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| As on Apr 19, 2024 12:00 AM |
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| The joint venture company shall carry out business in the field of power generation from all renewable energy sources including Hydro Power by setting up power plants. SJVN Green Energy will hold 51% in SGEL Assam Renewable Energy. <{P> SJVN is engaged in electricity generation. The company is also engaged in the business of providing consultancy. The company?s consolidated net profit dropped 51.65% to Rs 138.97 crore on 1.57% decline in revenue from operations to Rs 543.31 crore in Q3 FY24 over Q3 FY23. The scrip rose 0.35% to Rs 127.85 on Thursday, 18 April 2024.
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| Revenue from operations declined 2.31% to Rs 37,923 crore in Q4 FY24 as compared with Rs 38,821 crore in Q3 FY24. Year on year basis, the company?s net profit jumped 30.01% while revenues increase 1.29% as compared with Q4 FY23. During the quarter, operating profit was Rs 7,621 crore, down 4.3% QoQ and 3.2% YoY. Operating margin for the quarter was 20.1%, a sequential decrease of 40 bps. In dollar terms, the IT firm reported revenues of $4,564 million (down 2.1% QoQ and up 0.2% YoY) for the quarter ended 31 March 2024. In constant currency terms, the company's revenue has declined by 2.2% QoQ and YoY growth remained flat during the period under review. In Q4 FY24, free cash flow (FCF) was Rs 7,032 crore, registering a YoY growth of 20.33%. The total contract value (TCV) of large deal wins was $4.5 billion in Q4 FY24, with net new of 44%. The company had 1,882 active clients as of 31 March 2024 as compared with 1,872 active clients as of 31 December 2023 and 1,872 as on 31 March 2023. Total headcount as on 31 March 2024 was 3,17,240. Last twelve months IT services attrition rate slipped to 12.6% as of 31 March 2024 as compared with 12.9% as of 31 December 2023 and 20.9% as on 31 March 2023. In terms of guidance, the company has revised its FY25 revenue guidance to 1%-3% in constant currency and operating margin guidance at 20%-22%. On FY24 basis, the company?s net profit increased 8.8% to Rs 26,248 crore in FY24 as compared with Rs 24,108 crore in FY23. Revenue from operations rose 4.7% YoY to Rs 1,53,670 crore in FY24. Salil Parekh, CEO and MD, said, ?We delivered the highest ever large deal value in the financial year 2024. This reflects the strong trust clients have in us. Our capabilities in Generative AI continue to expand. We are working on client programs, leveraging large language models with impact across software engineering, process optimization, and customer support.? Jayesh Sanghrajka, CFO, said, ?Free cash flow of $848 million in Q4 was highest in the last 11 quarters driven by our relentless focus to improve working capital cycle. Consistent with the objective of giving high and predictable returns to shareholders, the Board has approved the capital allocation policy under which the company expects to return 85% over the next 5 years and progressively increase annual Dividend Per Share. Operating margin expansion in the medium-term and improving cash generation continue to remain our priorities underpinned by early success in Project Maximus.? Meanwhile, the company?s board has a signed definitive agreement to acquire in-tech, a leading Engineering R&D services provider focused on German automotive industry. This strategic investment further strengthens the company?s engineering R&D capabilities and reaffirms its continued commitment to global clients to navigate their digital engineering journey. The company will acquire 100% stake in in-Tech for total consideration of EUR 450 million, includes upfront and earnouts, excluding management incentives, and retention bonus. The said acquisition is expected to close during first half of fiscal year 2025. Further, the company's board has declared dividend of Rs 20 per equity share for financial year ended 31 March 2024 and additionally a special dividend of Rs 8 per equity share. Furthermore, the board has also approved the capital allocation policy for the next 5 years from FY25 ? FY29 after taking into consideration the strategic and operational cash requirements, ?Effective from financial year 2025, the company expects to continue its policy of returning approximately 85% of the free cash flow cumulatively over a 5-year period through a combination of semi-annual dividends and/or share buyback/ special dividends subject to applicable laws and requisite approvals, if any.? Infosys is a global leader in next-generation digital services and consulting. The scrip rose 0.41% to end at Rs 1,420.55 on Thursday, 18 April 2024.
