Stocks to Monitor: Lupin, Godrej Consumer, Zee Media, DCM Shriram, LTIMindtree, Route Mobile

Indian markets are expected to open with slight gains on Tuesday, May 7th, 2024, following the positive momentum from global peers. The GIFT Nifty futures are up 36 points compared to Nifty 50 futures, indicating a higher start around 22,585 levels. In Asia-Pacific, stock markets continued their upward trend, buoyed by expectations of a potential interest rate cut by the Federal Reserve. Japan's Nikkei 225 and Topix index were marginally down.

Lupin: The pharmaceutical company announced an impressive 52 percent year-on-year increase in its consolidated net profit, amounting to Rs 359.43 crore, for the fourth quarter of the fiscal year 2024. The company's revenue also rose by 13 percent from the previous year to Rs 4,895.11 crore. The earnings before interest, taxes, depreciation, and amortization (EBITDA) for the quarter was Rs 1,026.1 crore, a 66 percent increase from Rs 615 crore in the same period last year. The EBITDA margin was 14.2 percent, which is an improvement compared to the year-ago period's 11.5 percent. However, the company's Profit Before Tax was lower due to an impairment charge of Rs 201.3 crore. For the quarter, the company invested Rs 425.5 crore (8.7 percent of sales) in research and development (R&D). The United States sales accounted for 39 percent of Lupin's worldwide sales, with Q4 FY24 sales totaling Rs 1,900.6 crore, a 0.6 percent increase from Q3 FY24, and a 22.6 percent increase from Q4 FY23. Sales in India accounted for 33 percent of Lupin's global sales, with Q4 FY24 sales amounting to Rs 1,601.5 crore, a 7.2 percent decrease from Q3FY24 but an 8.3 percent increase from Q4FY23. Global active pharmaceutical ingredient (API) sales accounted for 5 percent of Lupin's global sales, with Q4 FY24 sales amounting to Rs 258.1 crore, a 7.1 percent decrease from Q3FY24, and a 20 percent decrease from Q4FY23.

Godrej Consumer Products: GCPL has reported a net loss of Rs 1,893.2 crore for Q4 of FY24, which is a significant decline compared to a net profit of Rs 452 crore during the same period last year. However, the company's revenue from operations has increased by 5.8 percent to Rs 3,385.6 crore. The EBITDA has also shown a positive trend, with a rise of 17.9 percent to Rs 755.7 crore, and the EBITDA margin stood at 22.3 percent, compared to 20 percent in the corresponding period in the previous fiscal year. Despite the loss, the board has declared an interim dividend of Rs 10 per share (1,000 percent on shares of face value of Rs 1 each) for the financial year 2024-25.

Gujarat Fluorochemicals: GFL, a company in India, reported a decrease of 69.6 percent YoY in net profit for Q4FY24, which amounted to Rs 101 crore. The company's revenue also fell by 23 percent to Rs 1,133 crore. Additionally, EBITDA dropped by 55.1 percent to Rs 237.6 crore, and the EBITDA margin was 21 percent, which is lower than the 36 percent in the same period last year. GFCL EV, a subsidiary of GFL, announced the commissioning of the initial phase of its integrated battery materials manufacturing facility.

Muthoot Microfin: The company announced a 27 percent year-on-year increase in net profit, which amounted to Rs 119.76 crore during the fourth quarter of FY24. Additionally, the net interest income (NII) showed a growth of 47 percent, reaching Rs 400 crore in the March quarter of FY24, up from Rs 272 crore in the same period last year. The gross non-performing asset (GNPA) was reported at 2.29 percent in the March quarter, while net NPA stood at 0.35 percent.

DCM Shriram: The company's net profit for Q4FY24 dropped by 36.9 percent YoY to Rs 117.8 crore, while its revenue from operations decreased by 11.8 percent to Rs 2,399.3 crore. The company's EBITDA also dropped by 22.7 percent to Rs 313.1 crore, with the EBITDA margin standing at 13.1 percent compared to 14.9 percent in the corresponding period in the previous fiscal year. The board has recommended a final dividend of 130 percent, that is, Rs 2.60 per equity share of face value of Rs 2 each for the financial year ended March 31, 2024.

