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, LIC, 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, others like Siemens, Trent, Zydus Lifesciences, Info Edge India, General Insurance Corporation of India, Alkem Laboratories, Berger Paints India, IRB Infrastructure Developers, Metro Brands, Suven Pharmaceuticals, Inox Wind, Honasa Consumer, MMTC, Shipping Corporation of India, India Cements, Inox India, Hindware Home Innovation, Liberty Shoes, Birla Cable, among 200 others are to release their quarter results.
Companies across sectors will continue to release their quarter numbers this Saturday as well with many like Aurobindo Pharma, APL Apollo Tubes, Reliance Communications, Finolex Cables, Metropolis Healthcare, Stove Kraft, Kamdhenu Ventures, TVS Electronics, and over 100 companies ready to make the announcement tomorrow.
Saurashtra Cement Ltd on Friday recorded a profit drop of 19.3 per cent during the first quarter of FY25 at Rs 9.86 crore in comparison to Rs 12.22 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 385.80 crore, up 13.5 per cent as against Rs 446.11 crore during the same period of previous financial year. The company EBITDA stood at Rs 23.1 crore, down 25.7 per cent on-year.
Shipping Corporation of India Ltd on Friday posted its fiscal first quarter profit at Rs 291.48 crore, reporting a growth of 69.9 per cent in comparison to Rs 171.61 crore during the first quarter of FY24. It posted revenue from operations at Rs 1514.27 crore, up 26.2 per cent as against Rs 1200.11 crore during the corresponding quarter of previous fiscal year. The company EBITDA stood at Rs 509.7 crore, up 40.4 per cent YoY.
Metro Brands Ltd on Friday recorded its fiscal first quarter profit at Rs 92.27 crore, down 1.3 per cent in comparison to Rs 93.50 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 576.08 crore, marginally lower than Rs 582.52 crore reported during the first quarter of previous fiscal year. The company EBITDA stood at Rs 180.4 crore, down 3.3 per cent on-year.
Bajaj Consumer Care Ltd on Friday recorded a profit decline of 19.7 per cent during the first quarter of FY25 to Rs 37.12 crore in comparison to Rs 46.22 posted during the corresponding quarter of FY24. It posted revenue from operations at Rs 245.94 crore, up 9 per cent as against Rs 270.17 crore during the same period of previous financial year. The company EBITDA stood at Rs 36.6 crore, down 23.6 per cent YoY.
Annaswamy Vaidheesh, Executive Chairman, said, “Customer sentiment towards India remains strong, bolstered by supply chain de-risking strategy. This, along with our focus on business development and R&D, has led to a high influx of RFQs. While the Ag Chem segment's recovery has been slower than expected, we continue to anticipate growth in the second half of FY25. We are also pleased to have completed the first phase of our acquisition of Sapala Organics while our proposed merger with Cohance has received approvals from stock exchanges and SEBI and we have filed our petition with the hon’ble NCLT.”
Dr V Prasada Raju, Managing Director, added, “In Q1FY25, we sustained higher inflows of RFQs, with a healthy mix of lateral and mid-phase projects. Our business development efforts have secured new customer RFQs across the US, EU, and Japan. Additionally, our R&D engagement is deepening, with RFQs in new categories. We continue on our path to meet the aspiration of organically doubling the combined business over the next five years with M&A activities accelerating growth beyond that.”
Suven Pharmaceuticals on Friday recorded fiscal first quarter profit at Rs 60.77 crore, posting a decline of 49.6 per cent in comparison to Rs 120.60 crore during the same period of previous financial year. It posted revenue from operations at Rs 230.69 crore, down 33.6 per cent as against Rs 347.55 crore during the same period of FY24. The company EBITDA stood at Rs 79.9 crore, down 52.4 per cent.
The India segment reported revenue from operations at Rs 1439.60 crore, up 9.9 per cent mainly driven by 8.5 per cent growth in Domino’s India. Domino’s LFL came in at 3.0 per cent with Domino’s Delivery LFL at 12.1 per cent. A total of 52 net stores were added across all brands in India, it said.