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The revenue growth was led by the broad based buoyancy that was sustained on the domestic business and aided by steady exports, notwithstanding the continued challenges in overseas markets. Profit before tax was at Rs 2,541.57 crore in Q4 FY24, registering a growth of 34.72% from Rs 1886.50 crore posted in Q4 FY23. EBITDA climbed 34% year on year to Rs 2,307 crore in the quarter ended 31 March 2024. EBITDA margin improved to 20.1% in Q4 FY24 as compared to 19.3% recorded in the same period a year ago. The company said that the dynamic management of the business enabling margin to be held steady despite significant investments on expanding electric scooters. The auto maker?s total auto sales jumped 24% YoY to 10,68,576 units in the quarter ended 31 March 2024. During the period under review, domestic sales surged 28% while exports grew 19%. On full year basis, Bajaj Auto?s standalone net profit grew 32.89% to Rs 7,478.79 crore on 22.67% rise in revenue to Rs 44685.23 crore in FY24 over FY23. ?The consistent growth across all quarters (with quarterly highs on 3/4) reflected the resilient business model, where a strong domestic performance more than made up for muted exports which continued to be impacted by the challenging context in overseas markets,? the company stated in the press release. Meanwhile, the company?s board has approved a final dividend of Rs 80 per share for FY24. The record date for the dividend is Friday, 14 June 2024. The dividend, if approved by the shareholders at the ensuing annual general meeting, will be credited/ dispatched on or around 19 July 2024. Bajaj Auto is engaged in the business of development, manufacturing and distribution of automobiles such as motorcycles, commercial vehicles, electric two-wheelers etc. and parts thereof. Shares of Bajaj Auto rose 1.11% to settle at Rs 9017.75 on the BSE.
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| HDFC Life Insurance Company rose 1.30% to Rs 612.30 after the company?s standalone net profit jumped 14.77% to Rs 411.66 crore on 5.46% rise in net premium income to Rs 20,488.11 crore in Q4 FY24 over Q4 FY23. Net income from investments stood at Rs 7,251.41 crore in Q4 FY24, steeply higher from Rs 1,189.52 crore in Q4 FY24. Profit before tax stood at Rs 449.71 crore in Q4 FY24, registering a growth of 66.70% as against Rs 269.77 crore posted in the corresponding quarter previous year. On full year basis, the company?s net profit jumped 15.34% to Rs 1,568.86 crore on 9.15% increase in net premium income to Rs 61,959.22 crore in FY24 over FY23. Assets under management (AuM) jumped 22% YoY to Rs 2,92,200 crore in FY24 as compared to Rs 2,38,782 crore posted in FY23. The value of new business (VNB) declined 5% to Rs 3,501 crore in FY24 from Rs 3,674 crore posted in FY23. The company's Indian embedded value (IEV) in FY24 was at Rs 47,468 crore, registering a growth of 20% YoY. The life insurer's new business margin fell to 26.3% in FY24 as against 27.6% recorded in FY23. The solvency ratio slipped to 187% in FY24 from 203% recorded in FY23. Vibha Padalkar, MD & CEO said, ?Despite the budget changes impacting high ticket sized business this year, we delivered a healthy growth of 20% for Q4 after adjusting for the one-off business of Rs 1,000 crore in March 2023. Our stated aspiration of a double-digit growth for the full year was achieved with us clocking an 11% growth for FY24, on a normalised basis. We achieved individual APE growth of 1% on an unadjusted basis. Renewal collections grew by 18% YoY, demonstrating our customers' continued trust in us. Persistency for the 13th month and 61st month was 87% and 53% respectively. FY24 has been another landmark year for product launches, fuelled by relentless innovation and a desire to help meet our customers? evolving requirements. Click2Achieve, our first DIY non-par savings solution has been received well across channels, leading to a healthy increase in the non-par savings proportion in the last quarter. Our new business margins are 26.3%. Value of new business is Rs. 3,501 crore, implying a 2 year CAGR of 14%. Embedded value stands at Rs 47,468 crore, with an operating return on embedded value of 17.5%. We have delivered a strong profit after tax of Rs 1,569 crore, implying a YoY increase of 15%, fuelled by 18% increase in profit emergence from back book. Solvency continues to be healthy at 187%. In