Top Stories

Snapshot of Q2 Earnings, performances and market developments.

Nov 2, 2023

By: BlinkX Research Team

A recent flash of results and calls reveals a mixed picture across diverse sectors, with some companies meeting expectations and others facing challenges. From energy providers to pharmaceutical giants, these snapshots offer a glimpse into the financial health and strategic outlook of various organizations, shedding light on the complexities and opportunities that are becoming apparent during Q2FY24.

IGL (In-line): 
IGL reported stable EBITDA and volumes this quarter, with an interim dividend of Rs. 4 per share. Gross spread saw a slight decrease, and EBITDA per scm remained unchanged.

Greenpanel (Weak): 
Greenpanel faced a 9% drop in MDF domestic volumes, resulting in a 4% earnings per share (EPS) miss due to reduced margins in Plywood MDF.

Ambuja (Big Miss): 
Ambuja's volume growth of 2% led to a 10% revenue miss and a 12% drop in EPS. EBITDA also decreased by 8% compared to the previous quarter.

Sun Pharmaceuticals (Inline): Sun Pharma reported an 11% revenue increase, primarily driven by domestic formulations. However, EBITDA margin was slightly below estimates.

Relaxo: 
Relaxo exhibited a strong quarterly performance, with a 7% revenue growth and a substantial expansion in EBITDA margins.

Cera Sanitaryware (In-line): 
Cera Sanitaryware reported an 11% increase in revenue with EBITDA margins up by 16bps, mainly due to a premium product mix.

Triveni Turbine (Inline): 
Triveni Turbine witnessed a 32% growth in revenue and EBITDA, resulting in a PAT beat.

Bharti Airtel: 
Bharti Airtel observed improved device shipments during Diwali, although ARPU growth remains subdued due to a price difference between 2G and 4G plans.

PNC: 
The Ministry of Roads, NHAI, and NHIDCL aim to award 12,500km of projects in FY24. However, 1HFY24 saw lower awards as NHAI postponed bids to 2HFY24.

Tata Consumer: 
Tata Consumer noted some stress in rural areas, possibly due to inflation and erratic monsoons.

Greenpanel: 
Greenpanel adjusted its guidance, expecting lower MDF volume growth for FY24 and margin estimates while planning for growth in FY25.