Buzzing Stocks: Eicher Motors, M&M, Hindalco, SAIL, Coal India, JSW Energy and others

Results on February 13: A total of 564 companies will be releasing their December quarter earnings on February 13, including Eicher Motors, Hindalco Industries, Siemens, Zee Entertainment Enterprises, IRCTC, Bharat Heavy Electricals, Bosch, National Aluminium Company, Ahluwalia Contracts, Gujarat Gas, Indiabulls Real Estate, Innova Captab, INOX India, Medi Assist Healthcare Services, MTAR Technologies, Info Edge India, NBCC (India), Oil India, Prestige Estates Projects, Rashtriya Chemicals & Fertilizers, and Sula Vineyards.

Mahindra & Mahindra: The automobile company reported production of 1,01,169 units in the month of January 2024, growing 32.4 percent over the corresponding period of the last fiscal. Sales grew by 17.7 percent YoY to 72,198 units, but exports fell 42 percent YoY to 1,746 units during January.

Hindalco Industries: Subsidiary Novelis has recorded net income attributable to the common shareholder at $121 million for the quarter ended December FY24, growing 10-fold over $12 million in the year-ago period. Net income, excluding special items, grew by 81 percent YoY to $174 million. Net sales decreased 6 percent YoY to $3.9 billion for the third quarter of fiscal year 2024, driven by lower average aluminum prices as shipments were in line with prior year levels. Adjusted EBITDA was up 33 percent YoY at $454 million.

Steel Authority of India: The state-owned steel company has reported consolidated net profit at Rs 423 crore for the October-December period of FY24, falling 22 percent on a high base as in Q3 FY23, there was an exceptional gain of Rs 298 crore. Revenue from operations fell 6.8 percent year-on-year to Rs 23,349 crore for the quarter.

JSW Energy: JSW Neo Energy, a wholly owned subsidiary of the company, has received a letter of award for a wind capacity of 500 MW from the Solar Energy Corporation of India (SECI). As per the construction of the bid, a 700 MW greenshoe option is available over the awarded capacity. This could further enhance the company’s total awarded capacity by 525 MW to a maximum of 1,025 MW.

Coal India: The country’s largest coal mining company recorded consolidated profit at Rs 9,093.7 crore for the third quarter of FY24, growing 17.8 percent over a year-ago period, backed by higher other income and a healthy operating margin with a fall in input costs. Revenue from operations grew by 2.8 percent YoY to Rs 36,154 crore for the quarter. The state-owned entity announced an interim dividend of Rs. 5.25 per share.

JM Financial: The company has reported a nearly 34 percent on-year increase in consolidated net profit at Rs 321.6 crore for the October–December period of FY24, with a healthy topline. Revenue from operations for the quarter increased by 33 percent YoY to Rs 1,236 crore, while net interest income grew by 19 percent YoY to Rs 274.5 crore in Q3 FY24.

Lemon Tree Hotels: The company has signed a license agreement for a new hotel in Marpalle, Telangana, under its brand, Lemon Tree Resort. This hotel will be spread over 5 acres and have 50 rooms, including 14 villas, of which 5 will be water villas. This hotel is expected to be operational in FY27.

Allcargo Logistics: The logistics services provider has reported an 88 percent year-over-year decline in consolidated profit at Rs 17.4 crore for the third quarter of FY24, impacted by lower topline and operating numbers. Revenue from operations fell by 22.2 percent YoY to Rs 3,211.6 crore for the quarter.

Apeejay Surrendra Park Hotels: AL Mehwar Commercial Investments L L C Treefish bought 20,90,992 equity shares in Park Hotels via open market transactions at an average price of Rs 186.15 per share; TT Asia-Pacific Equity Fund picked 11,25,349 equity shares at an average price of Rs 186.15 per share; and Quant Mutual Fund-Quant Small Cap Fund purchased 93,20,000 equity shares at an average price of Rs 196.33 per share. They bought a 5.87 percent stake in the company.

GSK Pharmaceuticals: The biopharma company recorded consolidated profit of Rs 45.72 crore for the October–December period of FY24, falling sharply by 72.2 percent over the corresponding period of the previous fiscal due to exceptional losses and a lower operating margin. Revenue from operations grew by 0.4 percent YoY to Rs 805.26 crore for the quarter.

