18-May-2024 (16:00) Kirloskar Ferrous Q4 PAT drops 81% YoY to Rs 18 cr
The company?s revenue from operation fell 1.89% to Rs 1,535.92 crore in Q4 FY24 as compared to Rs 1,565.56 crore posted in the same period last year.
Profit before exceptional items and tax stood at Rs 62.59 crore in Q4 FY24, down 60.63% from Rs 159.01 crore posted in corresponding quarter previous year. The firm reported exceptional loss of Rs 26.59 crore during the fourth quarter of FY24.
EBITDA (excluding other income and exceptional item) stood at Rs 165.1 crore, registering the de-growth of 25.29% as compared with Rs 221 crore posted in same quarter last year. EBITDA margin reduced to 11% in Q4 FY24 as against 14% in Q4 FY23.
On full year basis, the company's consolidated net profit fell 31.93% to Rs 297.66 crore on 4.22% decrease in revenue from operations to Rs 6,146.29 crore in FY24 over FY23.
R.V.Gumaste, managing director, Kirloskar Ferrous lndustries, said, ?This quarter has been challenging for KFIL due to demand-side issues. The subdued demand from the tractor industry impacted casting sales volumes, and pressure on pig iron margins affected the results. However, we are seeing early signs of revival, both in pig iron prices and tractor casting demand. All of our projects are progressing as planned, with many nearing completion. We expect to start seeing returns from these projects soon.
Meanwhile, the company?s board has approved to seek approval of the members of the company for fund raising not exceeding Rs 750 crore by way of issuance of non-convertible debentures (NCDs) in one or more tranches.
Kirloskar Ferrous Industries is one of India's largest castings and pig iron manufacturers. The company caters to various industry sectors, such as tractors, automobiles and diesel engines.
The scrip declined 4.82% to end at Rs 690.30on the BSE.
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18-May-2024 (15:46) ZEEL reports turnaround Q4 numbers
Revenue from operations increased 2.7% to Rs 2,169.9 crore in Q4 FY24 as compared with Rs 2112.1 crore in Q4 FY23.
Pre-tax profit was Rs 114 crore in Q4 FY24 as against pre-tax loss of Rs 46.9 crore in Q4 FY23.
EBITDA stood at Rs 210.3 crore in Q4 FY24, registering the growth of 38.6% as compared with RS 151.7 crore in Q4 FY23. EBITDA margin was 9.7% in Q4 FY24 as against 7.2% in Q4 FY23.
The company's revenue from Advertisement was at Rs 1,110.2 crore (up 10% YoY), revenue from Subscription stood at Rs 949.4 crore (up 8.02% YoY) while revenue from other sales and services was at Rs 110.3 crore (down 57% YoY), due to fewer movie releases and syndication during the period under review.
Domestic advertising revenue for the quarter grew by 10.6% YoY driven by the continued recovery in macro advertising environment and spending pickup by FMCG clients.
On outlook front, in Q1 FY25, the company expects to see most of one-time higher costs towards implementing the interventions, offsetting underlying operating performance improvements and causing softness on margins and from Q2 FY25 it expects gradual margin improvement to kick in. it also expects to deliver industry-leading 18-20% EBITDA margin.
Meanwhile, the company?s board has declared a dividend of Rs 1 per share for FY24.
ZEEL is a media & entertainment company offering entertainment content to diverse audiences. It is present across broadcasting, movies, music, digital, live entertainment, and theatre businesses, both within India and overseas.
The scrip rallied 4.26% to end at Rs 140.70 on the BSE.
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18-May-2024 (15:20) NHPC Q4 PAT slides 18% to Rs 610 cr
Revenue from operations decreased 6.93% year on year (YoY) to Rs 1,888.14 crore in the quarter ended 31 March 2024.
Profit before tax and regulatory deferral account balances for the quarter was at Rs 930.23 crore, up 38.24% from Rs 672.90 crore posted in Q4 FY23.
