Q2 Earnings 2024: While majors like 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, ONGC, GAIL, Godfrey Phillips, LIC, SBI, Axis Bank, HDFC Bank, IRCTC, Coal India, JK Lakshmi Cement, Havells India, Paytm, ABFRL, Zomato, PVR Inox, Lupin, 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 Hyundai Motor India, Bosch, Zydus Lifesciences, General Insurance Corporation of India, UNO Minda, FSN E-Commerce Ventures Nykaa, 3M India, Suven Pharmaceuticals, Natco Pharma, Cello World, Finolex Cables, Reliance Power, NMDC Steel, Marksans Pharma, Minda Corporation, Sanofi Consumer Healthcare India, PN Gadgil Jewellers, Cera Sanitaryware, Religare Enterprises, Lux Industries, Allcargo Logistics, Cantabil Retail India, Yatra Online, Shalimar Paints, Liberty Shoes, 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. According to a report by Motilal Oswal Financial Services (MOFSL), “The earnings spread has deteriorated, with only 62 per cent of MOFSL Coverage Universe either meeting or exceeding profit expectations. Consumption has emerged as a weak spot while select segments of BFSI are seeing asset-quality stress.”
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.”
Cantabil Q2 Results 2024 Live: Vijay Bansal on company performance
Vijay Bansal, Chairman & Managing Director, Cantabil Retail India Limited, said, “We are pleased to report a robust beginning to FY25, with our Company achieving an impressive 29.4% volume growth in H1FY25. Notably, this success was accomplished despite challenging market conditions and adverse weather conditions, particularly the heat wave in North India and extended monsoon, which impacted consumption. Our strategic agenda is focused on enhancing customer convenience, reinforcing our brand promise, and driving growth through expanded reach, bringing us closer to customers; entry into newer markets; diversification across segments and categories and elevating the shopping experience.
The combination of above-normal monsoons, festive season and wedding season is expected to drive improvement in discretionary spending. Additionally, the government's focus on consumption stimulus will further bolster demand. This favorable environment is particularly beneficial for companies with strong brand loyalty; deep customer connect and established market presence. We remain positive on the consumption story, with a promising outlook for companies that have built strong relationships with their customers.”
Cantabil Q2 Results 2024 Live: Profit declines by 12.67% to Rs 6.55 crore
Cantabil Retail India Ltd on Tuesday reported its fiscal second quarter profit at Rs 6.55 crore, down 12.67 per cent in comparison to Rs 7.50 crore recorded during the same period of previous financial year. It posted revenue from operations at Rs 151.20 crore, up 11.91 per cent as against Rs 135.11 crore during the second quarter of FY24. The company EBITDA for Q2FY25 stood at Rs 34.5 crores as compared to Rs 29.6 crore in Q2FY24. EBITDA margin for Q2 stood at 22.8 per cent.
Fortis Healthcare Q2 Results 2024 Live: Elara Securities on Q2 performance
Elara Securities said, “Fortis Healthcare (FORH IN) Q2FY25 results were ahead of our estimates with revenue, EBITDA and PAT coming in 5%, 12% and 19%, respectively. The revenue beat was driven by the hospitals segment while hospitals as well as diagnostics segments contributed to the EBITDA beat. Growth and margin momentum remains strong in both businesses. We raise our FY25 core EPS estimate by 7% but retain FY26 & FY27 estimates, as we build in interest cost from minority buyout in the diagnostics business.”
Asian Paints Q2 Results 2024 Live: Persistent weakness drives earnings cut, says InCred Equities
InCred Equities said, “Asian Paints (APNT) posted a 6.5% yoy sales decline in its decorative business in Q2FY25, with a 0.5% volume decline, indicating a price cut of 6% (vs. a 9.9% cut in Q1FY25). Weak consumer sentiment impacted demand in Q2, further affected by extended monsoons, which, coupled with price cuts taken in the base and a weak mix, led to sales decline. Urban markets remained under stress while rural markets gained on account of improvement in the distribution reach & assortment. The pace of growth of the project business slowed down. The industrial business fared relatively better. International business declined by 1% yoy (+8.7% on a constant currency basis) impacted by weak performance in Africa and a decline in Bangladesh, which led Asia to decline by 1% yoy. Forex loss in Ethiopia, along with subdued demand in Asia, impacted profitability.”