addition to business developments, we would like to inform that Deepak Parekh has decided to step down as the chairman and non-executive director of the company with effect from close of business hours on April 18, 2024. Being the founder chairman of our company, Parekh has been instrumental in guiding and nurturing the company over the past 24 years. We thank Parekh for the immense contributions made by him and wish him the very best for the future. We are also pleased to inform that the Board has unanimously approved the appointment of Keki M Mistry as the chairman of the board Keki M Mistry has been associated with the company since December 2000 and is currently a non-executive director on our board. Under his stewardship, we aim to achieve many more remarkable milestones and emerge stronger and more resilient than ever before. Meanwhile, the company has declared a final dividend of Rs 2 per equity share for FY24. The record date for the purpose of ascertaining the entitlement of the shareholders is fixed on Friday, 21 June 2024. The payment of final dividend will be made on or after July 20, 2024. HDFC Life Insurance Company is a joint venture between HDFC, India's leading housing finance institution and Abrdn (Mauritius Holdings) 2006, a global investment company. HDFC Life is a leading long-term life insurance solutions provider in India, offering a range of individual and group insurance solutions that meet various customer needs such as protection, pension, savings, investment, annuity and health.
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Indraprastha Gas Ltd, Max Healthcare Institute Ltd, Aegis Logistics Ltd and Cartrade Tech Ltd are among the other losers in the BSE's 'A' group today, 18 April 2024. Sterlite Technologies Ltd lost 7.84% to Rs 131.15 at 14:46 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 8.34 lakh shares were traded on the counter so far as against the average daily volumes of 5.78 lakh shares in the past one month. Indraprastha Gas Ltd tumbled 5.32% to Rs 438. The stock was the second biggest loser in 'A' group.On the BSE, 1.59 lakh shares were traded on the counter so far as against the average daily volumes of 1.56 lakh shares in the past one month. Max Healthcare Institute Ltd crashed 4.74% to Rs 779.2. The stock was the third biggest loser in 'A' group.On the BSE, 1.1 lakh shares were traded on the counter so far as against the average daily volumes of 1.25 lakh shares in the past one month. Aegis Logistics Ltd dropped 4.68% to Rs 501.35. The stock was the fourth biggest loser in 'A' group.On the BSE, 2.07 lakh shares were traded on the counter so far as against the average daily volumes of 1.37 lakh shares in the past one month. Cartrade Tech Ltd pared 3.95% to Rs 670.5. The stock was the fifth biggest loser in 'A' group.On the BSE, 5258 shares were traded on the counter so far as against the average daily volumes of 6893 shares in the past one month.
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Polo Queen Industrial and Fintech Ltd, Sadbhav Engineering Ltd, Coffee Day Enterprises Ltd and Starlineps Enterprises Ltd are among the other losers in the BSE's 'B' group today, 18 April 2024. Krystal Integrated Services Ltd crashed 14.45% to Rs 833.9 at 14:31 IST.The stock was the biggest loser in the BSE's 'B' group.On the BSE, 1.07 lakh shares were traded on the counter so far as against the average daily volumes of 1.17 lakh shares in the past one month. Polo Queen Industrial and Fintech Ltd lost 10.00% to Rs 54.09. The stock was the second biggest loser in 'B' group.On the BSE, 79704 shares were traded on the counter so far as against the average daily volumes of 41319 shares in the past one month. Sadbhav Engineering Ltd tumbled 6.33% to Rs 30.31. The stock was the third biggest loser in 'B' group.On the BSE, 7.84 lakh shares were traded on the counter so far as against the average daily volumes of 10.52 lakh shares in the past one month. Coffee Day Enterprises Ltd fell 6.13% to Rs 65.79. The stock was the fourth biggest loser in 'B' group.On the BSE, 9.86 lakh shares were traded on the counter so far as against the average daily volumes of 12.53 lakh shares in the past one month. Starlineps Enterprises Ltd corrected 5.15% to Rs 116.31. The stock was the fifth biggest loser in 'B' group.On the BSE, 2867 shares were traded on the counter so far as against the average daily volumes of 10933 shares in the past one month.
