Stocks to Watch: Britannia, ONGC, Hindalco, BEML, Shree Cement, and more

Here’s a quick look at stocks likely to be in focus in today's trade.

Britannia Industries: FMCG major Britannia Industries Ltd reported a 10% decline in consolidated net profit for the quarter ended September 2024, amounting to ₹531 crore. This marked a decrease from ₹588 crore in the same quarter of the previous year. Revenue from operations showed a 5% year-on-year (YoY) increase, reaching ₹4,668 crore compared to ₹4,433 crore in the year-ago period. However, both profit and revenue figures were below market expectations. Sequentially, consolidated sales rose by 11% and profit after tax increased by 5%.

Hindalco: Hindalco Industries reported a significant 123% growth in standalone net profit for the quarter ended September 2024, reaching ₹1,891 crore, up from ₹847 crore in the corresponding quarter of the previous year. This profit exceeded market estimates, which stood at ₹1,294 crore. Revenue from operations saw an 8% YoY increase to ₹22,262 crore. The impressive profit growth was attributed to strong operational performance in the India business, favorable macroeconomic conditions, and strategic cost management.

ONGC: State-owned ONGC posted a 17% increase in standalone net profit for the quarter ended September 2024, totaling ₹11,984 crore, compared to ₹10,238 crore in the same quarter last year. Revenue from operations, however, declined by 4% YoY, amounting to ₹33,881 crore as opposed to ₹35,163 crore in the year-ago period. The company’s board declared a first interim dividend of ₹6 per equity share (face value ₹5) for FY25, with November 20 set as the record date for shareholder eligibility.

Shree Cement: Shree Cement Ltd reported a substantial 83% decline in consolidated net profit for the quarter ended September 2024, which stood at ₹76 crore, down from ₹447 crore in the corresponding quarter of the prior year. Revenue from operations also saw a decline of 15% YoY, amounting to ₹4,054 crore. Operating EBITDA for the quarter fell 32% YoY to ₹593 crore compared to ₹870 crore in the same quarter last year.

BEML: Miniratna company BEML reported a slight 0.75% decrease in profit after tax (PAT) on a YoY basis for the quarter ended September 30, 2024, with PAT at ₹51.03 crore, compared to ₹51.78 crore in the same quarter of the previous year. Revenue from operations declined by 6.2% YoY, totaling ₹859.84 crore for the reporting period, down from ₹916.79 crore in the year-ago quarter.

Jubilant FoodWorks: Jubilant FoodWorks announced its financial results for the second quarter ending September 2024 on Monday, reporting a profit after tax (PAT) of ₹66.53 crore. This represented a 31.5% year-on-year (YoY) decline. Despite the decrease in profit, the company experienced significant revenue growth. Revenue from operations for the quarter reached ₹1,954.70 crore, up from ₹1,368.63 crore in the corresponding quarter of the previous year. Total income also rose, amounting to ₹1,984.93 crore, an increase from ₹1,375.69 crore reported during the same period in the prior year.

Akums Drugs: Akums Drugs and Pharmaceuticals, a Delhi-based contract development and manufacturing organization (CDMO), reported an adjusted net profit of ₹66.7 crore, reflecting a 16% YoY increase, driven by enhanced operational efficiency. However, revenue for the quarter declined by 11.9% YoY to ₹1,046.6 crore due to a decrease in active pharmaceutical ingredient (API) prices and variable demand. The adjusted EBITDA stood at ₹1,347 million, showing a 28% drop compared to the previous quarter, while the adjusted EBITDA margin was 12.9%.

Videocon: SEBI has ordered the attachment of bank accounts, shares, and mutual fund holdings of Venugopal Dhoot and Videocon Industries' promoter entity, Electroparts (India), to recover dues of ₹68.5 lakh. This follows a September 30 notice directing them to pay dues related to an insider trading case within 15 days. The action was taken after non-compliance, freezing Dhoot and Electroparts (India)'s bank, demat, and mutual fund accounts. The pending dues include interest and recovery costs.

Welspun Corp: Welspun Mauritius Holdings Limited (WMHL) announced the sale of a 5% equity stake in East Pipes Integrated Company for Industry (EPIC), a listed associate of Welspun Corp in the Kingdom of Saudi Arabia (KSA), for a total consideration of 218.9 million Saudi Riyal (approximately ₹480 crore). As a result of this transaction, WMHL’s stake in EPIC has reduced from 31.5% to 26.5%. Despite the divestment, WMHL remains the largest shareholder in EPIC.