Stocks to watch: Grasim, Sun Pharma, Power Grid Corp., Nykaa, Garden Reach Shipbuilders
- Here are a few stocks likely to be in focus on Thursday, May 23:
Grasim Industries: The company reported a 15.5% YoY rise in its Q4FY24 consolidated net profit at ₹2,721.81 crore, up from ₹2,355.67 crore in Q4FY23. The company’s revenue from operations also saw a 13% increase to ₹37,727.1 crore. The company’s EBITDA for Q4FY24 stood at ₹6,196 crore, marking a 27% growth YoY. For the full FY24, the consolidated net profit was ₹9,925.65 crore. The company achieved an all-time high consolidated revenue of ₹1,30,978 crore for FY24, up by 11% year-on-year, driven by strong performance from its diversified businesses portfolio, particularly the building materials and financial services businesses. The EBITDA for the year reached a record level of ₹20,837 crore.
Sun Pharmaceutical Industries: The company reported a Q4 consolidated net profit of ₹2,655 crore ($318.9 million), surpassing estimates, driven by strong performance in the U.S. and domestic markets. This represents a significant increase from the previous year’s profit of ₹1,984 crore. Total revenue rose 9.6% to ₹11,983 crore. The company’s U.S. sales rose nearly 11.9% to ₹3,954 crore, while India sales rose more than 10.2% to ₹3,710 crore. The board proposed a dividend of ₹5 per share for fiscal year 2024.
Power Grid Corporation of India: The company announced a nearly 4% fall in its Q4 consolidated net profit at ₹4,166.33 crore, mainly due to a marginal decline in income. For FY24, PowerGrid’s consolidated net profit rose to ₹15,573.16 crore. The board recommended a final dividend of ₹2.75 per equity share for FY24 and approved fund raising of ₹5,000 crore.
Jubilant FoodWorks: The company reported a Q4 consolidated net profit of ₹208.2 crore, seven times more than ₹28.5 crore in the year-ago period. Revenue rose 23.8% to ₹1,572.7 crore. The Board recommended a dividend of ₹1.2 per equity share for FY24.
FSN E-Commerce Ventures: Nykaa reported a significant surge in Q4 profits, with a net profit of ₹9.07 crore, up around 300% compared to a year ago. Operating revenue rose 28% YoY to ₹1,667.9 crore. The board approved an investment of ₹20 crore in FSN International.
Gland Pharma: The company reported a 145% rise in Q4 consolidated net profit at ₹192.4 crore. Revenue rose 96% to ₹1,537.5 crore. The board recommended a final dividend of ₹20 per equity share for FY24.
Wockhardt: The company is planning another round of funding, with a decision expected at a board meeting on May 28. On March 27, investment funds of top investors Madhusudan Kela and Prashant Jain contributed to a ₹480-crore QIP by the pharmaceutical company.
Larsen & Toubro: L&T has dispatched the world’s heaviest ethylene oxide reactors to China for a project of chemical giant BASF. The reactors were dispatched by the heavy engineering vertical of L&T.
Torrent Power: The company reported a 7.6% YoY decrease in profit for Q4, down to ₹447 crore from ₹484 crore. However, revenue rose by 8.1% to ₹6,529 crore. The board approved the issuance of non-convertible debentures of up to ₹3,000 crore and fund raising via QIP of up to ₹5,000 crore.
Dhanlaxmi Bank: The bank saw a significant 91.3% YoY drop in profit for Q4, down to ₹3.3 crore from ₹38.2 crore. Net interest income fell by 8.9% to ₹104.86 crore. The bank reported an operating loss of ₹17.44 crore and a provisions write-back of ₹28.15 crore. Tax expenses were ₹7.4 crore. Gross NPA dropped to 4.05% and Net NPA declined to 1.25%.
