Q1 Results 2024: With many majors like Tata Consultancy Services (TCS), HCL Technologies, Infosys, Wipro, Tech Mahindra, Infosys, Nestle India, HUL, Nestle, Adani Wilmar, GCPL, Reliance Industries, IOCL, HPCL, Bharti Airtel, HDFC Bank, SBI, Paytm, Vedanta, TVS Motor, M&M, Tata Motors, Maruti Suzuki, BSE Limited, and many others already having released their Q1 results, the first quarter earnings season is now in full swing.
Today, many others like Life Insurance Corporation of India, Biocon, ABB India, Eicher Motors, Oil India, Cochin Shipyard, Steel Authority of India, MRF, Page Industries, Global Health, Alembic Pharmaceuticals, Minda Corporation, Rail Vikas Nigam, KPI Green Energy, Birla Corporation, Eureka Forbes, Healthcare Global Enterprises, Ajmera Realty and Infra India, Khadim India Limited, over 150 others are to release their quarter results.
This weekend too will be in focus with market participants and investors keen on the performance of players like Aurobindo Pharma, APL Apollo Tubes, Reliance Communications, Finolex Cables, Metropolis Healthcare, Stove Kraft, Kamdhenu Ventures, TVS Electronics, and over 100 companies are to announce their Q1 numbers.
The company board also declared an interim dividend of Rs 10.66 per share i.e. 533 per cent on 21,19,08,375 equity shares of face value of Rs 2- each fully paid up for the financial year 2024. “The interim dividend will be paid on or before September 5, 2024 to the equity shareholders of the company, whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on Friday, August 23, 2024,” ABB India said in a regulatory filing.
Sanjeev Sharma, Managing Director, ABB India, said, “We are pleased to announce yet another quarter and half-year of solid profitable growth. Our track record of consistent double-digit revenue and margin growth, and a strong order backlog is testimony to the robust performance of all our division teams, the trust of our customers, and the steadfast support of our channel partners. We continue to focus on diversifying our offerings across the market segments and making strategic investments to capitalize on market opportunities. The positive market momentum and the national focus on energy transition and infrastructure bodes well with ABB India‘s energy efficiency portfolio, allowing us to leverage the momentum to make inroads and strengthen our offerings in this space.”
ABB India Limited on Thursday posted its fiscal first quarter profit at Rs 443.49 crore, up 50.0 per cent in comparison to Rs 295.63 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 2,830.86 crore, reporting an increase of 12.8 per cent as against Rs 2,508.63 crore during the same period of previous fiscal year. The company EBITDA stood at Rs 542.5 crore.
Cochin Shipyard Ltd on Thursday reported its fiscal first quarter earnings wherein it posted profit for the period at Rs 174.24 crore, recording a growth of 76.6 per cent in comparison to Rs 98.65 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 771.47 crore, up 62.1 per cent as against Rs 475.86 crore during the same period of previous fiscal year. The company EBITDA came in at Rs 177.3 crore.
Munjal Auto Industries Ltd on Thursday posted its fiscal first quarter earnings with profit at Rs 11.71 crore, posting a growth of 18.6 per cent in comparison to Rs 9.87 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 509.92 crore, marginally higher than Rs 508.58 crore recorded during the same period of previous year. The company EBITDA stood at Rs 29.8 crore, up 21.1 per cent on-year.
Carysil board approved the re-appointment of Chirag Parekh as Chairman & Managing Director of the company on the recommendation of the Nomination and Remuneration Committee, for a period of 3 years w.e.f. November 01, 2024 to October 31, 2027.
The company also approved the appointment of Rhea Parekh from Manager (International Marketing) to Vice President (International Marketing) with effect from November 01, 2024. Manish Thakkar was appointed as Director (Operations) from Senior Vice President (Operations) with effect from August 08, 2024. Mitesh Chauhan was appointed from Vice President (International Sales) to Director (International Sales) with effect from August 08, 2024. And Shrenik Chopra from Vice President (Exports) to Director Sales (Exports) with effect from August 08, 2024.
Carysil Ltd on Thursday recorded a profit of Rs 15.86 crore during the first quarter of FY25, posting a growth of 36 per cent in comparison to Rs 11.66 crore during the corresponding period of FY24. It posted revenue from operations at Rs 201.20 crore, up 42.0 per cent as against Rs 141.67 crore during the same period of previous fiscal year. The company EBITDA stood at Rs 36 crore, up 37 per cent YoY.
Astral Ltd on Thursday reported its fiscal first quarter profit at Rs 120.40 crore, marginally higher than Rs 119.80 crore recorded during the corresponding quarter of FY24. It posted revenue from operations at Rs 1383.60 crore, up 7.8 per cent as against Rs 1283.10 crore during the same period of previous financial year. The company EBITDA stood at Rs 213.8 crore, up 5.9 per cent YoY.
The company board declared the first interim dividend for FY25 of Rs 300 per equity share. The record date fixed for the payment of interim dividend is 17 August 2024. The date fixed for payment of dividend is on or before 6 September 2024, it said in a regulatory filing.
