14-May-2024 (10:59) Jindal Steel & Power rallies Q4 PAT soars to Rs 933 cr
Revenue from operations fell 1.5% to Rs 13,486.96 crore in Q4 FY24 as compared with Rs 13,691.93 crore in Q4 FY23.
Profit before tax jumped 44.45%YoY to Rs 1,163.52 crore in Q4 FY24.
The company?s EBITDA, adjusted for one-off FX loss of Rs 68 crore, for Q4 FY24 was Rs 2,512 crore (up 12.14% YoY). It was driven by reduction in raw material cost, partly offset by lower NSR during the quarter
The production and sale of steel stood at 2.05 million tonnes (MT) (up 1.49% YoY) and 2.01 MT (down 0.99% YoY), respectively.
Share of exports remained stable at 11% in Q4 FY24 as compared with Q4FY23.
During the quarter, the total capex was Rs 2,523 crore and net debt stood at Rs 11,203 crore.
On full year basis, the company?s consolidated net profit jumped 86.13% to Rs 5,943 crore despite 5.09% decline in revenue from operations to Rs 52,711.18 crore in FY24 over FY23.
Meanwhile, the company?s board has declared a final dividend of Rs 2 per equity share for FY24.
Jindal Steel & Power is a leading Indian infrastructure conglomerate with a presence in the steel, power, and mining sectors.
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14-May-2024 (11:00) Volumes jump at Sundram Fasteners Ltd counter
C.E. Info Systems Ltd, TVS Motor Company Ltd, Sanofi India Ltd, Finolex Industries Ltd are among the other stocks to see a surge in volumes on BSE today, 14 May 2024.
Sundram Fasteners Ltd witnessed volume of 4.22 lakh shares by 10:46 IST on BSE, a 47.2 times surge over two-week average daily volume of 8945 shares. The stock increased 0.14% to Rs.1,135.30. Volumes stood at 55687 shares in the last session.
C.E. Info Systems Ltd saw volume of 23240 shares by 10:46 IST on BSE, a 2.65 fold spurt over two-week average daily volume of 8760 shares. The stock increased 4.38% to Rs.2,001.20. Volumes stood at 14341 shares in the last session.
TVS Motor Company Ltd notched up volume of 1.14 lakh shares by 10:46 IST on BSE, a 2.03 fold spurt over two-week average daily volume of 56135 shares. The stock rose 2.52% to Rs.2,119.95. Volumes stood at 41376 shares in the last session.
Sanofi India Ltd witnessed volume of 2253 shares by 10:46 IST on BSE, a 1.98 times surge over two-week average daily volume of 1139 shares. The stock increased 0.36% to Rs.8,049.00. Volumes stood at 632 shares in the last session.
Finolex Industries Ltd witnessed volume of 1.47 lakh shares by 10:46 IST on BSE, a 1.76 times surge over two-week average daily volume of 83604 shares. The stock increased 6.65% to Rs.289.45. Volumes stood at 43188 shares in the last session.
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14-May-2024 (10:40) Chalet Hotels Q4 PAT soars 125% to Rs 82 cr
Revenue from operations jumped 23.8% YoY to Rs 418.26 crore in the quarter ended 31 March 2024.
Profit before tax surged 38.6% to Rs 99.03 crore in Q4 FY24 as compared with Rs 71.46 crore in Q4 FY23.
EBITDA jumped 18% to Rs 189 crore in Q4 FY24 as against Rs 160.3 crore recorded in corresponding quarter last year. EBITDA margin reduced to 44.5% in Q4 FY24 from 46.4% in Q4 FY23.
The company's hospitality segment reported revenue of Rs 383 crore, up 24% from Q4 FY23. Rental / annuity business stood at Rs 35.4 crore, up by 26% over Q4 FY23.
Occupancy was at 76% in Q4 FY24 as against 74% in Q4 FY23.
The revPAR, or revenue per available room, was Rs 898.4 crore in Q4 FY24, up 7% compared with Rs 836.3 crore in the same quarter last year. In Q4 FY24, same store ARR stood at Rs 12,159, up by 8% over Q4FY23
On full year basis, the company's consolidated net profit climbed 51.7% to Rs 278.17 crore on 25.6% rise in revenue to Rs 1417.25 crore in FY24 over FY23.
Sanjay Sethi, MD & CEO, Chalet Hotels, said, ?I am very pleased with the consecutive record quarters of operating performances at Chalet. Historically, Chalet has followed the path of high capital productivity through an optimal leverage in its balance sheet. This strength, along with exciting portfolio & pipeline growth, a successful capital raise and with our ability to deliver high returns, reiterates our commitment to our stakeholders. The team also continued to deliver strong progress on our ESG plans.?
Chalet Hotels is an owner, developer, asset manager and operator of high-end hotels in key metro cities in India. CHL portfolio comprises of seven operating hotels, including a hotel with a co-located serviced residence, which are situated across the markets of the Mumbai Metropolitan Region, Hyderabad, Bengaluru and Pune.
