Stocks to watch: Eicher Motors, ABFRL, Protean eGov, Apollo Tyres, BSE, TVS Supply Chain

Eicher Motors: The company is set to release its earnings report for the first fiscal quarter of FY25 on 8 August. Flat volume growth and slow sales of its popular Hunter Enfield bikes are likely to limit the company’s revenue and profit growth to single digits. According to analyst estimates, the company is anticipated to record an 8% YoY increase in revenue, reaching ₹4,263 crore. Net profit is projected to rise 8.4% to ₹991 crore from ₹914 crore in the same quarter of the previous fiscal year.

Reliance Industries: The Mukesh Ambani-led diversified conglomerate said it has strengthened its balance sheet by securing funds at competitive rates to finance capital expenditures, facilitate business expansion, and refinance existing debts despite challenging market conditions.

Aditya Birla Fashion and Retail Limited: ABFRL on 7 August reported its consolidated net loss widened to ₹161 crore for the quarter ended June 30, 2024. Its net loss was ₹141 crore in the year-ago period. However, on a sequential basis, the company’s net loss narrowed when compared to ₹229-crore loss reported in March quarter. The company’s revenue rose 7% to ₹3,428 crore in Q1FY25 as against ₹3,196 crore in Q1FY24.

Protean eGov Technologies: Standard Chartered Bank is likely to sell its 3.09% equity in IT-enabled solutions company Protean through block deals, according to reports. The sale is expected to take place on 8 August with the share price expected to range between ₹1,750 and ₹1,775 according to reports. The total offer size is expected to reach ₹221.9 crore at the upper end of the price range.

Hindalco Industries: Subsidiary of Hindalco Industries, aluminium producer Novelis reported a 3% YoY drop in net income attributable to common shareholders at $151 million, with net sales rising by 2% to $4.2 billion. The growth in topline was backed by higher average aluminium prices and a higher total shipment. Novelis saw a double-digit growth in beverage packaging shipments, riding on ‘normalized demand’. The bottomline saw de-growth due to flooding at its Switzerland plant in the June quarter, restructuring activity, and unfavourable metal prices, which offset higher Adjusted EBITDA. Adjusted EBITDA rose by 19% YoY to $500 million in the June quarter. Adjusted EBITDA per tonne increased by 10% YoY to $525.

Apollo Tyres: The company reported a 24% drop in net profit at ₹302 crore for Q1FY25, compared to ₹397 crore in the same period last year. Revenue from operations rose 1.4% to ₹6,335 crore compared to ₹6,244 crore in the year-ago period. The decline in net profit was due to lower sales and increased raw material costs. EBITDA came in at ₹909.4 crore, registering a drop of 13.5% compared to ₹1,051.4 crore in the year-ago period, with margins falling to 14.4% from 16.8%.

Adani Enterprises: Billionaire Gautam Adani’s flagship firm, Adani Enterprises is considering raising around ₹100 billion ($1.2 billion) to ₹120 billion through a share sale, according to sources. Adani Enterprises may seek to raise funds through a qualified institutional placement (QIP), with the share sale potentially taking place as early as September. The Adani Group is seeking institutional investors, including from the US, to expand its shareholder base and draw more research analysts to cover the firm.

BSE: The stock exchange reported a 40% decline in net profit at ₹265.05 crore in the first quarter of FY25, compared to ₹442.66 crore in the corresponding period of the previous financial year. The exchange had posted a net profit of ₹107.04 crore in the March quarter. The firm’s revenue from operations rose over 180% to ₹607.7 crore in the quarter under review from ₹215.62 crore in the year-ago period. In the March quarter, the company’s revenue stood at ₹488.37 crore. The income from investments jumped 43% to ₹62.9 crore from ₹43.99 crore in the same period of the previous financial year. Its EBITDA stood at ₹284 crore, jumping significantly from ₹70 crore in the year-ago period. Meanwhile, the EBITDA margins came in at 47% in Q1FY25 over 33% in the corresponding period of FY24.

Godrej Consumer Products: GCPL reported a 41.36% jump in consolidated profit after tax at ₹450.69 crore for the June quarter FY25, benefiting from lower raw material costs. The company, which had posted a PAT of ₹318.82 crore in the same quarter last fiscal, said its board has approved entry into a pet care business through one of its subsidiaries and will invest ₹500 crore over a period of five years. Total revenue from operations in the quarter stood at ₹3,331.58 crore as against ₹3,448.91 crore in the same period last fiscal. The company said its board has declared an interim dividend of ₹5 per share of face value of Re 1 each for financial year 2024-25.

