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| As on Apr 26, 2024 12:00 AM |
Your results on : Hot Pursuit |
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| Revenue from operations jumped 21.56% to Rs 69.47 crore in Q4 FY24 as compared with Rs 57.15 crore in Q4 FY23. Profit before tax stood at Rs 17.09 crore, up 3.76% YoY. Total expenses were at Rs 54.80 crore in the fourth quarter of FY24, up 24.01% on YoY basis. Cost of materials consumed was at Rs 24.71 crore (up 46.21% YoY) and employee benefits expense came in at Rs 9.67 crore (up 9.27% YoY) during the period under review. On FY24 basis, the company?s consolidated net profit jumped 2.15% to Rs 40.95 crore on 8.29% increase in revenue from operations to Rs 224.82 crore in FY24 over FY23. Meanwhile, the company?s board has declared a final dividend of Rs 20 per share for the year ended 31 March 2024. Wendt India known for its diversified and impressive Product Portfolio , Innovation strategy, strong Product Development, Personalized technical services and providing Technology Solutions in Grinding to its more than 750 direct customers in the domestic market. It has been a 37.5 ? 37.5 joint venture between Wendt GmbH and Carborundum Universal (CUMI).
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Kirloskar Pneumatic Company Ltd, Zensar Technologies Ltd, Tech Mahindra Ltd and Mrs Bectors Food Specialities Ltd are among the other gainers in the BSE's 'A' group today, 26 April 2024. Housing & Urban Development Corporation Ltd spiked 14.64% to Rs 232.9 at 11:46 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 60.31 lakh shares were traded on the counter so far as against the average daily volumes of 11.53 lakh shares in the past one month. Kirloskar Pneumatic Company Ltd surged 11.66% to Rs 1019.45. The stock was the second biggest gainer in 'A' group. On the BSE, 1.38 lakh shares were traded on the counter so far as against the average daily volumes of 24653 shares in the past one month. Zensar Technologies Ltd soared 10.96% to Rs 638.25. The stock was the third biggest gainer in 'A' group. On the BSE, 4.31 lakh shares were traded on the counter so far as against the average daily volumes of 50099 shares in the past one month. Tech Mahindra Ltd jumped 8.27% to Rs 1288.55. The stock was the fourth biggest gainer in 'A' group. On the BSE, 6.47 lakh shares were traded on the counter so far as against the average daily volumes of 76854 shares in the past one month. Mrs Bectors Food Specialities Ltd spurt 7.10% to Rs 1235.45. The stock was the fifth biggest gainer in 'A' group. On the BSE, 57321 shares were traded on the counter so far as against the average daily volumes of 8891 shares in the past one month.
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Net sales declined by 23.2% YoY to Rs 288.81 crore during the period under review. On the segmental front, revenue from the Insulator division was Rs 45.45 crore (down 4% YoY) and that from e-vehicle division was Rs 243.36 crore (down 26% YoY) in the fourth quarter. Total operating expenditure for Q4 March 2024 added up to Rs 254.35 crore, down 22% YoY. While the company?s raw material costs declined (down 26.9 YoY), other expenses and employee costs recorded an increase of 17.1% YoY and 30.1%, respectively. The company?s interest costs jumped 69% to Rs 13.06 crore in Q4 FY24 from Rs 7.73 crore in Q4 FY23. Profit before tax in Q4 FY24 stood at Rs 20.11 crore, down by 42.6% from Rs 35.06 crore in Q4 FY23. For FY24, Olectra Greentech has recorded net profit and revenues of Rs 76.83 crore (up 17.1% YoY) and Rs 1,154.14 crore (up 5.8% YoY), respectively. Olectra Greentech is engaged in the manufacturing of composite polymer insulators, electric buses and electric trucks.
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FSN E-Commerce Ventures Ltd, KPIT Technologies Ltd, Oberoi Realty Ltd, Zensar Technologies Ltd are among the other stocks to see a surge in volumes on BSE today, 26 April 2024. Alkem Laboratories Ltd registered volume of 1.05 lakh shares by 10:46 IST on BSE, a 52.61 fold spurt over two-week average daily volume of 1995 shares. The stock rose 0.97% to Rs.4,918.80. Volumes stood at 1969 shares in the last session. FSN E-Commerce Ventures Ltd clocked volume of 85.65 lakh shares by 10:46 IST on BSE, a 29.25 times surge over two-week average daily volume of 2.93 lakh shares. The stock gained 0.53% to Rs.178.95. Volumes stood at 2.32 lakh shares in the last session. KPIT Technologies Ltd witnessed volume of 10.89 lakh shares by 10:46 IST on BSE, a 21.78 times surge over two-week average daily volume of 49991 shares. The stock increased 2.91% to Rs.1,414.00. Volumes stood at 91975 shares in the last session. Oberoi Realty Ltd witnessed volume of 2.75 lakh shares by 10:46 IST on BSE, a 18.75 times surge over two-week average daily volume of 14637 shares. The stock increased 0.63% to Rs.1,481.05. Volumes stood at 8584 shares in the last session. Zensar Technologies Ltd clocked volume of 3.4 lakh shares by 10:46 IST on BSE, a 8.39 times surge over two-week average daily volume of 40513 shares. The stock gained 9.51% to Rs.629.90. Volumes stood at 50756 shares in the last session.
