Stocks to watch: Grasim, NBCC, Alkem, Sun TV, Berger Paints, Bajaj Consumer

Grasim Industries: The company reported a standalone net loss of ₹52.12 crore for Q1FY25, compared to a net profit of ₹355.27 crore in the same quarter last year. Revenue from operations increased 10.5% year-on-year to ₹6,893.87 crore. Standalone EBITDA declined 51.7% to ₹325.1 crore, with EBITDA margin compressing to 4.7%. Consolidated revenue stood at ₹33,860.7 crore, up 9% year-on-year. Consolidated net profit was ₹1,207.93 crore, down from ₹1,576.47 crore year-on-year. Consolidated EBITDA was lower by 4% at ₹4,760 crore. Grasim’s cement business added new capacity, and its paints brand, Birla Opus, expanded its market presence. Capital expenditure for Q1FY25 was ₹983 crore, with a budgeted standalone capex of ₹4,553 crore for FY25.

Aurobindo Pharma: The company reported a 61.3% YoY rise in net profit at ₹918 crore for Q1FY25, compared to ₹569 crore in the corresponding period last year. Revenue from operations stood at ₹7,567 crore, a 10.5% increase year-on-year. EBITDA rose 41% to ₹1,620 crore, with margins improving to 21.4% from 16.8%. The company received final approval for 10 ANDAs from the USFDA. Aurobindo Pharma announced a share buyback plan of up to ₹750 crore, buying up to 51,36,986 shares at ₹1,460 apiece.

NBCC: State-owned NBCC (India) received an order of ₹15,000 crore to develop a satellite township in Srinagar, Jammu & Kashmir. The project involves developing a township spread over 406 acres in Rakh-e-Gund Akshah, Bemina. The Srinagar Development Authority awarded the order to enhance urban infrastructure and living conditions.

Aavas Financiers: CVC Capital Partners emerged as the successful bidder for Aavas Financiers, formerly AU Housing Finance, on August 10, outbidding rival EQT. Current promoters Kedaara Capital and Partners Group will exit their investment after eight years with a 6x return. Holding a combined 26.47% stake, their exit will trigger an open offer for an additional 26% of shares from public shareholders, potentially leading to a change in control. CVC’s winning bid values Aavas at ₹13,019.67 crore, offering ₹1,635 per share. Aavas Financiers recently reported strong Q4 2024 financial results, with a 21.41% increase in revenue and a 12.34% rise in profit year-over-year.

Tata Technologies: The company received a letter from the Chhattisgarh government about the closure of the project to develop 36 government ITIs with a total project cost of ₹1,188.36 crore. Tata Technologies accepted the termination and agreed to refund the escrow amount. The company had signed a Memorandum of Agreement (MoA) on 23 July last year to upgrade 36 ITIs as Centers of Excellence. The company reported a 15.4% decline in consolidated profit after tax at ₹162.03 crore for the June 2024 quarter, with consolidated revenue from operations at ₹1,268.97 crore. Total expenses were higher at ₹1,072.33 crore. Tata Tech Standalone June 2024 net sales was ₹720.56 crore, up 11.33% Y-o-Y.

Berger Paints: The company reported a marginal decline in net profit at ₹353.56 crore for Q1FY25, down 0.22% Y-o-Y. Net profit stood at ₹222.1 crore in the March quarter. The company cited recent Lok Sabha elections, weather, and market slowdown for the tepid performance. Revenue from operations rose 2% to ₹3,091.01 crore. The company announced the appointment of Rishma Kaur as chairperson starting August 13, with Kanwardip Singh Dhingra as vice chairman and Kuldip Singh Dhingra and Gurbachan Singh Dhingra continuing as non-executive directors.

Greaves Cotton: The company declared its Q1 results on August 8, 2024, with a 12.51% increase in topline and a profit of ₹10.32 crore, marking a significant turnaround from a loss of ₹5.98 crore in the same period last year. However, revenue declined by 4.88% compared to the previous quarter. Operating income significantly boosted, up by 121.95% quarter-on-quarter and 104.23% year-on-year.

