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| As on Apr 29, 2024 12:00 AM |
Your results on : Hot Pursuit |
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| Total income grew by 24.87% year on year to Rs 9,015.77 crore in the quarter ended 31 March 2024. Profit before tax was at Rs 431.61 crore in the March quarter, up 59.07% from Rs 271.34 crore recorded in the corresponding quarter last year. Net interest income (NII) stood at Rs 2,153 crore, up 2.3% YoY as against Rs 2,105 crore. Net interest margin (NIM) declined to 2.4% in Q4 FY24 as compared to 2.8% registered in Q4 FY23. During the quarter, operating profit was at Rs 902 crore, up 1.52% from Rs 889 crore posted in the same period a year ago. Provisions (other than tax) and contingencies slipped 23.75% YoY to Rs 470.86 crore in Q4 FY24. On asset quality front, the bank's gross non-performing assets (NPAs) stood at Rs 3,982.56 crore as on 31 March 2024 as against Rs 4,394.57 crore as on 31 March 2023. The gross NPA ratio reduced to 1.7% as on 31 March 2024 as compared to 2.2% as on 31 March 2023. The net NPA ratio declined to 0.6% as on 31 March 2024 as against 0.8% as on 31 March 2023. Prashant Kumar, managing director & CEO, said, ?This quarter demonstrates a significant step in the RoA expansion journey, with Q4 FY24 RoA expanding to 0.5%. This is despite the one-off gains from tax refunds, SR recoveries and ARC Sale, being prudently utilized for strengthening the asset quality metrics- for instance, the NNPA + Net carrying value of SRs have more than halved over the course of the year to 1.1% from 2.4% in FY23. Moreover, we continue to witness strong momentum in our liability franchise with growth in Deposits expanding to over 20% YoY for first time in last 8 quarters. Importantly, despite challenging environment during the course of the year, our CASA ratio has expanded 10 bps YoY to 30.9%. This quarter, the bank continued to expand on its digital footprint with significant partnerships reflecting the inherent strength in the capabilities and technology infrastructure of the bank. As the bank embarks on the fifth year of this new journey, we remain focused on diligently executing the RoA expansion roadmap.? Yes Bank is a full service commercial bank providing a complete range of products, services and technology driven digital offerings, catering to Retail, MSME as well as corporate clients.
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Revenue from operations rose marginally to Rs 28,499 crore in the March quarter from Rs 28,446 crore recorded in the preceding quarter of FY24. On a year on year (YoY) basis, HCL Technologies' net profit rose 0.08% and revenue grew 7.11% in Q4 FY24. EBITDA in Q4 FY24 was Rs 6,111 crore, down 9.57% QoQ and up 4.23% YoY. EBITDA margin was 21.4% for the quarter ended 31 March 2024 as against 23.8% in Q3 FY24 and 21.9% in Q4 FY23. In dollar terms, the IT firm's revenue stood at $3,429.9 million in Q4 FY24, up 0.44% QoQ and 6.04% YoY. In constant currency (cc) terms, revenue in the March quarter was up 0.3% QoQ and 6% YoY. During the quarter, the company bagged 21 new large deals ? 13 in the Services segment & 8 in the Software segment. Total contract value (TCV) of new deal wins was $2,290 million. Total people count stood at 227,481 as on 31 March 2024, up 1.21% QoQ and up 0.68% YoY basis. Attrition (on the last 12-month basis) reduced to 12.4% in Q4 FY24 from 12.8% in Q3 FY24 and 19.5% in Q4 FY23. On full year basis, the company?s consolidate net profit grew 5.73% to Rs 15,702 crore on 8.34% rise in revenue to Rs 109913 crore in FY24 over FY23. In terms of FY25 guidance, the company?s CC revenue growth expected to be between 3%-5% YoY. Services CC revenue growth expected to be between 3%-5% YoY. EBIT margin expected to be between 18%-19%. Meanwhile, the company?s board has declared an interim dividend of Rs 18 per equity share for the financial year 2024-25. The record date is fixed on 7 May 2024 and the dividend will be paid on 15 May 2024. C Vijayakumar CEO & managing director of HCL Technologies, said, ?HCLTech continues to lead the industry in FY24 with good USD revenue growth of 5.4% YoY during challenging times through our strong commitment to our clients and our people. More importantly, we have translated this growth into even higher value creation for our shareholders with our OCF coming at $2,711 million, up 21.6% YoY and FCF at $2,584 million, up 27.7% YoY. As we look ahead, global enterprise technology spend will only grow with adoption of AI. We are well positioned to capitalize with our AI led propositions, Global delivery model and ideal mix of technology services and products.? Prateek Aggarwal chief financial officer at HCLTech, stated, ?HCLTech?s FY24 performance underlines the resilience of our business model with revenue at Rs 109,913 crore, growing 8.3%. We delivered this industry leading growth with EBIT at 20,027 crore, up 8.4%. Net income (NI) for the year came in at Rs 15,702 crore, up 5.7%, translating to an EPS of Rs 57.86. Our razor-sharp focus on cash generation resulted in OCF/NI coming at 143% and FCF/NI at 136%. We continue to expand ROIC, with the Company?s ROIC up 341 bps YoY at 33.8% and Services? ROIC up 430 bps YoY at 41.6%.? HCL Technologies (HCL) empowers global enterprises with technology for the next decade, today. HCL offers its services and products through three business units: IT and Business Services (ITBS), Engineering and R&D Services (ERS) and Products & Platforms (P&P).