Metro Brands: The company reported a 126.3% YoY surge in profit for Q4, up to ₹155.6 crore from ₹68.7 crore. Revenue increased by 7.1% to ₹583 crore. The company also reported a tax write-back of ₹50.8 crore.
Garden Reach Shipbuilders & Engineers: The company saw a 102% YoY jump in profit for Q4, up to ₹111.6 crore from ₹55.3 crore in the year ago period. Revenue increased significantly by 69% to ₹1,015.7 crore.
Gujarat Pipavav Port: The company reported a 32.3% YoY drop in profit for Q4, down to ₹65.8 crore from ₹97.3 crore. The company also reported an exceptional loss of ₹51.86 crore. However, revenue grew by 7% to ₹251.3 crore. Tejpreet Singh Chopra resigned as Chairman and Samir Chaturvedi was appointed as the new Chairman.
PG Electroplast: The company saw a 73.1% YoY surge in profit for Q4, up to ₹69.6 crore from ₹40.2 crore. Revenue jumped by 30% to ₹1,076.6 crore. The board approved a stock split in the ratio of 1:10.
Sundram Fasteners: The company reported a 5.7% YoY growth in profit for Q4, up to ₹133.6 crore from ₹126.4 crore in the year ago period. Revenue increased by 1.35% to ₹1,466.5 crore.
Everest Industries: The company saw a 3.18% YoY decrease in net sales for March 2024, down to ₹432.11 crore from Rs. 446.30 crore in March 2023. The quarterly net profit dropped by 58% to Rs. 5.44 crore, and EBITDA decreased by 46.13% to Rs. 16.16 crore.
Cineline India: The company experienced a 20.03% YoY increase in net sales for March 2024, up to ₹53.71 crore from Rs. 44.75 crore in March 2023. The quarterly net loss improved by 6.16% to Rs. 6.50 crore, and EBITDA increased by 70.14% to Rs. 12.59 crore.
RattanIndia Power: The company reported a 1.49% YoY increase in net sales for March 2024, up to ₹913.96 crore from Rs. 900.58 crore in March 2023. The quarterly net profit skyrocketed by 2,307.36% to Rs. 10,665.75 crore, and EBITDA increased by 1.04% to ₹287.80 crore. The EPS also increased to Rs. 19.86 in March 2024 from Rs. 0.90 in March 2023.
Urja Global: The company saw a 22.43% YoY increase in net sales for March 2024, up to ₹13.02 crore from Rs. 10.64 crore in March 2023. The quarterly net profit rose by 400.98% to Rs. 0.46 crore, and EBITDA increased by 14.29% to Rs. 0.64 crore.
Gandhar Oil Refinery: The company saw a 4.81% YoY decrease in net sales for March 2024, down to ₹939.24 crore from Rs. 986.68 crore in March 2023. The quarterly net profit dropped by 58.8% to Rs. 9.14 crore, and EBITDA decreased by 27.36% to Rs. 38.39 crore.
GMM Pfaudler: The company reported a 14.46% YoY decrease in net sales for March 2024, down to ₹740.73 crore from Rs. 865.95 crore in March 2023. The quarterly net profit also dropped by 19.24% to Rs. 31.07 crore, and EBITDA decreased by 8.63% to Rs. 101.28 crore.
Ramco Cements: The company saw a 4.11% YoY increase in net sales for March 2024, up to ₹2,678.24 crore from Rs. 2,572.54 crore in March 2023. However, the quarterly net profit dropped by 14.46% to Rs. 129.04 crore, while EBITDA increased by 2.34% to Rs. 432.61 crore.
Star Cement: The company reported a 10.73% YoY increase in net sales for March 2024, up to ₹913.53 crore from Rs. 825.04 crore in March 2023. The quarterly net profit dropped by 8.79% to Rs. 87.67 crore, but EBITDA increased by 4.82% to Rs. 187.55 crore.