Oil India: State-run Oil India’s crude oil production for Q1FY25 stood at 871,000 tonnes, 6.2% higher year-on-year. Natural gas production rose nearly 10% to 818 million cubic meters. The company reported a consolidated turnover of ₹9,350.89 crore, 45.9% higher than ₹6,408.76 crore in the same quarter last fiscal. Consolidated net profit rose 44% to ₹2,016.30 crore from ₹1,399.49 crore.

Religare Enterprises: The Securities Appellate Tribunal (SAT) stayed the Insurance Regulatory and Development Authority of India’s (Irdai) order on the cancellation of Rashmi Saluja’s Esops from Care Health Insurance, directing the insurer not to allow exercise of the stock options till the tribunal’s final order. SAT asked Care Health to deposit 50% of the ₹1 crore penalty amount in an interest-bearing account. The tribunal restrained Saluja from dealing with 75,69,685 shares of Care Health and from exercising unexercised or unvested stock options. The case involves a penalty imposed by Irdai on Care Health for violations of norms, with Saluja claiming she was not given notice or a hearing by the regulator. The bench admitted Care Health and Saluja’s plea and asked Irdai to file its reply within four weeks. The Burmans, holding 21.54% shares of Religare Enterprises, announced an open offer to increase their stake by 5.27%, triggering an open offer for 26% stake at ₹235 per share for a total consideration of ₹2,115 crore.

India Cements: The company reported a consolidated net profit of ₹58.47 crore for the June 2024 quarter despite a 26% decline in sales volume due to a liquidity crunch. The company included a gain of ₹240.68 crore from the sale of its Parli grinding unit as an exceptional item. Before exceptional items and tax, ICL had a loss of ₹147.97 crore. Revenue from operations fell 28.53% to ₹1,026.76 crore. EBITDA was negative at ₹22 crore, with higher interest and depreciation charges. Total expenses decreased by 22.76% to ₹1,190.24 crore.

UltraTech Cement: The company’s ₹3,142 crore open offer for acquiring a 26% stake in India Cements Ltd (ICL) will tentatively open on September 19 and close on October 3. The offer price is ₹390 per share, 6.3% higher than ICL’s closing price of ₹366.90. The mandatory open offer was triggered after UltraTech announced acquiring a 32.72% stake in ICL from promoters and their associates for ₹3,954 crore. UltraTech’s shareholding in ICL will be 55.49% after the acquisition. The transaction aims to extend UltraTech’s footprint in the southern market, particularly Tamil Nadu.

Siemens: The Indian arm of Siemens AG posted a 27% year-on-year rise in consolidated net profit at ₹578 crore in the June quarter. Consolidated revenues rose 6.8% to ₹5,203.5 crore. EBITDA margin rose nearly 160 basis points to 11.6%. Depreciation and amortisation expenses fell 13% to ₹458 crore. Siemens continues to see strong order inflows in smart infrastructure, mobility, and energy segments, while digital industries segment remains weak. New orders stood at ₹6,245 crore, an 18% rise from the previous year.

Alkem Laboratories: The company reported a 91% increase in consolidated net profit to ₹550 crore for Q1FY25, aided by robust sales. Total income increased to ₹3,152 crore from ₹3,033 crore in the year-ago period. CEO Vikas Gupta highlighted efforts to improve profitability and increase margins.

Sun TV Networks: The company reported a 5.48% decline in consolidated profit after tax at ₹559.58 crore for Q1FY25. Revenue from operations was down 2.72% to ₹1,312.40 crore. Total expenses increased by 10% to ₹709.12 crore. The board declared an interim dividend of ₹5 per share. The results included income from cricket franchises of ₹497.05 crore and corresponding costs of ₹236.42 crore.

ONGC: The company received approval for an additional ₹18,365 crore investment in ONGC Petro additions Limited (OPaL), increasing its stake from 49.36% to 95.69%, making OPaL a subsidiary. The investment includes ₹10,501 crore in equity, ₹7,778 crore in CCDs, and ₹86 crore for share warrants. This move aims to restructure OPaL’s capital and ensure its sustainability. OPaL, located in Dahej, Gujarat, is a major petrochemical complex with a significant market presence in India’s polymer segment.

Shipping Corporation of India: SCI reported a 70% jump in net profit to ₹291.5 crore for Q1FY25, compared to ₹171.6 crore in the year-ago period. Revenue from operations rose 26.2% to ₹1,514.3 crore. EBITDA increased 40.4% to ₹509.7 crore, with a margin of 33.7%. The strategic sale of SCI is expected to proceed following approvals on stamp duty waiver and the conclusion of general elections.