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Among the components of the S&P BSE Financial Services index, Indian Renewable Energy Development Agency Ltd (up 8.47%), Dolat Algotech Ltd (up 6.17%),Yes Bank Ltd (up 5.39%),New India Assurance Company Ltd (up 3.89%),SBFC Finance Ltd (up 3.75%), were the top gainers. Among the other gainers were General Insurance Corporation of India (up 3.55%), VLS Finance Ltd (up 3.32%), AU Small Finance Bank Ltd (up 3.22%), India Shelter Finance Corporation Ltd (up 2.99%), and Nalwa Sons Investments Ltd (up 2.94%). On the other hand, IDFC Ltd (down 6.25%), Multi Commodity Exchange of India Ltd (down 5.87%), and IDFC First Bank Ltd (down 5.35%) turned lower. At 09:42 IST, the S&P BSE Sensex was up 400.03 or 0.54% at 74130.19. The Nifty 50 index was up 81.05 points or 0.36% at 22501. The S&P BSE Small-Cap index was up 129.62 points or 0.27% at 47368.91. The S&P BSE 150 Midcap Index index was up 50.9 points or 0.36% at 14134.32. On BSE,2181 shares were trading in green, 910 were trading in red and 133 were unchanged.
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Among the components of the S&P BSE Energy index, Aegis Logistics Ltd (up 5.51%), Hindustan Oil Exploration Company Ltd (up 4.62%),Gujarat State Petronet Ltd (up 1.46%),Hindustan Petroleum Corporation Ltd (up 1.02%),Reliance Industries Ltd (up 0.86%), were the top gainers. Among the other gainers were Gandhar Oil Refinery (India) Ltd (up 0.84%), Indian Oil Corporation Ltd (up 0.76%), Sandur Manganese & Iron Ores Ltd (up 0.55%), GAIL (India) Ltd (up 0.5%), and Castrol India Ltd (up 0.33%). On the other hand, Mahanagar Gas Ltd (down 1.76%), Gulf Oil Lubricants India Ltd (down 1.13%), and Ganesh Benzoplast Ltd (down 1.1%) turned lower. At 09:42 IST, the S&P BSE Sensex was up 400.03 or 0.54% at 74130.19. The Nifty 50 index was up 81.05 points or 0.36% at 22501. The S&P BSE Small-Cap index was up 129.62 points or 0.27% at 47368.91. The S&P BSE 150 Midcap Index index was up 50.9 points or 0.36% at 14134.32. On BSE,2181 shares were trading in green, 910 were trading in red and 133 were unchanged.
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Among the components of the S&P BSE BANKEX index, AU Small Finance Bank Ltd (up 3.22%), ICICI Bank Ltd (up 1.88%), IndusInd Bank Ltd (up 1.82%), Kotak Mahindra Bank Ltd (up 0.66%), State Bank of India (up 0.37%), and Axis Bank Ltd (up 0.36%), were the top gainers. On the other hand, IDFC First Bank Ltd (down 5.35%), Bank of Baroda (down 0.3%), and Federal Bank Ltd (down 0.22%) moved lower. At 09:42 IST, the S&P BSE Sensex was up 400.03 or 0.54% at 74130.19. The Nifty 50 index was up 81.05 points or 0.36% at 22501. The S&P BSE Small-Cap index was up 129.62 points or 0.27% at 47368.91. The S&P BSE 150 Midcap Index index was up 50.9 points or 0.36% at 14134.32. On BSE,2181 shares were trading in green, 910 were trading in red and 133 were unchanged.
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The company stated that although both the Wire & Strand and LRPC segments witnessed declines, the consistent performance from core Wire Rope segment supported overall revenues. EBITDA declined by 2.6% to Rs 161 crore in Q4 FY24 from Rs 165.3 crore in Q4 FY23. EBITDA margin for Q4 FY24 was 19.4% as against 19.3% in Q4 FY23. The company?s joint ventures recorded a loss of Rs 4.5 crore in the fourth quarter as against a loss of Rs 2.1 crore in Q4 FY23. Profit before tax in Q4 FY24 stood at Rs 136.4 crore, down by 4.1% from Rs 142.3 crore in Q4 FY23. For FY24, Usha Martin the company recorded net profit and revenue of Rs 424.1 crore (up 21% YoY) and Rs 3,225.2 crore (down 1.3% YoY), respectively. Tapas Gangopadhyay, non-executive director, said: ?We have concluded the financial year 2024 on a positive note with our robust operating cash flows reflecting strong performance. Despite facing macro-economic challenges, the company managed to generate an 18.6% EBITDA margin during the year. Notably, our core wire ropes division continued to perform well and contributed 71% to our overall consolidated revenues. The wave-1 capex program at our Ranchi facility is progressing well and we anticipate commercial operations to commence from Q1 FY25 onwards. These new capacities are mainly focused on enhancing the Company's value-added segment. We expect the facility to be ramped up over the next 9-12 months and to contribute meaningfully to our performance over the next two years. FY24 also saw notable advancements in our strategic initiatives, including enhancements in value-added offerings, deepening engagement with OEMs and expansion of our international presence. Usha Martin is a specialty steel wire rope solutions provider. The company is also engaged in the manufacturing of high-quality wires, low relaxation prestressed concrete steel strand (LRPC), bespoke end-fitments, accessories and related services.
