Q1 Results 2024: Pidilite Industries, Apollo Tyres, BSE, Godfrey Phillips, and over 100 others reporting Q1 earnings today

Rajeev Samant, CEO, Sula Vineyards, said, “We are pleased to report our highest-ever first quarter Revenue, EBITDA, and PAT in Q1FY25. This is despite the significant headwinds we faced during the quarter including the national elections which led to restrictions on AlcoBev movement and several dry days, and secondly the scorching heatwave. Both these factors impacted trade offtake and end consumer demand in Q1. A really encouraging trend for us is that wine drinking is picking up well beyond the metros with states like Telangana, Madhya Pradesh, Uttar Pradesh, Haryana, among others performing strongly for us in Q1. One other positive is ‘The Source’ range, which has been a real standout in the Elite & Premium category, growing by 21% YoY in Q1. One of the initiatives we took in Q1 was adopting a new route-to-market in Maharashtra where we have gone for a third-party sales model for our Economy & Popular brands. This strategy has yielded good results. Overall as we look ahead, we hope to build on our first quarter results and deliver a strong FY25.

BSE on Wednesday recorded Q1FY25 profit at Rs 265 crore, up 253 per cent in comparison to Rs 75 crore during the corresponding period of previous financial year. It posted revenue from operations at Rs 608 crore, up 182 per cent as against Rs 216 crore during the same period of FY24. Consolidated operating EBITDA for the June quarter was up by 306 per cent to Rs 284 crore from Rs 70 crore in previous year, with the EBITDA margin expanding to 47 per cent

“BSE platforms continue to remain the preferred choice by Indian companies to raise capital. BSE platform has enabled issuers to raise Rs 7.7 lakh crore by means of equity and debt, bonds, commercial papers, etc,” it said in a statement.

DCM Shriram Industries Ltd on Wednesday recorded its fiscal first quarter profit at Rs 31.36 crore, up 15.8 per cent in comparison to Rs 27.08 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 553.93 crore, posting a growth of 6.0 per cent as against Rs 522.45 crore during the same period of previous fiscal year. The company EBITDA stood at Rs 62 crore, up 7.3 per cent on-year.

Godrej Consumer Products announced that it has entered into Pet Care business in India through Godrej Pet Care (GPC), a subsidiary of GCPL. It said that pet care is a Rs 5,000 crore category, with a potential of strong double-digit growth for the next few decades. GCPL will invest Rs 500 crore over a period of 5 years in GPC and plans to commence production in the second half of FY 2026.

Sudhir Sitapati, Managing Director and CEO, GCPL, said, “Today, we are announcing the formation of Godrej Pet Care (GPC), a subsidiary of GCPL. Pet foods is already a Rs 5,000 crore category with many decades of late teens growth ahead. To give a perspective, only ~10 per cent of Indians own a pet of which only 10 per cent feed packaged food and that too only 40 per cent of the time. Calorie conversion in India is only 4 per cent. China, which was remarkably similar to India 15 years ago, has 20 per cent pet ownership with a calorie conversion of 25 per cent. While the opportunity is clear, we believe that our right to win as a group is high. GAVL, our group company, is the market leader in animal feed and has a good understanding of pet foods R&D, with competitive advantages in the supply chain. GCPL will invest the entire capital of Rs 500 crore in GPC over a period of 5 years, post which we see GPC becoming cash flow positive. GAVL will be our manufacturing and R&D partner. Lead times to set up capex are long, and we hope to commence manufacturing in the second half of next year.”

Godrej Consumer Products Limited (GCPL) on Wednesday released its fiscal first quarter earnings with profit at Rs 450.69 crore, up 41.4 per cent in comparison to Rs 318.82 crore recorded during the corresponding quarter of FY24, missing estimates. It posted revenue from operations at Rs 3331.58 crore, down 3.4 per cent as against Rs 3448.91 crore during the same period of previous fiscal year. The company EBITDA stood at Rs 724.5 crore.

According to a CNBC TV18 polls, GCPL was expected to record Q1 profit at Rs 475 crore and revenue was estimated at Rs 3485 crore.

The board of the company declared an interim dividend of Rs 6 per equity share (@ 60 per cent on a face value of Rs 10 each) for the financial year 2024-25. The record date for the purpose of payment of interim dividend shall be August 20, 2024.

