Q1 Results 2024: With many biggies like Tata Consultancy Services (TCS), HCL Technologies, Infosys, Wipro, Tech Mahindra, Jio Financial Services, Nestle India, HUL, Nestle, Adani Wilmar, HPCL, HDFC Bank, Axis Bank, SpiceJet, L&T, IGL, Infosys, Colgate Palmolive (India), Paytm, CEAT, DLF, and many others already having released their Q1 results, the first quarter earnings season is now in full swing.
Today is another busy day for market participants with many companies like Indian Oil Corporation, Varun Beverages, GAIL India, TATA Consumer Products, Torrent Power, Jindal Stainless, Exide Industries, Ajanta Pharma, Castrol India, Indiamart Intermesh, Vardhman Textiles, Force Motors, Sapphire Foods India, Johnson Controls -Hitachi Air Conditioning India, Modi Naturals, among others slated to announce their Q1 results.
The fiscal first quarter earnings season will continue till around August 14.
Kamal Singal, Managing Director and CEO, Arvind SmartSpaces, said, “We have started the year on a healthy note with progress in bookings, collections and business development, setting a positive trajectory for the year ahead. Q1FY25 Bookings improved by 49% YoY to Rs. 201 Cr and Collections improved by 21% to Rs. 248 Cr. Our operations cycle remains strong with net operating cash flows of Rs. 97 Cr during the quarter. During the quarter, we added a combined topline of Rs. 410 Cr across two of our existing projects namely Forest Trails and Uplands 2.0 & 3.0. We believe the overall residential markets remain quite healthy given cyclically low inventory levels and healthy affordability. The remainder of the year should witness a strong uptick in our performance with a robust launch and business development pipeline for the upcoming quarters.”
Arvind SmartSpaces Ltd on Tuesday recorded a profit decline of 63.7 per cent during the first quarter of FY25 at Rs 2.92 crore in comparison to Rs 8.04 crore posted during the corresponding quarter of FY24. It posted revenue from operations at Rs 74.47 crore, up 11.4 per cent as against Rs 66.84 crore during the same period last year. The company EBITDA stood at Rs 8.9 crore, down 66 per cent on-year.
While the company reported bookings growth by 49 per cent YoY at Rs 201 crore, collections increased by 21 per cent on-year at Rs 248 crore.
Johnson Controls-Hitachi Air Conditioning India Ltd on Tuesday posted its fiscal first quarter profit at Rs 36.15 crore in comparison to a loss of Rs 41.02 crore recorded during the corresponding quarter of FY24. It posted revenue from operations at Rs 995.96 crore, posting a growth of 75.6 per cent as against Rs 567.18 crore during the same period last year. The company EBITDA stood at Rs 56.6 crore vs EBITDA loss of Rs 36 crore YoY.
Sandeep Sangwan, Managing Director of Castrol India Limited, said, “We are proud of our strong second-quarter performance, driven by product launches like the Castrol EDGE range and marketing campaigns featuring Shah Rukh Khan. Our balanced focus on volumes and margins, along with our commitment to innovation and brand building, has driven revenue growth. As we celebrate 115 years in India, we remain dedicated to delivering innovation, performance, reliability, and protection. Notably, our presence in major sports properties like the IPL,T20 World Cup, and Wimbledon underscores our strong brand visibility.”
The company declared an interim dividend of Rs 3.50 per equity share of Rs 5 each for the financial year ending 31 December 2024. It said that the record date for reckoning the list of shareholders who shall be entitled to receive the said interim dividend shall be 7 August 2024. The interim dividend will be paid to such shareholders on or before 28 August 2024.
Castrol India on Tuesday recorded fiscal first quarter profit at Rs 232.17 crore, up 3.1 per cent in comparison to Rs 225.27 crore recorded during the corresponding quarter of FY24. It posted revenue from operations at Rs 1397.54 crore, up 4.8 per cent as against Rs 1333.76 crore during the same period last year. The company EBITDA stood at Rs 322.4 crore, up 4.1 per cent.