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Jindal Stainless Ltd rose 1.3% today to trade at Rs 710.1. The S&P BSE Metal index is up 1.08% to quote at 31732.6. The index is up 12.54 % over last one month. Among the other constituents of the index, Vedanta Ltd increased 1.27% and Tata Steel Ltd added 1.12% on the day. The S&P BSE Metal index went up 57.6 % over last one year compared to the 21.06% surge in benchmark SENSEX. Jindal Stainless Ltd has added 2.25% over last one month compared to 12.54% gain in S&P BSE Metal index and 0.45% rise in the SENSEX. On the BSE, 1109 shares were traded in the counter so far compared with average daily volumes of 64347 shares in the past one month. The stock hit a record high of Rs 747.9 on 24 Apr 2024. The stock hit a 52-week low of Rs 270.55 on 15 May 2023.
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| The said project includes construction of Kottavalasa-Koraput doubling project from Km. 45.483 to Km. 72.550 from Shivalingapuram Station to Borraguhalu Station in connection with Kottavalasa Koraput, Adhnra Padesh Doubling Project of Waltair Division, East Coast Railway on EPC mode. The said domestic order is worth Rs 1198.09 crore. It will be completed within 1260 days. IRCON International is a public sector construction company, with emphasis on infrastructure projects, with specialization in execution of Railway projects on turnkey basis and otherwise. After commencing business as a railway construction company, it diversified progressively to roads, buildings, electrical substation and distribution, airport construction, commercial complexes, as well as metro rail works. The company's consolidated net profit increased 28.76% to Rs 244.64 crore on 22.91% rise in revenue from operations to Rs 2,884.22 crore in Q3 FY24 over Q3 FY23. The scrip jumped 2.96% to ends at Rs 250.80 on Friday, 26 April 2024.
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| Net interest income (NII) increased by 8.1% year on year (YoY) to Rs 19,093 crore in during the quarter. Net interest margin (NIM) was 4.40% in Q4 FY24 compared to 4.43% in Q4 FY23. The bank's provisions (excluding provision for tax) declined 55.65% YoY to Rs 718 crore during the period under review. On asset quality front, the bank's gross non-performing assets (NPAs) stood at Rs 27,961.68 crore as on 31 March 2024 as against Rs 31,183.70 crore as on 31 March 2023. The gross NPA ratio reduced to 2.16% as on 31 March 2024 as compared to 2.81% as on 31 March 2023. The net NPA ratio declined to 0.42% as on 31 March 2024 as against 0.48% as on 31 March 2023. The provision coverage ratio on non-performing assets was 80.3% at 31 March 2024. The net domestic advances grew by 16.8% YoY and total advances increased by 16.2% YoY to Rs 11,84,406 crore as at 31 March 2024. The retail loan portfolio grew by 19.4% YoY, and comprised 54.9% of the total loan portfolio at 31 March 2024. Including non-fund outstanding, the retail portfolio was 46.8% of the total portfolio at 31 March 2024. Total period-end deposits increased by 19.6% YoY to Rs 14,12,825 crore at 31 March 2024. Period-end term deposits jumped 27.7% YoY to Rs 8,16,953 crore at 31 March 2024. The bank's total capital adequacy ratio at 31 March 2024 was 16.33% an d CET-1 ratio was 15.60% compared to the minimum regulatory requirements of 11.70% and 8.20%, respectively. On consolidated basis, the bank's net profit increased 18.46% to Rs 11,671.52 crore on 24.59% rise in total income to Rs 67,181.70 crore in Q4 FY24 over Q4 FY23. For FY24, the private lender?s standalone net profit climbed 28.19% to Rs 40,888.27 crore on 28.5% growth in total income to Rs 165,848.71 in FY24 over FY23. Meanwhile, the board recommended a dividend of Rs 10 per equity share, subject to requisite approvals. Further, the bank?s board approved fund raising by way of issuances of debt securities including by way of non-convertible debentures in domestic markets upto an overall limit of Rs 25,000 crore by way of private placement and issuances of bonds/notes/offshore certificate of deposits in overseas markets upto $1.50 billion for a period of one year, from the date of passing of resolution by the board. The board of directors also authorised buyback of debt securities within the limits that it is authorised to approve under applicable law. ICICI Bank is a leading private sector bank in India. The bank had a network of 6,523 branches, 17,190 ATMs and cash recycling machines at 31 March 2024. The scrip closed 0.53% lower to end at Rs 1,107.15 on Friday, 26 April 2024.