Bharat Puri, Managing Director, Pidilite Industries Ltd, said, “Despite challenging economic conditions because of election related impact as well as severe heat wave conditions in most parts of the country, we delivered robust UVG as well as healthy profitability in this quarter. Given a healthy monsoon and the ensuing festival season, we remain optimistic on market demand and our ability to deliver robust growths. We will continue to invest in growth facing initiatives as well as building a resilient supply chain.”

Varroc Engineering Ltd on Wednesday recorded a profit of Rs 32.41 crore for the first quarter of FY25, marginally higher than Rs 32.26 crore posted during the corresponding quarter of previous fiscal year. It reported revenue from operations at Rs 1898.85 crore, up 5.2 per cent as against Rs 1805.69 crore during the same period of FY24. The company EBITDA stood at Rs 174 crore, down 4.7 per cent YoY.

Automotive Axles Ltd on Wednesday reported its fiscal first quarter profit at Rs 34.05 crore, down 10 per cent in comparison to Rs 37.83 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 492.47 crore, posting a decline of 7.4 per cent as against Rs 531.91 crore during the same period of previous financial year. The company EBITDA stood at Rs 48.7 crore, down 18.3 per cent on-year.

Talbros Automotive Components Ltd on Wednesday released its fiscal first quarter earnings wherein it posted profit for the period at Rs 20.61 crore, up 18.3 per cent in comparison to Rs 17.42 crore during the corresponding quarter of FY24. It reported revenue from operations at Rs 20,434.67 crore, up 11.8 per cent as against Rs 18,282.62 crore recorded during the first quarter of previous fiscal year. The company EBITDA stood at Rs 28.7 crore, up 14.3 per cent on-year.

Venky's (India) Ltd on Wednesday reported its fiscal first quarter profit at Rs 75.18 crore, posting a growth of 287.3 per cent in comparison to Rs 19.41 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 808.02 crore, down 17.2 per cent as against Rs 976.44 crore during the same period of previous financial year. The company EBITDA stood at Rs 103.3 crore.

“The financial year commenced with moderate growth in the automotive market despite the challenges of a high base from the previous year, a slowdown related to elections and the summer heatwaves. Continued demand in the passenger car segment, coupled with growth in production and wholesale, resulted in growth for Bosch Limited, this quarter. However, retail sales have remained sluggish leading to a rise in the pipeline inventory. Despite the challenges, the overall sentiment in the automotive sector remains positive,” said Guruprasad Mudlapur, President of the Bosch Group in India, and Managing Director, Bosch Limited.

Swarnendu Bhushan, Co. Head of Research - Institutional Equities, PL Capital - Prabhudas Lilladher, said, “TVSL’s Q1FY25 standalone revenue grew by 16% YoY, in line with BBGe, but marginally lower (-1.4%) than PLe. The growth in revenue was driven by 14.1% YoY expansion in volume and 1.7% rise in ASP. Despite a rise in some of the key input costs, gross margin expanded by 316bps YoY to 28.6% led by better product mix, marginal price hike and on cost reduction efforts. Consequently, EBITDA grew by 25.7% YoY, while margin expanded by 88bps YoY to 11.5%. Healthy overall performance drove PAT higher by 23.4% YoY.”

“Going ahead, the management has outlined multiple new launches in EV, ICE and Norton Motorcycles portfolio to increase product offerings across categories. Additionally, TVSL continues to focus on increasing its pan-India presence for EV scooters, which shall pave the way for market share gain and improvement in profitability. Furthermore, it will launch new products in Norton Motorcycles by the end CY25 in Indian and international markets. We change our revenue/EBITDA/EPS estimates by 2-6% over the forecast period factoring in the growth outlook of its businesses,” he added.

Fortis Healthcare reported its first quarter earnings for FY25 on Tuesday with profit at Rs 173.98 crore, up 40.4 per cent in comparison to Rs 123.95 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 1858.90 crore, up 12.2 per cent as against Rs 1657.41 crore recorded during the same period of previous financial year. The company EBITDA stood at Rs 342.5 crore, up 25.7 per cent on-year.

Nilesh Gupta, Managing Director, Lupin Limited, said, “We have had a strong quarter on the back of the momentum we built through FY24, with performance driven by new products, key geographies, and improvement in our operating margin and profitability. We are on track for strong, sustainable growth and margin improvement backed by growth in sales, commercial and operating efficiencies, and a strong compliance story.”