revenue rose 4.5% YoY to ₹8,767.3 crore during the same period. EBITDA grew 28% YoY ₹1,206 crore in Q1. The company incurred a one-time cost of ₹160 crore towards the voluntary retirement scheme (VRS) offered to certain employees.

Read more here.

NHPC plans to build pumped hydro storage projects of 22,000 MW

NHPC Ltd is planning to develop around 20,000-22,000 MW of pumped hydro energy storage projects in the coming years. The capacities are being explored in Odisha, Maharashtra, Madhya Pradesh and Andhra Pradesh. However, the detailed project report and the approvals are likely to take a couple of years for at least some of these capacities to start building.

Read more here.

Vi seeks time till Dec to clear its statutory dues

Vodafone Idea has sought time till the end of December 2023 to clear its remaining statutory dues. The company hopes to close its fundraising from banks and third-party investors in the “near future” and is reiterating that its promoters are “committed” to supporting the company. Replying to a Department of Telecommunications (DoT) show cause notice, the company cited continuing liquidity challenges due to its delayed fundraising.

Read more here.

LIC Q1 Results: Net profit jumps 14x to ₹9,544 crore

Life Insurance Corporation of India (LIC) reported a 14x YoY increase in net profit to ₹9,544 crore for Q1 FY24. Its net premium income was flat at ₹98,363 crore during the same period. Income from investments rose 30% YoY to ₹90,309 crore in Q1.

Read more here.

Hindalco, Texmaco to make aluminium rail wagons, coaches

Hindalco Industries and Texmaco Rail & Engineering have entered into a strategic alliance and announced a ₹200 crore investment to develop and manufacture aluminium rail wagons and coaches that will help the Indian Railways achieve emission goals and boost operating efficiency. Texmaco is the flagship of the Adventz Group.

Read more here.

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Daily Market Feed Post Market Analysis

Volatile Expiry as RBI Keeps Repo Rate Unchanged at 6.5%! – Post-Market Analysis

Post-Market Analysis for August 10, 2023:

NIFTY started the day at 19,605 with a gap-down of 27 points. The index initially consolidated till 10 AM. Soon after RBI made its monetary policy announcements, the markets fell sharply from 19,620 zones to 19,500 levels, took support, and then gave a sharp recovery of 100 points to 19,600 zones. Then, it again fell to the day’s low of 19,500 and eventually consolidated near 19,550. Nifty closed at 19,543, down by 89 points or 0.46% 

Nifty chart Aug 10 - post-market analysis

BANK NIFTY (BNF) started the day at 44,797 with a gap-down of 83 points. Initially, the index moved up to 45,000 levels. After 10 AM, it fell sharply by nearly 500 points in 20 mins to 44,500 zones and took support there. Then, Bank Nifty tried to make a recovery but did not have enough strength, and it mostly consolidated for the rest of the day to close at 44,541, down by 338 points or 0.76%. 

Bank Nifty chart Aug 10 - post-market analysis

All indices except Nifty Media (+6.6%) and Nifty Metal (+0.68%) closed in the red. Nifty FMCG (-0.91%) fell the most.

Major Asian markets closed flat-to-green. European markets are currently trading in the green.

Today’s Moves

Adani Enterprises (+1.8%) was NIFTY50’s top gainer. 

ZEEL (+16.5%) surged and hit a 52-week high of ₹290.70 after the National Company Law Tribunal (NCLT) approved its proposed merger with Sony India.

Jubilant Pharma (+11.3%) rallied on the back of strong volumes.

Asian Paints (-2.79%) was NIFTY50’s top loser. One of the company’s employees was booked for stealing confidential info, causing ₹6 crore loss to the firm.

RattanIndia Enterprises (-7.85%) fell sharply after the company posted its Q1 results today.

Markets Ahead

Nifty and Bank Nifty were extremely volatile on expiry day, and there’s still selling pressure that can be seen in both indices.

Nifty: The important round level support now in Nifty would be 19,500 and the major resistance to look out for is 19,600 levels. A breakout from 19,600 can give us targets of 19,690 and 19,720 (gap-filling levels) and a breakdown from 19,500 could give us targets of 19,420 and 19,390.

Bank Nifty: The index is currently at the support zone of 44,400-500. The immediate resistance will be 44,700 levels. A breakdown of the support levels can give us targets of 44,280 and 44,000. A breakout can give us targets of 45,000 and 45,150 levels.

Meanwhile, the Reserve Bank of India (RBI) has retained the key policy repo rate at 6.5%. It has also maintained the gross domestic product (GDP) growth projection for FY24 at 6.5%. 