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Profit before tax in Q4 FY24 stood at Rs 473.24 crore, up 31.79% from Rs 359.08 crore reported in Q4 FY23. Net interest income grew 18% year on year to Rs 1,600 crore in the quarter ended 31 March 2024. Net interest margin (NIM) declined to 5.45% in Q4 FY24 as compared to 5.62% reported in the same quarter a year ago. Operating profit in Q4 FY24 was at Rs 887 crore, up 49% from Rs 594 crore recorded in Q4 FY23. Provisions (other than tax) and contingencies surged 76.31% YoY to Rs 413.79 crore during the quarter. On the asset quality front, gross non-performing assets (NPAs) stood at Rs 2,270.97 crore as on 31 March 2024 as against Rs 2,419.86 crore as on 31 March 2023. The GNPA ratio improved to 2.65% as on 31 March 2024 as against 3.37% as on 31 March 2023. The net NPA ratio stood at 0.74% as on 31 March 2024 as compared to 1.10% as on 31 March 2023. Provision coverage ratio including technical write offs was at 89.8%as on 31 March 2024 as against 85% as on 31 March 2023, improved 480 bps in a year. Provision coverage ratio stood at 72.7% as on 31 March 2024. Net advances as on 31 March 2024 was at Rs 83,987 crore, registering a growth of 20%. Deposits grew by 22% YoY to Rs 1,03,494 crore as on 31 March 2024. CASA deposits stood at Rs 36,448 crore as on 31 March 2024, up 15%YoY. CASA ratio reduced to 35.2% as on 31 March 2024 as compared to 37.4% as on 31 March 2023. Capital adequacy was 16.18% and common equity tier 1 ratio was 14.38% as on 31 March 2024. Average liquidity coverage ratio came in at 140%. As of 31 March 2024, the bank has 545 bank branches and 1,272 business correspondent branches, of which 297 are banking outlets. R Subramaniakumar, MD&CEO, RBL Bank said ?Our advances and deposits have shown substantial growth, with a notable improvement in operating leverage. We're witnessing the fruition of our strategic initiatives, as momentum builds and our efforts in various areas yield promising results. Meanwhile, the bank?s board recommended dividend of Rs 1.50 per equity share for FY24, subject to the approval of the shareholders. RBL Bank is one of India's leading private sector banks with an expanding presence across the country. The bank offers specialized services under five business verticals namely: corporate & institutional banking, commercial banking, branch & business banking, retail assets and treasury and financial markets operations. Shares of RBL Bank rose 1.07% to close at Rs 265.55 on Friday, 26 April 2024.
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Total income grew by 24.87% year on year to Rs 9,015.77 crore in the quarter ended 31 March 2024. Profit before tax was at Rs 431.61 crore in the March quarter, up 59.07% from Rs 271.34 crore recorded in the corresponding quarter last year. Net interest income (NII) stood at Rs 2,153 crore, up 2.3% YoY as against Rs 2,105 crore. Net interest margin (NIM) declined to 2.4% in Q4 FY24 as compared to 2.8% registered in Q4 FY23. During the quarter, operating profit was at Rs 902 crore, up 1.52% from Rs 889 crore posted in the same period a year ago. Provisions (other than tax) and contingencies slipped 23.75% YoY to Rs 470.86 crore in Q4 FY24. On asset quality front, the bank's gross non-performing assets (NPAs) stood at Rs 3,982.56 crore as on 31 March 2024 as against Rs 4,394.57 crore as on 31 March 2023. The gross NPA ratio reduced to 1.7% as on 31 March 2024 as compared to 2.2% as on 31 March 2023. The net NPA ratio declined to 0.6% as on 31 March 2024 as against 0.8% as on 31 March 2023. Prashant Kumar, managing director & CEO, said, ?This quarter demonstrates a significant step in the RoA expansion journey, with Q4 FY24 RoA expanding to 0.5%. This is despite the one-off gains from tax refunds, SR recoveries and ARC Sale, being prudently utilized for strengthening the asset quality metrics- for instance, the NNPA + Net carrying value of SRs have more than halved over the course of the year to 1.1% from 2.4% in FY23. Moreover, we continue to witness strong momentum in our liability franchise with growth in Deposits expanding to over 20% YoY for first time in last 8 quarters. Importantly, despite challenging environment during the course of the year, our CASA ratio has expanded 10 bps YoY to 30.9%. This quarter, the bank continued to expand on its digital footprint with significant partnerships reflecting the inherent strength in the capabilities and technology infrastructure of the bank. As the bank embarks on the fifth year of this new journey, we remain focused on diligently executing the RoA expansion roadmap.? Yes Bank is a full service commercial bank providing a complete range of products, services and technology driven digital offerings, catering to Retail, MSME as well as corporate clients. The scrip ended 0.73% higher at Rs 26.15 on Friday, 26 April 2024.