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| Revenue from operations jumped 7.04% to Rs 2,537.5 crore in the quarter ended 31 March 2024 as compared with Rs 2,370.6 crore in the quarter ended 31 December 2023. As compared with Q4 FY23, the company?s net profit declined 5.41% and revenue fell 6.58% in the quarter. Profit before tax rose 1.18% QoQ to Rs 471 crore in Q4 FY24. EBITDA increased by 3.1% QoQ and 4.7% YoY to Rs 502.8 crore in Q4 FY24. EBITDA margin stood improved to 19.8% as in Q4 FY24 as against 20.1% in Q3 FY24 and 20.3% in Q4 FY23. EBIT margin was at 16.9% in Q4 FY24 as against 17.2% in Q3 FY24 and 17.9% Q4 FY23. In dollar terms, the company's revenue stood at $305.1 million in Q4 FY24, registering a growth of 5% QoQ and 5.8% YoY. In constant currency, the firm reported a rise of 5.1% QoQ and 6.3% increase on YoY basis. During the quarter, LTTS signed one $100 million, one $30 million and two deals each of $20 million and $10 million. Additionally, the IT firm has signed one significant empanelment agreement. At the end of Q4FY24, the patents portfolio of L&T Technology Services stood at 1,296, out of which 833 are co-authored with its customers and the rest are filed by LTTS and employee strength stood at 23,812. On FY 24 basis, the company?s net profit jumped 7.56% to Rs 1303.7 crore in FY24 as compared with Rs 1212.1 crore in FY23. Revenue from operations increased 9.44% YoY to Rs 9647.3 crore in FY24. Meanwhile, the company?s board has declared a dividend of Rs 33 per equity share for FY24. Amit Chadha, CEO & managing director, L&T Technology Services, said, ??With a strong 5.1% sequential growth in Q4, our revenue run-rate has now crossed the $1.2Bn run-rate, a year after we moved past the $1Bn mark. We won a landmark $100 million deal in cybersecurity where we will architect and operate a sophisticated cyber intelligence centre by leveraging AI and Digital Forensic solutions. We are proud of the milestones achieved in FY24 which include the successful integration of SWC into LTTS, securing several significant wins in cybersecurity and next-generation communications supported by a comprehensive portfolio, filing 54 patents in AI along with a total of 1,296 patents to date, and developing a robust pipeline of opportunities in the Software-Defined Vehicle (SDV) domain. We are now embarking on the next stage of growth with a ?Go Deeper to Scale? strategy under which we will streamline our organization into 3 segments ? Mobility, Sustainability and HiTech. This cohesive structure will enhance our agility and domain specialization to unlock higher value for customers and employees.? LTTS is a listed subsidiary of Larsen & Toubro focused on Engineering and R&D (ER&D) services. It offers consultancy, design, development and testing services across the product and process development life cycle. The scrip dropped 8.29% to Rs 4,751.45 on BSE.
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The transaction has been agreed at an Enterprise Value of Rs 3,000 crore and will be subject to customary regulatory approvals and closing conditions. Through this transaction, ADV will fully divest its interest in Arjas marking another successful exit from its India portfolio. Arjas is a special steel manufacturer primarily engaged in the business of manufacturing special bar quality (SBQ) steel focused towards the auto sector in India. The company has a total employee strength of nearly 2,500 and a combined production capacity of approximately 5,00,000 MT through its integrated steel plant in Tadipatri, Andhra Pradesh and an electric arc furnace-based steel plant in Mandi Gobindgarh, Punjab. Arjas is currently undergoing a major expansion at both its facilities, which will enhance its consolidated capacity as well as expand its downstream facilities. Bahirji A. Ghorpade, managing director, SMIORE, said: ?This acquisition marks a significant milestone for SMIORE as we venture into steel and value-added products manufacturing. It not only unlocks numerous synergies but also represents a meaningful forward integration for SMIORE. The acquisition will take us another step closer to our strategic transition from a merchant miner to an integrated commodity producer. Arjas is a well-established player in the special steels segment, serving a host of critical industries that align with the government?s growing focus on infrastructure and India?s rapidly growing manufacturing economy. This acquisition, coupled with our recent mining expansion, positions SMIORE on a robust growth trajectory for the years ahead.? Sandur Manganese & Iron Ores is the flagship company of the Karnataka-based Sandur Group. It is involved in mining of low phosphorous manganese and iron ore in the Hosapete-Ballari region of Karnataka. It also manufactures ferro-alloys (silico-manganese) at its plant in Vyasankare, near Hospet. The company's consolidated net profit declined 78.10% to Rs 9.07 crore on a 60.55% fall in sales to Rs 153.02 crore in Q3 FY24 over Q3 FY23. The scrip shed 0.91% to currently trade at Rs 539.50 on the BSE.
