The Q1FY25 earnings season kickstarted this month with IT majors like Tata Consultancy Services (TCS) and HCL Technologies releasing their quarter results and even beating street estimates. And now, India Inc is all set in queue to release their numbers for the quarter ended June 30, 2024.
Today, companies like Bajaj Auto, L&T Finance, CRISIL, Century Textiles and Industries, Just Dial, BMW Industries, Aditya Birla Money, Jubilant Ingrevia, Just Dial, Network 18 Media & Investments, TV18 Broadcast, among a few others, will announce their Q1FY25 earnings.
Till now, besides TCS and HCL Tech, Tata Elxsi, Anand Rathi Wealth, NELCO, GTPL Hathway, Indian Renewable Energy Development Agency, Oriental Hotels, Avenue Supermarts, Jio Financial Services, HDFC Life Insurance Company, HDFC Asset Management Company, Bank of Maharashtra, Hatsun Agro Products, SpiceJet, among others, have already reported their quarter earnings.
Earlier, TCS had posted a profit growth of 9 per cent and HCL Tech had recorded a profit surge of 20.5 per cent on-year.
Anurag Choudhary, CMD & CEO of Himadri Speciality Chemical Ltd, said, “We are pleased to announce our Q1FY25 results, showcasing significant achievements across key metrics. Our sales volumes have grown to 1,39,175 MT from 1,01,030 MT in Q1FY24 registering a growth of 38% and EBITDA & PAT soared by 43% & 41%, reaching Rs.188 crore & Rs 123 crore respectively. A significant milestone is our achievement of becoming debt-free, boasting a positive net cash balance. This accomplishment is a testament to our unwavering commitment to disciplined capital deployment and efficient working capital utilization. Our focus on both profitability as well as a disciplined balance sheet has led to a sustainable ROCE of 28%.
Himadri Speciality Chemical announced that Himadri Clean Energy Limited (HCEL) has informed the company that it has proposed to acquire 100 per cent shareholding of Himadri Green Technologies Innovation Limited to make it a wholly owned subsidiary by entering into a share purchase agreement. The Board of Directors, it added, has considered and approved the proposed acquisition of 100% shareholding of Himadri Green Technologies Innovation Limited by HCEL. On completion of the above acquisitions, Himadri Green Technologies Innovation Limited will become a wholly owned subsidiary of HCEL and a step down wholly owned subsidiary of the Company.
Himadri Speciality Chemical on Tuesday reported its fiscal first quarter profit at Rs 122.62 crore, up 42.3 per cent in comparison to Rs 86.15 crore recorded during the corresponding quarter of FY24. It posted revenue from operations at Rs 1,200.41 crore, up 26.2 per cent as against Rs 950.91 crore reported during the first quarter of previous financial year. The company EBITDA stood at Rs 192 crore, up 43.3 per cent on-year.
“We reaffirm our expectation of witnessing improvements in all three business segments in FY25 over FY24. Like last quarter, our key focus remains customer-centricity, ramping up the newly commissioned plants, remaining lean and bringing back the margins to normal levels. We are focused towards keeping the costs in control through our Project Lean and are on track to source renewable energy for our long-term energy requirements, which also underscores our firm commitment towards sustainability & environment. We continue to see increasing utilisation of our newly created plants, and we remain on track with our capex plans towards investing in high-potential product categories to deliver on our bold vision of Pinnacle 345 i.e. 3 times Revenue, 4 times EBIDTA, in 5 years,” the company said.
Jubilant lngrevia Limited posted a profit fall of 15.4 per cent on-year at Rs 48.74 crore for the first quarter of FY25 in comparison to Rs 57.59 crore recorded during the corresponding quarter of previous fiscal year. It posted revenue from operations at Rs 1024.34 crore, down 4.7 per cent as against Rs 1075.02 crore during Q1FY24. The company EBITDA stood at Rs 109.5 crore, down 6.3 per cent on-year.
“We are pleased to announce healthy sequential performance for Q1, on the back of the improving business performance of our Speciality Chemical Business and the positive impact coming from our cost initiatives from the last three quarters," the company said.
Bajaj Auto on Tuesday reported a profit of Rs 1,941.79 crore during the first quarter of FY25, up 18.1 per cent in comparison to Rs 1,644.14 crore during the corresponding quarter of previous fiscal year. It posted revenue from operations at Rs 11,932.07 crore, up 15.7 per cent as against Rs 10,311.91 crore during the first quarter of FY24. The revenue growth was driven by robust vehicle sales and record spares revenue.