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Mastek Ltd, Aether Industries Ltd, ICICI Lombard General Insurance Company Ltd, C.E. Info Systems Ltd are among the other stocks to see a surge in volumes on NSE today, 18 April 2024. Just Dial Ltd clocked volume of 89.76 lakh shares by 14:14 IST on NSE, a 45.95 times surge over two-week average daily volume of 1.95 lakh shares. The stock gained 14.06% to Rs.1,016.40. Volumes stood at 1.94 lakh shares in the last session. Mastek Ltd witnessed volume of 5.66 lakh shares by 14:14 IST on NSE, a 13.36 times surge over two-week average daily volume of 42336 shares. The stock increased 8.56% to Rs.2,803.65. Volumes stood at 29476 shares in the last session. Aether Industries Ltd notched up volume of 3 lakh shares by 14:14 IST on NSE, a 7.16 fold spurt over two-week average daily volume of 41933 shares. The stock rose 0.83% to Rs.844.65. Volumes stood at 39171 shares in the last session. ICICI Lombard General Insurance Company Ltd recorded volume of 45.95 lakh shares by 14:14 IST on NSE, a 6.93 times surge over two-week average daily volume of 6.63 lakh shares. The stock gained 4.51% to Rs.1,723.00. Volumes stood at 17.09 lakh shares in the last session. C.E. Info Systems Ltd clocked volume of 2.79 lakh shares by 14:14 IST on NSE, a 6.91 times surge over two-week average daily volume of 40419 shares. The stock gained 5.33% to Rs.1,950.00. Volumes stood at 33300 shares in the last session.
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Among the components of the S&P BSE FMCG Sector index, Nestle India Ltd (down 3.81%), M K Proteins Ltd (down 1.97%),Mrs Bectors Food Specialities Ltd (down 1.8%),Bannari Amman Sugars Ltd (down 1.51%),Dodla Dairy Ltd (down 1.37%), were the top losers. Among the other losers were Britannia Industries Ltd (down 1.24%), Colgate-Palmolive (India) Ltd (down 1.21%), Patanjali Foods Ltd (down 1.09%), ITC Ltd (down 0.86%), and Vadilal Industries Ltd (down 0.72%). On the other hand, VST Industries Ltd (up 5.21%), Manorama Industries Ltd (up 4.68%), and Som Distilleries & Breweries Ltd (up 4.37%) turned up. At 13:41 IST, the S&P BSE Sensex was up 4.71 or 0.01% at 72948.39. The Nifty 50 index was up 5 points or 0.02% at 22152.9. The S&P BSE Small-Cap index was up 430.45 points or 0.95% at 45854.43. The S&P BSE 150 Midcap Index index was up 105.33 points or 0.77% at 13779.26. On BSE,2385 shares were trading in green, 1347 were trading in red and 161 were unchanged.
