Sharekhan Broker Research reports

CESC’s Q4FY25 consolidated revenue/operating profit/PAT grew by 1.5%/ -3.1%/ -6.8% y-o-y to Rs. 4,017/ 952 / 373 crore.

Q4FY25 revenues rose 34% led by robust growth across segments. Consumer durables segment did well, growing 27%, on strong demand for RAC and non-RAC products.

GCPL’s Q4FY25 performance was soft with consolidated revenue growing by 6% y-o-y with a 5% volume growth, OPM declining by 136 bps y-o-y to 21.1% and adjusted PAT lower by 21.2% y-o-y to Rs. 443 crore.

Strong operational performance had a positive surprise with revenue growth of 7% to Rs 9,150 crore versus our expectations of Rs 8,920 crore, margins too shone, with OPM improving by 407 bps.

Marico’s Q4FY25 numbers were a mixed bag, led by sequential improvement in volume growth in the domestic business and revenue beating estimates, while OPM fell y-o-y and missed estimates.

JFL delivered 12.1% LFL growth (delivery LFL growth of 21.9%) in Domino’s’ India in Q4FY25 amid subdued demand, beating peers for another quarter. Standalone performance was good, with revenues growing by 19.2% y-o-y to Rs. 1,587 crore on strong delivery-led growth in Domino’s.

Tata Power Company Limited’s (TPCL) Q4FY25 Adjusted PAT grew by 14.5% y-o-y to Rs. 1,025 crore and was a little ahead of estimates. The earnings growth is attributable to the traditional generation, coal, Tata Power Solar (cell & module plant), Odisha discoms and a lower tax rate.

Consolidated revenue stood at Rs. 1,178.8 crore (up 9.3% y-o-y) in Q4FY25, while OPM grew 18 bps y-o-y to 10.3%.

RKL’s Q4FY25 numbers were good, with net revenue growing by 20.9% y-o-y to Rs. 1,304 crore and OPM rising by 225 bps y-o-y to 13.6%, which led to adjusted PAT growth of 59.5% y-o-y to Rs. 91 crore.

Consolidated revenue stood at Rs 47,876 crore, up 6.1% q-o-q/ 27.3% y-o-y nearly in line with our estimates of Rs 47,528 crore, driven by strong underlying momentum in India, rebound in reported CC revenue growth in Africa and full quarter impact of Indus Towers consolidation.