Suven Pharmaceuticals: The company reported a 49.6% YoY decline in net profit to ₹60.8 crore for Q1FY25. Revenue from operations fell 33.6% to ₹230.7 crore. EBITDA dropped 52.4% to ₹79.9 crore, with a margin of 34.6%. The company generated a free cash flow of ₹33.1 crore. Executive chairman Annaswamy Vaidheesh highlighted strong customer sentiment and ongoing business development efforts.

Inox India: The company posted an 8% dip in consolidated profit after tax at ₹52.63 crore for the June 2024 quarter. Total income fell to ₹301.77 crore from ₹316.96 crore. On a standalone basis, profit fell 2.38% to ₹53.21 crore, with income down to ₹297.40 crore. The company manufactures standard and customized cryogenic equipment.

Honasa Consumer: The parent company of Mamaearth, Aqualogica, and The Derma Co., reported a net profit of ₹40.2 crore for Q1FY25, driven by an aggressive expansion of its retail distribution network and gains in the face wash category. Profit surged nearly 63% year-on-year, while revenue from operations climbed 19% to ₹554 crore. Honasa retired its Ayurveda-focused skincare brand, Ayuga, due to lack of traction. The company signaled a significant shift in its distribution strategy, impacting business performance over the next three quarters.

Zydus Lifesciences: The company received final approval from the US FDA to market Valbenazine Capsules, used to treat tardive dyskinesia and chorea caused by Huntington’s disease. The drug will be manufactured at the group’s facility in Ahmedabad SEZ - II, India. Zydus is eligible for 180 days of shared generic drug exclusivity for Valbenazine Capsules, 40 mg, and 80 mg, and sole generic drug exclusivity for Valbenazine Capsules, 60 mg. Valbenazine Capsules had annual sales of USD 1993.6 million in the US.

Godrej Properties: The company aims to launch ₹21,000 crore worth of residential projects by March to achieve 20% growth in sales bookings this fiscal. Executive chairperson Pirojsha Godrej expressed confidence in achieving targeted sales bookings of ₹27,000 crore. Sales bookings jumped 84% to ₹22,527 crore last fiscal. The company targets launching projects worth ₹30,000 crore this fiscal, with ₹9,000 crore already launched in Q1. Sales bookings for Q1FY25 were ₹8,637 crore, nearly four times the year-ago period. Godrej Properties reported a four-fold jump in consolidated net profit to ₹520.05 crore for Q1FY25, with total income at ₹1,699.48 crore.

Mahindra and Mahindra: The company is in discussions with the Kerala government to establish an EV manufacturing unit in the state. Kerala, known for its high EV penetration, could see a significant boost to its industrial sector if the talks succeed. Kerala leads in passenger vehicle EV penetration at 5.2%, surpassing Delhi and Karnataka. The state also has the highest penetration of electric two-wheelers at 13.5%.

GE Power India: The company reported a narrowing of its consolidated loss to ₹9.53 crore for Q1FY25, compared to a net loss of ₹135.79 crore in the year-ago period. Total income rose to ₹465.80 crore from ₹440.28 crore. The order backlog increased by 15.8% to ₹3,917 crore. Managing director Prashant Jain noted a positive start to the financial year with orders and favourable sales mix.

Jubilant Foodworks: The company reported a 31.4% YoY decline in net profit to ₹51.5 crore for Q1FY25. Revenue from operations rose 9.9% to ₹1,439.6 crore. EBITDA increased 0.7% to ₹278.2 crore, with a margin of 19.3%. The company achieved significant milestones, including Domino’s India crossing 2,000 stores.

Bajaj Consumer Care: The company reported a 19.7% YoY decline in net profit to ₹37.1 crore for Q1FY25. Revenue from operations fell 9% to ₹245.9 crore. EBITDA dropped 23.6% to ₹36.6 crore, with a margin of 14.9%.

Wockhardt: The company reported a net loss of ₹14 crore for Q1FY25, compared to a net loss of ₹134 crore in the same period last year. Revenue from operations increased 14.8% to ₹739 crore from ₹644 crore in the corresponding period of the previous fiscal. EBITDA stood at ₹91 crore, up from ₹16 crore in the year-ago period, with an EBITDA margin of 12.3% compared to 2.5% in Q1FY24.