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| Revenue from operations rose 14.39% year on year (YoY) to Rs 1,176.95 crore in the quarter ended 31 March 2024. Profit before tax stood at Rs 165.73 crore in fourth quarter of FY24, up 49.86% from Rs 110.59 crore reported in Q4 FY23. On a full year basis, the company?s net profit soared 90.19% to Rs 410.77 crore in FY24 over FY23. Revenue from operations rose marginally on YoY basis to Rs 4,184.89 crore in the financial year ended 31 March 2024. Meanwhile, the board recommended a final dividend of Re 0.50 per equity share for the financial year ended 31 March 2024, subject to approval of shareholders. Further, the board has approved brownfield expansion of a new speciality carbon black line of 70,000 MTPA at an estimated capex of Rs 220 crore which is scheduled to be operational within 18 months. Further, based on the recommendation of the nomination and remuneration committee, the board has re-appointed Anurag Choudhary as a chairman, managing director & CEO for a period of five years effective from 14 August 2024 to 13 August 2029. Anurag Choudhary, CMD & CEO of Himadri Speciality Chemical said, ?We are delighted to announce that the company has become debt-free with positive net cash balance as a result of our relentless focus on disciplined capital deployment and working capital utilization. We also take pride in announcing that the company has achieved highest ever sales, EBITDA, and PAT.? Himadri Speciality Chemical is primarily engaged in the manufacturing of carbon materials and chemicals. The Company has operations in India and caters to both domestic and international markets.
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Revenue from operations stood at Rs 12,871.3 crore in the March quarter, down 1.76% from Rs 13,101.3 crore recorded in the preceding quarter of FY24. On a year on year (YoY) basis, Tech Mahindra's net profit dropped 40.86% while revenue fell 6.17% in Q4 FY24. EBITDA stood at Rs 1,407.8 crore in the quarter ended 31 March 2024, up 22.8% QoQ and down 30.3% YoY. EBITDA margin was at 10.9% in Q4 FY24 as compared to 8.8% in Q3 FY24 and 14.7% in Q4 FY23. In terms of dollars (USD), revenue stood at $1,548.2 million in Q4 FY24, registering a de-growth of 1.6% QoQ and 7.2% YoY. In constant currency terms, revenue declined by 0.8% QoQ and down 6.4% YoY. Profit after tax was at $79.7 million, up 29.5% QoQ and down 41.5% YoY. Free cash flow was at $129 million in the March quarter. During the quarter, EBITDA was at $169.2 million, up 22.9% QoQ and down 31.1% YoY. EBITDA margin came in at 10.9% in Q4 FY24, up 220 bps QoQ. The IT firm secured net new deals worth $500 million in Q4 FY24 as against $381 million in Q3 FY24 and $592 million reported in Q4 FY23. Total headcount was at 145,455, registering a decline of 1% QoQ and 4.6% YoY. The last twelve month (LTM) IT attrition rate was constant at 10% in Q4 FY24 as compared to Q3 FY24, while in Q4 FY23 attrition rate was 15%. On full year basis, the company?s consolidated net profit tumbled 51.2% to Rs 2357.8 crore on 2.43% decline in revenue to Rs 51,995.5 crore in FY24 over FY23. Cash and cash equivalent was at Rs 7,911.5 crore as of 31 March 2024, compared with Rs 7,012.3 crore as of 31 December 2023 and Rs 7,435.1 crore as of 31 March 2023. Rohit Anand, CFO of Tech Mahindra said, ?With another quarter of robust cash generation, we have reported improvement in deal wins and operating margins in Q4FY'24, which has enabled consistent dividend distribution. We are confident that our actions will lead to steady earnings growth in the coming years. We will continue to focus on operational excellence and cost savings to deliver superior shareholder returns.? Meanwhile, the company?s board has recommended a final dividend of Rs 28 per equity share for FY24. The dividend, if approved, will be paid on or before, 9 August 2024. Tech Mahindra is focused on leveraging next-generation technologies including 5G, blockchain, cybersecurity, artificial intelligence, and more, to enable end-to-end digital transformation for global customers.
