Q2 Earnings 2024: While majority of companies across sectors including Tata Consultancy Services (TCS), HCL Technologies, Infosys, Wipro, Tech Mahindra, Reliance Industries, Mahindra and Mahindra, Bharti Airtel, HUL, ITC, Marico, Dabur India, Nestle India, L&T, Adani Enterprises, Apollo Hospitals, Mankind Pharma, Nykaa, Godfrey Phillips, LIC, SBI, Axis Bank, HDFC Bank, IRCTC, Coal India, JK Lakshmi Cement, Havells India, Paytm, ABFRL, Zomato, PVR Inox, Lupin, Hyundai Motor India, Tata Motors, have already released their Q2 results, market participants and investors are looking forward to remaining few companies to announce their quarter earnings.
Today, companies including Eicher Motors, Solar Industries India, Torrent Power, Kalyan Jewellers India, Alkem Laboratories, Vodafone Idea, Deepak Nitrite, Godrej Industries, Apollo Tyres, Sun TV Network, NBCC (India), Century Plyboards, Redtape, Happiest Minds Technologies, Thomas Cook (India), Senco Gold, Borosil, Pitti Engineering, Arkade Developers, Dish TC India, Vardhman Holdings, and several others are lined up to announce their Q2 numbers.
Till date, the corporate earnings scorecard for Q2FY25 has been weak but excluding commodities, it’s broadly in-line. Weak numbers from India Inc for the quarter have led to the biggest downgrades in earnings estimates since early 2020, according to Jefferies. The brokerage firm said it has downgraded earnings estimates for 63 per cent of the 121 companies under its coverage that have reported their latest quarterly results.
Vipul Bhowar, Senior Director Listed Investments, Waterfield Advisors, said, “The notable downgrades in earnings forecasts in India can be attributed to several factors: weak consumer demand, cyclical economic conditions, decreased government spending, and adverse weather. This current downturn is part of a natural economic cycle, rather than a structural issue, and it is expected to improve in the coming quarters.”
Zydus Lifesciences Q2 Results 2024 Live: Strong outlook maintained, says Elara Securities
A report by Elara Securities stated, “Zydus Lifesciences (ZYDUSLIF IN) reported Q2FY25 revenue and EBITDA in line with our estimates. Net profit came in 12% lower due to higher tax rate in Q2. Revenue from the US was up 28% YoY in USD terms, but was down QoQ, as expected. gMyrbetriq continued to contribute. The management has guided for similar levels to sustain in FY26. India business grew 9% YoY, as expected. EM / Europe revenues came in better. The management maintained its guidance of high-teen revenue growth and 100-150bps EBITDA margin improvement.”
PI Industries Q2 Results 2024 Live: Profit rises by 5.76% at Rs 508.20 crore
PI Industries Ltd on Wednesday announced its fiscal second quarter earnings report with profit at Rs 508.20 crore, registering a growth of 5.76 per cent in comparison to Rs 480.50 crore during the same period of previous financial year. It posted revenue from operations at Rs 2221.00 crore, up 4.92 per cent as against Rs 2116.90 crore during the second quarter of FY24. The company EBITDA stood at Rs 628.2 crore, up 13.9 per cent on-year.
Thermax Q2 Results 2024 Live: Order book
As of September 30, 2024, the order balance for the quarter was Rs 11,593 crore (Rs 10,264 crore), up 13 per cent from the corresponding quarter of the previous year. The order booking for the quarter stood at Rs 3,353 crore (Rs 1 ,973 crore), up by 70 per cent. During the quarter, Thermax Babcock & Wilcox Energy Solutions Limited (TBWES), a wholly owned subsidiary of Thermax, received orders worth Rs 1,029 crore for setting up energy projects from an industrial conglomerate in Botswana, Southern Africa .
Thermax Ltd on Wednesday announced its fiscal second quarter earnings report with profit at Rs 198 crore, posting a growth of 24.84 per cent in comparison to Rs 158.60 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 2611.59 crore, up 13.43 per cent as against Rs 2302.46 crore during the same period of previous fiscal year. The company EBITDA stood at Rs 278 crore, up 36.2 per cent YoY.
The current quarter's revenue and profit are favourably impacted by an accrual of Rs 66 crore as income towards the incentive receivable under the Packaged Incentive Scheme (PSI), 2007 from the Government of Maharashtra, the company said.