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Among the components of the S&P BSE BANKEX index, Axis Bank Ltd (up 2.36%), ICICI Bank Ltd (up 0.92%), HDFC Bank Ltd (up 0.62%), IndusInd Bank Ltd (up 0.57%), and State Bank of India (up 0.38%), were the top losers. On the other hand, Bank of Baroda (up 2.47%), AU Small Finance Bank Ltd (up 2.39%), and IDFC First Bank Ltd (up 1.2%) turned up. At 13:41 IST, the S&P BSE Sensex was up 4.71 or 0.01% at 72948.39. The Nifty 50 index was up 5 points or 0.02% at 22152.9. The S&P BSE Small-Cap index was up 430.45 points or 0.95% at 45854.43. The S&P BSE 150 Midcap Index index was up 105.33 points or 0.77% at 13779.26. On BSE,2385 shares were trading in green, 1347 were trading in red and 161 were unchanged.
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Among the components of the S&P BSE Healthcare index, Sun Pharma Advanced Research Company Ltd (down 4.99%), Max Healthcare Institute Ltd (down 4%),Narayana Hrudayalaya Ltd (down 2.84%),Vijaya Diagnostic Centre Ltd (down 2.35%),Alembic Pharmaceuticals Ltd (down 2.31%), were the top losers. Among the other losers were Apollo Hospitals Enterprise Ltd (down 2.27%), Suven Life Sciences Ltd (down 2.02%), Marksans Pharma Ltd (down 1.98%), Dr Lal Pathlabs Ltd (down 1.91%), and Metropolis Healthcare Ltd (down 1.67%). On the other hand, Solara Active Pharma Sciences Ltd (up 12.49%), NGL Fine Chem Ltd (up 11.07%), and Aarti Pharmalabs Ltd (up 6.65%) moved up. At 13:41 IST, the S&P BSE Sensex was up 4.71 or 0.01% at 72948.39. The Nifty 50 index was up 5 points or 0.02% at 22152.9. The S&P BSE Small-Cap index was up 430.45 points or 0.95% at 45854.43. The S&P BSE 150 Midcap Index index was up 105.33 points or 0.77% at 13779.26. On BSE,2385 shares were trading in green, 1347 were trading in red and 161 were unchanged.
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| In a joint investigation between Public Eye and International Baby Food Action Network (IBFAN) sent baby food samples in Asia, Latin America, and Africa from Nestle to a testing laboratory in Belgium. The study said that Nestle added the sugar equivalent to an average of 4 gram per sugar cube in wheat-based cereals, Cerelac. It is made for children aged between six months and two years. The same product is being sold with no added sugar in Germany and the UK, while in Ethiopia and Thailand, it contains nearly 6 grams, the study said. The said finding raised concern about the FMCG major?s adherence to international guidelines aimed at curbing obesity and chronic diseases. Nestl? is the world's largest food and beverage company. It manufactures internationally famous brand names such as Nescaf?, Maggi, Milkybar, Kit Kat, Bar-One, Milkmaid and Nestea. The FMCG major's net profit increased 4.39% to Rs 655.61 crore on 8.07% rise in total revenue from operations to Rs 4,600.42 crore in Q4 CY23 over Q4 CY22. Total sales increased by 8.28% year on year to Rs 4,583.63 crore in the fourth quarter of 2023. During the quarter, domestic sales grew by 8.86%, while export sales fell and 5.59%.