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| Revenue from operations (excluding excise duty) jumped 43.27% to Rs 381.59 crore in Q4 FY24 as compared with Rs 266.34 crore posted in same quarter last year. Profit before tax surged 78.04% to Rs 36.16 crore in the quarter as compared with Rs 20.31 crore posted in Q4 FY23. Total expenses were at Rs 706.19 crore in the fourth quarter of FY24, up 52.68% on YoY basis. Cost of materials consumed was at Rs 273.85 crore (up 73.06% YoY) and employee benefits expense came in at Rs 10.65 crore (up 38.85% YoY) during the period under review. Som Distilleries and Breweries is primarily engaged in brewing, fermentation, bottling, canning and blending of beer and Indian Made Foreign Liquor (IMFL). It also supplies draught beer from its plants.
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Among the components of the S&P BSE Consumer Durables index, Aditya Birla Fashion & Retail Ltd (up 3.64%), Havells India Ltd (up 3.49%),Dixon Technologies (India) Ltd (up 3.39%),Whirlpool of India Ltd (up 1.18%),Voltas Ltd (up 0.83%), were the top gainers. Among the other gainers were Crompton Greaves Consumer Electricals Ltd (up 0.81%), Rajesh Exports Ltd (up 0.25%), and Titan Company Ltd (up 0.02%). On the other hand, V I P Industries Ltd (down 0.46%), and Blue Star Ltd (down 0.14%) turned lower. At 09:42 IST, the S&P BSE Sensex was up 100.8 or 0.14% at 74440.24. The Nifty 50 index was up 34.9 points or 0.15% at 22605.25. The S&P BSE Small-Cap index was up 245.91 points or 0.52% at 47358.69. The S&P BSE 150 Midcap Index index was up 88.18 points or 0.63% at 14065.48. On BSE,1987 shares were trading in green, 883 were trading in red and 94 were unchanged.
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Among the components of the S&P BSE Metal index, Steel Authority of India Ltd (up 2.7%), Vedanta Ltd (up 2.69%),Hindalco Industries Ltd (up 1.47%),NMDC Ltd (up 1.07%),Tata Steel Ltd (up 1.01%), were the top gainers. Among the other gainers were JSW Steel Ltd (up 0.13%), and Coal India Ltd (up 0.07%). On the other hand, Jindal Stainless Ltd (down 1.49%), APL Apollo Tubes Ltd (down 0.47%), and Jindal Steel & Power Ltd (down 0.42%) turned lower. At 09:42 IST, the S&P BSE Sensex was up 100.8 or 0.14% at 74440.24. The Nifty 50 index was up 34.9 points or 0.15% at 22605.25. The S&P BSE Small-Cap index was up 245.91 points or 0.52% at 47358.69. The S&P BSE 150 Midcap Index index was up 88.18 points or 0.63% at 14065.48. On BSE,1987 shares were trading in green, 883 were trading in red and 94 were unchanged.
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Among the components of the S&P BSE IT Sector index, Tech Mahindra Ltd (up 12.42%), Zensar Technologies Ltd (up 7.62%),Magellanic Cloud Ltd (up 5%),Mphasis Ltd (up 3.86%),Cigniti Technologies Ltd (up 3.67%), were the top gainers. Among the other gainers were Moschip Technologies Ltd (up 3.65%), Birlasoft Ltd (up 3.6%), Newgen Software Technologies Ltd (up 3.4%), LTIMindtree Ltd (up 3.36%), and Quick Heal Technologies Ltd (up 3%). On the other hand, L&T Technology Services Ltd (down 7.58%), eMudhra Ltd (down 4.1%), and Tanla Platforms Ltd (down 2.72%) moved lower. At 09:42 IST, the S&P BSE Sensex was up 100.8 or 0.14% at 74440.24. The Nifty 50 index was up 34.9 points or 0.15% at 22605.25. The S&P BSE Small-Cap index was up 245.91 points or 0.52% at 47358.69. The S&P BSE 150 Midcap Index index was up 88.18 points or 0.63% at 14065.48. On BSE,1987 shares were trading in green, 883 were trading in red and 94 were unchanged.
