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For Q1FY25, ITC reported consolidated net sales of INR 184,573 Mn (+7.5% YoY/ +3.0% QoQ), which was in line with our estimates. Gross margin declined by 130 bps YoY (-271 bps QoQ).
The Anup Engineering Limited” (erstwhile subsidiary company of Arvind Limited) was originally incorporated in the year 1962. In the year 2017 Arvind Limited decided to demerge.
Vinati Organics Ltd (VO) reported revenue of INR 5,247 Mn, up 19.6% YoY (-4.7% QoQ), largely in line with our estimate (-2.6% miss on estimated revenue). EBITDA grew to INR 1,247 Mn, up 24.2% YoY (-16.8% QoQ), missing our estimates on the back of higher raw material costs and power & fuel costs leading to an EBITDA margin of 23.8% (+88bps YoY / -348bps QoQ).
CIEINDIA is a large, diversified auto-components group with a presence across many processes, product lines, geographies, and customers. The company’s unique combination of specialization in high value-added products.
Ami Organics’ revenue missed our estimates due to a decline in price realization. EBITDA missed our estimates due to an increase in raw material costs and employee expenses.