During Q4 FY24, total expenses increased 9.82% YoY to Rs 1,393.67 crore. Employee benefits expense was at Rs 403.88 crore (down 11.25% YoY) and finance costs stood at 91.48 crore (down 17.45% YoY) during the period under review.
On the margins front, the PSU company's operating margin rose to 40.84% in Q4 FY24 from 31.71% posted in Q4 FY23. Net profit margin was at 32.36% in Q4 FY24 as compared to 36.74% recorded in the corresponding quarter previous year.
On a full year basis, NHPC's consolidated net profit shed 5.46% to Rs 4,028.01 crore on 9.19% decline in revenue from operations to Rs 9,632.16 crore in FY24 over FY23.
Meanwhile, the company's board has recommended a final dividend of Rs 0.50 per equity share. The firm stated that dividend shall be paid/dispatched within the period as stipulated in the Companies Act, 2013.
NHPC is the largest organization for hydropower development in India. It has also diversified in the field of solar & wind power. As of 31 March 2024, the Government of India held 67.40% stake in the company.
Shares of NHPC shed 1.36% to end at Rs 97.89 on Saturday 18 May, 2024.
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18-May-2024 (15:12) Nestle India ends higher after public shareholders reject royalty hike proposal to Swiss parent
As per the company?s exchange filing, 57% public shareholders of Nestle India voted against the said proposal while remaning 43% voted in favor of the same.
As on 31 March 2024, Public shareholders held 37.24% stake in the company. The remaining 62.76% stake is held by the Promoter & Promoter Group, viz. Nestle S.A (34.28% stake) and Maggi Enterprises Limited (28.48% stake).
In April this year, the board of Nestle India had approved a proposal for payment of general licence fees (royalty) by the company to Soci?t? des Produits Nestl? S.A. (Licensor) at the rate not exceeding 5.25%, net of taxes, of the net sales of the products sold by the company.
The said payment was being made as per the terms and conditions of the existing General Licence Agreements. The amount would be payable in a staggered manner over the period of five years by making an increase of 0.15% per annum over the current license fees of 4.5% per annum effective from 1 July 2024.
In 2019, the company had reportedly said that it would seek approval from its shareholders every five years for royalty payments to the parent company after receiving investor and proxy firm's feedback on the issue.
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 jumped 26.81% to Rs 934.17 crore in March 2024 quarter as against Rs 736.64 crore in March 2023 quarter. Revenue from operations rose 9.05% year on year to Rs 5267.59 crore in the quarter ended 31 March 2023.
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18-May-2024 (15:05) Sobha Q4 PAT drops 85% YoY to Rs 7 cr
Revenue from operations fell 36.95% YoY to Rs 762.86 crore in Q4 FY24.
Profit before tax dropped 83.71% to Rs 10.9 crore from Rs 66.93 crore in Q4 FY23.
EBITDA stood at Rs 90.5 crore in Q4 FY24, registering the de-growth of 37.97% as compared with Rs 145.9 crore in Q4 FY23. EBITDA margin reduced at 11.4% in Q4 FY24 as against 14.4% in Q4 FY23.
The company?s sales stood at Rs 1.50 crore in Q4 FY24 as compared wth Rs 1.46 crore posted in Q4 FY23.
The Average Price Realization stood at Rs 11,230 per sft in Q4 FY24, registering growth of 13% YoY as compared with 9,898 per sft recorded in Q4 FY23.
On full year basis, the company?s consolidated net profit declined 52.87% to Rs 49.11 crore on 6.44% fall in revenue from operations to Rs 3096.94 crore in FY24 over FY23.
The company said that the impressive growth in sale was driven by customer preference for large luxury homes from a trusted developer, which led the way for Bangalore to contribute a significant 67.5% to the overall sales value followed by Kerala with 15.2% and Gurugram with 8.8%.
Meanwhile, the company?s board has declared a dividend of Rs 3 per share for financial year 2023-2024.