VS Ganesh, Managing Director, Page Industries Limited, said, “I am pleased to announce that our dedicated efforts to enhance the inventory health of our distributors have significantly boosted the overall efficiency of our business. We have successfully maintained strong operating margins while simultaneously advancing several digital transformation initiatives, enhancing consumer engagement, and investing in technology. Our exciting expansion and developments in the e-commerce space continue to drive substantial growth in this channel. We remain optimistic about the resurgence of demand in the upcoming quarters and are well-prepared to capitalize on it.”
Jockey India licensee Page Industries on Thursday posted its fiscal first profit at Rs 165.22 crore, reporting a growth of 4.3 per cent in comparison to Rs 158.36 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 1277.52 crore, up 3.9 per cent as against Rs 1229.07 crore during the same period of previous financial year. The company EBITDA was at Rs 243.3 crore, up 2 per cent YoY.
Sales volume, the company said, grew by 2.6 per cent YoY, amounting to 57.4 million pieces.
Ashok Minda, Chairman and Group CEO, Minda Corp, said, “The first quarter of FY25 began on a positive note with overall demand rising across most vehicle segments, year-on-year basis. Through our focus on key initiatives, financial prudence, and commitment to excellence, we are well positioned to surpass industry expectations. We aim for steady growth in our current businesses while expanding our reach through increased exports and a larger customer base. Our dedication to delivering high-quality products and solutions ensures that we consistently meet and exceed customer expectations.”
Minda Corporation Ltd on Thursday posted its fiscal first quarter profit at Rs 64.20 crore, up 42 per cent in comparison to Rs 45.21 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 1192.39 crore, up 11 per cent as against Rs 1074.51 crore during the same period of previous fiscal year. This performance, the company said, is attributed to robust product portfolio, an expanding customer base and focus on product premiumisation. The company EBITDA stood at Rs 132 crore, up 15.3 per cent YoY.
Rail Vikas Nigam Limited (RVNL) on Thursday posted its fiscal first quarter profit at Rs 223.92 crore, posting a decline of 34.7 per cent in comparison to Rs 343.09 crore during the first quarter of previous fiscal year. It reported revenue from operations at Rs 4,073.80 crore, down 26.9 per cent as against Rs 5,571.57 crore during the same period of FY24. The company EBITDA stood at Rs 182 crore, down 48 per cent YoY.
BN Kalyani, Chairman & Managing Director, Bharat Forge, said, “Steady execution of the Defence export orders and recovery in the Oil & Gas business sustained the operating performance. The group secured new orders worth Rs 980 Crores across Defence, Ferrous & Aluminum castings and the core forging business. BFL group’s defence business posted revenue of Rs 642 Crore in Q1 registering a jump of 147% YoY. With order wins of Rs 775 Crores, the executable order book as of June 30th stands at Rs 5,400 Crores, with a mix of Artillery Guns, vehicles and consumables.
JS Auto continued to witness strong momentum and during the quarter recorded revenue of Rs 159 Crore and EBITDA at Rs 22 Crores and PBT of Rs 10 Crores, growth of 26%, 48% and 89% respectively vs Q1 FY24. As the company embarks on various productivity and cost improvement measures, we expect the operating profitability amply supported by organic sales growth to improve over the next 24 – 36 months. The Overseas operations recorded sales of Rs 1,320 Crores and EBITDA of Rs 13 Crores. The weak CV demand in Europe was a spoiler in an otherwise stable quarter for the overseas operations.
Looking ahead into Q2 FY25, we expect continued positive momentum in the Indian entities across Forging, castings & Defence and for the overseas operations, we reiterate our expectation that these businesses will see an improvement in operational parameters resulting in reduction of losses in FY25.”
Bharat Forge Ltd on Thursday reported its fiscal first quarter profit at Rs 174.58 crore, down 18.3 per cent in comparison to Rs 213.73 crore during the first quarter of FY24. It posted revenue from operations at Rs 4106.15 crore, reporting a growth of 5.9 per cent as against Rs 3877.27 crore during the corresponding quarter of previous year. The company recorded a one-time loss at Rs 146 crore.
Sunil Nair, CEO & Whole Time Director, Snowman Logistics Limited, said, “I am happy that we had consistent performance in generating revenue, and as per expectations. Our projects at Lucknow and Kolkata are almost at finishing stage and should be functional in Q2 and Q3 respectively. At the same time we will be making 35 new trucks operational in Q3.”
The company board has declared its first interim dividend of Re 1 per equity share of the company at the face value of Rs 10 each fully paid-up, for the financial year 2024-25. The board has fixed August 21 as the record date for the purpose of ascertaining the eligibility of shareholders for payment of first interim dividend.
Snowman Logistics Ltd on Thursday reported its fiscal first quarter profit at Rs 1.79 crore, posting a growth of 47.0 per cent in comparison to Rs 3.38 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 140.23 crore, up 8.9 per cent as against Rs 128.77 crore during the same period of previous fiscal year. The company EBITDA stood at Rs 23 crore, down 6.5 per cent YoY.