The Board of Directors at CRISIL Ltd approved the payment of second interim dividend of Rs 8 per equity share of face value of Re 1 each, for the financial year ending December 31, 2024, which will be paid on August 12, 2024.
CRISIL Ltd on Tuesday reported its June quarter profit which remained flat at Rs 150.11 crore. It posted revenue from operations at Rs 797.35 crore, up 3.4 per cent as against Rs 771.02 crore during the same quarter of previous year. The company EBITDA stood at Rs 207 crore, up 1.5 per cent on-year.
DB Corp on Tuesday reported its fiscal first quarter earnings with profit at Rs 117.87 crore, up 49.7 per cent in comparison to Rs 78.76 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 589.85 crore, up 6.4 per cent as against Rs 554.20 crore during the first quarter of previous financial year. The company EBITDA stood at Rs 165 crore, up 42 per cent on-year.
While its printing, publishing and allied business reported a revenue of Rs 551.64 crore during Q1, the radio business recorded Q1 revenue at Rs 38.64 crore.
InCred Equities said, “We continue to appreciate the strong scheme-wise delivery provided by the company which, in turn, resulted in a surge in equity funds’ AUM and an improvement in market share for the AMC. This will also support yields and profitability in the coming quarters. However, post recent rise, we believe that most positives are already factored in the stock price and there is a limit to further upside. We feel that other AMC stocks offer a better risk-reward ratio.”
HDFC Asset Management Company Limited reported a 26.4 per cent on-year growth in profit at Rs 603.76 crore in comparison to Rs 477.41 crore in the same period of last year. It posted revenue from operations at Rs 775.24 crore, up 34.9 per cent as against Rs 574.54 crore reported during Q1FY24.
Analysts at Motilal Oswal Financial Services Ltd said, “We have raised our APE growth estimates but lowered our VNB margin assumptions, based on the Q1 performance and guidance. We now estimate HDFC Life to deliver an ~18% VNB CAGR over FY24-26 and steady margin in the range of 25-26%.”
HDFC Life Insurance Company reported its fiscal first quarter profit at Rs 478.97 crore. This was 14.9 per cent higher than Rs 416.71 crore recorded during the corresponding quarter of previous year. The company’s net premium income for the quarter stood at Rs 12,548.42 crore. HDFC Life’s annualised premium equivalent (APE) came in at Rs 2,866 crore for the quarter.
On Monday, Jio Financial Services announced its fiscal first quarter earnings with a profit drop of 6% year-on-year. The profit for the quarter stood at Rs 313 crore. The company’s total income was at Rs 417.82 crore, compared to Rs 414.13 crore during the first quarter of previous fiscal year.
The previous week, HCL Technologies reported its Q1FY25 profit at Rs 4,257 crore, up 20.5 per cent from Rs 3,534 crore in Q1FY24. The revenue for the quarter came in at Rs 28,057 crore. The company also declared an interim dividend of Rs 12 per equity share of Rs 2 face value for FY25. HCL Tech retained its YoY revenue guidance for FY25 at 3-5 per cent in constant currency terms and its operating margin around 18-19 per cent.
On Thursday, Tata Consultancy Services (TCS) announced its fiscal first quarter earnings with profit at Rs 12,040 crore, compared to Rs 11,120 crore reported in the same quarter last year. This was 9 per cent higher than Q1FY24. It posted revenue from operations at Rs 62,613 crore for the April-June period, up 5.4 per cent on-year. The company’s total contract value (TCV) for Q1FY25 stood at $8.3 billion, which is down from the previous quarter's record of $13.2 billion. The management attributed this drop to timing issues, and stated that several deal closures are expected to spill over into Q2.
The Q1 earnings season started with IT majors TCS and HCL Tech releasing their quarter numbers on July 11 and July 12. Besides these, others like Tata Elxsi, Anand Rathi Wealth, Oriental Hotels, Avenue Supermarts, Jio Financial Services, HDFC Life Insurance Company, HDFC Asset Management Company, Bank of Maharashtra, Hatsun Agro Products, SpiceJet, among others have already posted their Q1FY25 earnings.
Today, Today, companies like Bajaj Auto, L&T Finance, CRISIL, Century Textiles and Industries, Just Dial, BMW Industries, Aditya Birla Money, Jubilant Ingrevia, Just Dial, Network 18 Media & Investments, TV18 Broadcast, among a few others, will announce their earnings.
Stay tuned.