Domestic equity markets ended the session with robust gains on Tuesday, February 1, 2022, as investors cheered the Union Budget with its higher capital expenditure on infrastructure.
Domestic equity markets ended the session with robust gains on Tuesday, February 1, 2022, as investors cheered the Union Budget with its higher capital expenditure on infrastructure. The barometer index, S&P BSE Sensex was up 848.40 points or 1.46% to 58,862.57. The Nifty 50 index advanced 237 points or 1.37% to 17,576.85. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Wednesday, February 2, 2022. List of such stocks:
Q3FY22 Earnings
Adani Ports: India’s largest private multi-port operator has reported a 5.7% YoY decline in the consolidated profit at Rs 1,472.26 crore for the quarter ended December 31, 2021. It had posted a profit of Rs 1,561 crore in the corresponding quarter last year. Revenue from operations grew 1.4% YoY to Rs 3,797.1 crore in the reported quarter against Rs 3,746.5 crore posted last year. Adjusted EBITDA stood at Rs 2,430.5 crore against Rs 2,487 crore posted last year. The adjusted margin dropped to 63.5% in Q3FY22 compared to 66.4% posted in Q3FY21.
Tech Mahindra: The Indian multinational information technology services and consulting company has reported a 2.2% QoQ rise in the consolidated profit at Rs 1,369 crore for the quarter ended December 31, 2021. It had posted a profit of Rs 1,339 crore in the previous quarter ended September 30, 2021. Revenue from operations grew 5.2% QoQ to Rs 11,451 crore in the reported quarter against Rs 10,881 crore posted in the previous quarter. In dollar terms, the revenue grew 4.1% to $153.35 crore against $147.3 crore posted in the September 2021 quarter. EBIT stood at Rs 1,698 crore, up 2% QoQ against Rs 1,652 crore posted in the previous quarter. Margin declined to 14.8% in Q3FY22 against 15.2% posted in Q2FY22. The attrition rate was at 24% during the quarter as against 21% in the preceding quarter. Net New Deal wins stands at $70.4 crore.
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Indian Hotels: Tata group hospitality firm Indian Hotels Co Ltd (IHCL) has reported a consolidated net profit of Rs 96 crore for the quarter ended December 31, 2021. It had posted a consolidated net loss of Rs 133.22 crore in the same period last fiscal. Revenues from operations grew 98.5% to Rs 1,111.2 crore against Rs 559.9 crore posted last year. The company has posted an EBITDA profit of Rs 321.8 crore in the reported quarter against an EBITDA loss of Rs 16.7 crore posted last year. The margin stood at 29% in Q3FY22.
Cholamandalam Investment: The financial services company Cholamandalam Investment and Finance Company has reported a 28% YoY rise in the net profit at Rs 524 crore for the quarter ended December 31, 2021. It had posted a profit of Rs 409 crore in the corresponding quarter last year. Net income grew 9% YoY to Rs 1,484 crore against Rs 1,364 crore posted last year. The company’s gross NPA declined to 5.85% in Q3FY22 against 6.16% reported in Q2FY22. The net NPA also declined to 3.58% in the reported quarter against 3.91% posted in the previous quarter. Total Disbursements grew 32% QoQ to Rs 10,430 crore against Rs 7,926 crore posted in September 2021 quarter.
VIP Industries: The luggage manufacturer has reported a consolidated net profit of Rs 33.5 crore for the quarter ended December 31, 2021. It had posted a consolidated net loss of Rs 7 crore in the same period last fiscal. Revenue from operations grew 70.9% YoY to Rs 397.3 crore against Rs 232.5 crore reported last year. EBITDA rose 7x to Rs 57.1 crore in the period under consideration against Rs 8.1 crore posted last year. Margins improved to 14.4% in Q3FY22 against 3.5% posted in Q3FY21.