Eicher Motors Q2 Results 2024 Live: ‘We outperformed all our previous monthly sales performance’
B Govindarajan, CEO - Royal Enfield and Wholetime Director, EML, said, "This quarter we launched two stellar motorcycles - the Guerrilla 450 and the 2024 Classic 350 in an all new avatar and response to both these motorcycles has been remarkable. We have also made significant progress on expanding and strengthening our footprint outside India as we debuted the brand in Bangladesh with our new flagship store in Dhaka, and a manufacturing and assembly unit in the country. We are also setting up a second CKD in Brazil later this year. Basis the strong legwork that we put in during Q2 this year, we were able to achieve a very special milestone for Royal Enfield in terms of our festive sales performance in October. We outperformed all our previous monthly sales performance and achieved 1,00,000+ sales in a single month. These initiatives underscore our commitment to our long term strategic goals and to continue delivering pure motorcycling experiences across the globe.”
Eicher Motors Q2 Results 2024 Live: Siddhartha Lal on Q2 performance
Siddhartha Lal, Managing Director, Eicher Motors Ltd, said, “During this quarter, we have continued to sustain the momentum both at Royal Enfield and VECV. At EICMA, earlier this month, we launched two motorcycles on our 650-Twin platform; the Bear 650, and the Classic 650. In addition to this, Royal Enfield marked its foray into electric mobility with a new EV brand - the Flying Flea. With an intent to disrupt and grow the electric motorcycle segment, we are approaching it with the same singularity, focus and unconventionality with which we have grown and energized the global mid-size segment over the last several years. Under the Flying Flea we will have a portfolio of differentiated electric motorcycles for city+ mobility. On the commercial vehicle front, VE Commercial Vehicles delivered its best Q2 ever, with strengthened market shares in truck segments. This is commendable against the backdrop of lower industry volumes as compared to Q2 of last year.”
Eicher Motors Ltd on Wednesday announced its fiscal second quarter earnings report with profit at Rs 1,100.33 crore, registering a growth of 8.27 per cent in comparison to Rs 1,016.25 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 4,263.07 crore, up 3.61 per cent as against Rs 4,114.53 crore during the same period of previous financial year. The company EBITDA stood at Rs 1,087.7 crore.
During the quarter, Royal Enfield recorded sales of 2,25,317 motorcycles as compared to 2,29,496 motorcycles sold during the same period in FY 2023-24.
Unichem Labs Q2 Results 2024 Live: Profit at Rs 30.49 crore, revenue up 11.20% YoY
Unichem Laboratories Ltd on Wednesday announced its fiscal second quarter earnings report with profit at Rs 30.49 crore in comparison to a loss of Rs 24.49 crore recorded during the corresponding quarter of FY24. It posted revenue from operations at Rs 462.16 crore, registering a growth of 11.20 per cent as against Rs 415.63 crore during the second quarter of previous financial year.
Varroc Engineering Q2 Results 2024 Live: Profit rises by 3.73% at Rs 57.80 crore, revenue up 10.28% YoY
Varroc Engineering Ltd on Wednesday reported a profit of Rs 57.80 crore during the second quarter of FY25, registering a growth of 3.73 per cent in comparison to Rs 55.72 crore recorded during the second quarter of FY24. It posted revenue from operations at Rs 2080.77 crore, up 10.28 per cent as against Rs 1886.81 crore during the same period of previous financial year. The company EBITDA stood at Rs 208 crore, up 7.2 per cent on-year.
NBCC Q2 Results 2024 Live: Appointment alert
The company also announced that the board has taken on record cessation of Saleem Ahmad, Director (Projects), NBCC as Chief Financial Officer with effect from November 01, 2024. The board of directors also approved the appointment of Anjeev Kumar Jain, Director (Finance), NBCC as Chief Financial Officer and Key Managerial Personal (KMP) of the company with effect from November 01, 2024. Further, it took on record the appointment of M/s ASA & Associates LLP (Chartered Accountants) as the Statutory Auditors duly appointed by C&AG for the financial year 2024-25.