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Total operating expenditure for the period under review added up to Rs 1,514 crore, up 9.8% YoY. This was primarily on account of higher raw material costs (up 8.7% YoY), higher other expenses (up 9.8% YoY) and higher employee costs (up 6.9% YoY). The company recorded 17.5% YoY rise in interest costs and 6.1% YoY increase in depreciation charges in Q4 FY24. Profit before tax in Q4 FY24 stood at Rs 305.64 crore, up by 3.9% from Rs 294.12 crore in Q4 FY23. For FY24, Schaeffler has recorded net profit and revenues of Rs 912.50 crore (up 5.1% YoY) and Rs 7,226.13 crore (up 5.2% YoY), respectively. Harsha Kadam, managing director, said: ?Year 2024 started well for us as we registered a strong YoY growth in our domestic business. Margins for the quarter remained resilient despite seasonality in some of our sectors. With a good rebound in our intercompany exports for the quarter, we remain cautiously optimistic of the challenging and volatile macro economic environment.? Schaeffler is among the largest industrial and automotive supplier with 3 well known product brands (LuK, INA and FAG), 4 manufacturing plants and 8 sales offices. Schaeffler also has the largest after-market networks serving the industrial and automotive customers. The scrip fell 1.25% to currently trade at Rs 3232.25 on the BSE.
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NCC Ltd gained 1.56% today to trade at Rs 250.6. The S&P BSE India Infrastructure index is up 0.53% to quote at 598.33. The index is up 6.74 % over last one month. Among the other constituents of the index, Oil India Ltd increased 1.39% and GMR Airports Infrastructure Ltd added 1.32% on the day. The S&P BSE India Infrastructure index went up 102.19 % over last one year compared to the 22.85% surge in benchmark SENSEX. NCC Ltd has added 4.05% over last one month compared to 6.74% gain in S&P BSE India Infrastructure index and 2.07% rise in the SENSEX. On the BSE, 8362 shares were traded in the counter so far compared with average daily volumes of 4.58 lakh shares in the past one month. The stock hit a record high of Rs 277.9 on 05 Apr 2024. The stock hit a 52-week low of Rs 99.55 on 24 May 2023.
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| Koppu Sadashiv Murthy, (CMD) with additional charge of Director (Finance) has been appointed as CFO in place of Jai Prakash Srivastava, Director (E, R&D). Murthy is an Electrical Engineering graduate from Bhopal University with an MBA in Finance. During 34 years of years of wide-ranging experience in corporate office and in various manufacturing units of BHEL such as Hyderabad, Bhopal, Jhansi, and Varanasi, Murthy developed a comprehensive set of competencies in strategic, operational, project & commercial management, project finance & control, capital & revenue budgeting and receivables management. He is also having the expertise knowledge in the area of Financial systems & procedures to put in place financial frameworks together with an in-depth knowledge of corporate financial law, risk management practices, data analysis, forecasting methods and ability to strategize and solve problems efficiently. State-run Bharat Heavy Electricals (BHEL) is engaged in design, engineering, construction, testing, commissioning and servicing of a wide range of products and services to the core sectors of economy. As of 31 March 2024, the Government of India held 63.17% stake in the company. The company posted a standalone net loss of Rs 163 crore in Q3 FY24 as against a net profit of Rs 31 crore in Q3 FY23. The public sector undertaking?s income from operations rose by 7% YoY to Rs 5,273 crore in the third quarter. The scrip rallied 2.90% to end at Rs 271.60 on Thursday, 25 April 2024.
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The bank?s financial results include the financial results of its wholly owned subsidiary, Bharat Financial Inclusion (BFIL), a business correspondent (BC) of the bank involved in originating small ticket MFI loans for the bank and IndusInd Marketing and Financial Services (IMFS), an associate of the bank. IndusInd Bank's consolidated net profit grew 14.96% to Rs 2,349.15 crore in the quarter ended 31 March 2024 as compared to Rs 2,043.44 core posted in Q4 FY23. Consolidated total income climbed by 20.8% year on year (YoY) to Rs 14,706.66 crore during the period under review. Net interest income (NII) improved to Rs 5,376 crore in Q4 FY24 (up 15% YoY and up 2% QoQ). Net interest margin (NIM) for Q4 FY24 stood at 4.26% against 4.28% for Q4 FY23 and 4.29% for Q3 FY24. The bank's pre provision operating profit (PPOP) stood at Rs 4,082 crore for the March quarter, up 9% from Rs 3,758 crore reported in Q4 FY23. PPOP/average advances ratio for the quarter ended 31 March 2024 came in at 5.10%. Operating expenses during the quarter was at Rs 3,803 crore, registering a growth of 24% YoY. On asset quality front, the bank's gross non-performing assets (NPAs) stood at Rs 6,693.38 crore as on 31 March 