Sona BLW Precision: The company has reported a 3.5% YoY rise in the consolidated profit at Rs 86.4 crore for the quarter ended December 31, 2021. It had posted a profit of Rs 83.5 crore in the corresponding quarter last year. Revenue from operations grew 1% to Rs 494 crore against Rs 489 crore posted last year. EBITDA stood at Rs 130 crore, down 11% from Rs 146 crore posted last year. Margin contracted to 26.3% in Q3FY22 against 29.9% posted in Q3FY21.
Laxmi Organics: The chemical manufacturing company has reported an 82.2% YoY rise in the consolidated profit at Rs 82 crore for the quarter ended December 31, 2021. It had posted a profit of Rs 45 crore in the corresponding quarter last year. Revenue from operations grew 97.2% YoY to Rs 860 crore against Rs 436 crore posted last year. EBITDA grew 73.5% YoY to Rs 118 crore compared to Rs 68 crore posted last year. Margin contracted to 13.7% in Q3FY22 against 15.6% posted in Q3FY21.
Sutlej Textile: The textile and cotton yarn manufacturer has reported a 217% YoY rise in the consolidated profit at Rs 36.52 crore for the quarter ended December 31, 2021. It had posted a profit of Rs 11.52 crore in the corresponding quarter last year. Revenue from operations grew 48% YoY to Rs 813.21 crore against Rs 549.44 crore posted last year. EBITDA stood at Rs 89.26 crore, up 101% YoY from Rs 44.31 crore posted last year. Margin improved to 10.98% in Q3FY22 against 8.1% posted in Q3FY21.
IFB Industries: The company has reported a consolidated loss of Rs 3.2 crore for the quarter ended December 31, 2021, against a consolidated profit of Rs 71.24 crore posted in the corresponding quarter last year. Revenue from operation was almost flat at Rs 953.1 crore in the period under consideration against Rs 951 crore posted last year. EBITDA stood at Rs 27 crore, down 74.7% from Rs 107.2 crore posted last year. Margins down to 2.8% in Q3FY22 against 11.3% posted in Q3FY21.
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Stocks In News
Eicher Motors: The company has sold 58,838 units of motorcycles in January 2022 against 68,887 units sold in the same month of last year. Total commercial vehicles sales stood at 5,434 units in January 2022 against 5,673 units sold in January 2021.
PVR / Inox Leisure / Burger King/ Westlife/ Jubilant Food/ Speciality Restaurant / Barbeque Nation: With Covid-19 cases steadily falling in Maharashtra, capital Mumbai decided to relax some of the restrictions imposed amid the pandemic wave on Tuesday. The Brihanmumbai Municipal Corporation (BMC) in Mumbai announced new guidelines for the city including the lifting of the night curfew including the restriction on the opening of restaurants beyond 10 pm. Amusement parks and swimming pools can function at 50% capacity. Removed restrictions on the opening of parks, beaches and gardens. Local tourist spots will remain open like in the past.
Tata Teleservices Ltd: Tata Teleservices (Maharashtra) (TTML) has decided not to convert its accrued interest on deferred AGR dues into government equity. IT said the amount to be converted as per the government’s calculations stands at Rs195.22 crore, which is much lesser than its estimation of Rs 850 crore. On January 11, 2022, the company had told the bourses that it wanted to opt for equity conversion. (the news is positive for the company )
Vinati Organics: Veeral Additive Pvt. Ltd. (VAPL) plant is expected to get commissioned in March 2022. The company has formed VOPL, a 100% owned subsidiary, for manufacturing niche speciality chemicals. VOPL is undertaking a CAPEX of approx. Rs 250 crores. This CAPEX comprises 5 new products. It is also expanding Butyl Phenols capacity by 15000 MT at an investment of Rs 100 crore. This expansion will be completed by Q4FY22. The Board has approved an additional 7.5 MW Solar Power with a CAPEX of Rs 35 crore and is expected to be commissioned by March 2022. With a total of 14 MW Solar Power Generation, VOL would meet 50% of its energy requirement through renewable sources and it resonates with our sustainability and green initiatives.