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Total income declined marginally to Rs 5,161.73 crore in Q4 FY24 as against Rs 5,255.58 crore recorded in the corresponding quarter last year. Profit before tax stood at Rs 697.79 crore in the fourth quarter of FY24, registering a growth of 21.88% from Rs 572.51 crore posted in Q4 FY23. Gross Direct Premium Income (GDPI) of the company was at Rs 6,073 crore in Q4 FY24, up 22% from Rs 4,977 crore in Q4 FY23. This growth was higher than the industry growth of 9.5%. Excluding crop and mass health, GDPI growth of the company was at 22%, which was higher than the industry growth of 13.8% in Q4 FY2024, said the firm. Combined ratio stood at 102.2% in Q4 FY24 as against 104.2% reported in the same period a year ago. Capital gains were at Rs 156 crore in Q4 FY24, up 1.89% as against Rs 159 crore posted in Q4 FY23. Return on average equity (ROAE) was 17.8% in the March quarter as compared to 17.2% reported in Q4 FY23. On full year basis, the company's net profit increased 10.96% to Rs 1,918.59 crore on 9.16% increase in total income to Rs 19,752.11 crore in FY24 over FY23. Solvency ratio was 2.62x at 31 March 2024 as against 2.57x at 31 December 2023 and higher than the minimum regulatory requirement of 1.50x. Solvency ratio was 2.51x at 31 March 2023. Meanwhile, the firm?s board has recommended a final dividend of Rs 6 per equity share for the financial year ended 31 March 2024, subject to approval of the members of the company. ICICI Lombard is India's largest private sector general insurance company based on gross direct premium. The company offers a comprehensive range of products through multiple distribution channels, including motor, health, crop, fire, personal accident, marine, engineering, and liability insurance. Its parent - ICICI Bank, which is one of the largest private sector banks in the country, holds 51.27% stake in the company as of 31 March 2024.
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| Jubilant Generics (JGL) is subsidiary of Jubilant Pharma, which is wholly owned subsidiary of Jubilant Pharmova. The United States Food and Drug Administration (USFDA) inspected JGL?s solid dosage manufacturing facility at Roorkee in India from 25 January to 2 February 2024. Based on this inspection and the USFDA VAI classification, the facility is considered to be in acceptable state of compliance with regard to current good manufacturing practices (cGMP). With this, the FDA has concluded that this inspection is ?closed?. Meanwhile, the pharma company informed that its subsidiary, Jubilant Cadista Pharmaceuticals Inc., USA has decided to close the manufacturing operations of its solid dosage formulation facility at Salisbury, Maryland, USA. The expected date of cessation of manufacturing operation and first separations at the said facility will be on 17 June 2024. However, Jubilant Cadista will continue the sales and marketing operations for US market. The said facility manufactures tablets and capsules for the US market and has the capacity to serve 1.5 billion doses. Over the last few years the US Generics market has been witnessing significant pricing pressure leading to significant losses at Jubilant Cadista since FY2022 onwards. In order to move the US generics business to profitability, the company decided to change the operating model from in-house manufacturing to outsourced manufacturing by selected USFDA approved CMOs for the US market. Further, the company expects the exports from the Roorkee facility to the US market to increase in a meaningful and gradual manner. As of now the facility, was exporting only one product, Risperidone to the US market. These actions are expected to improve the gross margins of the generics business by reducing manufacturing, quality management and overhead costs, which will drive the generics business towards profitability. Lastly, the generics business has plans to scale up revenues in the US market through launch of new products. Jubilant Cadista shall continue to explore various options to utilize or sell the said facility?s land, building and plant & machinery in the due course, stated the drug maker. Jubilant Pharmova is engaged in radiopharma, allergy immunotherapy, CDMO of sterile injectable, generics, contract research development and manufacturing (CRDMO) and proprietary novel drugs businesses. The pharmaco has reported a net profit of Rs 66 crore in Q3 FY24 as against a net loss of Rs 16 crore in Q3 FY23. Total income increased by 10% YoY to Rs 1,713 crore during the period under review.
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National Aluminium Company Ltd is up for a third straight session today. The stock is quoting at Rs 185.15, up 1.2% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.69% on the day, quoting at 22300.85. The Sensex is at 73369.8, up 0.58%. National Aluminium Company Ltd has gained around 35.05% in last one month. Meanwhile, Nifty Metal index of which National Aluminium Company Ltd is a constituent, has gained around 13.7% in last one month and is currently quoting at 8851.95, up 1.78% on the day. The volume in the stock stood at 92.55 lakh shares today, compared to the daily average of 282.5 lakh shares in last one month. The benchmark April futures contract for the stock is quoting at Rs 184.85, up 1.09% on the day. National Aluminium Company Ltd is up 120.68% in last one year as compared to a 26.57% jump in NIFTY and a 55.88% jump in the Nifty Metal index. The PE of the stock is 21.44 based on TTM earnings ending December 23.
