Key Q4 Results Live Updates: With the likes of Maruti Suzuki, Wipro, Bajaj Finserv Infosys, TCS, HCL Technologies, HDFC Bank, Shriram Finance, Jio Financial, Reliance Industries, Tata Consumer Products, HUL, Axis Bank, Vedanta, Tech Mahindra, Bajaj Finance having already released their earnings for the quarter ended March 31, 2024, the Q4 earnings season is now full swing. Market Participants were today keen on the performance of players like Ambuja Cement, Adani Power, Adani Wilmar, PNB Gilts, and Orient Cement among others.
The week will witness announcements from the likes of Adani Enterprises, Adani Ports and Special Economic Zone, Coal India, Dabur India, Federal Bank among many others.
Q4 results live: Adani Group companies will be dominating today's earnings
“We continued to witness strong volume growth in our edible oils & foods business driven by increased retail penetration. A focused approach in sales & marketing and regional approach in each category is leading to gaining market share from the local players. The adoption of our Integrated Business model strategy allows us to effectively compete with large and regional players. With fast-growing volumes, the company has achieved major milestones during the year. In fiscal FY24, Food & FMCG business reached 1 million MT in sales and overall Company surpassed 6 million MT in sales. Revenue in Food & FMCG segment has nearly doubled in last 2 years to reach almost Rs 5,000 crores in FY24. Improvement in branded mix in edible oils during the year has also led to better profitability for the company in the second half, with reported PAT in H2 FY24 of Rs 358 crores and Rs 404 crores on a consolidated and standalone basis respectively. The challenges faced by the company in Bangladesh operations have been overcome with the improved forex situation and fundamentals of the economy. The operations have come back to normalcy this quarter. Our brand “Rupchanda” remains the market leader in Bangladesh in the Edible Oil category,' said Angshu Mallick, MD & CEO, Adani Wilmar.
The Food & FMCG segment recorded revenue of Rs 1,341 crores in the quarter ending March, a volume growth of 9% on year. In FY24, the domestic revenue and volume both grew by 39%, whereas export volumes of rice declined by 46%, due to export restrictions. Overall Food & FMCG revenue grew by 23% on year resulting in revenues of Rs 4,944 crores in FY24.
The edible oil segment recorded a revenue of Rs 10,195 crores in the January-March period and Rs 38,788 crores in FY24. The volume in the edible oil segment grew by 11% on year in Q4 and 9% on year in the whole financial year. The domestic branded sales volume grew at a faster clip at 13% year-on-year in FY24.
For the financial year FY24, Adani Wilmar's segment volume grew by 8% from FY23, with 13% year-over-year growth in Oleo-chemicals and 2% on year growth in castor business. The oil meal business grew at 9% on year.
The Food & FMCG segment of Adani wilmar reached a milestone of almost Rs 5,000 crore in FY’24, and nearly doubled in 2 years. The company has also been gaining market share in its key products. In edible oils, ROCP (Refined Oil Consumer Pack) market share of Adani Wilmar has increased by 60 basis points to 19% on MAT basis. In wheat flour, the company's market share has increased by 60 basis points to 5.6%.
The company's revenue from operations declined by 4.5% on year in Q4 of FY24 standing at Rs 13,238.04 crore in the last quarter of FY24, against Rs 13,872.64 crore it posted in the same period of the previous year.
Adani Wilmar reported a standalone net profit of Rs 156.32 crore in Q4 of FY24, a jump of 60% on year, against Rs 97.70 crore in the same period a year ago.
-Q4FY24 total income up 18.9% at Rs 895.53 crore Vs Rs 753.22 crore
-Q4FY24 net profit at Rs 68.2 crore Vs Rs 44.99 crore
-Infrastructure and Housing sectors to keep Cement Demand vibrant
-Promotional scheme for rural housing to push demand
-Stronger Banking Industry – a booster to Capex, GDP expected robust growth of 6-8% in long run Commercial
-Make in India & PLI schemes attracting sizeable investments $12 billion in a year
-Growth in commercial space to support demand - Net leasing of office space expected to grow by 10-15%
Targets 140 mtpa capacity by 2028 and 100 mtpa capacity by 2026
Out of the total capex, Greenfield projects – 55% Brownfield projects – 45%
The company has clocked a revenue of Rs 4,780.32 crore in the last quarter of FY24, a growth of 12.3% on year, compared to Rs 4,256.31 crore it reported in Q4 of FY23.