2024 as against Rs 6,377.05 crore as on 31 December 2023 and Rs 5,826.27 crore as on 31 March 2023. The gross NPA were at 1.92% of gross advances as on 31 March 2024 as against 1.98% as on 31 March 2023. The net NPA stood at 0.57% of net advances as on 31 March 2024 as compared to 0.59% as on 31 March 2023. The provision coverage ratio was consistent at 71% as at 31 March 2024. Provisions and contingencies for the quarter ended 31 March 2024 were Rs 3,885 crore as compared to Rs 4,487 crore for the corresponding quarter of previous year, reduced by 13% YoY. Total loan related provisions as on 31 March 2024 were at Rs 7,210 crore (2.1% of loan book). Deposits as on 31 March 2024 were Rs 3,84,586 crore as against Rs 3,36,120 crore, an increase of 14% YoY. CASA deposits increased to Rs 1,45,666 crore with current account deposits at Rs 46,989 crore and savings account deposits at Rs 98,676 crore. CASA deposits comprised 38% of total deposits as at 31 March 2024. Advances as of March 2024 were Rs 3,43,298 crore as against Rs 2,89,924 crore, an increase of 18% over March 2023. The bank?s total capital adequacy ratio as per Basel III guidelines stands at 17.23% as on 31 March 2024, as compared to 17.86% as on 31 March 2023. Tier 1 CRAR was at 15.82% as on 31 March 2024 compared to 16.37% as on 31 March 2023. Risk-weighted assets were at Rs 3,83,660 crore as against Rs 3,37,036 crore a year ago. On full year basis, the company?s consolidated net profit jumped 20.61% to Rs 8,977.30 crore on 23.81% increase in total income to Rs 55,143.98 crore in FY24 over FY23. Sumant Kathpalia, managing director & CEO, IndusInd Bank said, ?IndusInd Bank completed yet another year with robust financial performance. Financial year 2023-24 saw a healthy loan growth of 18% supported by a deposit growth of 14%. The asset quality remains healthy with stable NNPAs of 0.57%. The bank delivered annual profit of Rs 8,977 crore for the year growing 21% YoY. As the Indian economy continues to be a bright spot amongst major economies, I am confident that the bank should continue to progress on its journey of growth, granularity and governance.? Meanwhile, the bank?s board has recommended a dividend of Rs 16.50 per equity share for FY24. IndusInd Bank caters to both consumer and corporate customers. As of 31 March 2024, the Bank?s distribution network included 2,984 branches/ Banking outlets and 2,956 onsite and offsite ATMs, as against 2,606 branches/ banking outlets and 2,878 onsite and offsite ATMs as of 31 March 2023. The client base stood at approximately 39 million as on 31 March 2024. The scrip rose 1.46% to settle at Rs 1,496.15 on the BSE.
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On a year on year (YoY) basis, Tech Mahindra's net profit dropped 40.86% while revenue fell 6.17% in Q4 FY24. EBITDA stood at Rs 1,407.8 crore in the quarter ended 31 March 2024, up 22.8% QoQ and down 30.3% YoY. EBITDA margin was at 10.9% in Q4 FY24 as compared to 8.8% in Q3 FY24 and 14.7% in Q4 FY23. In terms of dollars (USD), revenue stood at $1,548.2 million in Q4 FY24, registering a de-growth of 1.6% QoQ and 7.2% YoY. In constant currency terms, revenue declined by 0.8% QoQ and down 6.4% YoY. Profit after tax was at $79.7 million, up 29.5% QoQ and down 41.5% YoY. Free cash flow was at $129 million in the March quarter. During the quarter, EBITDA was at $169.2 million, up 22.9% QoQ and down 31.1% YoY. EBITDA margin came in at 10.9% in Q4 FY24, up 220 bps QoQ. The IT firm secured net new deals worth $500 million in Q4 FY24 as against $381 million in Q3 FY24 and $592 million reported in Q4 FY23. Total headcount was at 145,455, registering a decline of 1% QoQ and 4.6% YoY. The last twelve month (LTM) IT attrition rate was constant at 10% in Q4 FY24 as compared to Q3 FY24, while in Q4 FY23 attrition rate was 15%. On full year basis, the company?s consolidated net profit tumbled 51.2% to Rs 2357.8 crore on 2.43% decline in revenue to Rs 51,995.5 crore in FY24 over FY23. Cash and cash equivalent was at Rs 7,911.5 crore as of 31 March 2024, compared with Rs 7,012.3 crore as of 31 December 2023 and Rs 7,435.1 crore as of 31 March 2023. Rohit Anand, CFO of Tech Mahindra said, ?With another quarter of robust cash generation, we have reported improvement in deal wins and operating margins in Q4FY'24, which has enabled consistent dividend distribution. We are confident that our actions will lead to steady earnings growth in the coming years. We will continue to focus on operational excellence and cost savings to deliver superior shareholder returns.? Meanwhile, the company?s board has recommended a final dividend of Rs 28 per equity share for FY24. The dividend, if approved, will be paid on or before, 9 August 2024. Tech Mahindra is focused on leveraging next-generation technologies including 5G, blockchain, cybersecurity, artificial intelligence, and more, to enable end-to-end digital transformation for global customers. Shares of Tech Mahindra added 0.34% to end at Rs 1,190.10 on the BSE.