Under international segment, in Turkey, Azerbaijan and Georgia, Domino’s system sales came in at Rs 715.10 crore. Domino’s Turkey LFL growth was 10.3 per cent. COFFY’s system sales came in at Rs 65.70 crore and Coffy LFL growth was 8.7 per cent. The revenue from operations came in at Rs 461.40 crore. EBITDA margin came in at 25.0%. PAT margin was strong at 9.2%. Revenue from Domino’s Bangladesh came in at Rs 17.0 crore, up by 42.2 per cent on the back of accelerated network expansion. Revenue from Domino’s Sri Lanka came in at Rs 17.40 crore, up by 17.0 per cent. A total of 14 net stores were added across all international markets.
Shyam S Bhartia, Chairman and Hari S Bhartia, Co-Chairman, Jubilant FoodWorks Limited, said, “We achieved solid first quarter results, with broad based growth across markets led by healthy LFL and store growth. We also celebrated network milestones of crossing 3,000 stores at a Group level and setting a new record of operating 2,000+ Domino’s stores in India. India business growth in particular, accelerated with a sharpened value for money focus in Domino’s, through delivery fee waiver well supported by continued network expansion. We remain on track to become India’s first foodservice Company to cross $1 bn in group system sales.”
Jubilant FoodWorks Ltd on Friday recorded a profit of Rs 58.02 crore during the first quarter of FY25, posting a jump of 100.6 per cent in comparison to Rs 28.92 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 1933.06 crore, up 44.8 per cent as against Rs 1334.54 crore during the same period of previous financial year. The company EBITDA stood at Rs 383.10 crore.
Varun Alagh, Chairman and CEO, Honasa Consumer Limited, said, “Reflecting on the highlights of Q1 FY25, we are delighted to report that Honasa has demonstrated remarkable resilience and growth this quarter, underscored by a strong operating performance and improved profitability. Mamaearth continues to win consumer love, driving offtakes and securing a position as the fourth largest face wash brand in modern trade according to Nielsen. Honasa has also captured a strong market share in the face wash category online while steadily gaining ground offline, driven by its House of Brands strategy and innovation capabilities.”
“By leveraging our unique House of Brands strategy, purpose-driven approach, and strong emphasis on R&D and innovation, we are determined to solidify our leadership in the ever-evolving BPC FMCG segment,” he added.
Mamaearth parent Honasa Consumer Ltd on Friday reported its fiscal first quarter profit at Rs 40.26 crore, recording a growth of 62.9 per cent in comparison to Rs 24.72 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 554.06 crore, up 19.3 per cent as against Rs 464.49 crore during the same period of previous financial year. The company EBITDA stood at Rs 46.1 crore, up 57.9 per cent YoY.
The company board declared an interim dividend of Rs 2 per equity share (20 per cent) of face value of Rs 10 each for financial year 2024-2025. The record date for the payment of interim dividend is Friday, 23rd day of August, 2024. The interim dividend will be paid on or from August 28, 2024,it said.
Insecticides (India) Ltd on Friday reported its fiscal first quarter profit at Rs 49.01 crore, posting a growth of 68.2 per cent in comparison to Rs 29.14 crore during the same period of previous fiscal year. It posted revenue from operations at Rs 656.69 crore, up 2.6 per cent as against Rs 639.95 crore during the corresponding quarter of FY24. The company EBITDA stood at Rs 71.5 crore, up 56.8 per cent YoY.
Virendra D Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Limited, said, “Promising start for FY25 with the continued robust momentum in toll collection, especially with the newly added assets to the portfolio. In line with the robust GDP forecast, the government’s continued focus on PPP projects and several upcoming opportunities in the sector, with our strong financials and execution capabilities, we look forward to grow further.”
The company board declared an interim dividend of Re 0.10 per equity share of face value of Re 1 each (@ 10 per cent of face value of share) for financial year 2024-25. The record date for the purpose of payment of dividend is Tuesday, August 20, 2024, it said.
IRB Infrastructure Developers Ltd on Friday reported its fiscal first quarter earnings with profit at Rs 139.98 crore, up 4.6 per cent in comparison to Rs 133.77 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 1852.94 crore, reporting a growth of 13.4 per cent as against Rs 1634.22 crore during the same period of previous financial year. The company EBITDA came in at Rs 857 crore, up 10.2 per cent YoY.
