Snapshot of Q2 Earnings, performances and market developments.

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.

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