Minda Corp Q2 Results 2024 Live: Ashok Minda on Q2 performance
Ashok Minda, Chairman and Group CEO, said, “We sustained strong growth momentum in Q2 FY2025, highlighting the resilience of our business model and the impact of our strategic initiatives. This growth has enabled us to expand market presence and consistently create value for our stakeholders. As we move forward, we remain committed to investing in innovation, enriching our product portfolio to meet our customers’ evolving demands, and driving greater cost efficiencies and agility across our operations.”
Minda Corporation Ltd on Tuesday released its fiscal second quarter earnings with profit at Rs 74.34 crore, registering a growth of 26.5 per cent in comparison to Rs 58.77 crore during the same period of previous financial year. It posted revenue from operations at Rs 1290.01 crore, up 7.87 per cent as against Rs 1195.84 crore recorded during the second quarter of FY24. the company EBITDA stood at Rs 147 crore with EBITDA Margin of 11.4 per cent, marking an increase of 38 bps YoY. “This performance is attributed to a robust product portfolio, an expanding customer base, and a strong focus on product premiumisation,” the company said.
Samvardhana Motherson Q2 Results 2024 Live: Vivek Chaand Sehgal on quarter performance
Vivek Chaand Sehgal, Chairman, Motherson, said, “These results highlight our strength and adaptability in an uncertain business environment. Our prudent management of the leverage ratio has positioned us well for sustainable growth. This strategic approach ensures that we maintain a healthy balance sheet while continuing to invest in the future. Our automotive booked business is USD 88 billion approx. and has been growing consistently, reflecting the trust our customers have in us. Our non-automotive businesses have been growing consistently, contributing to overall growth with stability and diversification. With the support of our customers and the hard work and dedication of our global teams, we have built a resilient organisation that is ready for continued success.”
Samvardhana Motherson Q2 Results 2024 Live: Profit jumps by 336.5% to Rs 879.74 crore
Samvardhana Motherson International Ltd on Tuesday released its fiscal second quarter earnings with profit at Rs 879.74 crore, registering a jump of 336.5 per cent in comparison to Rs 201.55 crore during the same period of previous financial year. It posted revenue from operations at Rs 27,811.86 crore, up 18.2 per cent as against Rs 23,527.46 crore during the corresponding quarter of FY24. The company EBITDA stood at Rs 2,448.8 crore, up 23.2 per cent on-year.
Jyothy Labs Q2 Results 2024 Live: MR Jyothy on Q2 performance
MR Jyothy, Chairperson and Managing Director, Jyothy Labs Limited, said, “Our EBITDA of 18.9% for the quarter indicates better operational efficiency. At the half-year mark, our 7% volume growth indicates that our strategic approach and initiatives can keep up the growth momentum. The growth in the market share of our brands highlights the consumer trust they have built. Going forward, our strategy includes deepening our distribution network in rural markets and expanding our direct retail presence. Volume growth will be a key metric for us as we focus on both rural and urban segments through targeted innovation and a strengthened distribution network.”
Jyothy Labs Q2 Results 2024 Live: Profit rises by 1% at Rs 105.02 crore
Jyothy Labs Ltd on Tuesday posted a profit of Rs 105.02 crore during the second quarter of FY25, registering a growth of 1.0 per cent in comparison to Rs 103.98 crore during the same period of previous fiscal year. It posted revenue from operations at Rs 733.76 crore, marginally higher than Rs 732.34 crore recorded during the second quarter of FY24. The company EBITDA stood at Rs 138.5 crore, up 2.4 per cent on-year.