MRF Ltd on on Thursday reported its fiscal first quarter earnings wherein it posted profit for the period at Rs 571.02 crore, posting a decline of 3 per cent in comparison to Rs 588.75 crore during the corresponding quarter of previous fiscal year. It posted revenue from operations at Rs 7196.45 crore, up 11.7 per cent as against Rs 6440.29 crore during the same period of FY24.
Unichem Laboratories Ltd on Thursday recorded a profit of Rs 9.26 crore during the first quarter of FY25 in comparison to a loss of Rs 0.67 crore reported during the corresponding quarter of FY24. It posted revenue from operations at Rs 446.43 crore, up 5.5 per cent as against Rs 423.19 crore during the same period of previous financial year. The company EBITDA was up 59.6 per cent YoY at Rs 43.4 crore.
Alembic Pharmaceuticals Ltd on Thursday reported its fiscal first quarter profit at Rs 134.54 crore, up 11.6 per cent in comparison to Rs 120.60 crore during the same period last year. It posted revenue from operations at Rs 1561.73 crore, up 5.1 per cent as against Rs 1486.15 crore during the first quarter of FY24. The company EBITDA stood at Rs 236.8 crore, up 19.1 per cent on-year.
Dhaval Ajmera, Director, Ajmera Realty & Infra India Limited, said, “In Q1 FY25, Ajmera Realty continued its robust growth momentum with a stellar performance across all financial metrics, driven by strong sales growth and excellent collection efficiencies across all projects. This growth trajectory is a testament to the company’s coveted launch pipeline and paves the way further towards our full year guidance. Given the powerful tailwinds fanning buoyancy in demand across the sector, along with favorable government policies boosting domestic sales and inclination from NRIs and overseas institutional investors, the industry is witnessing an active growth fuelled by end-users driven demand. We are banking on this opportunity and look forward to leveraging this to drive high-octane growth for the company. With an estimated Gross Development Value (GDV) of about Rs 4,270 crore spread across 7 projects, we are bullish about achieving our goals and look forward to a promising year ahead.”
Ajmera Realty & Infra India Ltd on Thursday reported its fiscal first quarter earnings wherein it posted profit for the period at Rs 31.43 crore, up 49.2 per cent in comparison to Rs 21.07 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 193.73 crore, up 66.9 per cent as against Rs 116.05 crore during the same period of previous fiscal year. The company EBITDA grew by 74 per cent YoY to Rs 64.7 crore.
Sales value, it said, grew by 36 per cent YoY in Q1FY25, increasing to Rs 306 crore from Rs 225 crore in Q1FY24, which was buoyed by the successful launch of Ajmera Vihara at Bhandup and sustained sales of Ajmera Manhattan Ajmera Prive and Ajmera Greenfinity AB.
Collections, meanwhile, remained healthy in Q1 with a 49 per cent YoY growth, surging to Rs 165 crore.
A report by Elara Securities stated, “Fortis Healthcare (FORH IN) Q1FY25 results surpassed our estimates with revenue and EBITDA coming in 6-7% higher. The beat was driven by the hospitals segment that grew revenue and EBITDA by 14.5% YoY and 39.1% YoY, respectively. This was offset by the miss in the Agilus Diagnostics business, which saw an EBITDA decline of 17.2% YoY.”
Revenue growth in the hospitals segment, it said, came from better occupancy as well as better growth in average revenue per operating bed (ARPOB). “Management has guided 200bp improvement in EBITDA margin in FY25; we remain conservative and project only 130bp expansion in FY25E. Management has reiterated its target to reach 6,000 beds by FY28,” it added.
The report further stated that the diagnostics business, Agilus Diagnostics, has taken a hit for the past few quarters by the change in brand name, additional marketing expenses related to that and provisions related to the Mohalla Clinic contracts at Delhi. “We see signs of bottoming and expect improvement in the business in the next 2-3 quarters,” it said.
The company board approved and declared an interim dividend at 4 per cent i.e. Re 0.20 per equity share having face value of Rs 5 each, on the equity share capital of the company for the financial year 2024-25. The Record date for payment of this interim dividend is August 21, 2024, it said.
KPI Green Energy Ltd on Thursday reported its fiscal first quarter earnings wherein it posted profit for the period at Rs 66.11 crore, up 98.8 per cent in comparison to Rs 33.26 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 348.01 crore, up 83.8 per cent as against Rs 189.36 crore during the same period of previous financial year. The company EBITDA stood at Rs 131.7 crore, up 91 per cent YoY.
The company board has declared an interim dividend @200 per cent i.e. Rs 4.00 per equity share of Rs 2 each of the company, and fixed September 1, 2024 as the record date for payment of interim dividend.
Nava Limited on Thursday posted its fiscal first quarter earnings with profit at Rs 355.65 crore, reporting a growth of 36.2 per cent in comparison to Rs 261.06 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 1222.37 crore, up 17.3 per cent as against Rs 1042.28 crore during the same period of previous fiscal year. The company EBITDA was up 10 per cent YoY at Rs 589 crore.
“Revenue and profitability growth were aided by excellent operational performance of all power plants aided by bilateral contracts and higher merchant tariffs,” the company said.