According to an Economic Times report, the RBI’s decision to enforce an additional Cash Reserve Ratio (CRR) of 10% of Net Demand and Time Liabilities (NDTL) on banks severely impacted market sentiment today.

Now, all eyes will be on US inflation figures. This data holds significant importance for the global market as it seeks insights into the potential direction of the US Fed’s policy.

How was expiry day trading? Are you in net profit or loss? Let us know in the comments section of the marketfeed app.

Don’t forget to tune into The Stock Market Show at 7 PM on our YouTube channel!

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Market News Top 10 News

Tata Power’s Net Profit Rises 22% YoY to Rs 972Cr in Q1- Top Indian Market Updates

Here are some of the major updates that could move the markets tomorrow:

Tata Power Q1 Results: Net profit rises 22% YoY to ₹972 crore

Tata Power reported a 22.4% YoY rise in consolidated net profit to ₹972 crore for the quarter ended June (Q1 FY24). Its consolidated revenue from operations stood at ₹15,213.29 crore, up 5% YoY. EBITDA increased 75% YoY to ₹2,943.6 crore in Q1. Tata Power accrued a one-time gain of Rs 235 crore in the reported quarter on account of deemed gain on dilution of around 17% stake in Tata Projects. 

Read more here.

Hero MotoCorp faces tax probe over links to vendor

According to a Reuters report, The Directorate General of Goods and Services Tax Intelligence is investigating Hero MotoCorp’s relationship with a vendor suspected of reporting about ₹90 crore ($10.87 million) in false expenditure. Based on the alleged fake spending by vendor Salt Experiences, Hero MotoCorp received a tax credit, leading to suspected tax evasion of about ₹16 crore rupees.

Read more here.

ZEEL Q1 Results: Net loss at ₹53 crore

Zee Entertainment Enterprises Ltd (ZEEL) reported a consolidated net loss of ₹53 crore for the June quarter (Q1 FY24). Net profit stood at ₹107 crore in Q1 FY23. Its consolidated revenue from operations rose 7.6% YoY to ₹1,984 crore during the same period. Sequentially, the net loss narrowed from Rs 196 crore, while revenue declined 6%. EBITDA fell 42.3% YoY to ₹155 crore in Q1.

Read more here.

BSE Q1 Results: Net profit jumps 10x YoY to ₹440 crore

BSE reported a 1000% YoY jump in consolidated net profit to ₹440 crore for Q1 FY24. Net profit stood at ₹40 crore in Q1 FY23. Its revenue from operations rose 15% YoY to ₹216 crore during the same period. EBITDA rose 41% YoY ₹70 crore. The operating profit margin contracted by 375 basis points to 10.78%. The massive jump in net profit was due to a profit of ₹406.6 crore on divestment in CDSL.

Read more here.

Genus Power Infrastructures arm bags order worth Rs 2,210 crore

Genus Power Infrastructures’ subsidiary has bagged an order worth ₹2,210 crore. The order is for the supply and installation of 21.77 lakh smart pre-paid electricity meters. The company has received a letter of award (LOA) of ₹2,209.84 crore (net of tax) for the appointment of an advanced metering infrastructure service provider. Post this order inflow, its total order book stands over ₹8,200 crore (net of tax).

Read more here.

IRCTC Q1 Results: Net profit falls 5% YoY to ₹232 crore

IRCTC reported a 5% YoY fall in standalone net profit to ₹232 crore for the June quarter (Q1 FY24). Net profit stood at ₹245 crore in Q1 FY23. Revenue from operations rose 17% YoY to ₹1,002 crore during the same period. The company’s EBITDA for the quarter rose 7% YoY to ₹343 crore. 

Read more here.

Delhivery bags order from Havells India for factory-to-customer supply chain

Delhivery Ltd secured a contract to build, and operate the factory-to-customer supply chain for Havells India Ltd. in western India. The company will deploy its technology-led integrated warehousing and transportation solutions to deliver complete end-to-end visibility. Both firms will jointly inaugurate new warehouses in western India to cater to the multi-channel demand ranging from general and modern trade to emerging e-commerce retail.

Read more here.

Berger Paints Q1 Results: Net profit rises 40% YoY to ₹355 crore

Berger Paints reported a 40% YoY jump in consolidated net profit to ₹355 crores for the quarter ended June (Q1 FY24). Its revenue from operations stood at ₹3,029 crore, up 9.2% YoY. EBITDA increased 37.5% YoY to ₹556.75 crore in Q1. The company’s board also approved a 1:5 bonus issue of equity shares. This will be subject to approval from shareholders.