Metropolis Healthcare: The company reported a 31.8% YoY increase in consolidated net profit to ₹37.9 crore for Q1, up from ₹28.8 crore in the same period last year. Revenue grew by 13% to ₹313.4 crore from ₹277.1 crore.

General Insurance Corporation of India: The company reported a 41.6% YoY increase in net profit to ₹1,036.4 crore for Q1, up from ₹731.8 crore in the same period last year. Gross premium written increased by 39.1% to ₹12,405.7 crore from ₹8,917.7 crore. Net premium written jumped by 40.2% to ₹11,538.5 crore from ₹8,231.2 crore. Net premium earned grew by 16.6% to ₹10,063.6 crore from ₹8,632.6 crore. Net commission rose by 19.3% to ₹2,196.8 crore from ₹1,840.9 crore.

Amara Raja Energy and Mobility: The company's subsidiary Amara Raja Advanced Cell Technologies has signed a Memorandum of Understanding (MoU) with Piaggio Vehicles, a 100% Indian subsidiary of the Italian auto giant Piaggio Group, to collaborate with Piaggio India to develop and supply LFP (lithium iron phosphate) Lithium-Ion (Li-ion) cells and chargers for its electric vehicles, along with developing cells and battery packs for their upcoming offerings.

Cello World: The company’s Q1 consolidated net profit increased by 7.6% YoY to ₹89.1 crore compared to ₹82.8 crore in the same quarter last year. Revenue rose by 6.1% to ₹500.7 crore from ₹471.8 crore.

Balkrishna Industries: The company reported a 47.6% YoY increase in net profit to ₹490 crore for Q1FY25. Revenue from operations rose 25.7% to ₹2,714.5 crore. EBITDA increased 32.5% to ₹663.6 crore, with a margin of 24.5%. The company plans a new capex of up to ₹1,300 crore to expand production capacity. The board declared a first interim dividend of ₹4 per share.

CESC: The company reported a 5.4% YoY increase in net profit to ₹388 crore for Q1FY25. Revenue from operations rose 12.8% to ₹4,863 crore. EBITDA dropped 48.8% to ₹371 crore, with a margin of 7.6%. The board approved the appointment of Paras Kumar Chowdhary and the re-appointment of Sunil Mitra as non-executive independent directors.

Bharat Dynamics: The company reported an 82.8% YoY decline in net profit to ₹7.2 crore for Q1FY25. Revenue from operations fell 35.8% to ₹191.2 crore. The EBITDA loss stood at ₹52 crore.

PNC Infratech: The company’s consolidated Q1 net profit surged by 218.4% YoY to ₹575.2 crore compared to ₹180.6 crore in the same period last year. Revenue grew by 3.6% to ₹2,167.5 crore from ₹2,091.7 crore.

Advanced Enzyme Technologies: The company reported a 19% YoY increase in consolidated net profit to ₹35 crore for Q1, up from ₹29.4 crore in the same quarter last year. Revenue increased by 4.9% to ₹154.5 crore from ₹147.3 crore.

BGR Energy Systems: The company reported a widening of its consolidated net loss to ₹111.7 crore for Q1, compared to a loss of ₹91.7 crore in the same quarter last year. Revenue grew by 20% to ₹173.8 crore from ₹145 crore.

Shipping Corporation of India: The company reported a 70% YoY increase in consolidated net profit to ₹291.5 crore for Q1, up from ₹171.6 crore in the same period last year. Revenue jumped by 26.2% to ₹1,514.3 crore from ₹1,200.1 crore.

Balkrishna Industries: The company reported a 47.3% YoY increase in consolidated net profit to ₹489 crore for Q1, up from ₹331.9 crore in the same quarter last year. Revenue grew by 25.7% to ₹2,714.5 crore from ₹2,159.4 crore. The board announced an interim dividend of ₹4 per share.

Aarti Industries: The company reported a 95.7% YoY increase in consolidated net profit to ₹137 crore for Q1, up from ₹70 crore in the same period last year. Revenue grew by 31.2% to ₹1,855 crore from ₹1,414 crore.

