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Business News/ Markets / Stock Markets/  Stocks to watch: Grasim, Sun Pharma, Power Grid Corp., Nykaa, Garden Reach Shipbuilders
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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:

Companies reporting results today include ITC, InterGlobe Aviation, Honasa Consumer, Bayer Cropscience, Cello World, CESC, Concord Biotech, Finolex Cables, Page Industries, Tata Investment Corporation, and Zaggle Prepaid Ocean Services, among others. (Photo: Mint)Premium
Companies reporting results today include ITC, InterGlobe Aviation, Honasa Consumer, Bayer Cropscience, Cello World, CESC, Concord Biotech, Finolex Cables, Page Industries, Tata Investment Corporation, and Zaggle Prepaid Ocean Services, among others. (Photo: Mint)

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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ABOUT THE AUTHOR
Pranay Prakash
My experience as a Finance Journalist has involved working as a Web Producer and Sub Editor at a wire agency and business magazine, respectively, where I have curated various domain specific news pages, and later edited long-form, in-depth pieces on everything from India's corporates to the state of the economy, and various sectors. At Mint, I am involved in the editing of market copies and the curation of the live markets blog. Apart from the financial markets, my interest encompass topics related to the economy, the political economy of a growing economy, the space of policy design, and how it affects the wider economy and the decisions of corporates and consumers alike.
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 23 May 2024, 08:26 AM IST
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