Shree Cement Q2 Results 2024 Live: Value over volume limits realization fall QoQ, says Elara Securities
A report by Elara Securities stated, “Shree Cement’s (SRCM IN) Q2FY25 net sales fell ~18% YoY and ~23% QoQ to ~Rs 37.3bn. Also, EBITDA declined by ~32% YoY and ~35% QoQ to ~Rs 5.9bn. Net sales and EBITDA were in line with our estimates, but fell short of Consensus estimates of ~Rs 40bn and ~Rs 6.8bn, respectively. PAT was down ~81% YoY and ~71% QoQ to ~Rs 931mn. We believe gradual completion of ongoing growth capex bodes well for volume prospects. Also, lower fuel prices, increased green energy use and other cost savings should lift margin. Among the top three cement companies SRCM’s valuations are the lowest and trading below its historical mean valuations. Therefore, we reiterate Buy. However, we cut EBITDA by ~17% for FY25E, ~9% for FY26E and ~6% for FY27E, to reflect weak cement prices and lower-than-expected volume growth in FY25.”
Hyundai Q2 Results 2024 Live: Unsoo Kim on Q2 performance
Unsoo Kim, Managing Director, Hyundai Motor, said, “Despite the sluggish market conditions, we have successfully maintained profitability in H1 FY 2024-25, largely due to our proactive and continuous cost control measures. Further, we will be launching the CRETA EV for the mass market in the coming months and we expect it will be a game changer in the EV market.”
Hyundai Motor India Ltd on Tuesday released its fiscal second quarter earnings with profit at Rs 1375.47 crore, registering a decline of 15.5 per cent in comparison to Rs 1628.46 crore during the corresponding quarter of FY24. The decline in profit was mainly due to weak market sentiments and geo-political factors. It posted revenue from operations at Rs 17,260.38 crore, down 7.5 per cent as against Rs 18,659.69 crore during the same period of previous financial year.
The company sold a total of 1,91,939 units of passenger vehicles during the quarter. This includes 1,49,639 units in the domestic market with a strong contribution from the SUV segment. The export volume stood at 42,300 units.
Marksans Pharma Q2 Results 2024 Live: Mark Saldanha on Q2 performance
Mark Saldanha, Managing Director, Marksans Pharma, said, “Q2 marks a strong performance on back of a robust Q1. Growth trajectory improved further with revenue growth of 21% YoY. We are happy to share that this growth was broad based across all our key markets, led by the US market and also driven by increased market share. We continue to witness favourable raw material prices and improved product mix, thereby leading to a gross margin expansion of 732bps YoY and an all-time high quarterly EBITDA of Rs. 135.7 cr. We anticipate stronger performance in the coming quarters due to our upcoming new launches, the onset of the winter season and scaling up of the TEVA facility.”
Marksans Pharma Q2 Results 2024 Live: Profit rises by 15.8% at Rs 96.72 crore
Marksans Pharma Ltd on Tuesday released its fiscal second quarter earnings with profit at Rs 96.72 crore, registering a growth of 15.8 per cent in comparison to Rs 83.52 crore recorded during the second quarter of previous fiscal year. It posted revenue from operations at Rs 641.92 crore, up 20.8 per cent as against Rs 531.24 crore during the same period of FY24. The company EBITDA stood at Rs 135.8 crore, up 19.2 per cent on-year.
Cera Sanitaryware Q2 Results 2024 Live: Profit rises by 19.6% at Rs 68.61 crore
Cera Sanitaryware Ltd on Tuesday posted a profit of Rs 68.61 crore during the second quarter of FY25, registering a growth of 19.6 per cent in comparison to Rs 57.39 crore reported during the same period of previous financial year. It posted revenue from operations at Rs 492.56 crore, up 6.4 per cent as against Rs 463.06 crore during the second quarter of FY24. The company EBITDA stood at Rs 72.2 crore, down 5.4 per cent on-year.
Zydus Lifesciences Q2 Results 2024 Live: Dr Sharvil Patel on Q2 performance
Dr Sharvil Patel, Managing Director, Zydus Lifesciences Limited, said, “Sustained growth momentum across our businesses along with enhanced profitability drove our strong Q2 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, keeping patient centricity at the core.”
Zydus Lifesciences Q2 Results 2024 Live: Profit rises by 13.8% at Rs 911.20 crore, revenue up 19.9% YoY
Zydus Lifesciences Ltd on Tuesday posted its fiscal second quarter profit at Rs 911.20 crore, registering a growth of 13.8 per cent in comparison to Rs 800.70 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 5237.00 crore, up 19.9 per cent as against Rs 4368.80 crore during the same period of previous financial year. The company EBITDA stood at Rs 1,461.4 crore, up 27.5 per cent on-year.