NBCC Q2 Results 2024 Live: Profit jumps by 52.78% at Rs 125.13 crore, revenue up 19.38% YoY
NBCC (India) Ltd on Wednesday reported a profit growth of 52.78 per cent for the fiscal second quarter at Rs 125.13 crore in comparison to Rs 81.90 crore during the second quarter of FY24. It posted revenue from operations at Rs 2458.73 crore, up 19.38 per cent as against Rs 2058.52 crore posted during the same period of previous fiscal year. The company EBITDA stood at Rs 99.9 crore, up 4.6 per cent on-year.
Century Plyboards Q2 Results 2024 Live: Profit drops by 58.82% at Rs 39.99 crore
Century Plyboards on Wednesday reported a profit drop of 58.82 per cent for the fiscal second quarter at Rs 39.99 crore in comparison to Rs 97.12 crore during the same period of previous financial year. It posted revenue from operations at Rs 1183.62 crore, up 18.74 per cent as against Rs 996.84 crore during the second quarter of FY24.
Borosil Q2 Results 2024 Live: Profit drops to Rs 18.32 crore, revenue up 16.61% YoY
Borosil Ltd on Wednesday announced its fiscal second quarter earnings report with profit at Rs 18.32 crore, registering a marginal decline of 1.19 per cent in comparison to Rs 18.54 crore during the same period of previous financial year. It posted revenue from operations at Rs 273.89 crore, up 16.61 per cent as against Rs 234.87 crore recorded during the second quarter of FY24. The company EBITDA stood at Rs 40.8 crore, up 9.7 per cent on-year.
Kalyan Jewellers Q2 Results 2024 Live: Profit drops by 3.37% at Rs 130.33 crore, revenue up 37.40% YoY
Kalyan Jewellers India Ltd on Wednesday announced its fiscal second quarter earnings report with profit at Rs 130.33 crore, posting a decline of 3.37 per cent in comparison to Rs 134.87 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 6065.48 crore, up 37.40 per cent as against Rs 4414.54 crore during the same period of previous financial year. The company EBITDA stood at Rs 327.1 crore, up 4.3 per cent on-year.
Alkem Labs Q2 Results 2024 Live: Dr Vikas Gupta on Q2 performance
Dr Vikas Gupta, CEO, Alkem Laboratories, said, “We are pleased to share that the outcomes of our strategic initiatives designed to enhance profitability have proven effective. We are prioritising a high-margin product mix, aligning more effectively with market demands, and implementing cost-control measures to mitigate inefficiencies, which are supporting EBITDA margin growth. In the domestic market, our focus remains on augmenting the growth of our large brands and making strategic portfolio additions. We also see significant opportunities for growth in our emerging markets business.”
Alkem Labs Q2 Results 2024 Live: R&D expenses
Alkem Laboratories reported R&D expenses for the quarter at Rs 1146.50 crore, or 4.3 per cent of total revenue from operations, compared to Rs 115.80 crore in Q2FY24 at 3.4 per cent of total revenue from operations.
Alkem Labs Q2 Results 2024 Live: Profit rises by 10.98% at Rs 688.64 crore
Alkem Laboratories Ltd on Wednesday reported a profit growth of 10.98 per cent for the fiscal second quarter at Rs 688.64 crore in comparison to Rs 620.52 crore posted during the same period of FY24. It posted revenue from operations at Rs 3414.67 crore, marginally lower than Rs 3440.17 crore recorded during the second quarter of previous financial year. The company EBITDA stood at Rs 753 crore, up 0.8 per cent on-year.
Patel Engineering Q2 Results 2024 Live: Rahul Agrawal on company performance
Rahul Agrawal, CFO, Patel Engineering, said, “The quarter has shown substantial financial strength, with improvements in both EBITDA and Net Profit. This growth reflects our disciplined approach to cost and debt management. We have maintained a strong balance sheet, which provides us with the flexibility to invest in high potential projects and pursue growth opportunities as they arise. Looking forward, we are focused on optimizing capital allocation, maintaining financial discipline, and ensuring that our investment strategy aligns with long term value creation for our shareholders. Our strong financial foundation gives us confidence as we continue to expand our operations and drive sustainable growth.”