Ajanta Pharma Ltd on Tuesday posted a profit growth of 18.1 per cent for the first quarter of FY25 at Rs 245.77 crore in comparison to Rs 208.12 crore recorded during the corresponding quarter of FY24. It posted revenue from operations at Rs 1144.92 crore, up 12.1 per cent as against Rs 1021.04 crore during the same period last year. The company EBITDA stood at Rs 330.3 crore.
The Nomination & Remuneration Committee of the Board has also allotted 24,325 fully paid-up equity shares of Rs 2 each issued upon exercise of options. “In view of the above, the paid-up capital of the company stands increased to Rs 24,98,24,198 consisting of 12,49,12,099 equity shares of Rs 2 each,” it said in a regulatory filing.
Indiamart Intermesh Ltd on Tuesday posted its fiscal first quarter profit at Rs 114.00 crore, up 37.2 per cent in comparison to Rs 83.10 crore recorded during the first quarter of FY24. It posted revenue from operations at Rs 331.30 crore, posting a growth of 17.4 per cent as against Rs 282.10 crore during Q1FY24. The company EBITDA stood at Rs 119 crore, up 55 per cent on-year.
Petroleum Products: Rs 2,06,442.54 crore
Petrochemicals: Rs 6,789,42 crore
Other Businesses: 11,462.83 crore
Indian Oil Corporation Ltd on Tuesday posted its fiscal first quarter earnings with profit during the quarter at Rs 3,722.63 crore, recording a drop of 74.7 per cent in comparison to Rs 14,735.30 crore during the same period of previous year, missing estimates. It posted revenue from operations at Rs 2,19,864.34 crore, down 2.5 per cent as against Rs 2,25, 410.49 crore reported during the corresponding quarter of FY24. According to a CNBC TV18 poll, Indian Oil was expected to record Q1 profit at Rs 3,856 crore and revenue for the quarter was estimated at Rs 2.07 lakh crore.
In Q1FY25, the company added 13 KFC and 1 Pizza Hut restaurants in India. Sapphire Foods total restaurant count is 886 as on 30th June 2024.
Sapphire Foods India Ltd on Tuesday posted its fiscal first quarter earnings with profit at Rs 8.52 crore, down 65.8 per cent in comparison to Rs 24.94 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 718.29 crore, up 9.8 per cent as against Rs 654.38 crore during the first quarter of previous financial year. The company EBITDA stood at Rs 124 crore, up 3.3 per cent on-year.
The company said that its Q1FY25 consolidated restaurant sales was at 716.50 crore, up 10 per cent. “Discretionary consumer spends seem to be subdued and similar to past few quarters trend. Sapphire KFC was impacted by the shift in the dates of the Navratra Festival compared to last year, while product and marketing interventions have led to improvements in the performance of both Sapphire Pizza Hut and Sri Lanka business,” it said.
Exide Industries Ltd on Tuesday posted consolidated profit for the first quarter of FY25 at Rs 220.06 crore, down 1 per cent in comparison to Rs 222.31 crore recorded during the corresponding quarter of previous financial year. It posted revenue from operations at Rs 4,435.71 crore, up 4.5 per cent as against Rs 4,245.48 crore during the same period last year. The company said that the revenue increase was driven by volume growth across business verticals.
Varun Beverages announced the payment of interim dividend of Rs 1.25 per Equity Share for the Financial Year 2024 on the total issued, subscribed and paid-up 129,94,48,412 Equity Shares of the nominal value of Rs5 each. The interim dividend will be paid on and from Tuesday, August 13, 2024, the company said.
Ravi Jaipuria, Chairman, Varun Beverages Limited, said, “We are pleased to report robust performance for the second quarter of CY2024, achieving a consolidated sales volume growth of 28.1%, which includes volumes from BevCo. The impressive volume growth of 22.9% in India primarily contributed to this outstanding performance, supported by our expanded capacities, enhanced distribution network, and a strong summer season. Meanwhile, our international markets remained relatively flat, moreover it was a seasonally weak quarter for the African market.”