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Saregama India Ltd is up for a third straight session in a row. The stock is quoting at Rs 427.7, up 3.46% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.69% on the day, quoting at 22300.85. The Sensex is at 73369.8, up 0.58%. Saregama India Ltd has risen around 20.7% in last one month. Meanwhile, Nifty Media index of which Saregama India Ltd is a constituent, has risen around 6.05% in last one month and is currently quoting at 1875.15, up 1.71% on the day. The volume in the stock stood at 10.57 lakh shares today, compared to the daily average of 5.77 lakh shares in last one month. The PE of the stock is 44.3 based on TTM earnings ending December 23.
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Samvardhana Motherson International Ltd is up for a fifth straight session today. The stock is quoting at Rs 129.45, up 4.19% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.73% on the day, quoting at 22309.8. The Sensex is at 73391.73, up 0.61%. Samvardhana Motherson International Ltd has gained around 16.46% in last one month. Meanwhile, Nifty Auto index of which Samvardhana Motherson International Ltd is a constituent, has gained around 7.72% in last one month and is currently quoting at 21703.05, up 1.03% on the day. The volume in the stock stood at 376.44 lakh shares today, compared to the daily average of 138.7 lakh shares in last one month. The benchmark April futures contract for the stock is quoting at Rs 129.4, up 3.73% on the day. Samvardhana Motherson International Ltd is up 87.61% in last one year as compared to a 26.63% jump in NIFTY and a 68.63% jump in the Nifty Auto index. The PE of the stock is 128.09 based on TTM earnings ending December 23.
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The agency has also upgraded Permanent Magnets? short-term rating to ?ACUITE A3? from 'ACUITE A4+?. Acuit? Ratings said that the rating has been upgraded considering PML?s sustained improvement in the operating performance along with a healthy financial risk profile. The financial risk profile is healthy marked by healthy net worth, low gearing and comfortable debt protection metrics. Further, the debt protection metrics of the company are comfortable with Interest coverage ratio (ICR) and Debt service coverage ratio (DSCR) of 35.41 times and 27.68 times as of 31 March 2023. The rating further continues to factor in the long standing experience of the management and PML?s established track record of operations. The rating however remains constrained due to intensive working capital operations, high reliance on non-fund-based working capital limits. Mumbai-based Permanent Magnets is engaged in manufacturing of Alnico (Aluminium, Nickel and Cobalt) Magnets & Magnetic assemblies, parts and accessories of Electricity Meters, Gas Meters and Electrical vehicles.
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| The unsecured, non-convertible, non-cumulative, redeemable, taxable POWERGRID bonds will be issued in one or more tranches / series. Further, the power ? transmission firm has been declared as the successful bidder under tariff based competitive bidding to establish inter-state transmission system for three projects on build, own operate and transfer (BOOT) basis. Additionally, the company has also received letters of Intent (LoI) for the same projects. The first project comprises establishment of new 765/400/220 kV pooling substation at Mandsaur, 765kV D/C transmission line and associated bays extension works at other existing substation in Madhya Pradesh. This project is for Rajasthan REZ Phase IV (Part 2: 5.5 GW) (Jaisalmer/ Barmer complex): Part C. The subsequent project comprises of augmentation works at existing substation in Gujarat. The project is for potential renewable energy zone in Khavda area of Gujarat under Phase-IV (7GW) Part E2. The last project comprises establishment of new 765 kV sub-station at Rishabhdeo, in Rajasthan 765kV D/C transmission lines and associated bays extension works at other existing substations in Rajasthan & Madhya Pradesh. This project is for Rajasthan REZ Phase IV (Part 2: 5.5 GW) (Jaisalmer/ Barmer complex): Part E. Power Grid Corporation of India (PGCIL), a Public Sector Undertaking is India's principal electric power transmission company. The company is engaged in implementation, operation and maintenance of inter-state transmission system (ists), telecom and consultancy services. The company?s consolidated net profit jumped 2.6% to Rs 4,028.25 crore on 2.6% increase in net sales to Rs 11,549.79 crore in Q3 FY24 over Q3 FY23.