IRB Infrastructure recorded the Q1 toll collection at Rs 1,556 crore, up 32 per cent on-year; and the FASTag collection comprised approximately 96 per cent of the total toll collection, it said.
Abhijit Roy, Managing Director & CEO, Berger Paints India Limited, said, “This quarter was tough due to elections, inclement weather and slowdown in a few key markets. In spite of this we were able to deliver double digit volume growth and the highest market share gain in a single quarter. Though we did well on the volume growth front, the value sales were lower due to the impact of the price drop taken in the prior quarters and stronger sales seen in the high volume, low value products in the waterproofing and construction chemicals category.”
“Profitability for the quarter, while healthy, had negative growth. Three factors contributed to this, among them being the base effect of a very high margin recorded in QI FY24, impact of price reductions in prior quarters and an increased investment in advertising and brand building activities linked to elections. We continue to register robust growth in waterproofing, construction chemicals and wood coating segments. The industrial segment had a muted performance in April and May but saw revival from June onwards which bodes well for us in the months ahead,” he added.
Berger Paints India Ltd on Friday recorded a profit of Rs 353.56 crore during the first quarter of FY25, down 0.2 per cent in comparison to Rs 354.35 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 3,091.01 crore, up 2 per cent as against Rs 3,029.51 crore during the same period of previous financial year. The company EBITDA stood at Rs 522.4 crore, down 6.2 per cent on-year.
Grasim Industries Ltd on Friday released its fiscal first quarter earnings with profit at Rs 2,267.74 crore, reporting a decline of 12.0 per cent in comparison to Rs 2,576.35 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 33,860.75 crore, up 9.0 per cent as against Rs 31,065.19 crore during the same period of previous fiscal year. The revenue growth was driven by strong performance from its diversified businesses portfolio. Cellulosic Staple Fibre, Building Materials and Financial Services businesses delivered superior performance, it said.
Dr Vikas Gupta, CEO, Alkem, said, “We are happy that our efforts to improve profitability have started paying off, and we have seen a marked increase in margins during the quarter. We are committed to maximising our EBITDA margin by carefully managing our product mix, controlling costs, and taking advantage of the favourable raw material pricing environment. The domestic business is our stronghold, and we expect to build on it by furthering the growth of our large brands and bridging portfolio gaps. Simultaneously, we are also focusing on growing our business in emerging markets. During the quarter, an important development was the successful resolution of US FDA’s Form 483 at the Baddi facility. At Alkem, we remain steadfast to prioritising quality and regulatory compliance.”
Alkem Laboratories Ltd on Friday recorded a profit jump of 90.1 per cent for the fiscal first quarter at Rs 545.16 crore in comparison to Rs 286.73 crore during the first quarter of previous financial year. It posted revenue from operations at Rs 3031.82 crore, posting a growth of 2.2 per cent as against Rs 2967.72 crore posted during the corresponding quarter of FY24. The company EBITDA stood at Rs 608.8 crore, up 56.6 per cent on-year.
Alkem Laboratories posted India sales number for the quarter at Rs 2022.30 crore, up 6.4 per cent YoY and the international sales were recorded at Rs 967.70 crore, down by 4.6 per cent on-year.
Hitesh Oberoi, Managing Director and Chief Executive Officer, Info Edge, said “Cash losses from our non-recruitment businesses have decreased by 73% to Rs 16.5 crore in Q1FY25, driven by an 18% YoY increase in billings and controlled cost increases. Our matchmaking business, Jeevansathi, is nearing breakeven in Q1. The core recruitment business, which experienced several weak quarters last fiscal year, continued to demonstrate growth in Q1 as well.”
Info Edge (India) Limited on Friday reported its fiscal first quarter profit at Rs 232.90 crore, posting a growth of 46.8 per cent in comparison to Rs 158.60 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 676.71 crore, up 8.1 per cent as against Rs 625.95 crore during the same period of previous fiscal year. The company EBITDA stood at Rs 222.2 crore, up 10.4 per cent YoY.