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| Revenue from operations increased 4.26% to Rs 1,439.67 crore in Q4 FY24 as compared with Rs 1380.90 crore posted in corresponding quarter last year. The said growth was driven by continued strength in FDF and good sequential recovery across CDMO, API business. Profit before tax fell 27.1% YoY to Rs 107.27 crore in Q4 FY24. EBITDA fell 10% to Rs 259 crore in Q4 FY24 from Rs 287 crore posted in Q4 FY23.EBITDA margin reduced by 280 bps to 18% in Q4 FY24 as against 20.8% in Q4 FY23. Research and development (R&D) spends reported at Rs 69 crore and around 4.8% of revenues; Higher spends over last year partly due to additional spend towards CGT space. The pharma company?s formulation business grew 9% to Rs 430 crore in the quarter ended 31 March 2024 as compared with Rs 393 crore in the quarter ended 31 March 2023. Income from API business jumped 4% YoY to Rs 745 crore, supported from growth across franchise despite continuing pricing pressure in other APIs segment. As on 31 March 2024, the company has filed 342 patents out of that 228 patents granted. Cumulative DMFs filings stood at 83. In Q4 FY24, CDMO-Synthesis business reported revenue of Rs 236 crore, up 4% YoY. Bio-transformation & Continuous Flow platform witnessed strong customer interest driven by rising complexity, faster time to market further fueled by increasing sustainability pressure. Revenue from Laurus Bio division tumbled 37% YoY to Rs 29 crore, mainly transitionary in nature due to customer order cyclicality. Meanwhile, the company?s board has declared a dividend of Rs 0.40 per share of face value of Rs 2 each for financial year 2023-2024. It has fixed 8 May 2024 as record date for determining the eligibility of the shareholders. The dividend amount will be paid on or after 17 May 2024. Satyanarayana Chava , founder and chief executive officer, said, ?Laurus core results reflects continued resilience across our business divisions despite discontinuation of Covid related products purchase orders. We delivered underlying revenue growth of 9% driven by strong performance in FDF, CDMO, Onco API and Bio division. In the CDMO space, we are delivering on multiple RFPs involving higher chemical complexity and scale with increased customer engagement focusing on several sustainable technology platforms. Our on-going innovative CGT investment continue to report significant updates for the period under review, especially successful NexCAR19 commercial launch in India to treat cancers We are entering FY25 with solid foundation and remain committed to grow by focusing on R&D led commercial excellence. We are prioritizing efforts to improve margin, particularly increasing asset utilization across network and delivering late phase commercial opportunity.? V.V. Ravi Kumar, executive director & chief financial officer, said, ?Overall FY24 reported operating result was challenging driven by selling price decline in ARV products, absence of large PO, and continued OPEX on growth projects/new initiatives. We achieved Rs 5,041 crore in revenues, representing 17% decline. Excluding the large PO the underlying growth was 9% over last year. Gross margin was 51.7% and EBITDA at Rs 798 crore resulting in 15.8% margin. The EBIDTA margin for the Q4FY24 is at 18.0% and reflecting sequential improvement. Despite operational challenges, our committed capacity built-up is on track and continuing our focus on productivity improvement. Going ahead, we are fully focusing on gradually returning to growth, prioritising investments in high value segments, improving Net debt leverage while defining our strategic roadmap to ensure long-term profitable and sustainable growth.? Laurus Labs is a fully integrated pharmaceutical and biotechnology company, with a leadership position in generic active pharmaceutical ingredients (APIs) and a major focus on anti-retroviral, oncology drugs, cardiovascular, gastro and hepatitis C therapeutics. The company also develops and manufactures oral solid formulations, provide contract research and manufacturing services (CRAMS) to global pharma companies.