Patel Engineering Q2 Results 2024 Live: Kavita Shirvaikar on Q2 performance
Kavita Shirvaikar, MD, Patel Engineering, said, “Our performance in Q2FY25 highlights continued growth and operational efficiency, with revenue increasing by 14.98% and significant gains in profitability, despite it being a monsoon period. These achievements underscore our unwavering commitment to stakeholder value and our strategic approach in optimizing our project pipeline. Our focus remains on executing projects effectively to contribute to India’s infrastructure growth. Looking ahead, we remain focused on enhancing our operational capabilities, expanding our project portfolio, and driving innovation in our sector. The foundation we have built over the last few years provides us with confidence as we move into the next phase of growth and continue to deliver value for our stakeholders.”
Patel Engineering Q2 Results 2024 Live: Order book
The company’s order book as on 30th September, 2024 stands at 1,72,607 million. Additionally, the company was declared lowest bidder for a Rs 2,400 million hydropower project from NHPC Ltd. at the Teesta-V Power Station in Sikkim, reinforcing its position in the hydropower sector and contributing to this quarter's strong performance.
Patel Engineering Q2 Results 2024 Live: Profit jumps by 95.03% to Rs 73.45 crore, revenue up 14.98% YoY
Patel Engineering Ltd on Wednesday announced its fiscal second quarter earnings report with profit at Rs 73.45 crore, registering a growth of 95.03 per cent in comparison to Rs 37.66 crore posted during the same period of previous financial year. It posted revenue from operations at Rs 1174.33 crore, up 14.98 per cent as against Rs 1021.31 crore during the second quarter of FY24. The company EBITDA stood at Rs 162.3 crore, up 16 per cent on-year.
Bajaj Consumer Care Q2 Results 2024 Live: Subdued urban drags Q2 growth, says Elara Securities
A report by Elara Securities stated, “Net sales declined by 1.3% YoY to Rs 2.3bn in Q2, slightly below our estimates, with volume up by 1.1%. Almond Drops Hair Oil (ADHO) saw a low single-digit decline due to weaker performance in mid-sized packs in the wholesale channel, although larger packs (650-750ml) showed high single-digit growth in organized trade. The newly launched 190ml PET bottle scaled up, growing 8% in Q2. New products (NPD) and the traditional portfolio, including coconut oil, amla oil, skincare, hair care and digital-first brands, grew by 11% in H1FY25, contributing 20% to sales, up from 5% five years ago. Coconut oil sustained robust growth, achieving a double-digit market share in key states, such as Punjab, Rajasthan, Madhya Pradesh (MP), and Uttar Pradesh (UP). In terms of channels, general trade declined in the mid-single digits, driven by a slowdown in urban areas while rural areas grew slightly. Organized trade, accounting for 30% of sales, increased 10%, driven by a 32% rise in eCommerce. Quick commerce saw more than 40% growth and contributes ~6% of sales, prompting management to intensify focus on this channel.”
Bosch Q2 Results 2024 Live: Prolonged slow sales momentum to haunt, says InCred Equities
A report by InCred Equities stated, “Bosch’s sales growth continued to be tepid at 6% yoy in 2QFY25, a 6% miss to our/ Bloomberg consensus estimates. The EBITDA margin expansion of 80bp yoy to 12.8% was driven by lower other expenses and purchased goods (-400bp qoq, Fig. 3), which was 11% below our estimate, but in line with the Bloomberg consensus estimate. Lower-than-expected depreciation (-11% yoy) and interest costs limited the PAT miss to 4%, against our expectation, at Rs 4.9bn.”
“The recent slowdown in truck and car demand, and the slow growth of Bosch in 1HFY25 led us to cut our sales estimates by 2% for FY25F-27F. The lower purchased goods in 2Q impress, but we look for sustainability. We cut EBITDA estimates by 5% for FY25F but with localization benefit expectation, we limit the reduction to ~ 2% for FY26F-27F,” it added.
Jyothy Labs Q2 Results 2024 Live: Hiccup in steady progress, says Elara Securities
An analysis report by Elara Securities stated, “Jyothy Labs (JYL IN) reported 7% volume growth in , outperforming most large FMCG firms. Q2 growth was affected by July's floods in South India and management expects improved performance in the upcoming quarters. JYL’s affordable price point positioning and distribution expansion would drive volume growth ahead of peers. We retain Accumulate with a lower TP of Rs 520 based on 40x December 2026E P/E, as the stock has declined by more than 20% in the past three months.”