“We are excited to announce further expansion in our partnership with PepsiCo, having entered into an Exclusive Snacks Franchising Appointment to manufacture, distribute, and sell "Simba Munchiez" in Zimbabwe by October 2025 and in Zambia by April 2026. This follows our recent announcement to manufacture and package Cheetos in Morocco by May 2025. These agreements complement our existing distribution of PepsiCo’s portfolio, marking another significant step forward in our strong, symbiotic partnership,” he added.
PepsiCo bottler Varun Beverages on Tuesday recorded its June quarter profit at Rs 1252.60 crore, up 26 per cent in comparison to Rs 993.81 crore posted during the same quarter of previous year. It posted revenue from operations at Rs 7333.67 crore, up 28.7 per cent on-year as against Rs 5699.73 crore reported during the corresponding quarter of CY23. The company EBITDA stood at Rs 1,991 crore, up 31.8 per cent YoY.
Varun Beverages recorded consolidated sales volume growth of 28.1 per cent to 401.6 million cases in Q2 CY2024 from 313.5 million cases in Q2 CY2023. This includes around 28 million cases from BevCo during the quarter.
The company’s India volumes grew by 22.9 per cent while International volumes (before BevCo volumes) was almost flat primarily on account of volumes in Zimbabwe getting affected due to portfolio transition to zero sugar without affecting profits.
Dr Krishna Prasad Chigurupati, Chairman & Managing Director, Granules India Limited, said, “With our robust quarterly performance, we are back on our planned trajectory after a few setbacks last year. Q1 performance highlights include continued growth in our formulation segment, strong North America business, and product diversification, which offset the Paracetamol API/PFI decline, promising a brighter future driven by our formulations offering and new product pipeline.”
Granules India on Tuesday posted its fiscal first quarter earnings with a profit jump of 181.1 per cent at Rs 134.65 crore as against Rs 47.90 crore recorded during the same quarter of previous financial year. It posted revenue from operations at Rs 1179.87 crore, posting a growth of 19.7 per cent in comparison to Rs 985.52 crore during the first quarter of FY24. The company EBITDA stood at Rs 259.2 crore, up 89.5 per cent YoY.
Meanwhile, revenue share from North America increased to 74 per cent in Q1FY25 as compared to 61 per cent in Q1 FY24. Active Pharmaceuticals Ingredients (API), Pharmaceutical Formulation Intermediates (PFI), and Finished dosages contribute 14 per cent, 10 per cent, and 76 per cent of revenue from operations respectively for Q1FY25, it said.
Bharat Electronics Ltd recorded a profit of Rs 791 crore for the first quarter of FY25, posting a growth of 46.9 per cent on-year in comparison to Rs 538.48 crore during the corresponding quarter of previous financial year. It posted revenue from operations at Rs 4243.57 crore, up 20.1 per cent as against Rs 3532.94 crore during the same period of last year.
The order book position of the company as on 1st July, 2024 stood at Rs 76705 crore.
Manish Mohnot, MD & CEO, KPIL, said, “We have delivered resilient performance in Q1FY25 despite lower manpower availability and delay in collections given typical seasonality and general elections. However, getting in Q2FY25, we have started to see moderation in working capital intensity with improving budgetary allocations. We are confident of achieving our targeted net working capital of below 100 days by the end of FY25.”
“Further, we are pleased with the ordering momentum, which is reflected from the fact that in the first four months of FY25 itself, our order inflows including L1 has reached over Rs.12,000 Crores. More importantly, most of the new orders secured are in the T&D and B&F business, which are at better margin and in-line with our focus to improve profitability going forward. With our strong order backlog, execution prowess and financial prudence, we are well-positioned to deliver the targeted annual revenue growth of 20% for FY25.”
The company received additional new orders worth Rs 838 crore in July 2024. Order inflows, it added, have reached Rs 7,015 crore till date in FY25. Order book was at Rs 57,195 crore as on 30 June 2024, up by around 21 per cent YoY.