Read more here.

Vi Business partners with Yotta Data Services to enhance its data center colocation

Vodafone Idea’s enterprise arm, Vi Business has partnered with Yotta Data Services to enhance its data center Colocation and Cloud services portfolio. Through this partnership, Vi Business will leverage its synergies with Yotta to offer integrated connectivity, cloud and security solutions to its enterprise customers.

Read more here.

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Market News

Adani Power Q1 Results: Net Loss At Rs 682.5 crore

Adani Power came out with its results recording a Net Loss standing at Rs 682 crore as compared to Rs 1,312.9 crore. in the quarter ending March 20′ decreasing Net Loss by 49%(QoQ).

Q1 FY21Q4 FY20Q1 FY20QoQ%YoY%
Revenue5,356.26,327.68,014.5-15.35-33.17
Net Profit/Loss-682.5-1,312.9-263.448.02-159.19
Amount in Rupees Crores

Adani Power Limited is the power business subsidiary of Indian conglomerate Adani Group with head office at Ahmedabad. The company is India’s largest private thermal power producer, with a capacity of 12,450 MW.

The average Plant Load Factor(Capacity Utilisation) of 51% in Q1 FY 2020-21 vs 78% in Q1 FY 2019-20. The PLF is lower due to the decline in power
demand following the announcement of a nationwide lockdown to combat COVID-19. Consolidated Units sold for the quarter are 12.7 BU, as compared to the Q1 FY20 sales the volume of 16.5 BU.

The Future

The Madhya Pradesh Electricity Regulatory Commission has approved a 1.23 MegaWatt Power Supply Agreement (PSA) with the company’s wholly-owned subsidiary, Pench Thermal Energy (MP) Ltd. and MP Power Management Company Ltd. The power to be supplied under this PSA will be supplied by a 1.32 MW power-plant to be set up in Madhya Pradesh under a Design, Build, Finance, Own. and Operate basis.

Adani Power Ltd. has also signed a definitive agreement to acquire a 49% stake in Odisha Power Generation Corporation Ltd. (OPGC) from the affiliates of AES Corporation, a US-based energy company. The deal is estimated to be an INR equivalent of $135 million. The company seems ready make a recovery once the COVID situation normalises.

You can read the official result over here.

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Market News

Relaxo Footwears Ltd Q1 Results: Net Profit Falls 51%

relaxo footwear

Relaxo Footwears Ltd. declared its results on Wednesday, with its net profit standing at Rs. 24.22 Cr facing a decline of 51.31% YoY.

Q1 FY21
Q4 FY20
Q1 FY20
QoQ%YoY%
Total Revenue370.5544.6649.5-42%-31.97%
Net Profit24.2251.8049.75-53.19%-51.31%
Values in Rupee Crores
  • Relaxo Footwears Limited is an Indian multinational footwear manufacturer based in New Delhi. It is the largest footwear manufacturer in India in terms of volume and second-largest in terms of revenue, with a market share of more than 5 per cent. The company makes products under 10 brands including Flite, Sparx, Bahamas and Schoolmate.
  • The company declared a profit before taxes (PBT) of Rs.32.3 Cr stating a 57.1% decline YoY and a 53.19% QoQ. EBITDA stood at Rs. 58 Cr down 45% as compared to last year.
  • The Company said in its statement: “The Company’s operations for the quarter were impacted due to the temporary suspension of production across plants. The operations are gradually ramping up, despite limited availability of workforce and supply chain disruptions.”

According to researchandmarkets.com, India is the largest global producer of footwear after China, accounting to approx 13% of world footwear production, which is close to 16 billion pairs. This means that the average consumption globally is about 2-3 pairs/person. India produces approximate 2 Billion pairs annually in different categories of Footwear. India exports about 115 million pairs, thus nearly 95% of its produce meets its domestic demand.

Revenue in the Footwear market amounts to US$7.9 Billion in 2020. The global market is expected to grow annually by 9.6% (CAGR 2020-2025) and hopefully Relaxo will be part of the growth as well.

You may check the company report over here.

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Market News

Sun Pharma Q1 Results, Net Loss Rs.1665.50 Cr

Sun Pharmaceuticals recorded a revenue of Rs. 7,739.04 Cr which is a decline of about 9.6% over the same quarter last year and about 6.1% less than the quarter ending March 20′. India sales at Rs. 2,388 crores, growth of 3.2% over Q1 last year

Sun Pharma went on in recording a Loss of Rs.1665.50 Cr as compared to Rs. 1,387.48 Cr. profit last year and Rs.399.84 Cr. in the quarter ending March 20′

Sales in the US were US$ 282 million for the quarter accounting for about 29% of total consolidated sales.

