TCS Q1FY21 earnings were below our estimates on all fronts as Covid-19 pandemic disrupted the business performance of the company. Consolidated revenue stood at Rs 3,83,220 mn, below our estimate of Rs 3,95,458 mn, registering +0.4% YoY/-4.1% QoQ. Consolidated EBIT stood at Rs 90,480 mn, down by -1.9% YoY/-9.7% QoQ. On the margins front, EBIT margin contracted by 54bps YoY to 23.6% due to higher employee costs and depreciation expenses. Consolidated PAT saw a decline of 13.8% YoY to Rs 70,090 mn, vs 81,270 mn in Q1FY20 due to lower other...
Added 9 new customers during the year mostly in heavy engineering and in automotive domain. Some of the customers have the potential to translate into USD 1 Mn+ accounts in the near future. Asia-Pacific region (contributing 17% of Group revenues) declined by 16.6% largely owing to lockdown imposed in the last week of...
Kataria family promoted D. P. Abhushan Ltd (DPAL) is engaged into the retail business of Gold and Diamond Jewellery & Ornaments. At present, company has four showrooms situated at various places from where it operates its Jewellery stores. Company has high growth potential in organised Indian jewellery sector backed by : 1) Strong Brand image; 2) Store Expansion plan 3) Improving gross margins due to better sales mix and lower cost of sales. We estimate DPAL to record PAT CAGR of 12% over the period of FY20-22E backed by improvement in gross...
Marico's Q1FY21 earnings were above our estimates on all fronts. Consolidated revenue stood at Rs 19,250 mn, above our estimate of Rs 18,470 mn, registering a growth of +28.68% QoQ/-11.13% YoY. Reported EBITDA grew by +65.60% QoQ/+0.86% YoY to Rs 4,670 mn, above our estimate of Rs 3,694 mn, while EBITDA margin expanded by 541bps QoQ/288bps YoY, aggressive cost control and rationalization of A&P; spends in few discretionary portfolios on a lower topline, will lead to expansion of operating margins compared to the corresponding quarter last year. PAT for...
Ramco Cement reported weak set of numbers in Q4FY20 with fallen annual figures but a solid growth sequentially. The standalone topline degrowth was at -9.3% YoY/8.8% QoQ to Rs 13,899 mn, EBITDA for the quarter fell by 14.1% YoY/37.6% QoQ to Rs 2,792 mn and Net Profit stayed at Rs 1,462 mn, down 11.6% YoY/up 54.2% QoQ. EBITDA margin for the quarter contracted sharply by 113 bps at 20.1% for Q4FY20, primarily due to higher sales and promotion expenses incurred by the company during the quarter and negative operating leverage caused by the COVID-19-led shutdown that marred sales during the last week of March. Realisation for the quarter...
Hero MotoCorp reported weak performance during Q4FY20 with a 20.9% YoY fall in revenue to Rs 62,384 mn was impacted due to disruptions caused by covid-19 in late March. It had reported a revenue of Rs 78,850 mn in the corresponding quarter last year. Profit of the company declined by 15% YoY to Rs6207 mn in Q4FY20 while on a sequential basis profit fell by 29.50%.EBITDA stood at Rs 6599mn down by 38.3% YoY for the Q4FY20 as compared to Rs 10,693 mn for the Q4Y19. EBITDA margin narrowed to 10.6% in Q4FY20 as compared to 13.6% in Q4FY19. The two-wheeler major...
Hero MotoCorp reported weak performance during Q4FY20 with a 20.9% YoY fall in revenue to Rs 62,384 mn was impacted due to disruptions caused by covid-19 in late March. It had reported a revenue of Rs 78,850 mn in the corresponding quarter last year. Profit of the company declined by 15% YoY to Rs6207 mn in Q4FY20 while on a sequential basis profit fell by 29.50%.EBITDA stood at Rs 6599mn down by 38.3% YoY for the Q4FY20 as compared to Rs 10,693 mn for the Q4Y19. EBITDA margin narrowed to 10.6% in Q4FY20 as compared to 13.6% in Q4FY19. The two-wheeler major...
Sundaram Finance (SUF) reported mixed performance during Q4FY20. Operating performance of the company was in-line with our estimates while profit was impacted due to higher provisioning. NII for the quarter grew by 5% YoY to Rs 426 cr vs. exact match of our NII estimate. Operating profit growth was at 6% YoY to Rs 281 cr vs. our estimate of Rs 222 cr. Profit for the quarter stood at Rs 131 cr was impacted due to higher provisioning at 172% YoY (Arihant Estimate: Rs 196 cr). Net profit figure for Q4FY19 included an exceptional one-time income of Rs 592 cr on account of sale of...
TVS Motor (TVS) reported a 44.8% YoY decline in its standalone net profit to Rs739mn for the Q4FY20 due to a 30% fall in its quarterly total sales volume. The company had reported a profit Rs1338mn in Q4FY19. The company has reported a decline of 21% YoY in its standalone revenue from operations at Rs34,814mn for the Q4FY20 under review as compared to Rs43,840 mn in the Q4FY19. EBITDA stood at Rs 2449mn, down 20.5% YoY for Q4FY20 as compared to Rs 3081mn in the Q4FY19, EBITDA margin was flat at 7% in Q4FY20 on account of negative operating...
Dabur India Q4FY20 earnings were below our projections with a miss in Revenue, EBITDA and PAT front. The company has reported a lower net profit at Rs 281 crore for the quarter under review as compared to Rs 370 crore for the same quarter in the previous year, impacted on account of lockdown during the second half of March 2020. Net sales dropped by 12.3% at Rs 1,865 crore for Q4 FY20 as compared to Rs 2,128 cr for the Q4FY19, EBITDA declined 23% YoY to Rs 352 crore for the Q4FY20 from Rs 457 crore for the Q3FY19 and EBITDA margin...