Tamilnad Mercantile Bank: TMB has revised its Marginal Cost of Funds Based Lending Rates (MCLR) with effect from May 7, 2024, resulting in an increase of 10 to 15 basis points (bps) across various tenures.

Arvind SmartSpaces: The company reported an 85.7 percent YoY jump in net profit at Rs 19.5 crore for Q4FY24. Its revenue from operations increased 26.6 percent to Rs 117.4 crore.

Axis Bank: Axis Asset Management Company has recently appointed Vishal Dhanesha as their Chief Operating Officer. In his new role, Dhanesha will be responsible for overseeing the fund accounting operations, R&T operations, IT, and information security functions across the mutual fund, AIF, and PMS businesses. Prior to joining Axis AMC, Dhanesha served as the Head of Operations at SBI Funds Management. In addition, Axis AMC has also announced the appointment of Chetan Shah as Head of Real Estate.

LTIMindtree: The company has been issued an order under Section 73 of the Maharashtra Goods & Services Tax Act, 2017, which requires them to pay a total of Rs 155.7 crore. This amount consists of a penalty of Rs 7.1 crore, as well as accrued interest, for the fiscal year 2018-19.

Gujarat Gas: The company has reported a YoY increase of 11 percent in its net profit for Q4FY24, which stands at Rs 409.5 crore. Furthermore, the company's revenue from operations has seen a 1.48 percent increase, reaching Rs 4,134.2 crore. The board has recommended a dividend of Rs 5.66 per equity share of Rs 2 each to the shareholders for the financial year 2023-24.

GHCL: GHCL has reported a significant decline in its net profit for Q4FY24, with a YoY drop of 50.16 percent to Rs 125 crore. The company's revenue from operations also reduced by 26.5 percent to Rs 823.4 crore. Moreover, EBITDA fell by 47.1 percent to Rs 184.5 crore, bringing the EBITDA margin down to 22.4 percent from 31.1 percent in the corresponding period of the previous fiscal year.

Route Mobile: The company has reported a decline of 8.6 percent in its net profit for Q4FY24, which now stands at Rs 95.2 crore. However, the revenue from its operations showed an increase of 0.8 percent and now stands at Rs 1,017 crore. The EBITDA for the quarter was Rs 125.4 crore, which is a 4 percent decrease as compared to the same period last year. The EBITDA margin for the quarter was 12.3 percent as compared to 13.1 percent in Q4 of FY23.

Bigbloc Construction: Ace investor Shankar Sharma bought 365,000 shares of Bigbloc Construction at an average price of Rs 235 per share through open market transactions. The company will reveal its Q4FY24 results on May 7, Tuesday.

Adani Total Gas: The Adani group is currently seeking an offshore loan of approximately $600 million to refinance their existing debt. The loan will be raised by Dhamra LNG Terminal Pvt., which is a subsidiary of Adani Total Gas. The duration of the debt could range from three to five years, and the pricing is expected to be linked to the Secured Overnight Financing Rate.

Allsec Technologies: The company has announced its financial results for Q4FY24, reporting a net profit of Rs 20.7 crore, which is a YoY increase of 71 percent. The revenue of the company has grown by 20.1 percent to Rs 129.7 crore YoY. Additionally, the EBITDA has surged 43.3 percent YoY to Rs 35.2 crore. The board of directors has recommended a final dividend of Rs 15 per equity share.

Apcotex Industries: The company's net profit in Q4FY24 decreased by 34 percent YoY to Rs 15.3 crore, partly due to higher input and finance costs. However, revenue grew by 21.3 percent YoY to Rs 310.6 crore during the quarter.

Prudent Corporate Advisory Services: The company's revenue for Q4FY24 grew by 35.4 percent YoY to Rs 239.7 crore, while its consolidated net profit increased by 8.1 percent YoY to Rs 44.6 crore.