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Total income stood at Rs 440.02 crore in the quarter ended 31 March 2024, registering a growth of 33.68% year on year (YoY). Profit before tax stood at Rs 267.57 crore in Q4 FY24, up 47.87% from Rs 180.95 crore recorded in the corresponding quarter last year. Aditya Birla Sun Life AMC?s (ABSLAMC) overall quarterly average assets under management (QAAUM) including alternate assets grew 21% YoY to Rs 3,45,800 crore for the quarter ending 31 March 2024. The company?s mutual fund QAAUM also witnessed a growth of 21% YoY to Rs 3,31,700 crore. Equity mutual fund QAAUM increased by 31% YoY to Rs 1,52,000 crore in Q4 FY23. Equity mutual fund mix increased to 46% Q4 FY24 from 42% in Q4 FY23. Individual monthly AAUM stood at Rs 1,73,200 crore for March 2024, up 23% YoY. Individual mix was at 52% of mutual fund AUM. The firm registered around 5,96,400 new systematic investment plans (including STP) for Q4 FY23, recording a growth of 125% . On full year basis, the company's consolidated net profit grew 30.85% to Rs 780.36 crore on 21.19% rise in total income to Rs 1,640.58 crore in FY24 over FY23. ABSL AMC serviced 8.59 million folios as of 31 March 2024 and added around 1.1 million new folios for year ending 31 March 2024. Monthly systematic inflows (including STP) witnessed growth of 25% YoY to Rs 1,252 crore for March 2024 with 3.58 million accounts. Meanwhile, the company's board has recommended a final dividend of Rs 13.50 per equity share for the financial year ended 31 March 2024, subject to the approval of shareholders. The dividend, if approved, will be paid within 30 days from the conclusion of AGM. Record date for the said dividend will be intimated in due course. Aditya Birla Sun Life AMC is co-owned and backed by Aditya Birla Capital and Sun Life (India) AMC Investments Inc. ABSLAMC is primarily the investment manager of Aditya Birla Sun Life Mutual Fund. It also operates multiple alternate strategies including portfolio management services, real estate investments and alternative investment funds. Shares of Aditya Birla Sun Life AMC declined 0.87% to end at Rs 554.75 on Friday, 26 April 2024.
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Net premium income increased 26.23% year on year (YoY) to Rs 25,116.47 crore in the quarter ended 31 March 2024. Net income from investment zoomed to Rs 10,811.70 crore in March 2024 quarter from Rs 1,186.13 crore posted in corresponding quarter last year. The company's profit before tax stood at Rs 836.35 crore in Q4 FY24 from Rs 793.59 crore posted in same quarter previous year. On full-yearly basis, the company's net profit rose 10.07% to Rs 1,893.78 crore on 62.54% surge in total income to Rs 1,32,631.41 crore in FY24 over FY23. New business premium (NBP) grew by 29% to Rs 38,240 crore in FY24. The company stated that it has private market leadership in individual NBP of Rs 23,830 crore with 14% growth and 25.8% market share. During FY24, the company registered 17% YoY growth in annual premium equivalent (APE) to Rs 19,720 crore, and 9% YoY increase in value of new business to Rs 5,550 crore. Value of new business margin was at 28.1% in FY24 as compared to 30.1% registerted in FY23. Gross written premium (GWP) has grew by 21% to Rs 81,430 crore in FY24 mainly due to 44% growth in single premium (SP) and 14% growth in renewal premium (RP) in FY24. Assets under management (AuM) grew by 27% to Rs 3,88,920 crore as on 31 March 2024 from Rs 3,07,340 crore as on 31 March 2023 with debt-equity mix of 64:36. The company's Indian embedded value (IEV), as on 31 March 2024, was Rs 58,173 crore with an operating return on embedded value of 21.8% for FY24. SBI Life recorded strong growth in 49th month and 61st month persistency (based on premium considering regular premium/ limited premium payment under individual category) in FY24 by 241 bps and 295 bps respectively due to our focus on improving the quality of business and customer retention. The company's net worth increased by 15% to Rs 14,910 crore as on 31 March 2024 from Rs 13,020 crore as on 31 March 2023. The life insurer recorded robust solvency ratio of 1.96 as on 31 March 2024 as against the regulatory requirement of 1.50 indicating strong financial position of the company. Return on equity (RoE) declined to 13.6% in FY24 as compared to 14% registered in FY23. SBI Life is one of the leading life Insurance companies in India. SBI Life Insurance Company has a strong distribution network of 1,040 offices, 23,893 employees, a large and productive network of about 246,078 agents, 77 corporate agents and 14 bancassurance partners with more than 40,000 partner branches, 143 brokers and other insurance marketing firms. Shares of SBI Life Insurance Company declined 1.99% to settle at Rs 1,415.25 on Friday, 26 April 2024.
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Profit before tax stood at Rs 888.16 crore in the March 2024 quarter, registering a growth of 11.07% YoY. Interest income increased 27.88% to Rs 2,138.66 crore in Q4 FY24 from Rs 1,672.35 crore in Q4 FY23. Non-interest income (fees, commission & others) grew by 5.69% to Rs 2,209 crore in Q4 FY24 from Rs 2,090 crore in Q4 FY23. Finance costs climbed 42.8% YoY to Rs 724 crore while total operating cost declined 3.13% YoY to Rs 1,918 crore during the period under review. Impairment on financial instruments jumped 49.84% to Rs 944 crore in Q4 FY24 from Rs 630 crore in Q4 FY23. The firm's return on average assets (ROAA) and return on average equity (ROAE) stood at 4.7% and 22.2%, respectively in the quarter ended 31 March 2024. On full year basis, the NBFC?s net profit rose 6.61% to Rs 2,407.88 crore on 22.38% jump in total income to Rs 17,483.50 crore in FY24 over FY23. On asset quality front, gross non-performing assets were at 2.76% of gross advances as of 31 March 2024 as against 2.35% as of 31 March 2023. Net non-performing assets were at 0.99% as of 31 March 2024, as against 0.87% as of 31 March 2023. As of 31 March 2024, the company's CRAR was 20.5% compared to 23.1% as of 31 March 2023. Tier I capital was 16.5% as of 31 March 2024, compared to 23.1% as of 31 March 2023. Total gross advances (credit card receivables) as of 31 March 2024 stood at Rs 50,846 crore as compared with Rs 40,722 crore as of 31 March 2023. Net worth as of 31 March 2024 was at Rs 12,156 crore as against Rs 9,902 crore as of 31 March 2023. SBI Cards and Payment Services is a non-banking financial company that offers extensive credit card portfolio to individual cardholders and corporate clients which includes lifestyle, rewards, travel & fuel, and banking partnerships cards along with corporate cards covering all major cardholders' segments in terms of income profile and lifestyle. The brand has a wide base of around 18.5 MM+ cards in force as of Q3 FY24. The scrip fell 1.02% to close at Rs 750.40 on Friday, 26 April 2024.
