Published on: January 27, 2025
It looks like Q3 results for several big companies have been coming in today, and there are some notable highlights:
Coal India saw a 17% drop in net profit, which fell to ₹8,491 crore, primarily due to lower sales.
Indian Oil Corporation (IOC) posted a huge 64% drop in net profit, down to ₹2,873 crore, driven by inventory and forex losses, despite record fuel sales.
Piramal Enterprises reversed its previous year’s loss and reported a profit of ₹39 crore, and also received approval from the RBI for a name change of its housing finance arm.
Emami showed solid growth, with a 7% increase in net profit to ₹279 crore, supported by strong volume growth in their core business.
Wonderla Holidays saw a sharp drop in net profit, down 46% to ₹20 crore, due to lower revenues.
Adani Wilmar doubled its net profit to ₹411 crore, driven by strong sales in edible oils.
Canara Bank posted a solid 12% increase in net profit to ₹4,014 crore, with strong growth in deposits and advances.
There’s also a mixed bag of results from other sectors, including logistics, healthcare, and cement companies.
Published on: January 27, 2025
DCB Bank's shares slipped 8.80% to Rs 123.55 in intraday trade on Monday, despite reporting a strong 19.6% year-on-year rise in net profit for the third quarter of FY25, which reached Rs 151.4 crore. The private sector lender’s net interest income (NII) rose by 14.5% to Rs 543 crore, and it saw a significant 23% growth in advances and a 20% increase in deposits.
The bank's asset quality improved, with its gross non-performing asset (GNPA) ratio declining to 3.11% from 3.29% in the previous quarter. Despite these positive figures, DCB Bank’s stock faced a sharp decline, raising concerns about its profitability metrics. The bank’s provision coverage ratio (PCR) stood at 74.76%, while its capital adequacy ratio (CAR) remained robust at 16.29%.
Despite strong financials, the market appears cautious, with the stock listed at a price-to-earnings ratio of 6.26. As of 10:54 AM, DCB Bank's shares were trading at Rs 102.45, while the broader BSE Sensex was down by 0.92%.
Published on: January 27, 2025
Several stocks are likely to capture attention in today’s trade, following important updates on earnings and market developments. ICICI Bank posted a strong Q3 FY25 standalone net profit of ₹11,790 crore, surpassing estimates, while Godrej Consumer reported a decline in profit despite a slight revenue increase. JSW Steel's net profit plummeted 71% YoY after an exceptional charge, but its steel production hit a record high.
InterGlobe Aviation, KEC International, DLF, and others also reported varied results, affecting investor sentiment. Meanwhile, in the pharma sector, stocks of Indian companies with exposure to antiretroviral (ARV) medicines, such as Laurus Labs, Cipla, Aurobindo Pharma, and Strides Pharma, took a hit following a U.S. government freeze on foreign aid funding, impacting HIV treatment programs in Africa.
Notable developments also include Shriram Finance’s massive profit increase, the announcement of a potential stake sale in Religare Enterprises, and KEC International’s fresh order wins. As markets react to these updates, watch for movements in sectors ranging from banking and real estate to pharmaceuticals and engineering.
Published on: January 27, 2025
Adani Wilmar Ltd. reported a remarkable 104% surge in consolidated net profit for the third quarter of fiscal 2025, reaching Rs 410.57 crore, surpassing analyst expectations of Rs 242.9 crore. This growth was fueled by double-digit revenue increases in the company’s edible oils and food & FMCG segments. Total revenue from operations rose 31% to Rs 16,859.3 crore, though slightly below the forecast of Rs 17,027.8 crore.
The company's operating profit (EBITDA) grew 57% to Rs 791.59 crore, outperforming estimates and pushing the margin up to 4.7%, well above the expected 3.2%. The edible oils segment, which saw a 38% revenue increase, faced a slight dip in branded palm oil sales, but other oils showed growth. The food and FMCG segment also contributed with a 22% revenue boost, reflecting solid demand across both traditional and e-commerce channels.
Despite a minor dip in volume in the industry essentials segment, overall performance showed strong resilience. Adani Wilmar’s stock saw a sharp 7.2% intraday rise, with analysts maintaining a positive outlook, offering a 30% upside potential on its 12-month target price of Rs 328. However, the stock remains down 26% over the past year.
Published on: January 24, 2025
Jaguar Land Rover (JLR), owned by Tata Motors, is grappling with declining profitability due to ongoing economic challenges in China, its key market. P.B. Balaji, Tata Motors’ CFO, highlighted that weak demand and the growing consumer shift toward electric vehicles (EVs) are negatively impacting sales of traditional luxury cars.
During the September quarter, JLR saw a 38% drop in wholesale volumes in China, contrasting with a 44% increase in North America and a 6% rise in Europe. Despite the tough market, Balaji stressed that JLR remains resilient and is focusing on product investments and inventory optimization.
Tata Motors is also ramping up its EV portfolio in India, with plans to launch a range of green vehicles, including an all-electric Jaguar, to compete in the rapidly growing market. The company remains committed to improving profitability and is on track to achieve a debt-free status for JLR by the end of this financial year.
