Q1 Results 2024: With many majors like Tata Consultancy Services (TCS), HCL Technologies, Infosys, Wipro, Tech Mahindra, Infosys, Nestle India, HUL, Nestle, Adani Wilmar, Reliance Industries, IOCL, HPCL, Bharti Airtel, HDFC Bank, SBI, Axis Bank, Paytm, Vedanta, TVS Motor, M&M, Tata Motors, Maruti Suzuki, and many others already having released their Q1 results, the first quarter earnings season is now in full swing.
Today, many others like Pidilite Industries, Godrej Consumer Products, NHPC, Abbott India, UNO Minda, Aditya Birla Fashion & Retail, Apollo Tyres, Dr Lal PathLabs, BSE Limited, Radico Khaitan, Godfrey Phillips India, SignatureGlobal India, Welspun Corp, Kirloskar Oil Engines, Happy Forgings, Safari Industries (India), Lemon Tree Hotels, Sula Vineyards, Hindustan Motors, over 100 others are expected to release their quarter results.
This week will be in focus with market participants and investors keen on the performance of players like LIC, Eicher Motors, Biocon, MRF, Info Edge India, Berger Paints India, Metropolis Healthcare, Hindware Home Innovation, Zydus Lifesciences, among many others.
Analysts at InCred Equities said, “Gland Pharma’s Q1FY25 base business (ex-Cenexi) revenue/EBITDA saw a sharp QoQ decline (14%/32%) which were 10%/30% below our/consensus estimates, respectively. Cenexi numbers were in line with our expectations, with revenue at Rs 3.9bn and EBITDA loss at Rs286m. Excluding Cenexi, Gland Pharma or GPL witnessed pressure across geographies, except the US. The US saw a healthy volume share across products as well as a good contribution from new product launches. The decline in the ROW market continued for the fourth straight quarter. Q2 for Cenexi is likely to be impacted by lower activity level due to the European Union holiday and a three-week plant shutdown.”
A report by Anand Rathi Research Team, stated, “With steady oil & gas realisations, ONGC reported in-line Q1 results. Ahead, volumes are likely to recover due to the ramping up of its KG98/2 field. We prefer upstream companies, given greater clarity on oil & gas realisations along with volume growth. We expect crude oil prices at $80-90/bbl as higher supplies from non-OPEC (the US, Guyana, etc.) and weak demand would be counterbalanced by OPEC members’ production cuts. We increase our estimates to factor in changes in HPC’s earnings and reiterate our Buy rating, with a higher TP of Rs405, 4.5x FY26e EV/EBITDA (earlier 4x FY25e) and add the value of investments at a 20% discount to market prices.”
The Board of Bata India declared an interim dividend of Rs 10 (200 per cent) per equity share of Rs 5 each, fully paid-up of the company, for the current financial year ending March 31, 2025. The record date shall be Friday, August 16, 2024 for the purpose of interim dividend, it said.
Gunjan Shah, MD and CEO, Bata India Limited, said, “Bata India navigated well through the slugging consumption environment further accentuated due to the elections and extreme heat wave in the last quarter. We sustained our gross margin with our premiumisation strategy while continuing investments in marketing and technology platforms. We added 33 Franchise Stores in the quarter, primarily in Tier 3- 5 towns to cater the demand for branded products and achieve better returns on capital. Bata also launched its 2nd Power EBO in Delhi. Along with cautious control on costs and focus on efficiency and productivity, we continued to manage our inventory while having strong instore availability of fresh merchandise in anticipation of festive season driven consumption uptick.”
Bata India released its quarter earnings report for FY25 on Tuesday with profit at Rs 174.06 crore, up 62.8 per cent in comparison to Rs 106.89 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 944.63 crore, down 1.4 per cent as against Rs 958.15 crore during the same period of previous fiscal year.
In a statement, Bata India said, “The results for the quarter demonstrate disciplined execution of our strategies on premiumisation, investment in marketing and technology, elevating customer experience, by maintaining gross margins in the face of sluggish consumption momentum during the quarter.”
Today, companies like Pidilite Industries, Godrej Consumer Products, NHPC, Abbott India, UNO Minda, Aditya Birla Fashion & Retail, Apollo Tyres, Dr Lal PathLabs, BSE Limited, Radico Khaitan, Godfrey Phillips India, SignatureGlobal India, Welspun Corp, Kirloskar Oil Engines, Happy Forgings, Safari Industries (India), Lemon Tree Hotels, Sula Vineyards, Hindustan Motors, and over 100 others are to release their quarter results.
With many majors like TCS, HCL Technologies, Infosys, Wipro, Tech Mahindra, Infosys, Nestle India, HUL, Nestle, Adani Wilmar, Reliance Industries, IOCL, HPCL, Bharti Airtel, HDFC Bank, SBI, Axis Bank, Paytm, Vedanta, TVS Motor, M&M, Tata Motors, Maruti Suzuki, and many others already having released their Q1 results, the first quarter earnings season is now in full swing. We are continuously updating you with the latest numbers posted by different companies across sectors.
This live blog too will keep you posted on how the companies performed during the first quarter of FY25. Stay tuned.