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Revenue from operations rose marginally to Rs 28,499 crore in the March quarter from Rs 28,446 crore recorded in the preceding quarter of FY24. On a year on year (YoY) basis, HCL Technologies' net profit rose 0.08% and revenue grew 7.11% in Q4 FY24. EBITDA in Q4 FY24 was Rs 6,111 crore, down 9.57% QoQ and up 4.23% YoY. EBITDA margin was 21.4% for the quarter ended 31 March 2024 as against 23.8% in Q3 FY24 and 21.9% in Q4 FY23. In dollar terms, the IT firm's revenue stood at $3,429.9 million in Q4 FY24, up 0.44% QoQ and 6.04% YoY. In constant currency (cc) terms, revenue in the March quarter was up 0.3% QoQ and 6% YoY. During the quarter, the company bagged 21 new large deals ? 13 in the Services segment & 8 in the Software segment. Total contract value (TCV) of new deal wins was $2,290 million. Total people count stood at 227,481 as on 31 March 2024, up 1.21% QoQ and up 0.68% YoY basis. Attrition (on the last 12-month basis) reduced to 12.4% in Q4 FY24 from 12.8% in Q3 FY24 and 19.5% in Q4 FY23. On full year basis, the company?s consolidate net profit grew 5.73% to Rs 15,702 crore on 8.34% rise in revenue to Rs 109913 crore in FY24 over FY23. In terms of FY25 guidance, the company?s CC revenue growth expected to be between 3%-5% YoY. Services CC revenue growth expected to be between 3%-5% YoY. EBIT margin expected to be between 18%-19%. Meanwhile, the company?s board has declared an interim dividend of Rs 18 per equity share for the financial year 2024-25. The record date is fixed on 7 May 2024 and the dividend will be paid on 15 May 2024. C Vijayakumar CEO & managing director of HCL Technologies, said, ?HCLTech continues to lead the industry in FY24 with good USD revenue growth of 5.4% YoY during challenging times through our strong commitment to our clients and our people. More importantly, we have translated this growth into even higher value creation for our shareholders with our OCF coming at $2,711 million, up 21.6% YoY and FCF at $2,584 million, up 27.7% YoY. As we look ahead, global enterprise technology spend will only grow with adoption of AI. We are well positioned to capitalize with our AI led propositions, Global delivery model and ideal mix of technology services and products.? Prateek Aggarwal chief financial officer at HCLTech, stated, ?HCLTech?s FY24 performance underlines the resilience of our business model with revenue at Rs 109,913 crore, growing 8.3%. We delivered this industry leading growth with EBIT at 20,027 crore, up 8.4%. Net income (NI) for the year came in at Rs 15,702 crore, up 5.7%, translating to an EPS of Rs 57.86. Our razor-sharp focus on cash generation resulted in OCF/NI coming at 143% and FCF/NI at 136%. We continue to expand ROIC, with the Company?s ROIC up 341 bps YoY at 33.8% and Services? ROIC up 430 bps YoY at 41.6%.? HCL Technologies (HCL) empowers global enterprises with technology for the next decade, today. HCL offers its services and products through three business units: IT and Business Services (ITBS), Engineering and R&D Services (ERS) and Products & Platforms (P&P). The scrip slipped 2.08% to settle at Rs 1472.30 on Friday, 26 April 2024.
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| The company?s net profit increased on account of higher sales volume, favourable commodity prices, cost reduction efforts and higher non-operating income. Net sales jumped 19.06% year on year (YoY) to Rs 36,697.5 crore in the quarter ended 31 March 2024. Profit before tax increased 53.55% to Rs 4,997.8 crore in Q4 FY24 from Rs 3,254.8 crore recorded in the corresponding quarter previous year. The company sold a total of 5,84,031 vehicles in Q4 FY24, registering a growth of 13.4% as compared to 5,14,927 vehicles sold in the same period a year ago. The auto major's sales in the domestic market stood at 5,05,291 units (up 12.2% YoY) and sales in the export market was at Rs 78,740 units (up 21.7% YoY) during the period under review. Operating EBIT in Q4 FY24 was at Rs 3,956 crore, recording a growth of 51.5% on YoY basis. On full year basis, the company's net profit soared 64.10% to Rs 13,209.4 crore on 19.94% rise in net sales to Rs 1,34,937.8 crore in FY24 over FY23. The company sold a total of 21,35,323 units during the period, up 8.6% YoY. Meanwhile, the company's board has declared a dividend of Rs 125 per share equity share for FY24. The record date for the purpose of payment of dividend is 3rd September 2024. Maruti Suzuki India is engaged in the manufacture, purchase and sale of motor vehicles, components, and spare parts (automobiles). Shares of Maruti Suzuki slipped 1.70% to settle at Rs 12,687.05 on the BSE.