UNO Minda Q2 Results 2024 Live: Acquisition alert
UNO Minda board approved the further investment of upto Rs 5 crore in the shares of Uno Minda Auto Spare Parts and Component Trading L.L.C., Dubai to be made by Sam Global Pte Ltd, Singapore, wholly owned subsidiary of the company in one or more tranches. The proposed acquisition, the company said, is made to facilitate business operations of the step down wholly owned subsidiary. “The proposed investment is expected to be completed in or more tranches within a period of 3 years,” it said.
UNO Minda Q2 Results 2024 Live: Sunil Bohra on Q2 performance
Sunil Bohra, CFO, Uno Minda Group, said, “We have delivered yet another strong quarterly performance, with highest-ever quarterly revenue for the quarter. Our approach towards strengthening customer relationships, forging strategic partnerships and new alliances with a strategic vision; we aim to capture greater market opportunities, cater to the automotive industry, and deliver long-term value. Our commitment to R&D fuels innovation and the development of new products. Our diverse product portfolio, robust manufacturing capabilities, and advanced technology solutions solidify our position as a preferred global systems manufacturer.”
UNO Minda Q2 Results 2024 Live: Nirmal K Minda on Q2 performance
Nirmal K Minda, CMD, Uno Minda Group, said, “We are committed to drive sustainable growth and innovation in the automobile market with a greater focus on localisation and technology advancement. Our focused approach has yielded significant results with the company achieving new milestones every quarter. As India emerges as a global automotive hub, we are well-positioned to capitalize on this growth with our diversified portfolio catering all vehicle segments. We remain committed to investing in cutting-edge technologies to drive future growth.”
UNO Minda Q2 Results 2024 Live: Profit rises by 9% at Rs 245.15 crore
UNO Minda Ltd onTuesday released its fiscal second quarter earnings with profit at Rs 245.15 crore, registering a growth of 9.0 per cent in comparison to Rs 224.99 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 4244.79 crore, up 17.2 per cent as against Rs 3621.30 crore during the same period of previous year. Growth, the company said, was driven by multiple segments led by Lighting, Switches, Casting, Sensors and Controllers. The EBITDA for Q2FY25 has been reported as Rs 482 crore vis-a-vis Rs 402 crore in Q2FY24, reporting a growth of 20 per cent.
Q2 Results 2024 Live: Hindalco ranks as world’s most sustainable aluminium company
Hindalco Industries Limited has emerged as the World's Most Sustainable Aluminium Company for the fifth consecutive year in the 2024 edition of the S&P Global Corporate Sustainability Assessment (CSA) rankings. Hindalco achieved a total score of 87 points (as of 30 October 2024), thereby improving its tally by 9 points from the last year, and is 22 points ahead of its closest peer.
Hindalco Q2 Results 2024 Live: Satish Pai on Q2 performance
Satish Pai, Managing Director, Hindalco Industries, said, "Our India business delivered a strong operational performance in Q2 bolstered by our relentless focus on operational reliability and cost management. Consequently, our Aluminium India Upstream business reported an EBITDA per tonne of $1,349— the highest in the last 10 quarters and the best-in-industry globally. The Copper business achieved another record quarterly EBITDA. Novelis’ global footprint allowed the company to achieve record beverage packaging shipments, partially offsetting the impact from the flooding-related outage at Sierre. During the quarter, we made significant progress across our growth projects in India Business and Novelis. Our company’s robust cash flow generation enabled us to maintain a consolidated net debt-toEBITDA ratio below 1.2x.”
Hindalco Q2 Results 2024 Live: Profit jumps by 78% to Rs 3,909 crore on India biz, favourable macros
Hindalco Industries Ltd recorded a profit of Rs 3,909 crore during the second quarter of FY25, registering a growth of 78.0 per cent in comparison to Rs 2,196 crore during the same period of previous financial year. Profit was driven by a strong operational performance by the India business, favourable macros and prudent cost management. It posted revenue from operations at Rs 58,203 crore, up 7.4 per cent as against Rs 54,169 crore during the second quarter of FY24.