The scrip declined 3.30% to Rs 786 on the BSE.
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14-May-2024 (10:31) DLF PAT climbs 62% YoY to Rs 919 cr in Q4 FY24
Revenue from operations grew 46.62% year on year (YoY) to Rs 2,134.81 crore in the quarter ended 31 March 2024.
Profit before tax in fourth quarter of FY24 stood at Rs 801.59 crore, registering a growth of 101.71% from Rs 397.39 posted in Q4 FY23.
During Q4 FY24, EBITDA grew 81% to Rs 936 crore during the period under review. EBITDA margin improved to 40% in Q4 FY24 as compared to 33% recorded in the corresponding quarter previous year.
The company generated healthy surplus cash of Rs 1,105 crore from operations in fourth quarter of FY 2023-24.
On full year basis, the company's consolidated net profit rose 33.95% to Rs 2,727.09 crore on 12.86% rise in revenue from operations to Rs 6,427 crore in FY24 over FY23.
DLF said: ?Our development business continues to witness strong momentum and consequently recorded healthy sales booking of Rs 14,778 crore during the year.
The demand momentum in the residential segment is expected to stay strong and consequently we remain focused on bringing a calibrated supply across multiple micro markets. We plan to launch more than 11 msf of new products during FY25. The estimated sales potential of these launches is approximately Rs 36,000 crore.
We acquired a strategic opportunity in Sector-61, Gurugram offering a sizeable potential of approximately 7.5 msf and an estimated sales potential of more than Rs 20,000 crore, which we expect to monetize over the next few years.?
?Our office business continued to deliver a healthy performance during the period. The retail segment too continues to deliver strong growth. FY24 consolidated revenue of DLF Cyber City Developers stood at Rs 5,903 crore, reflecting YoY growth of 9%; consolidated profit for the quarter stood at Rs 1,690 crore, a YoY growth of 18%. Cash flow from operations stood at Rs 2,726 crore for the fiscal.
Occupancy levels across our Non-SEZ portfolio remain healthy at 97% and we expect a steady recovery across the SEZ segment over the next few quarters given the announcement on floor-wise denotification.
Our retail business exhibited 18% YoY growth during the period. We continue to remain enthused about the strong potential of our retail business and consequently are investing to further grow our retail offerings across multiple geographies. Our business remains well poised to deliver consistent and profitable growth, the real-estate developer added.
Meanwhile, the company?s board recommended a dividend of Rs 5 per equity share for the financial year ended 31 March 2024, subject to approval of the shareholders. The date up to which the dividend will be paid will be intimated in due course, said the firm.
DLF is one of the oldest and largest real estate companies in India. It has a diverse asset portfolio across the real estate segment and is further expanding its presence across the country. The company has experience in developing real estate projects across business and customer segments.
The scrip rose 0.33% to currently trade at Rs 840.60 on the BSE.
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14-May-2024 (10:01) Utilties stocks edge higher
Among the components of the S&P BSE Utilities index, Torrent Power Ltd (up 4.13%), KPI Green Energy Ltd (up 3.79%),NHPC Ltd (up 2.66%),Va Tech Wabag Ltd (up 2.62%),Gujarat Industries Power Co Ltd (up 2.59%), were the top gainers. Among the other gainers were Tata Power Company Ltd (up 2.46%), SJVN Ltd (up 2.39%), NLC India Ltd (up 2.32%), EMS Ltd (up 2.06%), and JSW Energy Ltd (up 1.86%).
On the other hand, Waaree Renewables Technologies Ltd (down 5%), Adani Green Energy Ltd (down 1.24%), and RattanIndia Power Ltd (down 1.07%) turned lower.
At 09:42 IST, the S&P BSE Sensex was up 88.89 or 0.12% at 72865.02.
The Nifty 50 index was up 41.6 points or 0.19% at 22145.65.
The S&P BSE Small-Cap index was up 389.21 points or 0.86% at 45682.29.
The S&P BSE 150 Midcap Index index was up 50.6 points or 0.36% at 13969.64.
On BSE,2179 shares were trading in green, 720 were trading in red and 111 were unchanged.
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14-May-2024 (10:00) Real Estate shares gain
Among the components of the S&P BSE Realty Index index, Prestige Estates Projects Ltd (up 2.97%), Swan Energy Ltd (up 2.1%),Godrej Properties Ltd (up 1.78%),Macrotech Developers Ltd (up 1.26%),Mahindra Lifespace Developers Ltd (up 0.91%), were the top gainers. Among the other gainers were Sobha Ltd (up 0.73%), Brigade Enterprises Ltd (up 0.6%), DLF Ltd (up 0.44%), Oberoi Realty Ltd (up 0.29%), and Phoenix Mills Ltd (up 0.24%).
On the other hand, Phoenix Mills Ltd (down 0.05%), moved lower.
At 09:42 IST, the S&P BSE Sensex was up 88.89 or 0.12% at 72865.02.
The Nifty 50 index was up 41.6 points or 0.19% at 22145.65.