Britannia Q2 Results 2024 Live: Stable volumes, weak margin print, says JM Financial
JM Financial report stated, “Britannia’s Sep-Q earnings print was below expectation, especially on the operating profitability – Revenue growth was 2% below estimate, however, lower GM (due to -ve price/mix & RM inflation) and higher staff cost (Rs 500mn impact due to revaluation of phantom stocks) led to 9-12% miss on EBITDA/PAT. Volume growth at 8% (lower than double digit growth seen at end of 1QFY25) – impacted by tough demand environment (especially in urban metro markets) coupled with high inflation. While Britannia has maintained market share in 1H vs last year, some market share gains are seen for largest competitor from other players. In the near term, operating environment is likely to remain challenging – elevated RM costs will require c.4-5% price hikes at portfolio level which will be implemented over 2HFY25 & can have ST impact on volumes (grammage reductions).”
Sula Vineyards Q2 Results 2024 Live: Rajeev Samant on Q2 performance
Rajeev Samant, CEO of Sula Vineyards, said, “We are pleased to report our 10th consecutive quarter of growth in our Own Brands business. However, Q2 FY25 was a subdued quarter, due to slowdown in consumer discretionary demand, particularly in urban areas where 90% of our sales are concentrated, and temporary disruptions in key markets like Karnataka and Delhi. During the quarter, our Elite & Premium portfolio performed well with a 7% YoY growth, led by strong double-digit growth in our iconic brands - The Source, RASA, and Dindori. It is encouraging to see wine culture flourishing beyond our core markets, with strong double-digit growth in states like Telangana, Himachal Pradesh, Madhya Pradesh, Uttarakhand, and West Bengal, affirming our commitment to building a truly pan-India brand.
Looking ahead, while mindful of near-term challenges, we remain optimistic for the festive season on the back of structural tailwinds including the reopening of Andhra Pradesh after a hiatus of five years, introduction of 4 new labels in the CSD market and the return of SulaFest at our Nashik vineyards. We are confident the long-term Indian wine story remains intact, and we see a long runway of growth ahead of us.”
Sula Vineyards Q2 Results 2024 Live: Profit drops by 37.29% at Rs 14.48 crore
Sula Vineyards Ltd reported a profit of Rs 14.48 crore during the second quarter of FY25, registering a decline of 37.29 per cent in comparison to Rs 23.09 crore during the same period of previous financial year. It posted revenue from operations at Rs 141.21 crore, down 1.13 per cent as against Rs 142.83 crore during the second quarter of FY24.
PTC India Q2 Results 2024 Live: Dr Manoj Kumar Jhawar on company performance
Dr Manoj Kumar Jhawar, Chairman & Managing Director, PTC India Ltd, said, "A healthy mix of volume from trades across different tenures has contributed to the growth of 13% in trading volume in Q2-FY 25. The short-term has contributed 56% of the volume and balance has been contributed by medium- & long-term contracts. We expect to see firm electricity demand in sync with GDP growth rate. The new business drivers for the sector will be the renewable energy, storage solutions and consulting offerings. We expect to penetrate deeper into the opportunity space around identified growth drivers and maintain our leadership position."
PTC India Q2 Results 2024 Live: Profit rises by 12.51% at Rs 146.20 crore
PTC India Ltd released its fiscal second quarter earnings with profit at Rs 146.20 crore, posting a growth of 12.51 per cent in comparison to Rs 129.94 crore during the same period of FY24. It recorded revenue from operations at Rs 5127.99 crore, up 1.15 per cent as against Rs 5069.54 crore during the second quarter of previous fiscal year. The company EBITDA stood at Rs 306.2 crore, up 4 per cent on-year.
Bosch Q2 Results 2024 Live: Guruprasad Mudlapur on Q2 performance
Guruprasad Mudlapur, President, Bosch Group, India, and Managing Director, Bosch Limited, said, “Despite unpredictable rainfall and several macroeconomic factors affecting the automotive industry's overall performance this quarter, we showcased our capacity to adapt to changing market demands and provide high-quality solutions that align with our customers' needs.”
“We anticipate sustained demand across segments driven by the festive period in the next quarter. Coupled with investments in advanced technologies and a strong commitment to localization, Bosch Limited will continue to deepen its efforts in high growth areas and develop further capabilities to cater to an ever-evolving mobility landscape,” he added.