Star Cement: The company reported a 66.8% YoY decline in consolidated net profit to ₹30.99 crore for Q1, down from ₹93.3 crore in the same quarter last year. Revenue declined by 1.2% to ₹751 crore from ₹760.5 crore.

Bharat Dynamics: The company reported an 82.7% YoY decline in standalone profit to ₹7.2 crore for Q1, down from ₹41.8 crore in the same period last year. Revenue fell by 35.8% to ₹191.2 crore from ₹297.7 crore.

Sun TV Network: The company reported a 5.5% YoY decline in consolidated net profit to ₹559.8 crore for Q1, down from ₹592.1 crore in the same period last year. Revenue fell by 2.7% to ₹1,312.4 crore from ₹1,349.2 crore. The board declared an interim dividend of ₹5 per share.

Inox Wind: The company reported a consolidated profit of ₹47.2 crore for Q1, compared to a loss of ₹64.88 crore in the same quarter last year. Revenue surged by 83.2% to ₹638.8 crore from ₹348.7 crore.

Jubilant Foodworks: The company reported a 100.7% YoY increase in consolidated net profit to ₹58.02 crore for Q1, up from ₹28.92 crore in the same period last year. Revenue jumped by 44.8% to ₹1,933.1 crore from ₹1,334.5 crore.

Honasa Consumer: The company reported a 62.9% YoY increase in consolidated net profit to ₹40.3 crore for Q1, up from ₹24.7 crore in the same quarter last year. Revenue increased by 19.3% to ₹554 crore from ₹464.5 crore.

Bajaj Consumer Care: The company reported a 19.7% YoY decline in consolidated net profit to ₹37.1 crore for Q1, down from ₹46.2 crore in the same period last year. Revenue declined by 9% to ₹245.9 crore from ₹270.2 crore.

Larsen & Toubro: The company's subsidiary L&T Semiconductor Technologies has completed the acquisition of a 100% stake in SiliConch Systems.

Kotak Mahindra Bank: The bank has acquired 30 lakh equity shares of Open Network for Digital Commerce (ONDC) for ₹30 crore, increasing its current shareholding in ONDC to 5.10%.

Oil and Natural Gas Corporation: The company has received approval from the government for the infusion of additional equity capital of up to ₹10,501 crore in ONGC Petro Additions (OPaL), conversion of backstopped Compulsorily Convertible Debentures (CCDs) amounting to ₹7,778 crore, and balance payment of ₹86 crore with respect to share warrants, totaling ₹18,365 crore, changing the status of OPaL into a subsidiary of ONGC with a 95.69% equity stake.

Bank of Baroda: The public sector lender has raised lending rates by 5 basis points (bps) on its three-month, six-month, and one-year tenures, effective August 12.

Canara Bank: The bank has raised its lending rate by 5 bps across tenures, effective August 12.

Atul: The company's subsidiary Atul Bioscience has received an Establishment Inspection Report (EIR) from the US FDA for its manufacturing facility at Ambernath, Maharashtra, issued post the last inspection of the facility conducted from May 6 to May 10, which concluded with zero FDA 483 observations.

Mastek: Hiral Chandrana has resigned as Group CEO of Mastek, and the board has recommended Umang Nahata as the Interim Group CEO of Mastek Group, effective August 10. Umang Nahata is currently one of the non-Executive Directors of the company.

Coffee Day Enterprises: The IDBI Trusteeship Services has admitted Coffee Day Enterprises into the National Company Law Tribunal (NCLT) for the initiation of Corporate Insolvency Resolution Process (CIRP) for ₹228.45 crore, and the company is planning to take the required legal action in this regard.

Caplin Point Laboratories: The US FDA conducted an unannounced inspection of Caplin Steriles’ injectable and ophthalmic manufacturing facility at Gummidipoondi between August 5 and August 9, which concluded with zero observations.

Paramount Communications: Foreign investor Nexpact sold a 0.76% stake in the company at an average price of ₹80.5 per share.

Hatsun Agro Product: VVV and Sons Edible Oils sold a 0.6% stake in the company at an average price of ₹1,227.27 per share.

ACE Software Exports: Ace investor Shankar Sharma has bought a 1.25% equity stake in the company at an average price of ₹359.5 per share, while Jamkuben Harilal Dhamsaniya sold a 2.03% stake in the company at the same price.