Published on: January 24, 2025
Major packaged food companies like ITC, Nestle, Amul, Dabur, and Marico are significantly expanding their e-commerce platforms across multiple cities, tapping into the growing trend of online shopping.These companies are offering discounts of up to 30% to attract new customers, with a focus on direct-to-consumer (D2C) models rather than competing with quick commerce or larger e-commerce giants.
By owning their platforms, they can stock a full product range and save on distributor and retailer margins. ITC has partnered with SwopStore, while Nestle has extended its online reach in major cities like Mumbai with the help of logistics provider Delhivery.
Dabur and Amul have ramped up their delivery capabilities, with Amul also planning to introduce its quick commerce service. These strategic moves mark a shift from testing product launches to fully-fledged e-commerce operations, positioning these FMCG leaders for stronger growth in the online shopping space.
Published on: January 24, 2025
Bharat Petroleum Corporation Ltd (BPCL) has announced plans to build a 9 million tonnes per year oil refinery-cum-petrochemical complex in Andhra Pradesh, estimated to cost Rs 95,000 crore, making it India's most expensive refinery project to date.
The project will include a coastal refinery with a capacity to process crude oil, producing 3-3.5 million tonnes of fuel like petrol and diesel, and 3.8-4 million tonnes of petrochemical feedstock annually.
The Andhra Pradesh government has indicated possible capital subsidy incentives, though exact fiscal support will be finalized post-project studies. BPCL plans to acquire 6,000 acres of land and expects the refinery to be commissioned in 48 months after the final investment decision.
This marks India’s last greenfield refinery project, with BPCL also pursuing clean energy initiatives and a broader Rs 1.7 lakh crore investment plan in refining and fuel retailing.
Published on: January 24, 2025
JSW Steel reported a significant 70% year-on-year decline in net profit, which fell to Rs 717 crore for the quarter ended December 31, 2024, down from Rs 2,415 crore last year. Revenue from operations also dipped by 1% YoY to Rs 41,378 crore.
Despite the profit drop, the company saw a 2% increase in crude steel production to 7.03 million tonnes, with a 12% rise in steel sales. Strong domestic sales, up 14% YoY, supported by retail and institutional demand, offset a fall in steel realisations. Operating EBITDA for Indian operations was Rs 5,564 crore, marking a 20% YoY decline, while the EBITDA margin stood at 13.5%.
JSW Steel’s subsidiaries also showed mixed results, with Bhushan Power and Steel reporting Rs 5,340 crore in revenue and JSW Steel Coated Products posting a steady production and sales volume of 1.15 million tonnes. Shares of JSW Steel closed 0.2% higher at Rs 931.95 on the NSE.
Published on: January 24, 2025
ZEE Entertainment Enterprises (ZEEL) saw an impressive 180% year-on-year growth in its consolidated net profit, reaching Rs 164 crore for the third quarter of FY25. However, operating revenue fell by 3% YoY to Rs 1,979 crore, with a 1% sequential decline from the previous quarter.
The company's EBITDA surged 52% YoY to Rs 318 crore, with improved margins of 16.5%. While advertising revenue showed a modest 4% QoQ improvement, it declined 8% YoY due to a weak festive season and reduced FMCG ad spending. Subscription revenue rose by 7% YoY to Rs 982 crore, driven by both linear and digital growth.
For the nine months ended December 2024, ZEEL's profit jumped 283% YoY, despite a 6% drop in revenues. The stock closed at Rs 120.6 on January 23, with analysts recommending a "Hold" and a target price of Rs 156, reflecting a 29% upside potential.
Published on: January 24, 2025
The earnings season heats up as 80 companies are set to announce their financial results for Q3FY25, which ended on December 31, 2024. Key players such as IndiGo operator InterGlobe Aviation, JSW Steel, DLF, Godrej Consumer Products, and Supriya Lifescience are among those releasing their results today.
InterGlobe Aviation, which reported a net loss of Rs 987 crore for the September quarter, is expected to provide insights into its recovery trajectory. JSW Steel, which saw a significant drop in profits in the previous quarter, will likely address its performance amidst fluctuating steel prices.
DLF’s impressive growth in profits and revenues last quarter is another highlight, with market participants looking for further updates on its real estate ventures.
A comprehensive list of the 80 companies reporting today includes significant names across various sectors, from banking (Bank of India, AU Small Finance Bank) to pharmaceuticals (Torrent Pharma, Suven Life Sciences). Investors will be keenly watching these reports to gauge the overall economic health and industry-specific trends.
Published on: January 24, 2025
Indian markets are poised to open on a positive note on Friday (January 24), with GIFT Nifty futures trading 0.16% higher at 23,300.5, reflecting optimism in the broader market. Asian markets also showed signs of strength, with most major indices advancing, except for a slight dip in the Shanghai Composite.
Global sentiment remains upbeat following strong performances in the US, with the Dow Jones surging 400 points (0.93%) and the Nasdaq closing 0.22% higher after President Donald Trump’s call for lower interest rates and favorable oil prices during his speech at the World Economic Forum in Davos.