Dr Sharvil Patel, Managing Director, Zydus Lifesciences Limited, said, “Sustained growth momentum across our businesses along with enhanced profitability drove our strong Q1 performance. Execution success of our differentiated pipeline in the US and outperformance of our India Geography business were particularly noteworthy. With a focus on quality excellence, we will continue to align our processes and strengthen compliance. We are on course to achieve our growth aspirations for FY25 and are committed to investing in sustainable growth initiatives and innovative solutions for the future.”
Zydus Lifesciences on Friday posted its fiscal first quarter profit at Rs 1419.90 crore, reporting a growth of 30.6 per cent in comparison to Rs 1086.90 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 6207.50 crore, up 20.8 per cent as against Rs 5139.60 crore during the same period of previous fiscal year. The company EBITDA stood at Rs 2084 crore.
As of 30th June 2024, the company’s store portfolio included 228 Westside, 559 Zudio and 36 stores across other lifestyle concepts. During the quarter, it opened 6 Westside and 16 Zudio stores across 12 cities.
“We continued to expand our footprint across all our fashion formats and we now have a presence across 178 cities. Our business model, strategic choices, and operating disciplines continue to contribute to our differentiated performance. Our strategic choices have enabled us to scale up with enhanced profitability in a challenging and a competitive market,” the company said.
Noel N Tata, Chairman, Trent Limited, said, "The overall market sentiment remains subdued with increased competitive intensity. On our part, we continue to witness encouraging traction for our lifestyle offerings across brands, concepts, categories and channels. Focus on delivering consistent and improved value propositions keep us relevant for our customers. The market opportunity associated with building brands and a pure play direct-to-customer business like ours is immense. We will, therefore, continue with our expansion plans and deepen our store presence with the aim of being ever closer and convenient to customers and reinforcing our brand promise. We have applied Trent’s playbook to the Star business and are witnessing strong customer traction. Several new stores were added in Q1 and we expect a steady expansion of our portfolio going forward. The success of own branded products also augurs well for the Star business.”
Trent Limited on Friday recorded a profit jump of 134.7 per cent during the first quarter of FY25 at Rs 391.21 crore in comparison to Rs 166.67 crore during the corresponding quarter of FY24, surpassing estimates. It posted revenue from operations at Rs 4,104.44 crore, up 56.2 per cent as against Rs 2,628.37 crore during the same period of previous financial year. The company EBITDA stood at Rs 612.6 crore
According to a CNBC TV18 poll, Trent Ltd was expected to record Q1 profit at Rs 340 crore and revenue for the period was estimated at Rs 3,810 crore.
In a regulatory filing, the company said, “Given the accounting standards, our consolidated revenues do not include revenues of the Trent Hypermarket business. Nevertheless, the reported results include the proportionate share of profitability of this venture and is accounted basis the equity method.
A report by Centrum Broking stated, “Page’s Q1FY25 performance was in line with our estimates; revenue/EBITDA/PAT grew 3.9%/ 2.0%/4.3% YoY led by 2.6% volume growth (57.4mn pcs). Despite a subdued demand environment, management cited early signs of revival led by new product launches and marketing initiatives. E-commerce sales grew ~22% faster than retail channels. Management cited integration of adaptive marketing strategy to address evolving market demand coupled with reorganising distribution and agile supply chain management via ARS implementation, helped to lower system inventory to 72 days (vs 93 days) in Q1.”
Given stable RM costs, gross margins at 54.1% (+103bp). With lower employee cost (-3.6%), elevated ad spend (~5% sales) and other expenses (+20.2%) EBITDA margins cut to 19.0% (-36bp). Though higher other income (+146.6%) aided PAT at Rs1.7bn (+4.3%). Page’s network stood at, MBOs: 105k, EBOs: 1395 and LFS outlets: 1691. Management aims to maintain EBITDA margin ~18%-20%, driven by operational excellence, resource optimization and efficient supply chain management,” it added.
India Cements Ltd on Friday reported its fiscal first quarter earnings with profit at Rs 58.47 crore in comparison to a loss of Rs 87.40 crore recorded during the corresponding quarter of previous financial year. It posted revenue from operations at Rs 1026.76 crore, down 28.5 per cent as against Rs 1436.74 crore during the same period of FY24. The company EBITDA loss stood at Rs 24.6 crore.