Welspun Corp: The company posted a 47% increase in net profit to ₹247.94 crore during the June quarter, mainly due to reduced expenses. It had reported a net profit of ₹168.45 crore during the April-June period of the preceding fiscal. However, the company witnessed a fall in its total income to ₹3,179.67 crore from ₹4,118.78 crore recorded in the year-ago quarter. Welspun Corp managed to reduce its expenses to ₹2,914.50 crore from ₹3,878.67 crore year on year.

TVS Supply Chain Solutions: The company secured a multi-year contract with JCB India to manage its in-plant warehousing and logistics operations at the JCB facility in Vadodara, Gujarat, for three years. The facility produces fabrications and components for JCB plants globally. TVS SCS will provide end-to-end warehouse management services, deploying material handling equipment and employing close to 110 personnel.

Abbott India: Drugmaker Abbott India reported a 13% YoY increase in net profit to ₹328 crore for the first quarter ended June 30, 2024, compared to ₹290 crore in the same quarter last fiscal. Revenue from operations grew 5.3% to ₹1,557.6 crore from ₹1,479 crore. EBITDA rose 10.2% to ₹391.1 crore from ₹355 crore, with an EBITDA margin of 25.1%.

Dr Lal PathLabs: The company reported a 29% YoY increase in consolidated profit after tax to ₹108 crore for the first quarter ending June 30, 2024, compared to ₹84 crore in the same quarter last fiscal. Revenue rose to ₹602 crore from ₹541 crore in the June quarter of last fiscal. The board approved an interim dividend of ₹6 per share for 2024-25.

NHPC: State-owned hydropower giant NHPC reported a 1.2% YoY increase in net profit to ₹1,108.5 crore for the first quarter ended June 30, 2024, compared to ₹1,095 crore in the same quarter last fiscal. Revenue from operations dipped 2.3% to ₹2,694.2 crore from ₹2,757.3 crore in the corresponding period of the preceding fiscal. EBITDA fell 2.8% to ₹1,462.6 crore from ₹1,504.6 crore, with an EBITDA margin of 54.3%.

Radico Khaitan: Liquor maker Radico Khaitan reported a 13.3% YoY increase in net profit to ₹77.4 crore for the first quarter ended June 30, 2024, compared to ₹68.3 crore in the same quarter last fiscal. Revenue from operations increased 19.1% to ₹1,136.5 crore from ₹953.9 crore. EBITDA surged 24.8% to ₹149.1 crore from ₹119.5 crore, with an EBITDA margin of 13.1%. The Prestige & Above category saw notable volume growth of 14.3%.

Brookfield India REIT: Office space operator Brookfield India Real Estate Investment Trust reported a consolidated net profit of ₹37.40 crore for the quarter ending June 30, against a loss of ₹27.10 crore in the same quarter last year. It declared a net distributable cash flow of around ₹216.80 crore for the quarter, amounting to ₹4.50 per unit. For Q4FY24, Brookfield India REIT reported a marginal profit of around ₹4.60 crore. The REIT, backed by Brookfield Asset Management, reported a consolidated income of ₹573.8 crore for the quarter, higher than ₹314.10 crore for the same quarter last year, and ₹535.90 crore reported in the quarter ending March 31.

Lemon Tree Hotels: The company's consolidated Q1 net profit declined 26.9% YoY to ₹20.1 crore, compared to ₹27.5 crore in the year ago period. Revenue grew 19.5% to ₹268 crore in the quarter, compared to ₹224.2 crore.

Balaji Amines: The company's consolidated Q1 net profit plunged 32.7% YoY to ₹45.6 crore, compared to ₹67.7 crore in the year ago period. Revenue declined 17% YoY to ₹384.7 crore, compared to ₹463.7 crore in the year ago period.

R Systems International: The company's consolidated Q1 net profit jumped 72.5% YoY to ₹24.9 crore, compared to ₹14.4 crore in the year ago period. Revenue increased 6.2% to ₹432 crore, compared to ₹406.8 crore in the year ago period. Tax cost fell to ₹21.9 crore, compared to ₹31.09 crore in the year ago period.

Gujarat Pipavav Port: The company's consolidated Q1 profit zoomed 61.7% YoY to ₹109.7 crore, compared to ₹67.8 crore in the year ago period. Revenue rose 14.5% to ₹246 crore, compared to ₹214.9 crore.