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| Revenue from operations grew by 12.9% year on year (YoY) to Rs 5,408.72 crore in the quarter ended 31 March 2024. Clinker & cement sales volume increased by 23.5% YoY at 10.4 million tonne during the March 2024 quarter. Ready mix concrete registered a decline of 7.04% YoY in volume to 0.66 million cubic meters, during the period under review. Profit before tax in fourth quarter of FY24 soared 167.10% to Rs 885.04 crore from Rs 331.35 crore recorded in corresponding quarter previous year. In Q4 FY24, operating EBITDA increased 78.46% to Rs 837 crore from Rs 469 crore posted in same quarter last year while EBITDA margin improved to 15.5% from 9.8% posted in Q4 FY23. On outlook front, the cement maker said that cement industry remains positive based on higher budgetary allocation to infrastructure and construction and government?s push for affordable housing along with green energy transition, demand-supply dynamics, and greater consolidation. Adani Cement will have the advantage of accelerated growth, lower cost, group synergies which in turn will help to sustainable performance & market leadership. On a full year basis, the company?s net profit soared by 163.98% to Rs 2,336.37 crore in FY24 over FY23. However, revenue from operation declined 10.14% YoY to Rs 19,958.92 crore in the financial year ended 31 March 2024. Ajay Kapur, whole time director & CEO, said, ?We continue to solidify our position as a frontrunner in the cement industry. Our financial performance with jump in EBITDA by 138% during the year is a testament to the flexibility and strong foundation of our business model. The trust of our customers and our commitment to building a sustainable future with investment in efficiency improvements, green power etc. has furthered our success, as we emerge even stronger than before. With passing time ACC is getting younger and stronger with the expansion and performance efficiency plans.? Cash & cash equivalent stood at Rs 4,667 crore and consolidated net worth improved by Rs 2,191 crore to reach Rs 16,333 crore as on 31 March 2024. Meanwhile, the board has recommended a dividend of Rs 7.50 per equity share for the financial year 2023-24, subject to approval of shareholders. The company has fixed 14 June 2024 as ?record date? for the said dividend and it shall be paid on or after 1 July 2024. ACC is a part of Adani Cement and one of India's leading producers of cement and ready-mix concrete. ACC has 16 cement manufacturing sites, over 85 concrete plants and a nationwide network of channel partners to serve its customers. The scrip settled 0.85% higher at Rs 2,579.70 on the BSE.
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The miner reported revenue of Rs 34,937 crore in March 2024 quarter, registering a de-growth of 6.15% YoY. EBITDA de-grew 4% YoY to Rs 8,969 crore while EBITDA margin in Q4 FY24 improved to 30% as against 29% posted in Q4 FY23. Depreciation & amortisation for Q4 FY24 declined by 1% YoY to Rs 2,743 crore, mainly in oil and gas partially offset by increased ore production at Zinc India. Investment Income for fourth quarter of FY24 slipped by 43% to Rs 543 crore as compared to Rs 958 crore posted in Q4 FY23. The company's gross debt stood at Rs 71,759 crore while net debt was Rs 56,338 crore on 31 March 2024. Cash and cash equivalents position remained healthy at Rs 15,421 crore. The company follows a board-approved investment policy and invests in high quality debt instruments with mutual funds, bonds, and fixed deposits with banks. For financial year 2024, the diversified metals company reported 59.91% decline in consolidated net profit to Rs 4,239 crore on 2.48% fall in revenue from operations to 1,41,793 crore over FY23. Arun Misra, executive director of Vedanta, said ?FY 2023-24 has been a remarkable year for Vedanta. We have achieved record production across our key businesses, a testament to our consistent focus on operational excellence. This focus, coupled with our commitment to cost leadership, ensured strong margins even during a challenging commodity market. HZL is now the world's 3rd largest silver producer. This focus is further strengthened by securing 1,826 MW of renewable power through PDAs, with the first power delivery scheduled for Q1 FY25. As we move forward, operational excellence, continued growth, and ESG leadership remains our strategic priorities.? Ajay Goel, chief financial officer (CFO) of Vedanta, said ?Driven by operational excellence, Vedanta achieved outstanding financial results, marking the second highest annual revenue and EBITDA in our history, reaching Rs 1,41,793 crore and Rs 36,455 crore respectively. Through continued cost optimization, we achieved a remarkable EBITDA margin of 30% in FY24 with 240 basis points annual margin expansion, underscoring our efficiency and agility. Moreover, our net debt/EBITDA ratio improved to 1.5x from 1.7x in December 2023. At Holdco, we deleveraged by $1.6bn in FY24 & through successful liabilities management, Vedanta has a balanced capital structure, and will remain committed towards value creation.? Vedanta, a subsidiary of Vedanta Resources, is one of the world's leading oil & gas and metals company with significant operations in oil & gas, zinc, lead, silver, copper, iron ore, steel, and aluminium & power across India, South Africa and Namibia. The scrip closed 0.64% lower at Rs 380.80 on the BSE.
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