Dilip Buildcon: The construction and infrastructure development company has registered a 3.3 percent on-year decline in consolidated profit at Rs 107.4 crore despite healthy topline and operating numbers, impacted by lower exceptional gains. Revenue from operations during the quarter at Rs 2,876.8 crore increased by 23.87 percent over a year-ago period.

Suzlon Energy: Vivek Srivastava has been appointed as CEO, WTG Division, reporting to the Group Chief Executive Officer of the company with effect from February 12.

BLS International Services: The tech-enabled services provider has clocked a 90 percent on-year growth in consolidated net profit at Rs 87.2 crore for the third quarter of FY24, despite muted topline, backed by strong operating performance and a low base in the year-ago period. Revenue from operations was flat at Rs 437.9 crore on a year-on-year basis.

Tilaknagar Industries: The alcoholic beverage company recorded consolidated net profit of Rs 43.8 crore for the quarter ended December FY24, falling 42.3 percent on a high base as profit in Q3 FY23 was boosted by exceptional gains. Revenue from operations (excluding excise duty) grew by 24.4 percent YoY to Rs 376.7 crore for the quarter.

Quess Corp: In the rectification order, the Deputy Commissioner of Income Tax reduced the original tax demand from Rs 300 crore to Rs 141 crore for the Assessment Year 2019-2020. The company filed an appeal before the Income Tax Appellate Tribunal (ITAT). The ITAT has now granted a conditional stay on 80 percent of the demand amount and directed the company to pay the remaining 20 percent before February 29, 2024.

GR Infraprojects: The construction engineering company has reported consolidated net profit of Rs 242.9 crore for the quarter ended December FY24, falling 25 percent compared to the year-ago period, impacted by weak topline and operating numbers. Revenue from operations fell 2.6 percent YoY to Rs 2,134 crore for the quarter. Meanwhile, the board has approved the acquisition of 100 percent equity shares of Pachora Power Transmission, a wholly owned subsidiary of REC Power Development and Consultancy. After this acquisition, Pachora Power Transmission will become a wholly owned subsidiary company of GR Infrastructure Projects.

HEG: The graphite electrode manufacturer has recorded consolidated net profit of Rs 43.7 crore for the third quarter of FY24, falling 58.3 percent compared to the corresponding period of the last fiscal. Revenue from operations increased 6 percent YoY to Rs 562.4 crore for the quarter.

Phoenix Mills: The company has recorded consolidated net profit of Rs 279.4 crore for the October–December period of FY24, growing 58.4 percent over the corresponding period of the previous fiscal. Revenue from operations increased by 44.2 percent YoY to Rs 986 crore for the quarter. Meanwhile, Anuraag Srivastava has resigned as Chief Financial Officer of the company, with effect from March 18, 2024.

Galaxy Surfactants: The performance surfactants and specialty care products manufacturer has reported a 32.8 percent on-year decline in consolidated net profit at Rs 71.37 crore for the third quarter of FY24, impacted by weak topline and operating numbers. Revenue from operations fell by 13.3 percent YoY to Rs 940.5 crore for the quarter.

Aurionpro Solutions: The company said the board of directors has approved the issue of up to 9,02,935 equity shares on a preferential basis, at a price of Rs 2,215 per equity share, aggregating to Rs 200 crore.

Skipper: The power transmission and distribution structure manufacturer has reported a 115.3 percent on-year increase in net profit at Rs 20.4 crore for the third quarter of FY24 despite weak operating margins, boosted by topline. Revenue from operations grew by 80.2 percent YoY to Rs 801.6 crore for the quarter, while reported EBITDA grew by 70.1 percent YoY to Rs 77.07 crore, but margin dropped 60 basis points to 9.6 percent in Q3 FY24.

Time Technoplast: The polymer products maker has clocked consolidated net profit of Rs 91.6 crore for the October–December period of FY24, rising 49.55 percent over the corresponding period of the last fiscal. Revenue from operations grew by 17.4 percent YoY to Rs 1,324.65 crore for the quarter.

Elgi Equipments: The air compressor manufacturer has reported consolidated net profit of Rs 83.88 crore for the October–December period of FY24, rising 4.8 percent over a year-ago period with healthy growth in operating margin due to a fall in input costs. Revenue from operations increased by 6.4 percent year-on-year to Rs 821.8 crore for the quarter.

Repco Home Finance: The housing finance company has registered a 23.1 percent on-year increase in net profit at Rs 99.44 crore for the third quarter of the current financial year 2023–24. Net interest income grew by 17.8 percent year-on-year to Rs 163.5 crore during the quarter.