Read full report: Ambuja Cements Q4 results: Net profit up 6% on year on Q4, declares dividend of Rs 2/share
Ambuja Cements has reported a net profit of Rs 532.29 crore in Q4 of FY24, against Rs 502.40 crore it reported in the same period a year ago, an increase of 6% on year.
The company reported a consolidated net profit of Rs 1,525.78 crore, a jump of 100% on year in Q4 of FY24, it posted a net profit of Rs 763.30 crore in the same quarter of previous year.
The company has fixed Friday, 14th June 2024 as the ‘Record Date’ to determine the entitlement of the members of the company to receive a dividend of Rs. 2 (Rupees. two only) per equity share having a face value of Rs.2/- each fully paid-up for the financial year 2023-24. The said dividend, if declared by the shareholders at the ensuing AGM, shall be paid on or after 1st July 2024, subject to deduction of tax at source as applicable.
The board has recommended a dividend of Rs. 2 (Rupees. two only ) per Equity share of the face value of Rs.2 each fully paid-up for the financial year 2023-24, subject to approval of shareholders of the company.
UltraTech is well poised to benefit from a strong demand environment led by government spending on infrastructure and rising demand from the housing sector. The company remains on track concerning its capacity expansion plans through organic and inorganic routes. Industry consolidation and structural demand drivers provide operational profitability growth tailwinds for the company. "At the current market price, the stock is trading at an enterprise value/EBITDA of 19.5x/15.7x its FY25E/ FY26E earnings, which we believe provides further room for upside. Hence, considering its long-term growth potential, we maintain our "Buy" rating on the stock, with an unchanged price target of Rs 11,900 owing to a strong earnings growth outlook over FY24-FY26," said Sharekhan in a research report.
On Tuesday, Havells India announced its Q4 results and its net profit grew 24.1% year-over-year to Rs 448.86 crore in Q4 of FY24, compared to Rs 361.71 crore in the same period a year ago. The company’s revenue from operations rose 11% on year to Rs 5,434.34 crore in Q4 of FY24, against Rs 4,849.59 crore in the same period of the previous year.
“Adani Energy Solutions’s consistent progress in commissioning of new lines, along with robust energy demand, and our ability to recognize and tap market opportunities within the areas of interest continues to propel our growth and keeps us at the forefront of energy transition in India. We are proud of our contribution to developing critical transmission infrastructure, facilitating renewable evacuation and as well as strengthening the existing grid. An ESG score of 25.3 from Sustainalytics in their recent assessment placed us to be one of the amongst top 20 electric utilities and helped surpass global and industry averages. This demonstrates our unwavering dedication to reduce environmental impact and promote sustainable practices,” said Anil Sardana, MD, Adani Energy Solutions.
Adani Energy Solutions's revenues saw a growth of 17% on account of the contribution from the newly operationalized transmission assets, commissioning of elements at North Karanpura and MP-II package lines, and an increase in the units sold because of higher energy consumption in the distribution business at Mumbai and Mundra.
Adani Energy Solutions recorded a 13.3% decline in its net profit to Rs 381 crore for Q4 of FY24, against Rs 440 crore in the same period a year ago. However, the company's revenue grew 17.4% on year to Rs 3,560 crore.
In the quarter ending December, Adani Wilmar, the Adani Group's FMCG firm, reported an 18% year-on-year decline in its net profit standing at Rs 200.9 crore as against Rs 246.1 crore in the Q3 of FY23. Also, the company reported a loss of Rs 130.7 crore in the September quarter or Q2 of FY24.
In the previous quarter ending December, Adani Power reported a consolidated net profit of Rs 2,738 crore on the back of strong industrial demand, which recovered the company's massive profit slump it reported in the previous year. The company reported a consolidated net profit of Rs 9 crore in the year-ago period.
IN Q3 of FY24, Ambuja Cements posted a 39% year-on-year growth in its standalone net profit standing at Rs 514 crore. It posted Rs 369 crore in the year-ago quarter. Its revenue from operations rose 8% on year to Rs 4,439 crore for the quarter ending December, compared to Rs 4,128 crore it earned a year ago.
Ambuja Cements's operating profit or EBITDA jumped 33% year-over-year to Rs 851 crore for the October-December period from Rs 639 crore in the corresponding quarter a year ago. Also, its other income during the third quarter surged 42% on year to Rs 108 crore.