HCL Info: saw an 18.64% YoY decrease in net sales for March 2024, down to ₹6.72 crore from Rs. 8.26 crore in March 2023. The quarterly net loss improved by 2.12% to Rs. 5.53 crore, and EBITDA improved by 62.93% to a negative Rs. 5.32 crore.
Yash Chemex: The company reported a 35.92% year-on-year (YoY) decrease in net sales for March 2024, down to ₹24.97 crore from Rs. 38.96 crore in March 2023. The quarterly net loss decreased by 632.05% to Rs. 3.06 crore, and EBITDA decreased by 392.06% to a negative Rs. 3.68 crore.
Navneet Education: The company saw a 6.42% YoY increase in net sales for March 2024, up to ₹435.28 crore from Rs. 409.02 crore in March 2023. The quarterly net profit also rose by 108.23% to Rs. 47.81 crore, and EBITDA increased by 42.29% to Rs. 91.11 crore.
Petronet LNG: The company reported a slight 0.58% YoY decrease in net sales for March 2024, down to ₹13,793.16 crore from Rs. 13,873.93 crore in March 2023. However, the quarterly net profit rose by 23.53% to Rs. 764.43 crore, and EBITDA increased by 17.07% to Rs. 1,257.20 crore.
TeamLease Services: The company saw a 19.96% YoY increase in net sales for March 2024, up to ₹2,431.97 crore from Rs. 2,027.27 crore in March 2023. The quarterly net profit rose by 14.78% to Rs. 27.48 crore, and EBITDA increased by 4.96% to Rs. 45.74 crore.
Talbros Automotive Components: The company saw a 15.85% YoY increase in net sales for March 2024, up to ₹202.68 crore from Rs. 174.95 crore in March 2023. The quarterly net profit rose by 194.85% to Rs. 49.79 crore, and EBITDA increased by 32.15% to Rs. 35.47 crore.
GE Power India: The company reported a 13.43% YoY increase in net sales for March 2024, up to ₹390.76 crore from Rs. 344.48 crore in March 2023. The quarterly net profit rose by 120% to Rs. 25.94 crore, and EBITDA increased by 141.77% to Rs. 43.54 crore.
Goldiam International: The company saw a 9.57% YoY increase in net sales for March 2024, up to ₹147.86 crore from Rs. 134.95 crore in March 2023. The quarterly net profit rose by 10.25% to Rs. 17.76 crore, and EBITDA increased by 21.55% to Rs. 27.41 crore.
Minda Corporation: The company saw a 13.07% YoY increase in net sales for March 2024, up to ₹1,214.98 crore from Rs. 1,074.55 crore in March 2023. However, the quarterly net profit dropped by 41.98% to Rs. 70.75 crore, while EBITDA increased by 24.34% to Rs. 148.36 crore.
Max Healthcare Institute: The company reported a 17.16% YoY increase in net sales for March 2024, up to ₹1,422.90 crore from Rs. 1,214.51 crore in March 2023. The quarterly net profit rose slightly by 0.25% to Rs. 251.54 crore, and EBITDA increased by 12.15% to Rs. 426.78 crore.
Yuken India: The company saw a 18.01% YoY increase in net sales for March 2024, up to ₹119.23 crore from Rs. 101.03 crore in March 2023. The quarterly net profit skyrocketed by 1047.21% to Rs. 7.95 crore, and EBITDA increased by 103.79% to Rs. 16.69 crore.
Majestic Auto: The company reported a 19.65% YoY increase in net sales for March 2024, up to ₹15.52 crore from Rs. 12.97 crore in March 2023. The quarterly net loss improved by 18.17% to Rs. 0.61 crore, and EBITDA increased by 131.32% to Rs. 25.70 crore.
Ladam Affordable Housing: The company reported a 11.33% YoY decrease in net sales for March 2024, down to ₹0.82 crore from Rs. 0.92 crore in March 2023. The quarterly net loss improved by 66.17% to Rs. 0.06 crore, and EBITDA improved by 100% to Rs. 0.00 crore.
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