In 2010, Sun Pharma acquired US-based Taro Pharmaceuticals, Taro posted Q1FY21 sales of US$ 117.6 million, down 27% over Q1 last year. Excluding the one-time settlement charge of US$ 478.9 million, net profit was US$ 29 million compared to US$ 66.2 million in Q1FY20. Taro’s reported a net loss for Q1 was US$ 434.9 million.

Consolidated R&D investment for Q1FY21 was Rs. 421 crores, or 5.6% of sales as compared to Rs. 422 crores (5.1% of sales) for Q1 last year.

Dilip Shanghvi, Managing Director of the Company said, “The Q1 performance reflects the impact of the global COVID-19 pandemic and consequent lockdown across markets and is not an indicator of the underlying strength of our business. Despite challenging conditions, we have done well and have not lost market share for any of our key
speciality products in the US. We have also maintained our market share in the Indian domestic market. Our timely risk mitigation initiatives ensured smooth operations of our manufacturing network, thereby maintaining continuous supplies of drugs. In the meantime, we continue to focus on serving our patients and customers,
ensuring the safety of our employees and business continuity.”

Q1 FY21Rs. Cr.Q4 FY20Rs.  Cr.Q1 FY20Rs.   Cr.QoQ%YoY%
Total Revenue7,739.048,287.2 8,587.4-6.61-9.88
Net Profit-1665.50399.841,387.48-516-219

You can read the official press release over here

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Market News

Manappuram Finance net profit up 37.93% YoY

Revenues and profits were affected by the pandemic induced lockdown, resulting in worse performance quarter-on-quarter (QoQ). 

Manappuram FinanceQ1 FY21Q4 FY20Q1 FY20QoQ%YoY%
Total Income1516.471618.151200.8-6.28%26.29%
Total expenditure1024.181084.08793.66-5.53%29.05%
Net Profit367.97398.2266.78-7.59%37.93%
values in crore rupees

Manappuram Finance is a Non-banking Financial Company (NBFC) majorly in the business of providing Gold Loans. Major subsidiaries include Manappuram Home Finance Ltd and Asirvad Microfinance Ltd.

Some key takeaways from the consolidated financial statement are :
  • Revenue from gold loans increased to Rs 1250.31 crore from Rs 1215.67 crore in Q4 FY20, up 2.84% QoQ
  • Gold loan portfolio increased to Rs 17,736.79 crore for the quarter, up 4.5% QoQ from Rs 16,967.18 crore
  • Consolidated Asset under Management (AUM) growth with +25.6% YoY and +0.5 % QoQ
  • Cash and bank balances stand at Rs 5,420.82 crore, up 48.7% QoQ from 3,645.94 crores
Standalone results for subsidiary Asirvad Microfinance
  • Revenue decreased to Rs 263.36 crore from Rs 392.53 crore in the previous quarter, down 32.9%
  •  Reported net loss at Rs 4.18 crore for the quarter against profit of Rs 75.41 crores in Q4 FY20
  •  Provisions (bad debts) up 443.4% YoY to Rs 90.65 crore from 16.68 crore in Q1 FY20
  • AUM down 8.4% QoQ from Rs 5,502.64 crore to Rs 5038.31 crore

“Based on the current indicators of future economic conditions, the company considers the provisions taken to be adequate and expects to recover the carrying amount of these financial assets”, the company remarked in its corporate filing.

Manappuram Finance Ltd looks in a great position due to its clear focus on gold loans. The company understands its strengths, and stated that it “will focus on gold loans due to short tenor, liquid collateral and minimal credit risk”. Gold prices being at an all-time high will help the company attract more customers, while keeping a low credit risk.

Share prices of Manappuram Finance Ltd (NSE:Manappuram)  closed at Rs 179.05 down 1.86%. You can read the complete quarterly report here.

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Market News

Bharti Infratel Q1 Results.

Infratel

Bharti Infratel is a company that deploys, own and manages telecom towers and communication services across the country. The company has over 42,053 standalone towers across 18 states, and 11 telecom circles in India.

