Key Q4 Results Live Updates: With the likes of Maruti Suzuki, Wipro, Bajaj Finserv Infosys, TCS, HCL Technologies, HDFC Bank, Jio Financial, Reliance Industries, Tata Consumer Products, HUL, Axis Bank, Tech Mahindra, M&M, Vodafone Idea, Biocon, Godrej Industries, ONGC, having already released their earnings for the quarter ended March 31, 2024, the Q4 earnings season is now full swing. Market Participants are today keen on the performance of players like NMDC, BHEL, Ircon International, Hitachi Energy India, GE T&D India, JK Tyre and Industries, Metropolis Healthcare, Religare Enterprises, Arvind Fashions Limited, Welspun Enterprises, Dollar Industries, among others. Meanwhile, the street is also keeping a watch on how stocks are performing for the companies that have already released their earnings for the period.
The week will witness announcements from the likes of Grasim Industries, Nykaa, Jubilant Foodworks, ITC, Page Industries, Hindalco Industries, Ashok Leyland
Live Updates
15:38 (IST) 21 May 2024
Arvind Fashions reported profit for the quarter ended March 31, 2024 at Rs 24.32 crore, recording a growth of 122.9 per cent from Rs 10.91 crore during the fourth quarter of FY23. It posted revenue from operations at Rs 1093.85 crore, up 3.7 per cent as against Rs 1055.20 crore during the corresponding quarter of previous fiscal year.
15:25 (IST) 21 May 2024
Vascon Engineers Q4 Results: Profit down by 66.1% on-year
Vascon Engineers Limited recorded profit of Rs 16.82 crore, down 66.1 per cent on-year in comparison to Rs 49.61 crore during the corresponding quarter of FY23. It posted revenue from operations at Rs 335.42 crore, up 2.5 per cent as against Rs 327.34 crore during the same period last year.
14:38 (IST) 21 May 2024
Welspun Enterprises Q4 Results: Profit drops by 50.3% to Rs 77.35 crore
Welspun Enterprises on Tuesday recorded its fiscal fourth quarter profit at Rs 77.35 crore, posting a fall of 50.3 per cent on-year in comparison to Rs 155.60 crore during the corresponding quarter of FY23. It posted revenue from operations at Rs 821.11 crore, down 2.8 per cent as against Rs 845.08 crore during the same period last year. The company EBITDA stood at Rs 111 crore, up 17 per cent on-year.
13:56 (IST) 21 May 2024
Aether Industries reported a loss of Rs 1.43 crore during the fourth quarter of FY24 in comparison to a profit of Rs 37.56 crore during the corresponding quarter of previous year. It posted revenue from operations at Rs 117.53 crore, down 36.0 per cent on-year as against Rs 183.78 crore during the same period of the previous fiscal year.
13:46 (IST) 21 May 2024
Honda India Power Products Q4 Results: Profit jumps by 171.9% on-year
Honda India Power Products Limited posted its fiscal fourth quarter profit at Rs 15.80 crore, recording a rise of 171.9 per cent in comparison to Rs 5.81 crore during the corresponding quarter of FY23. It posted revenue from operations at Rs 231.16 crore, down 26.2 per cent on-year as against Rs 313.30 crore during the same period last year.
The Board of Directors also recommended a dividend of Rs 17.50 per equity share of the company for the Financial Year ended March 31, 2024. The said dividend shall be paid to the shareholders on September 26, 2024, it said.
12:51 (IST) 21 May 2024
Tracxn Technologies Q4 Results: Profit drops by 94.2% YoY to Rs 1.43 crore
Tracxn Technologies recorded a fiscal fourth quarter profit decline of 94.2 per cent on-year to Rs 1.43 crore as against Rs 24.50 crore during the fourth quarter of FY23. It posted revenue from operations at Rs Rs 20.32 crore, slightly lower than Rs 20.34 crore during the corresponding quarter of previous year.
12:21 (IST) 21 May 2024
Steel Authority of India Q4 Results: Profit falls by 3.6% to Rs 1126.68 crore
Steel Authority of India Limited (SAIL) reported fiscal fourth quarter profit at Rs 1126.68 crore, down 3.6 per cent on-year in comparison to Rs 1169.21 crore during the corresponding quarter of FY23. It posted revenue from operations at Rs 27,958.52 crore, down 4.0 per cent as against Rs 29,130.66 crore during the same period last year.
