Stocks to Monitor: Grasim, Sun Pharma, Nykaa, Power Grid Corp, Garden Reach Shipbuilders

On May 23, Indian stock markets may start lower due to uninspiring performances in both US and Asian markets. Across Asia, market movements were mixed: Hong Kong's Hang Seng and Korea's Kospi saw declines of 1.28 percent and 0.40 percent respectively, while Japan's Nikkei traded 0.66 percent higher at 7:26 AM.

Grasim Industries: The company's Q4FY24 consolidated net profit rose by 15.5 percent year-on-year to Rs 2,721.81 crore, up from Rs 2,355.67 crore in Q4FY23. Its revenue from operations also increased by 13 percent to Rs 37,727.1 crore. The company's EBITDA for Q4FY24 was Rs 6,196 crore, representing a 27 percent year-on-year growth. For the full FY24, the consolidated net profit was Rs 9,925.65 crore. The company achieved an all-time high consolidated revenue of Rs 1,30,978 crore for FY24, marking an 11 percent year-on-year increase, driven by strong performance from its diversified business portfolio, particularly the building materials and financial services businesses. The EBITDA for the year reached a record level of Rs 20,837 crore.

Sun Pharmaceutical Industries: The company reported a Q4 consolidated net profit of Rs 2,655 crore ($318.9 million), surpassing estimates. This strong performance was driven by the U.S. and domestic markets, representing a significant increase from the previous year's profit of Rs 1,984 crore. Total revenue rose by 9.6 percent to Rs 11,983 crore. The company’s U.S. sales increased by nearly 11.9 percent to Rs 3,954 crore, while India sales rose by more than 10.2 percent to Rs 3,710 crore. The board proposed a dividend of Rs 5 per share for fiscal year 2024.

FSN E-Commerce Ventures: Nykaa reported a significant surge in profits in the fourth quarter, with a net profit of Rs 9.07 crore, up by around 300 percent compared to the previous year. Operating revenue rose by 28 percent year-on-year to Rs 1,667.9 crore. Additionally, the board approved an investment of Rs 20 crore in FSN International.

Jubilant FoodWorks: The company announced a Q4 consolidated net profit of Rs 208.2 crore, which was seven times higher than the Rs 28.5 crore reported in the same period last year. Revenue increased by 23.8 percent to reach Rs 1,572.7 crore. The Board has proposed a dividend of Rs 1.2 per equity share for FY24.

Power Grid Corporation of India: The company reported a nearly 4 percent decrease in its Q4 consolidated net profit, amounting to Rs 4,166.33 crore, primarily due to a slight decline in income. For FY24, PowerGrid's consolidated net profit increased to Rs 15,573.16 crore. The board has proposed a final dividend of Rs 2.75 per equity share for FY24 and has approved a fundraising of Rs 5,000 crore.

Gland Pharma: The company announced a 145 percent increase in Q4 consolidated net profit to Rs 192.4 crore. Revenue also increased by 96 percent to Rs 1,537.5 crore. The board proposed a final dividend of Rs 20 per equity share for FY24.

Wockhardt: The company is planning another round of funding, with a decision expected at a board meeting on May 28th. On March 27th, investment funds from top investors Madhusudan Kela and Prashant Jain contributed to a Rs 480-crore QIP by the pharmaceutical company.

Torrent Power: The company's Q4 profit decreased by 7.6 percent year over year to Rs 447 crore from Rs 484 crore. However, revenue increased by 8.1 percent to Rs 6,529 crore. The board approved the issuance of non-convertible debentures of up to Rs 3,000 crore and fundraising via QIP of up to Rs 5,000 crore.

Dhanlaxmi Bank: The bank experienced a significant 91.3 percent year-over-year drop in profit for Q4, falling to Rs 3.3 crore from Rs 38.2 crore. Net interest income also decreased by 8.9 percent to Rs 104.86 crore. The bank reported an operating loss of Rs 17.44 crore and a provisions write-back of Rs 28.15 crore. Tax expenses amounted to Rs 7.4 crore. Gross non-performing assets (NPA) dropped to 4.05 percent and net NPA declined to 1.25 percent.

Metro Brands: The company reported a 126.3 percent year-over-year surge in profit for Q4, increasing to Rs 155.6 crore from Rs 68.7 crore. Revenue rose by 7.1 percent to Rs 583 crore. The company also reported a tax write-back of Rs 50.8 crore.

Garden Reach Shipbuilders & Engineers: The company's Q4 profit saw a significant 102 percent year-over-year increase to Rs 111.6 crore from Rs 55.3 crore, while revenue also grew by 69 percent to Rs 1,015.7 crore.

Gujarat Pipavav Port: The company's Q4 profit dropped by 32.3 percent year over year to Rs 65.8 crore from Rs 97.3 crore. The company also reported an exceptional loss of Rs 51.86 crore. However, revenue grew by 7 percent to Rs 251.3 crore. Tejpreet Singh Chopra resigned as Chairman and Samir Chaturvedi was appointed as the new Chairman.

Everest Industries: The company's net sales decreased 3.18 percent year over year in March 2024, falling to Rs 432.11 crore from Rs 446.30 crore in March 2023. The quarterly net profit dropped by 58 percent to Rs 5.44 crore, and EBITDA decreased by 46.13 percent to Rs 16.16 crore.

Cineline India: In March 2024, the company saw a year-over-year increase of 20.03 percent in net sales, reaching Rs 53.71 crore from 44.75 crore in March 2023. The quarterly net loss decreased by 6.16 percent to 6.50 crore, and EBITDA rose by 70.14 percent to 12.59 crore.