Aluminium Upstream EBITDA per tonne was at $1,349, up 80 per cent, with industry-best margins of 41 per cent. Copper Business delivered another record-breaking performance in Q2, with EBITDA at an all-time high of Rs 829 crore, up 27 per cent. Novelis’ performance was impacted by the Sierre flood and tightening of scrap spreads. Excluding the Sierre flood impact, shipments grew by 4 per cent and EBITDA per tonne was at $502.
Star Cement Q2 Results 2024 Live: Oasis of earnings strength, says Elara Securities
An analysis report by Elara Securities stated, “Star Cement (STRCEM IN) reported net sales broadly in line with expectations, but EBITDA was ahead of our and Consensus estimates, driven by slightly better-than-expected realization. EBITDA declined ~3% YoY (versus aggregate drop of ~28% YoY for Elara Cement universe) to Rs 956mn, above our and Consensus estimates of Rs 886mn and Rs 868mn, respectively. This YoY EBITDA fall was the lowest in Elara Cement universe, led by incentive income, lower competitive intensity in its core North East market and additional volume from the new plant. We believe STRCEM’s earnings will be an oasis in the cement industry that has been struggling with intense competition and surplus. However, we cut EBITDA by ~15% for FY25E and ~4% each for FY26-27E, to reflect lower-than-expected volume growth in FY25 and weak cement price.”
Hindustan Copper Q2 Results 2024 Live: Profit rises by 67.5% at Rs 101.67 crore, revenue up 35.9% YoY
Hindustan Copper Ltd reported a profit growth of 67.5 per cent for the fiscal second quarter at Rs 101.67 crore in comparison to Rs 60.70 crore recorded during the corresponding quarter of FY24. It posted revenue from operations at Rs 518.19 crore, up 35.9 per cent as against Rs 381.40 crore during the same period of previous financial year. The company EBITDA stood at Rs 151.9 crore, up 25.4 per cent YoY.
Awfis Q2 Results 2024 Live: Amit Ramani on Q2 performance
Amit Ramani, Chairman and Managing Director, Awfis Space Solutions, said, “A few months ago, Awfis became the first flex space provider to get listed on the NSE and today we are proud to welcome NSE as our client. We are thrilled to announce this collaboration which reaffirms our leadership in the flex space sector and strengthens our commitment to meeting the unique needs of clients from diverse industries. At Awfis, we provide custom solutions that align with the evolving demands of modern businesses and professionals. As the demand for flex spaces continues to grow across India, Awfis is well-prepared to meet this rising need with scalable solutions designed to support both immediate growth and long-term strategic goals, ensuring that companies have the space and flexibility to thrive in today’s dynamic business environment.”
Awfis Q2 Results 2024 Live: Profit at Rs 38.67 crore, revenue up 40.4% YoY
Awfis Space Solutions Ltd reported a profit of Rs 38.67 crore during the second quarter of FY25 in comparison to a loss of Rs 4.35 crore recorded during the same period of previous financial year. It posted revenue from operations at Rs 292.18 crore, registering a growth of 40.4 per cent as against Rs 208.15 crore during the same period of previous financial year. The company EBITDA stood at Rs 100 crore, up 67.4 per cent on-year.
Britannia Q2 Results 2024 Live: Varun Berry on Q2 performance
Varun Berry, Vice Chairman & Managing Director, said, “A ~8% volume growth with a sequential increase in revenue and operating profits are satisfactory results in the face of severe commodity inflation leading to a tepid consumer demand scenario in most FMCG categories. In the context of steep rise in prices of key commodities such as Wheat, Palm, Cocoa, etc, we demonstrated agility in initiating focused pricing actions and identifying new levers for cost optimization across the value-chain. As a result, we maintained a healthy operating margin of ~15.5% during the quarter. We are committed to investing in capability enhancement and brand development with the clear objective of driving market share and sustaining profits.
Our agenda of being a “Total Global Foods Company” is progressing well with our adjacent businesses such as Croissant, Milk Shakes, Wafers and International growing at a healthy pace. Making strides in this direction, we are working on redefining our distribution strategy to optimize range distribution and improve outlet servicing, and the preliminary results of the pilots across 25 cities covering more than 50,000 outlets are encouraging.”