The company board also recommended a final dividend @ Re 1 per equity share of Rs 10 each for the financial year 2023-24 (i.e.10 per cent of the paid up equity share capital of the Company). The final dividend is in addition to the interim dividend of Re 1 per equity share of Rs 10 each, declared in February, 2024.
11:12 (IST) 21 May 2024
Zydus Lifesciences Q4 Results: In-line revenues driven by US and consumer wellness business, says Prabhudas Lilladher
“Zydus Lifesciences showed revenue growth of 10% YoY to Rs 55 bn in line with our estimate. Domestic formulation delivered growth of 7% YoY; against our estimate of 10% growth. Consumer business grew by 10% YoY; above our estimated US sales came in at $304mn (our est. of $300mn) vs USD 221mn in Q3FY24.The quarter had sales from gRevlimid as expected. Emerging markets were up by 13% YoY driven by most of its key markets. API markets witnessed growth of 15% YoY.”
– By Param Desai, Senior Research Analyst, Prabhudas Lilladher Pvt Ltd
11:07 (IST) 21 May 2024
In Q4FY24, Delhivery’s express parcel revenue declined 16% QoQ (+3% YoY), as e-commerce spends softened post a strong festive season. However, PTL revenue recovery (10% QoQ) and sustained profitability improvement (~400bps QoQ) helped the company deliver positive adj. EBITDA. This is the first full year of EBITDA profitability for the company. Management guided for 15-20% YoY revenue growth in express parcel segment and reduction in capex from 7.4% of revenue to 6.6-6.9%. Service EBITDA margin for express parcel segment is now in the guided ballpark of 18-20% and further efficiency led margin improvements are likely to be passed on to customers.
We maintain BUY on the stock with a target price of INR 600 valuing it at 40x FY26E EV/EBITDA. Key risks: i) pricing pressure in the express parcel or PTL business and ii) medium-term growth visibility worsens due to global headwinds.
– Analysts at ICICI Securities
09:53 (IST) 21 May 2024
ONGC Q4 Results: Oil production increases QoQ, gas production remain flat, says Prabhudas Lilladher Pvt Ltd.
– ONGC reported an EBITDA of Rs 174.1bn. PAT came in at Rs 98.7 bn on a standalone basis. Other income came in higher than expected at Rs 36.8bn.
– Oil production rose by 3% QoQ to 5.36mmt, while gas production at 5.1bcm was flat QoQ.
– Net oil realization came in at US$ 80.81/bbl (oil realization from JV fields was US$ 76.84/bbl) while gas realization came in at US$6.5/mmBtu.
– On a YoY basis, oil production grew 2.4% while gas production fell 3%.
– Announced a final dividend of Rs 2.5/share
09:49 (IST) 21 May 2024
Oil India Q4 profit falls 10% sequentially to Rs 2,333 crore
“Oil India reported an EBITDA of Rs 23.4 bn (+11% QoQ, PLe: Rs 21.5 bn). Adj PAT came in at Rs20.3 bn (+28% QoQ, PLe: Rs13bn) on a standalone basis. Increase in PAT was on account of higher than expected other income and lower depreciation and finance cost. Total oil and gas production fell by 1% and 2% QoQ. The company announced a final dividend of Rs3.75/share and a bonus of 1:2 (1 bonus share for every 2 shares held). The company expects production to reach 4mmt of oil and 5bcm of gas by FY26. If the company achieves this production target, FY26 EPS would come in at Rs 73. However, on a conservative basis, we build in a 5% CAGR in oil and 10% CAGR in gas production over FY24-26E, resulting in EPS of Rs 67.3. We maintain ‘Accumulate’ rating on better visibility of production growth, valuing the standalone business at 9x FY26 adj EPS and adding the value of investments to arrive at our TP of Rs 722.”
– Swarnendu Bhushan, Head – Institutional Equities, Prabhudas Lilladher Pvt Ltd
Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.