Kalpataru Projects International Ltd reported its fiscal first quarter profit at Rs 93 crore, down 19.1 per cent in comparison to Rs 115 crore recorded during the corresponding quarter of FY24. It posted revenue from operations at Rs 4,587 crore, up 8.2 per cent on-year as against Rs 4,241 crore during the same period of previous year. Kalpataru Projects said that the revenue growth was driven by power transmission & distribution (T&D) and buildings & factories (B&F) business on back of strong order backlog and diversified project mix.
The company EBITDA stood at Rs 378 crore, down 1 per cent on-year.
Amnish Aggarwal, Director - Research, Prabhudas Lilladher Pvt Ltd, said, “CLGT delivered yet another strong quarter with pick up in volumes resulting in ~8% toothpaste volume growth and double-digit sales growth across all segments. 220bps expansion in Gross margins and 40bps decline in Ad spends resulted in 240bps expansion in EBIDTA margins to 34%. Core portfolio led by Colgate strong teeth, Active salt and total reported strong growth supplemented by double-digit sales growth in toothbrush after several quarters. Incremental pricing actions remained limited in view of benign pricing which helped improve consumer value. We increase our FY25/26/27 estimates by 5.5%/4%/4.6% on pick up in volumes led by rural demand revival, low volume base and benefit of benign raw materials. CLGT continues to focus on 1) driving toothpaste category penetration and twice a day usage in urban India 2) science-based innovations with Total and Colgate strong teeth 3) build personal care portfolio in body/hand/face wash and 4) increasing usage of toothbrush by reducing the replacement cycle. We expect margin expansion to slow down in coming quarters given a base of 32.8, 33.6 and 35.7 in 2Q/3Q/4Q versus 31.6% in 1Q25. We estimate 10.2% EPS CAGR over FY24-26.”
Ajay Kapur, CEO – Cement Business, Adani Group, said, “ACC’s performance strengthens our drive to consistently stay a frontrunner in the industry. Our performance this quarter exemplifies our efficiency and agility. Our strategic decisions, customer-centric approach, and operational excellence continue to drive growth. As we move forward, we remain committed to delivering value to our stakeholders in a sustainable manner.”
Adani Group-owned ACC Limited released its fiscal first quarter earnings. It posted Q1 profit at Rs 361.35 crore, down 22.5 per cent in comparison to Rs 466.10 crore recorded during the corresponding quarter of FY24. It posted revenue from operations at Rs 5154.89 crore, marginally lower than Rs 5201.11 crore reported during the first quarter of previous fiscal year. The company’s operating EBITDA stood at Rs 679 crore.
ACC Ltd posted volume growth of 9 per cent YoY at 10.2 million T supported by increase in premium products and improvement in efficiency parameters, ensuring market leadership. Kiln fuel cost improved from Rs 2.14 per ‘000 kCal to Rs 1.73 per ‘000 kCal with change of fuel basket and higher consumption of alternative fuels. Thermal value, meanwhile, reduced from 757 kCal to 739 kCal, with further improvement expected in future quarters.
Pfizer Ltd reported its fiscal first quarter earnings with profit at Rs 150.71 crore, up 61.1 per cent in comparison to Rs 93.53 crore recorded during the corresponding quarter of FY24. It posted revenue from operations at Rs 562.86 crore, up 5.9 per cent as against Rs 531.36 crore during the same period of previous financial year. The company EBITDA stood at Rs 177.5 crore, up 60.2 per cent on-year.
Today, companies like Indian Oil Corporation, Varun Beverages, GAIL India, TATA Consumer Products, Torrent Power, Jindal Stainless, Exide Industries, Ajanta Pharma, Castrol India, Indiamart Intermesh, Vardhman Textiles, Force Motors, Sapphire Foods India, Johnson Controls -Hitachi Air Conditioning India, Modi Naturals, among others will announce their Q1FY25 earnings.
Good Morning! We welcome you to this live blog where we bring you all the updates on the first quarter earnings for FY25 slated to announce their Q1 numbers today. We will also analyse these numbers with the help of major brokerage firms and analysts. Stay tuned with FinancialExpress.com.