The S&P BSE Small-Cap index was up 389.21 points or 0.86% at 45682.29.
The S&P BSE 150 Midcap Index index was up 50.6 points or 0.36% at 13969.64.
On BSE,2179 shares were trading in green, 720 were trading in red and 111 were unchanged.
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14-May-2024 (10:00) Metal stocks rise
Among the components of the S&P BSE Metal index, Jindal Steel & Power Ltd (up 2.77%), Jindal Stainless Ltd (up 2.24%),NMDC Ltd (up 2.19%),Hindalco Industries Ltd (up 2.03%),JSW Steel Ltd (up 1.73%), were the top gainers. Among the other gainers were Steel Authority of India Ltd (up 1.43%), Vedanta Ltd (up 1.35%), Coal India Ltd (up 1.09%), and Tata Steel Ltd (up 0.73%).
On the other hand, APL Apollo Tubes Ltd (down 0.31%), turned lower.
At 09:42 IST, the S&P BSE Sensex was up 88.89 or 0.12% at 72865.02.
The Nifty 50 index was up 41.6 points or 0.19% at 22145.65.
The S&P BSE Small-Cap index was up 389.21 points or 0.86% at 45682.29.
The S&P BSE 150 Midcap Index index was up 50.6 points or 0.36% at 13969.64.
On BSE,2179 shares were trading in green, 720 were trading in red and 111 were unchanged.
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14-May-2024 (09:49) Manali Petro edges higher after decent Q4 performance
Total income during the quarter declined by 22% year-over-year to Rs 262.63 crore.
Total expenses in the fourth quarter fell by 26% to Rs 249.09 crore, primarily due to lower raw material costs (down 28% YoY) and lower other expenses (down 15% YoY).
Profit before tax in Q4 FY24 stood at Rs 8 crore, which is significantly higher as compared with the PBT of Rs 2.41 crore posted in Q4 FY23. Net tax outgor for the period under review was Rs 6.70 crore as against Rs 2.87 crore in the corresponding period last fiscal.
For FY24, Manali Petrochemical has reported net profit and total income of Rs 19.21 crore (down 62% YoY) and Rs 1,061.51 crore (down 12% YoY), respectively.
During the year, the company continued to get affected by the dumping of imported materials at cheaper prices and the increase in raw materials cost which have impacted our margins. Despite the temporary disruptions caused on account of Cyclone Michaung in the month of December 2023, the company could maintain its top line at consolidated level this year,? Manali Petrochemical said in a statement.
R Chandrasekar, managing director of MPL, commented: MPL's performance, despite severe dumping pressure from neighboring countries and resulting margin challenges, underscores our commitment to remain competitive as per market demand. We've appealed to the government for better policies to protect domestic players, aiming to achieve a level playing field in the near future.?
Seperately, Manali Petrochem informed that its board has approved setting up additional manufacturing facilities in Western Part of India.
Part of Singapore-based AM International Group, Manali Petrochemicals (MPL) is a leading petrochemical manufacturer. It markets propylene glycol and polyols.
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14-May-2024 (09:43) Aarti Pharmalabs jumps after Q4 PAT climbs 52% YoY to Rs 65 cr
Revenue from operations increased 4.27% YoY to Rs 505.77 crore in Q4 FY24.
Profit before tax stood at Rs 95.75 crore , up 62.73% YoY.
Total expenses fell 3.49% to Rs 412.05 crore in Q4 FY24 as compared with Rs 426.96 posted in corresponding quarter last year. Cost of material stood at Rs 201.52 crore ( down 11.22%YoY), employee benefit expense was at Rs 37.40 crore ( up 12.55% YoY), finance cost stood 4.68 crore ( down 21.23% YoY) during the period under review.
Meanwhile, the board has declared a dividend of Rs 1 per equity share of face value of Rs 5 each for FY24.
Aarti Pharmalabs (APL) is an established, internationally recognised manufacturer of Active Pharmaceutical Ingredients (API), pharmaceutical intermediates, New Chemical Entities (NCE), and xanthine derivatives situated in India.
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14-May-2024 (09:30) ICICI Bank Ltd Slides 0.31%
ICICI Bank Ltd fell 0.31% today to trade at Rs 1124. The S&P BSE BANKEX index is down 0.15% to quote at 54423.03. The index is down 0.84 % over last one month. Among the other constituents of the index, Axis Bank Ltd decreased 0.22% on the day. The S&P BSE BANKEX index went up 8.75 % over last one year compared to the 16.6% surge in benchmark SENSEX.
ICICI Bank Ltd has added 1.8% over last one month compared to 0.84% fall in S&P BSE BANKEX index and 2.09% drop in the SENSEX. On the BSE, 2008 shares were traded in the counter so far compared with average daily volumes of 4.95 lakh shares in the past one month. The stock hit a record high of Rs 1169.3 on 30 Apr 2024. The stock hit a 52-week low of Rs 898.85 on 26 Oct 2023.
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