Stocks to Focus: Siemens, Cipla, Airtel, Mankind, Patanjali Foods, BASF India
On May 15, the benchmark indices Sensex and Nifty are expected to start the day on a positive note, following positive trends in global markets. Across Asia, market sentiment is largely positive, reflecting gains in Wall Street. At 7:26 AM, Japan's Nikkei rose by 0.47 percent, while Korea’s Kospi soared by 0.11 percent. In India, wholesale inflation surged to a 13-month high of 1.26 percent in April, driven mainly by rising prices of food items, particularly vegetables. Additionally, several companies including PFC, Mankind Pharma, Jindal Stainless, Dixon Technologies, Honeywell Auto, Titagarh Rail Systems, IEX, Granules India, CMS Info Systems, Transport Corporation of India, MOIL, NLC India, and Trident are set to announce their Q4FY24 results today.
Siemens: Siemens reported a 70 percent increase in its net profit for Q4FY24 to Rs 803 crore, up from Rs 471 crore reported in the same period a year ago. Revenue from operations for the company also rose by 18.4 percent to Rs 5,750 crore from a year ago. The company's board also approved the demerger of its energy business into a separate legal entity, Siemens Energy India Limited. The new entity will later be listed on the BSE and NSE, the company said in a regulatory filing.
Bharti Airtel: The telecom company experienced a significant impact due to Nigeria's currency devaluation, resulting in a foreign exchange loss of Rs 2,544 crore from its African subsidiary. This led to a 31 percent decrease in its Q4 consolidated profit to Rs 2,071.6 crore, despite a 4.4 percent growth in consolidated revenue to Rs 37,599 crore. The company reported derivative and forex losses of $770 million in FY24 due to the Nigerian policy changes. However, excluding its African operations, the company saw improved financials for the March quarter, adding nearly 8 million new subscribers and reducing customer churn.
Cipla: Four promoter group entities are planning to sell approximately 2.53 percent stake in the pharmaceutical company Cipla through block deals. The price range of the block is set at Rs 1,289-1,357, making the total deal value around Rs 2,637 crore, as per reports.
Mankind Pharma: The company is reportedly planning to acquire Bharat Serum & Vaccines from the private equity player Advent. Advent currently owns a 100 percent stake in Bharat Serum & Vaccines and is seeking a valuation of $2 billion for its complete stake.
Patanjali Foods: The FMCG company's standalone net profit dropped by 22 percent to Rs 206.32 crore for Q4FY24, compared to Rs 263.71 crore in the same period last year. However, the company's revenue from operations increased by 4 percent to Rs 8,221 crore. The company's food & FMCG segment achieved its highest-ever quarterly revenue of Rs 2,704.61 crore in the March quarter, showing a sequential growth of 8.24 percent.
PVR Inox: The multiplex chain operator recorded a consolidated net loss of Rs 130 crore in Q4FY24, down from the Rs 333 crore reported in the year-ago period. The company's revenue from operations in Q4FY24 increased by 10 percent YoY to Rs 1,256 crore from Rs 1,143 crore.
Colgate Palmolive India: The company's net profit for Q4FY24 increased by 20.1 percent YoY to Rs 379.8 crore. Revenue from operations also rose by 10.3 percent to Rs 1,490 crore compared to Rs 1,350.6 crore in the same period of the previous fiscal year.
BASF India: The chemicals maker reported a Q4 profit that nearly doubled to Rs 162 crore, helped by strong demand for its materials and agriculture solution businesses. Revenue from operations rose 2.5 percent to Rs 3,360 crore. The company also declared a dividend of Rs 15 per share for FY24.
Oberoi Realty: The company reported a 64 percent year-over-year increase in net profit to Rs 788 crore for Q4FY24. Total income for the period grew by 56 percent to Rs 1,558 crore. For FY24, the company’s net profit rose to Rs 1,925 crore, while total income increased to Rs 4,818 crore. The company’s board has approved the issuance of non-convertible debentures (NCDs) and a Qualified Institutional Placement of equity shares, amounting to a total of Rs 4,000 crore. Additionally, the company has declared a third interim dividend of Rs 2 per equity share for Q4FY24 and recommended a final dividend of Rs 2 per equity share for FY24.
Mahindra & Mahindra: The company is selling its entire stake in New Delhi Centre for Sight Ltd for Rs 425.4 crore. Following the sale, Mahindra Holdings Ltd's shareholding in NDCFS will be reduced to zero.