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Captain Pipes Ltd, AAA Technologies Ltd, Suratwwala Business Group Ltd and Solara Active Pharma Sciences Ltd are among the other gainers in the BSE's 'B' group today, 18 April 2024. KM Sugar Mills Ltd soared 19.98% to Rs 36.03 at 12:01 IST. The stock was the biggest gainer in the BSE's 'B' group. On the BSE, 5.32 lakh shares were traded on the counter so far as against the average daily volumes of 30525 shares in the past one month. Captain Pipes Ltd spiked 19.98% to Rs 22.82. The stock was the second biggest gainer in 'B' group. On the BSE, 108.21 lakh shares were traded on the counter so far as against the average daily volumes of 15.18 lakh shares in the past one month. AAA Technologies Ltd surged 18.61% to Rs 133.14. The stock was the third biggest gainer in 'B' group. On the BSE, 1.57 lakh shares were traded on the counter so far as against the average daily volumes of 24184 shares in the past one month. Suratwwala Business Group Ltd exploded 17.39% to Rs 115.05. The stock was the fourth biggest gainer in 'B' group. On the BSE, 1.58 lakh shares were traded on the counter so far as against the average daily volumes of 12000 shares in the past one month. Solara Active Pharma Sciences Ltd advanced 15.16% to Rs 486.85. The stock was the fifth biggest gainer in 'B' group. On the BSE, 1.05 lakh shares were traded on the counter so far as against the average daily volumes of 18544 shares in the past one month.
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Profit before tax stood at Rs 147.35 crore in the quarter ended 31 March 2024, registering the growth of 53.59% year on year. Operating EBITDA soared 111.4% to Rs 70.6 crore in Q4 FY24 as against Rs 33.4 crore posted in the same quarter previous year. Operating EBITDA margin improved to 26.1% in Q4 FY24 as compared to 14.4% recorded in Q4 FY23. The growth in the margin was led by topline growth and cost efficiencies, both on employee costs and other expenses. During the quarter, collections stood at Rs 305.3 crore, up 13.8% YoY. Consequently, deferred revenue was at Rs 507.7 crore in Q4 FY24, up 15.9% YoY. Total traffic (unique visitors) for the quarter stood at 171.1 million, up 7.4% YoY and 3.1% QoQ. The company added that 84.6% traffic originated on mobile platforms, 12.2% on desktop/ PC and 3.2% on our voice platform. Total active listings stood at 43.6 million as on 31 March 2024, recording a growth of 19.3% YoY and 4.7% QoQ. Of this, 1,942,275 listings were added (net) to the database during the quarter. Out of total listings, 28.5 million listings were geocoded as on 31 March 2024, up 27.6% YoY. Total images in listings stood at 188.5 million, up 35.4% YoY and 7.3% QoQ. Total ratings & reviews stood at 148 million at the end of quarter, up 3.5% YoY. Active paid campaigns at the end of quarter stood at 583,690, up 8.4% YoY and 3% QoQ. The firm said that its focus continues on signing up majority of customers on monthly payment plans. On full year basis, the company?s net profit zoomed 122.72% to Rs 362.85 crore on 23.45% increase in revenue to Rs 1,230.63 crore in FY24 over FY23. Cash and Investments stood at Rs 4,625.4 crore as on 31 March 2024 compared to Rs 4,066.8 crore as on 31 March 2023 and Rs 4,405.3 crore as on 31 December 2023. Just Dial provides local search related services to users in India through multiple platforms such as website on desktop/ PC and mobile, mobile apps, over the telephone and text. The company has launched its B2B marketplace platform JD Mart, which is aimed at enabling millions of India?s manufacturers, distributors, wholesalers, retailers to become internet-ready in post-COVID era, get new customers and sell their products online.
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