Jagadish Nangineni, managing director, SOBHA, said, ??Financial year 2023-24 was an exceptional year for SOBHA with best ever sales, collections, new project launches and an increased pace of project completions in the real estate segment. It underscores our team's focus and commitment to growth, SOBHA's strong brand value in the consumer minds and deep stakeholder trust. In this year, not only did we deliver good operational performance, we have made significant progress to strengthen our foundation for future growth. We are now very well positioned, financially and operationally, to capture the growth opportunities that India presents in an upbeat economic environment.?
Sobha is engaged in the business of real estate construction, development, sale, management and operation of all or any part of townships, housing projects, commercial premises and other related activities. The company is also engaged in manufacturing activities related to interiors, glazing and metal works and concrete products which also provides backward integration to Sobha?s turnkey projects.
The scrip declined 1.75% to end at Rs 1830 on the BSE.
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18-May-2024 (15:00) Kirloskar Ferrous Industries Ltd leads losers in 'A' group
Astral Ltd, Delhivery Ltd, Kiri Industries Ltd and Jupiter Wagons Ltd are among the other losers in the BSE's 'A' group today, 18 May 2024.
Kirloskar Ferrous Industries Ltd crashed 4.82% to Rs 690.3 at 18-May-2024 EOD IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 2.58 lakh shares were traded on the counter so far as against the average daily volumes of 54289 shares in the past one month.
Astral Ltd lost 4.82% to Rs 2193.3. The stock was the second biggest loser in 'A' group.On the BSE, 29513 shares were traded on the counter so far as against the average daily volumes of 16723 shares in the past one month.
Delhivery Ltd tumbled 3.96% to Rs 435.9. The stock was the third biggest loser in 'A' group.On the BSE, 75410 shares were traded on the counter so far as against the average daily volumes of 55643 shares in the past one month.
Kiri Industries Ltd fell 3.60% to Rs 357.55. The stock was the fourth biggest loser in 'A' group.On the BSE, 34572 shares were traded on the counter so far as against the average daily volumes of 24418 shares in the past one month.
Jupiter Wagons Ltd dropped 2.42% to Rs 515.9. The stock was the fifth biggest loser in 'A' group.On the BSE, 1.12 lakh shares were traded on the counter so far as against the average daily volumes of 3.28 lakh shares in the past one month.
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18-May-2024 (14:45) Vindhya Telelinks Ltd leads losers in 'B' group
Semac Consultants Ltd, N K Industries Ltd, International Conveyors Ltd and MRO-TEK Realty Ltd are among the other losers in the BSE's 'B' group today, 18 May 2024.
Vindhya Telelinks Ltd tumbled 5.00% to Rs 2385.85 at 18-May-2024 EOD IST.The stock was the biggest loser in the BSE's 'B' group.On the BSE, 7108 shares were traded on the counter so far as against the average daily volumes of 1829 shares in the past one month.
Semac Consultants Ltd lost 5.00% to Rs 1228.75. The stock was the second biggest loser in 'B' group.On the BSE, 63 shares were traded on the counter so far as against the average daily volumes of 312 shares in the past one month.
N K Industries Ltd crashed 4.99% to Rs 57.83. The stock was the third biggest loser in 'B' group.On the BSE, 141 shares were traded on the counter so far as against the average daily volumes of 209 shares in the past one month.
International Conveyors Ltd dropped 4.99% to Rs 84.87. The stock was the fourth biggest loser in 'B' group.On the BSE, 34589 shares were traded on the counter so far as against the average daily volumes of 65785 shares in the past one month.
MRO-TEK Realty Ltd shed 4.99% to Rs 96.11. The stock was the fifth biggest loser in 'B' group.On the BSE, 7470 shares were traded on the counter so far as against the average daily volumes of 24633 shares in the past one month.
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18-May-2024 (14:30) Volumes soar at MTAR Technologies Ltd counter
Delhivery Ltd, JM Financial Ltd, Laxmi Organic Industries Ltd, Zee Entertainment Enterprises Ltd are among the other stocks to see a surge in volumes on NSE today, 18 May 2024.