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| Operating revenue jumped 60% YoY to Rs 1,569 crore in Q4 FY24. The company reported highest ever quarterly capital market business PAT of Rs 251 crore, up 68% YoY and 23% QoQ. Revenues for this segment were Rs 982 crore, up 68% YoY and up 28% QoQ in Q1FY24. Capital markets comprise of retail broking and distribution, institutional equities and investment banking business. Overall, the company's average daily turnover (ADTO) grew 122% YoY and 26% QoQ. Asset and Wealth Management revenues were Rs 589 crore in Q4FY24, up 58% YoY. Profits were Rs 210 crore in Q4 FY24, up 79% YoY. Asset Management business AUM across MF, PMS & AIF grew strongly to Rs 71,810 crore, up 57% YoY and 11% QoQ. Housing finance business PAT was Rs 31 crore in Q4 FY24. The segment AUM grew by 6% YoY to Rs 4,047 crore as n 31 March 2024. Meanwhile, the company has issuance of bonus shares in the ratio of 3:1 i.e 3 equity shares of face value of Rs 1/- each for every 1 existing equity share of face value of Rs 1/- each held by the shareholders of the company. Motilal Oswal, MD & CEO said, ?38% growth in FY24 Operating PAT to 1,535 crore and Consolidated PAT of 2,626 crore is a testimony to the structural tailwinds in our core businesses of capital markets and asset & wealth management. Capital market business remains significantly underpenetrated with most exciting 5 years ahead of us. Our presence in 98% of pin codes & 6% cross-sell ratio provides us with a ready base and headroom to grow our distribution business. With 95% of MOAMC strategies outperforming the benchmark, turnaround in Gross & Net Sales, presence across MF & Alternates, focus on equities and launch of new products, AMC business should once again take the growth leadership for MOFSL. Huge investments in our Wealth management business, strengthening of leadership across regions & functions combined with the wealth effect under way should all come together to make this business our next growth engine. HFC business reported 0.4% Net NPA and focus is back on growth with sales team doubled in FY24 and set to doubled again in FY25, paving way for doubling of disbursements. Such synchronized tailwinds and growth runways across our businesses are drivers to our large investments in talent, brand building and infrastructure. The unique twin engine of highly growth-high RoE Operating businesses and 18+% X1RR on treasury management has resulted in a Consolidated Roc of 35%, fueling undiluted growth and healthy payouts since our listing in 2007.? Further, due to internal reorganization, the company?s board has approved the change in designation of Navin Agarwal from non-executive director to executive director by appointing him as managing director of the company, being liable to retire by rotation, for a term of five years from 26 April 2024 to 25 April 2029. Furthermore, Prateek Agrawal, designated as managing director and chief executive officer of Motilal Oswal Asset Management Company (MOAMC), a material subsidiary of the company and Sandeep Walunj designated as chief marketing officer of the company in place of Rohini Kute, Head - Corporate Communication. Motilal Oswal Financial Services is a financial services company. Its offerings include capital markets businesses (retail broking, institutional broking & investment banking), asset & wealth management (asset management, private equity & wealth management), housing finance & equity based treasury investments.
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| Revenue from operations soared to Rs 131.99 crore in March 2024 quarter from 29.86 crore posted in corresponding quarter previous year. Profit before tax stood at Rs 94.87 crore in fourth quarter of FY24, higher than Rs 9.97 crore reported in Q4 FY23. On a full year basis, the company?s net profit increased 35.56% to Rs 157.75 crore on 37.35% rise in revenue from operations to Rs 331.48 crore in FY24 over FY23. Dolat Algotech is a trading cum self-clearing member of National Stock Exchange of India and carries on the business of securities broking and securities trading. The counter hit 52-week high of Rs 118.60 in today?s intraday session.
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| Profit before tax climbed 39.43% year on year (YoY) to Rs 2,644.12 crore in the quarter ended 31 March 2024. Net interest income increased 20.02 % to Rs 5,336.06 crore in Q4 FY24 as against Rs 4,445.89 crore recorded in Q4 FY23. As on 31 March 2024, the total assets under management rose 21.10% to Rs 2,24,861.98 crore as compared to Rs 1,85,682.86 crore as on 31 March 2023. Liquidity coverage ratio was at 195.55% as on 31 March 2024 as against 209.86% as of 31 March 2023. Cost to income ratio decreased to 26.68% in Q4 FY24 from 30.15% reported in Q4 FY23. The firm's return on assets (ROA) and return on equity (ROE) stood at 3.19% and 16.37%, respectively in the quarter ended 31 March 2024. For FY24, the company?s net profit increased 20.26% to Rs 7,190.48 crore on 17.43% rise in total income to Rs 34,997.61 crore over FY23. Meanwhile, the board declared a final dividend of Rs 15 per share for FY24. The record date for same has been fixed as on 23 July 2024 and it will be paid between 24 July 2024 to 30 July 2024. Furthermore, the NBFC's board has also approved resource mobilisation plan for issuance of debt securities viz. redeemable non-convertible debentures (NCDs)/subordinated debentures, bonds or any other permissible instrument on private placement basis in tranches, bonds/notes in offshore markets, external commercial borrowings and other methods of borrowing for the purpose of business of the company for the financial year 2024-2025. Lastly, the board of directors approved acquisition of 100% stake in Shriram Overseas Investments from Shriram Investments Holdings. Shriram Finance is India's largest retail asset financing non-banking finance company (NBFC). It is the flagship company of the Shriram group which has significant presence in Consumer Finance, Life Insurance, General Insurance, Housing Finance, Stock Broking and Distribution businesses. The scrip rose 0.34% to end at Rs 2,502 on the BSE.
