Dear Readers,
Welcome to our company result update note. We understand the importance of staying up-to-date with the latest financial developments of the companies you have invested in. That’s why we are committed to providing you with short and insightful information about the earnings and performance of the companies in our coverage.
Contents:
- Pharma (Sun Pharma, Cipla)
- Logistics (Container Corp, Bluedart, Mahindra Logistics)
- Chemicals and allied (Coromandel, SRF)
[sta_anchor id=”pharma”]Pharma[/sta_anchor]
Sun Pharma
Resilient performance on the back of increased volumes, price increases, and new product launches.
Dr Reddy’s Laboratories
Good results plan to focus on licensing and collaborating with partners to bring innovation to India and strengthen its presence in the generic business.
Cipla
Robust results.
Torrent Pharmaceutical
Good results, a key factor to monitor going ahead will be domestic revenue growth.
Ajanta Pharma
Healthy performance.
Syngene International
Sustained performance, management indicated revenue growth for the full year at mid-teens on a constant currency basis compared to earlier guidance of high-teen growth.
[sta_anchor id=”logistics”]Logistics[/sta_anchor]
Container corporation
Healthy performance with volume growth and stable margins.
Bluedart Express
Performance has improved sequentially as revenues and profits grew QoQ.
Mahindra Logistics
Optically results are not good. EBITDA loss of Rs 24 Cr in an express segment (Rivigo) dragged down performance; management expected it to turn EBITDA positive in H1FY24 but now guidance is that the same will happen at the end of FY24.
Aegis Logistics
Good results and a decline in quarterly revenues (trading business) shouldn’t be a concern.
[sta_anchor id=”chemicals”]Chemicals and allied[/sta_anchor]
Coromandel International
Resilient performance.
SRF
Weak results on China dumping leading to low demand and weak prices in select segments.
Godrej Agrovet
Steady performance.
Astec Lifesciences
Poor performance; as demand-supply imbalance, price erosion, and inventory destocking impacted the enterprise segment.
Sudarshan Chemicals
Strong results on input cost reducing and operating leverage playing out.
Rallis
Healthy results, looking at the industry scenario, the management has taken needed steps.
Nocil
Muted results on recessionary pressure in the export market, domestic volumes were flat QoQ.
Related Blog:
- Q2FY24: Weekly Result Update Part 1 – Dabur, ACC, L&T, Petronet
- Q2FY24: Weekly Result Update Part 3 – Reliance, Airtel, HCL, Maruti Suzuki, Care Ratings
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