RattanIndia Power: The company reported a 1.49 percent year-over-year increase in net sales for March 2024, up to Rs 913.96 crore from 900.58 crore in March 2023. The quarterly net profit skyrocketed by 2,307.36 percent to 10,665.75 crore, and EBITDA increased by 1.04 percent to Rs 287.80 crore. The earnings per share (EPS) also increased to 19.86 in March 2024 from 0.90 in March 2023.

Urja Global: The company's net sales increased 22.43 percent year over year in March 2024, rising to Rs 13.02 crore from Rs 10.64 crore in March 2023. The quarterly net profit surged by 400.98 percent to Rs 0.46 crore, and EBITDA increased by 14.29 percent to Rs 0.64 crore.

Gandhar Oil Refinery: The company experienced a 4.81 percent year-over-year decrease in net sales for March 2024, down to Rs 939.24 crore from 986.68 crore in March 2023. The quarterly net profit dropped by 58.8 percent to 9.14 crore, and EBITDA decreased by 27.36 percent to 38.39 crore.

GMM Pfaudler: The company's net sales for March 2024 decreased by 14.46 percent year over year, amounting to Rs 740.73 crore, down from 865.95 crore in March 2023. The quarterly net profit also dropped by 19.24 percent to 31.07 crore, and EBITDA decreased by 8.63 percent to 101.28 crore.

Ramco Cements: The company experienced a 4.11 percent year-over-year increase in net sales for March 2024, reaching Rs 2,678.24 crore compared to 2,572.54 crore in March 2023. However, the quarterly net profit decreased by 14.46 percent to 129.04 crore, while EBITDA increased by 2.34 percent to 432.61 crore.

Star Cement: The company's net sales for March 2024 increased by 10.73 percent year over year, reaching Rs 913.53 crore, up from 825.04 crore in March 2023. However, the quarterly net profit decreased by 8.79 percent to 87.67 crore, while the EBITDA increased by 4.82 percent to 187.55 crore.

HCL Info: In March 2024, there was an 18.64 percent year-over-year decrease in net sales, amounting to Rs 6.72 crore compared to Rs 8.26 crore in March 2023. The quarterly net loss improved by 2.12 percent to Rs 5.53 crore, and EBITDA improved by 62.93 percent to a negative Rs 5.32 crore.

Yash Chemex: The company's net sales for March 2024 decreased by 35.92 percent year-on-year (YoY), down to Rs 24.97 crore from 38.96 crore in March 2023. The quarterly net loss decreased by 632.05 percent to 3.06 crore, and EBITDA decreased by 392.06 percent to a negative 3.68 crore.

Navneet Education: In March 2024, the company experienced a 6.42 percent year-over-year increase in net sales, reaching Rs 435.28 crore, up from 409.02 crore in March 2023. The quarterly net profit also surged by 108.23 percent to 47.81 crore, and EBITDA increased by 42.29 percent to 91.11 crore.

TeamLease Services: The company experienced a 19.96 percent year-over-year increase in net sales for March 2024, amounting to Rs 2,431.97 crore compared to 2,027.27 crore in March 2023. The quarterly net profit increased by 14.78 percent to 27.48 crore, and EBITDA rose by 4.96 percent to 45.74 crore.

Talbros Automotive Components: The company experienced a 15.85 percent year-over-year increase in net sales for March 2024, rising to Rs 202.68 crore from Rs 174.95 crore in March 2023. The quarterly net profit surged by 194.85 percent to Rs 49.79 crore, and EBITDA increased by 32.15 percent to Rs 35.47 crore.

GE Power India: The company reported a 13.43 percent year-over-year increase in net sales for March 2024, up to Rs 390.76 crore from 344.48 crore in March 2023. The quarterly net profit rose by 120 percent to 25.94 crore, and EBITDA increased by 141.77 percent to 43.54 crore.

Goldiam International: The company's net sales increased 9.57 percent year over year in March 2024 to Rs 147.86 crore compared to Rs 134.95 crore in March 2023. The quarterly net profit rose by 10.25 percent to 17.76 crore, and EBITDA increased by 21.55 percent to 27.41 crore.

Minda Corporation: The company experienced a 13.07 percent year-over-year increase in net sales for March 2024, amounting to Rs 1,214.98 crore compared to 1,074.55 crore in March 2023. However, the quarterly net profit decreased by 41.98 percent to 70.75 crore, while EBITDA increased by 24.34 percent to 148.36 crore.

Max Healthcare Institute: The company's net sales for March 2024 increased by 17.16 percent year over year, reaching Rs 1,422.90 crore compared to 1,214.51 crore in March 2023. The quarterly net profit saw a slight increase of 0.25 percent to 251.54 crore, and EBITDA rose by 12.15 percent to 426.78 crore.

Yuken India: The company experienced an 18.01 percent year-over-year increase in net sales for March 2024, rising to Rs 119.23 crore from 101.03 crore in March 2023. The quarterly net profit surged by 1047.21 percent to 7.95 crore, and EBITDA increased by 103.79 percent to 16.69 crore.

Majestic Auto: The company's net sales for March 2024 increased by 19.65 percent year over year, reaching Rs 15.52 crore compared to 12.97 crore in March 2023. The quarterly net loss improved by 18.17 percent to 0.61 crore, and EBITDA increased by 131.32 percent to 25.70 crore.