Devyani International: The company reported a loss of Rs 49 crore for the fourth quarter of FY24. The company's revenue from operations for the quarter under review amounted to Rs 1,047.1 crore, up 38.7 percent from the revenue of Rs 755 crore in the fourth quarter of FY23.
Macrotech Developers: The real estate company plans to invest Rs 3,500-4,000 crore this fiscal year to acquire new land parcels for housing projects. The company added several new land parcels last fiscal year with a potential sales value of over Rs 20,000 crore.
Bharti Hexacom: The company, a subsidiary of Bharti Airtel, reported a 10.2 percent year-over-year increase in net profit to Rs 223 crore for the fourth quarter of FY24. The company's revenue also saw an 8 percent rise to Rs 1,868 crore. However, the full-year profit after tax (PAT) decreased by 8.2 percent to Rs 504 crore from Rs 549 crore in FY23. The total revenue for the full year increased by 7.7 percent to Rs 7,089 crore. Earnings before interest, taxes, depreciation, and amortization (EBITDA) for Q4FY24 and FY24 increased by 14.6 percent and 21 percent respectively, with the EBITDA margin showing a gain of 5.3 percent in FY24.
Butterfly Gandhimathi Appliances: The company's revenue decreased by 12 percent year over year to Rs 931 crore, and there was an 11 percent year-over-year decrease in Q4FY24 revenue to Rs 166 crore. The material margin declined by 13 percent year over year for FY24 and 31 percent year over year for Q4FY24. EBITDA fell by 74 percent year over year for FY24 and was negative for Q4FY24. Profit after tax (PAT) also decreased by 86 percent year over year for FY24 and was negative for Q4FY24.
Edelweiss Financial Services: The company announced a 13.3 percent year-over-year increase in net profit, reaching Rs 169.1 crore for Q4FY24. However, revenue from operations dropped 1.5 percent to Rs 2,967.3 crore. EBITDA rose by 13.2 percent to Rs 387 crore in Q4FY24.
Shree Cement: The company's consolidated net profit for Q4FY24 increased by 28 percent to Rs 675 crore. Its revenue from operations also grew by 6.5 percent to Rs 5,433 crore. The board recommended a final dividend of Rs 55 per equity share for FY24. The consolidated profit after tax for the full financial year rose to Rs 2396 crore from Rs 1,271 crore in FY23, while the revenue for the same period increased to Rs 20,521 crore from Rs 17,852 crore in FY23.
Repco Home Finance: The company's standalone net profit for Q4FY24 increased by 32 percent year-over-year to Rs 108 crore. Total income for the quarter was Rs 397 crore, and net interest income rose by 11 percent to Rs 172 crore. The company's gross non-performing assets ratio decreased to 4.1 percent at the end of the reporting cycle from 5.8 percent as of March 31, 2023. Additionally, the company proposed to pay a dividend of Rs 3 per equity share of face value of Rs 10 each to the shareholders for FY24.
Thyrocare Technologies: The diagnostics company recorded a net profit of Rs 17.8 crore in Q4FY24, marking a 41.1 percent year-on-year increase. Its revenue from operations also grew by 13.5 percent year-on-year to Rs 154.3 crore.
Radico Khaitan: The liquor manufacturer reported a consolidated net profit of Rs 53.9 crore for the fourth quarter of fiscal year 2024, representing a 26.4 percent year-on-year increase. The company's revenue from operations increased by 30 percent year-on-year to Rs 1,079 crore.
Shilpa Medicare: The company has completed a Phase 3 clinical trial for its new drug, SML-007, which aims to treat non-alcoholic fatty liver disease (NAFLD). Dosing for this study is expected to be finished by the end of Q1, and the study is likely to be concluded by the end of Q2FY25.
Aurionpro Solutions: The technology solutions provider recorded a net profit of Rs 40 crore for Q4FY24, a 48 percent increase from the same period last year. The company's revenue and EBITDA grew by 29 percent and 30 percent year-on-year to Rs 247 crore and Rs 52 crore, respectively. The board also announced a 1:1 bonus share issuance and recommended a dividend of Rs 2.5 per share.
Speciality Restaurants: The company's net profit for Q4FY24 was Rs 3.1 crore, marking a significant 94.4 percent decline from Rs 55.31 crore in the same period last year. The profit in Q4FY23 was boosted by a tax credit and an exceptional gain. Additionally, the company's revenue from operations grew by 9.9 percent year-on-year to reach Rs 96.2 crore.
