Team-MoneyWorks4meDear Readers,
Welcome to our weekly company result update note. We understand the importance of staying up-to-date with the latest financial developments of the companies you have invested in. That’s why we are committed to providing you with short and insightful information about the earnings and performance of the companies in our coverage.
Reliance Industries
Muted O2C performance and higher tax expense has dragged overall profitability, positive sequentially.
Tech Mahindra
Net new deal TCV declined sharply at USD 359mn, -50% YoY which shall impact near term growth. Disappointing results, recovery might take longer than expected.
Larsen & Toubro
Strong results on all major fronts, robust orderbook gives good visibility of growth.
Tata Motors
Strong results led by JLR. Steady pipeline of CNG/EV Models in PV space provides pipeline for further growth. Tata Motors Board has approved a proposal for converting its DVR (Differential Voting Rights) shares into ordinary shares (7 TTMT shares for every 10 DVR shares). This will reduce the share capital by 4% making it EPS accretive.
Bajaj Auto
Good performance even after the slowdown in exports.
TVS Motors
Healthy performance on market share gains and ramp up of EV sales.
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ACC Ltd
Strong performance as a result of volume growth supported by reduced fuel cost, we expect sustained performance going forward.
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Cipla Ltd
Stellar performance on all fronts. Traction driven by chronic therapy solutions in domestic market as well as better execution in base business. Higher-than-expected revenue contribution from gRevlimid (myeloma cancer medication) also aided growth.
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Dr Reddy’s Laboratories Ltd
Good performance on uptick in exports across North America business and favorable seasonality in the Russia business.
Syngene International Ltd
Healthy results aided by currency benefits (7% positive impact).
Ajanta Pharma Ltd
Company reported good results on performance across therapeutic brand portfolio.
Mahindra Logistics Ltd
In line performance- while operating margins were not hurt, PAT losses are due to IND 116 (lease accounting) which results in front loading of interest cost (flattish QoQ).
Aegis Logistics Ltd
Overall good performance, minor decline in revenues is not to be read into.
Blue Dart Express Ltd
Weak results but freight cost pass through expected in coming few quarters will lead to margin recovery.
Coromandel International Ltd
Steady performance on back of strong volumes and sustained margins despite challenging business environment.
BASF India Ltd
Subdued results on account of industry wide low demand scenario and weak performance in key segment.
SRF Ltd
Weak results and near term headwinds due to down cycle in packaging film business as well as China dumping issues in chemical segment.
Astec Lifesciences Ltd
Poor results on sluggish demand environment impacting volumes.
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Ketan Pitrubhakta
Yog Rajani