ITD Cementation India: The company's consolidated Q1 net profit surged 91.4% YoY to ₹100.2 crore, compared to ₹52.3 crore in the year ago period. Revenue rose 30% YoY to ₹2,381.5 crore, compared to ₹1,832.6 crore earlier.

Godfrey Phillips India: Cigarette maker Godfrey Phillips India reported a 23.9% YoY decline in net profit to ₹223.4 crore for the first quarter ended June 30, 2024, compared to ₹293.5 crore in the same quarter last fiscal. Revenue from operations increased 12% to ₹1,158.2 crore from ₹1,034.1 crore. EBITDA rose 3.5% to ₹248.3 crore from ₹239.8 crore, with an EBITDA margin of 21.4%. The board approved the appointment of Charu Modi as an executive director for five years starting September 7, 2024.

Sula Vineyards: The winemaker reported a rise in quarterly profit as consumers snapped up more of its cheaper wine, outpacing feeble demand for its premium offerings due to national elections and heatwaves. The company’s consolidated net profit rose 7% YoY to ₹146.3 million ($1.7 million) for the quarter ended June 30. Its profit had fallen in the previous quarter. Sula’s revenue grew more than 10% during the quarter to ₹1.28 billion, its second straight quarter of growth, aided by a 24.4% jump in its cheaper wine segment. Its elite and premium segment, however, logged a 7.4% decline in sales volume.

PB Fintech: The company, which operates Policybazaar and Paisabazaar, plans to move away from taking a majority stake when acquiring companies following the exit of the founder of MyLoanCare, which it bought in 2021. PB Fintech will now focus on minority investments, with exceptions for strategically crucial deals, co-founder Yashish Dahiya said.

Maruti Suzuki India: The country’s largest carmaker said on 7 August that it will recall 2,555 Alto K10 vehicles for a suspected defect in the steering gear box assembly. “The said defect, in a rare case, may affect the vehicle steerability,” Maruti said in an exchange filing. Affected vehicle owners will be contacted by Maruti Suzuki authorized dealer workshops for inspection and replacement of the Part, free of cost.

NTPC: The company's subsidiary NTPC Renewable Energy has commenced operations of the first part capacity of 60 MW out of the 150 MW Gujarat Solar PV project in Radhanpur, Gujarat, through its wholly owned subsidiary NTPC Green Energy. With this, the total installed and commercial capacity of the NTPC group has now reached 76,134 MW.

Coromandel International: The board of directors has appointed S Sankarasubramanian as managing director and chief executive officer of Coromandel International, effective 7 August. S Sankarasubramanian was previously the executive director – Nutrient Business.

Marico: Operating conditions in the Bangladesh market are gradually improving, though the company remains watchful of the evolving situation, it said. After a brief interruption, a large majority of its retail sales force and distributors have now resumed operations. The company expects manufacturing operations to resume soon.

Tamilnadu Petroproducts: V Arun Roy has resigned as chairman and non-executive non-independent director on the board of the company following the withdrawal of nomination by Tamilnadu Industrial Development Corporation (TIDCO).

Allcargo Gati: Anish T Mathew has resigned as chief financial officer effective October 31, 2024, due to personal reasons. The board has approved the appointment of Deepak Jagdish Pareek as deputy chief financial officer of the company with immediate effect.

TCNS Clothing Company: TA FDI Investors sold a 4.3% stake in the company. Of this, 11.8 lakh shares were offloaded at an average price of ₹580.08 per share, and 15.7 lakh shares were sold at an average price of ₹580.14 per share.

Sapphire Foods India: Kotak Mahindra Mutual Fund has bought a 0.94% stake in the company at an average price of ₹1,650 per share. Arinjaya (Mauritius), part of the promoter group, sold a 3.7% stake in the company at an average price of ₹1,649.94 per share.

UPL: The High Court of Australia has dismissed the appeal and decided the matter in favor of Advanta, a subsidiary of UPL in Australia. The High Court has upheld the judgment of the Court of Appeal, stating that Advanta was not liable for the economic loss to the growers. This marks the end of the Class Action as there are no further avenues of appeal available.

ADF Foods: Dovetail Global Fund PCC - Marcellus India Fund bought a 3.5% stake in the company at an average price of ₹220 per share. Foreign portfolio investor Infinity Holdings was the seller in this deal.

JHS Svendgaard Laboratories: Venture capital fund Sixth Sense India Opportunities II sold a 1.45% stake in the company at an average price of ₹22.22 per share.