MTAR Technologies Ltd recorded volume of 2.54 lakh shares by 12:49 IST on NSE, a 1.56 times surge over two-week average daily volume of 1.62 lakh shares. The stock gained 3.68% to Rs.2,042.30. Volumes stood at 7.02 lakh shares in the last session.
Delhivery Ltd recorded volume of 10.27 lakh shares by 12:49 IST on NSE, a 1.13 times surge over two-week average daily volume of 9.13 lakh shares. The stock lost 4.17% to Rs.434.85. Volumes stood at 17.15 lakh shares in the last session.
JM Financial Ltd registered volume of 20.89 lakh shares by 12:46 IST on NSE, a 1.08 fold spurt over two-week average daily volume of 19.31 lakh shares. The stock rose 0.49% to Rs.82.00. Volumes stood at 24.8 lakh shares in the last session.
Laxmi Organic Industries Ltd notched up volume of 6.49 lakh shares by 12:49 IST on NSE, a 1.07 fold spurt over two-week average daily volume of 6.08 lakh shares. The stock rose 3.52% to Rs.259.10. Volumes stood at 10.63 lakh shares in the last session.
Zee Entertainment Enterprises Ltd saw volume of 118.41 lakh shares by 12:49 IST on NSE, a 0.98 fold spurt over two-week average daily volume of 121.20 lakh shares. The stock increased 4.37% to Rs.140.85. Volumes stood at 82.93 lakh shares in the last session.
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18-May-2024 (13:05) Godrej Inds slides on reporting net loss of Rs 312 cr in Q4
Revenue from operations declined 5.87% year on year (YoY) to Rs 4,567.27 crore during the quarter ended 31 March 2024.
Profit before tax stood at Rs 122.34 crore in fourth quarter of FY24, declining by 82% from Rs 678.72 crore posted in same quarter last year.
Profit before interest tax depreciation and tax (PBIT) declined 43% to Rs 592 crore in Q4 FY24 from Rs 1,042 crore posted in corresponding quarter last year.
On full year basis, the company?s consolidated net profit tumbled to Rs 59.97 crore in FY24 as against Rs 974.78 crore recorded in FY23. Revenue from operations marginally decreased to Rs 16,600.62 crore in FY24 as compared to 16,740.25 crore reported in FY23.
Meanwhile, the company's board has approved an investment of up to Rs 10 crore in Clean Max Kaze / Clean Max Enviro Energy Solutions or any other entity. This approval is in accordance with the Gujarat Renewal Energy Policy, 2023, and is granted even if the total investment exceeds the limits set by the Act, subject to further approval.
Godrej Industries, a Godrej Group Company, is a conglomerate with a significant presence in home and personal care, animal feeds, dairy and agri-products, poultry, oil palm plantation and real estate.
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18-May-2024 (13:05) Granules India Ltd gains for third consecutive session
Granules India Ltd gained for a third straight session today. The stock is quoting at Rs 406.75, up 1.19% on the day as on 12:46 IST on the NSE. The benchmark NIFTY is up around 0.16% on the day, quoting at 22502. The Sensex is at 74005.94, up 0.12%. Granules India Ltd has slipped around 1.12% in last one month.
Meanwhile, Nifty Pharma index of which Granules India Ltd is a constituent, has slipped around 3.82% in last one month and is currently quoting at 18981.6, up 0.67% on the day. The volume in the stock stood at 1.69 lakh shares today, compared to the daily average of 9.04 lakh shares in last one month.
The benchmark May futures contract for the stock is quoting at Rs 407, up 0.33% on the day. Granules India Ltd is up 47.21% in last one year as compared to a 23.61% spurt in NIFTY and a 57.6% spurt in the Nifty Pharma index.
The PE of the stock is 22.33 based on TTM earnings ending March 24.
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