Bharti Infratel announced its Q1 results, with its Net Profit consolidated at Rs 401.6 Cr it declined QoQ at 0.84% from Rs 405 Cr at Q4FY20 and YoY at 35.52%. Total Revenue declared was Rs.1651.0 Cr facing a decline of 4% QoQ from Rs.1720 Cr last Quarter at Q4FY20. Total Revenue YoY fell by 7%. from Rs. 1778 Cr. Last Year. The company also declared an interim dividend of Rs 2.30 per equity share of Rs 10 each for the financial year 2020-21.

Q1FY21
Rs. Cr.		Q4FY20
Rs.  Cr.		Q1FY20
Rs.   Cr.		QoQ%YoY%
Total Revenue1,651.91,720.71,778.2-4%-7.1%
Net Profit401.6405622.8-0.84%-35.52%

Bharti Infratel said it has accepted the resignation of DS Rawat as Managing director & CEO of the company and as a director from the board effective August 3.

“The resilience shown by telecom industry as a vital service even in the wake of extreme exigencies like Covid-19 bears well for the future potential of our infrastructure industry,” Bharti Infratel Chairman Akhil Gupta said in the statement.

The company’s consolidated earnings before interest, tax, depreciation & amortization (EBITDA) declined 7% to Rs 1807 crore on-year while the operating cash flow was down 5% on-year to Rs 1267 crore.

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Market News

Havells vs V-Guard Industries, Q1 Results Declared.

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Havells India Ltd declared its Q1 Results facing a staggering decline of almost 64% in Net Profit QoQ basis and a decline of 63.8% of Net Profit on YoY basis. Its revenue generation stood as Rs 1516 Crores this year as compared to Rs 2238 Crores in Q4FY20 which is a reduction of 32%(QoQ). Last Financial Year, the company had declared a Total revenue of Rs. 2756.5 Crores.

V-Guard declared a Net Profit of just 3.6 Crore this quarter as compared to Rs. 32.2 crores last quarter Q4FY20 which is an 88.71% reduction in Net Profit(QoQ) and 93.14 %(YoY) with last year’s Q1 result at Rs.53 Crores.

According to V-Guard, “The spread of COVID-19 pandemic and consequent national and local lockdowns have had an adverse impact on the Company’s operations. Due to Market closures, supply chain disruptions and other effects of the lockdowns, tl1e Company’s revenues for the quarter ended June 2020 were 42% lower than the corresponding quarter of the previous year“.

Havells V-Guard
Total Revenue Change (QoQ) -32% -24.45
Net Profit Change %(QoQ)– 64%-63.8%
Total Revenue Change (YoY)-45%-42.13%
Net Profit Change %(YoY)-63.87%-93.14%
Comparative Change in Revenue and Profit

Both Havells and V-Guard are both electrical appliance manufacturers with Havells having a market cap of Rs. 372.74B and V-Guard with a Rs.70.84B. Both company shares moved sideways throughout the day and tanked by the end of the day due to expectation of poor performance.

To check company report for Havells click here.

To check company report for V-Guard click here.

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Market News

HDFC AMC Q1 Results Declared. How it went and what to expect?

The HDFC AMC (Housing Development Finance Corporation Asset Management Company) declared its Q1 results today. With its total revenue at Rs 491.3 Cr as compared to 449.6 last quarter, it has witnessed a total revenue growth at 9.27% QoQ, this is a considerable growth keeping the COVID situation in mind.

The company declared a net profit of Rs.302.4 Cr. as compared to Rs. 249 Cr with Net Profit Qtr Growth at staggering 21.3% QoQ and 3.62% YoY . Since PBT(Profit Before Taxes) saw a dip at 12%. The tax expenses too reduced this Quarter(YoY) by 44% this can be attributed to the moratoriums announced by the Finance Ministry as a relief for corporates.

The market opened at 2,510.00 followed by frequent spikes in the price and closed at 2,495.00.

Q1 FY21
Rs Cr.		Q4 FY20
Rs Cr.		Q1 FY20
Rs Cr.		QoQ%YoY%
Revenue491.3449.6552.89.27%-11.12%
Profit302.4249.8291.821.03%3.62%

Current Asset Under Management(AUM) USD 46 Billion with 39% equity oriented and 61% Non-Equity Oriented.

HDFC AMC Vs Industry Segmentation

“Since the revenue of the company is ultimately dependent on the value of the assets under management (AUM) it manages, changes in market conditions and the trend of flows into mutual funds may have an impact on its operations. Since the situation is still evolving and it seems likely that there will be a material impact on the economy, the effect on the operations of the company may be different from that estimated as at the date of approval of these financial results,” HDFC AMC said in a release

You can read the detailed quarterly result by clicking here