Technically, the Nifty faces resistance near 23,400, with support levels at 23,150 and 23,000, as per LKP Securities’ Senior Technical Analyst Rupak De.
The focus today will shift to corporate earnings, with JSW Steel, Shriram Finance, AU Small Finance Bank, DLF, and several others scheduled to release their Q3 results, potentially influencing market direction. Foreign Institutional Investors (FIIs) were net sellers of Rs 5,463 crore, while Domestic Institutional Investors (DIIs) bought equities worth Rs 3,713 crore, balancing the selling pressure.
Published on: January 24, 2025
Shares of Sobha plunged to a 52-week low of Rs 1,148.30, falling 6% in Friday’s intra-day trade, as growth concerns and market underperformance continued to weigh on investor sentiment. The real estate company has seen a significant 27% drop in its stock price so far in January 2025, compared to a 2.7% decline in the BSE Sensex and a 17% drop in the BSE Realty index.
Despite posting a 17.8% increase in sales value to Rs 1,388 crore in the December quarter (Q3FY25), Sobha’s new sales area saw a significant YoY decline of 42%, raising concerns about slowing demand. The company remains heavily reliant on the Bengaluru market, which accounted for nearly half of its sales in recent periods.
Analysts cite moderation in real estate demand and delays in approvals as key risks for the company’s growth. Sobha’s ongoing expansion plans include a pipeline of approximately 19 million square feet over the next two years, but its high debt levels, despite a recent rights issue to raise Rs 2,000 crore, continue to be a concern. Analysts anticipate improvement in debt ratios, but Sobha is still exposed to market and execution risks related to its large unsold inventory and upcoming projects.
Published on: January 24, 2025
Shares of Tejas Networks fell by as much as 9.4% to Rs 994.05 on the BSE, following concerns over a sharp decline in its order book and a significant increase in inventory levels for Q3FY25. The Tata Group-owned telecommunications equipment maker reported a substantial drop in its order book, which shrank to Rs 2,681 crore from Rs 4,845 crore in the previous quarter, despite a strong financial performance.
The company posted a net profit of Rs 165.67 crore, reversing a loss of Rs 44.87 crore from the same period last year, with revenue surging 346% year-on-year to Rs 2,497.30 crore. However, the sharp rise in inventory levels, which reached Rs 2,683 crore, raised concerns about the company’s future growth prospects.
Tejas Networks attributed the increase to investments in scaling R&D and operational capabilities for large projects, including a significant order from Tata Consultancy Services (TCS) for BSNL's 4G network deployment.
The stock, which had gained over 35% in the past year, has faced downward pressure recently, declining 20% over six months and 15% in the past month alone. With the stock now trading near its consensus target price of Rs 1,100, concerns about sustainability of growth are impacting investor sentiment. The company also appointed Sanjay Malik, former India Country Head of Nokia, as its new EVP – Chief Strategy and Business Officer to drive strategic growth.
Published on: January 24, 2025
The Indian government is finalizing a relief package worth over Rs 82,000 crore aimed at providing reprieve to non-telecom companies burdened with Adjusted Gross Revenue (AGR) dues. The package, expected to be announced alongside the Union Budget, will exclude non-telecom revenues from AGR calculations, waive 50% of interest charges, and eliminate penalties.
This retrospective relief builds on the 2021 telecom reforms and is designed to assist companies like Gujarat Narmada Valley Fertilizers Company (GNFC) and Railtel, which face significant AGR liabilities.
The government emphasizes the importance of this relief for the survival of firms whose dues far exceed their net worth, although it comes with the condition that all ongoing legal challenges must be withdrawn.
AGR disputes, which began in 1999, have had lasting financial implications, with telecom operators contesting the inclusion of non-telecom revenues in the calculations. The new package could be a game-changer for many affected firms, potentially offering a long-awaited financial cushion.
Published on: January 24, 2025
YES Bank is set to announce its earnings for the December 2024 quarter on Saturday, January 25, 2025, with analysts predicting a solid year-on-year (YoY) performance despite flat quarter-on-quarter (QoQ) growth. The private lender’s loans and advances grew 12.6% YoY, while deposits rose 14.6% YoY. The bank’s CASA deposits saw a robust increase of 27.6% YoY.
While analysts expect YES Bank to report a double-digit YoY growth in net interest income (NIIs), they anticipate a slight contraction in net interest margins (NIMs). Profit after tax (PAT) is expected to more than double YoY, with analysts forecasting a significant rise in net profit. However, QoQ growth is expected to remain largely muted.
Kotak Institutional Equities expects a 10% YoY rise in NIIs, with a marginal decline in NIMs. Emkay Financial Services anticipates a 12.5% YoY growth in NIIs, with a flat sequential performance. On the other hand, Anand Rathi sees an 11.3% YoY rise in NIIs for Q3FY25. Despite these positive projections, YES Bank's shares have faced a significant decline over the past year, falling 44% from their 52-week high, and have been down more than 25% in the last six months.