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| Total income increased 35.63% YoY to Rs 32041.93 crore in Q4 FY24. Profit before tax stood at Rs 5526.54 crore in the quarter ended 31 March 2024, up 21.72% as compared with Rs 4,540.46 crore in Q4 FY23. Bajaj Finserv is the holding company for the various financial services businesses under the Bajaj group. It participates in the financing business through its 52.45% holding in Bajaj Finance and in the protection business through its 74% holding in two unlisted subsidiaries, Bajaj Allianz General Insurance Company and Bajaj Allianz Life Insurance Company. Bajaj Finance (BFL) reported 21% jump in net profit to Rs 3,825 crore in Q4 FY24 as compared with Rs 3,158 crore in Q4 FY23. This includes profit after tax of its 100% mortgage subsidiary, BHFL, of Rs 381 crore in Q4 FY24 as against Rs Rs 302 crore in Q4 FY23, up 26%. The consolidated profit was impacted by approximately 4% due to regulatory action on two businesses. Gross Non-Performing Assets (NPA) and Net NPA as on 31 March 2024 stood at 0.85% and 0.37% respectively as against 0.94% and 0.34% as on 31 March 2023. Provisioning coverage ratio on stage 3 assets is 57%. BFL holds a management and macro-economic overlay of Rs 300 crore as on 31 March 2024. Assets Under Management (AUM) as on 31 March 2024 were Rs 3,30,615 crore compared wth Rs 2,47,379 crore as on 31 March 2023, registering the growth of 34%. This includes AUM of Rs 91.370 crore of BHFL. which recorded a growth of 32% over the AUM as on 31 March 2023. Capital adequacy ratio (CRAR) (including Tier-II capital) as on 31 March 2024 increased to 22.52%. The Tier-I capital stood at 21.51%. For BHFL, the capital adequacy ratio (including Tier-II capital) stood at 21.28%. Bajaj Allianz General Insurance Company (BAGIC) gross written premium for Q4 FY24 increased by 32% to Rs 4,962 crore as compared with Rs 3,766 crore in Q4 FY23. Excluding tender-driven crop and government health insurance premium, BAGIC's gross written premium increased by 13% to Rs 3,780 crore in Q4 FY24 from Rs 3,345 crore in Q4 FY23. Claim ratio increased to 70.3% in Q4 FY24 as against 66.4% in Q4 FY23. Claim ratio is higher than previous year on account of higher claim ratio in Health and Motor TP segments, partially offset by lower commercial & crop claims. During the quarter, profit after tax jumped 18% to Rs 380 crore as compared with Rs 322 crore posted in the quarter ended 31 March 2023. As on 31 March 2024, solvency ratio was 349%, which is well above the minimum regulatory requirement of 150%. Assets under management (AUM), represented by cash and investments stood at Rs 31,196 crore as on 31 March 2024 as compared with Rs 27,809 crore as on 31 March 2023, up 12%. Bajaj Allianz Life Insurance Company's (BALIC) new business premium for Q4 FY24 increased by 20% to Rs 3,953 crore as compared with Rs 3,297 crore in Q4 FY23. Renewal premium for 04 FY24 stood at Rs 4,230 crore as against Rs 3,137 crore in Q4 FY23, registering the growth of 35%. Shareholders' profit after tax during Q4 FY24 increased to Rs 106 crore as compared with Rs 26 crore in Q4 FY23. Gross written premium jumped 27% to Rs 8,183 crore in Q4 FY24 as compared with Rs 6,434 crore in Q4 FY23. Net New Business Value (NBV). which is the key metric used to measure profitability of life insurance business, increased 16% to Rs 480 crore in Q4 FY24 as against Rs 415 crore in Q4 FY23. Solvency ratio stood at a healthy 432% as on 31 March 2024 as against the minimum regulatory requirement of 150%. Assets Under Management (AUM), represented by total investments stood atRs 1,09,829 crore as on 31 March 2024 as compared with Rs 90,584 crore as on 31 March 2023. Meanwhile, the company?s board has declared a dividend of Rs 1 per equity share of face value of Rs 1 for the financial year ended 31 March 2024. The said dividend, if declared, by the shareholders at the ensuing Annual General Meeting, will be credited on or about Friday, 26 July 2024 or Saturday, 27 July 2024. The scrip declined 3.76% to Rs 1,593.60 on the BSE.
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