{"id":18817,"date":"2023-06-05T12:48:17","date_gmt":"2023-06-05T07:18:17","guid":{"rendered":"https:\/\/www.moneyworks4me.com\/investmentshastra\/?p=18817"},"modified":"2023-06-05T12:48:17","modified_gmt":"2023-06-05T07:18:17","slug":"q4fy23-result-updates-02-june-2023","status":"publish","type":"post","link":"https:\/\/www.moneyworks4me.com\/investmentshastra\/q4fy23-result-updates-02-june-2023\/","title":{"rendered":"Q4FY23 Result Updates \u2013 02 June 2023"},"content":{"rendered":"<p>Dear Readers,<\/p>\n<p>Welcome to our weekly 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\u2019s why we are committed to providing you with short and insightful information about the earnings and performance of the companies in our coverage.<\/p>\n<p>In addition to the weekly company result update, after the end of the earnings season, we will also be sending you a quarterly sector result review. This will give you a broader understanding of how these sectors are performing and help you make informed decisions about your investments.<\/p>\n<h2>Britannia Industries Ltd<\/h2>\n<p><a href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Britannia-Industries-Ltd.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-18818 size-medium\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Britannia-Industries-Ltd-600x234.png\" alt=\"Britannia Industries Ltd\" width=\"600\" height=\"234\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Britannia-Industries-Ltd-600x234.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Britannia-Industries-Ltd-1024x400.png 1024w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Britannia-Industries-Ltd-150x59.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Britannia-Industries-Ltd-768x300.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Britannia-Industries-Ltd-1536x600.png 1536w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Britannia-Industries-Ltd-2048x800.png 2048w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Britannia-Industries-Ltd-270x105.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Britannia-Industries-Ltd-370x144.png 370w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p style=\"text-align: center;\"><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium\" style=\"background-color: #f27070; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.moneyworks4me.com\/indianstocks\/large-cap\/fmcg\/consumer-food\/britannia-inds\/company-info#decision-maker-anchor-link\">Check, 10-Year X-ray Now!<\/a><\/p>\n<p><strong><em>Strong numbers. Despite aggressive price hikes Britannia sustained its volumes and improved its margin performance.<\/em><\/strong><\/p>\n<h2>Allcargo Logistics<\/h2>\n<p><a href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Allcargo-Logistics.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-18819 size-medium\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Allcargo-Logistics-600x234.png\" alt=\"Allcargo Logistics\" width=\"600\" height=\"234\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Allcargo-Logistics-600x234.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Allcargo-Logistics-1024x400.png 1024w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Allcargo-Logistics-150x59.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Allcargo-Logistics-768x300.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Allcargo-Logistics-1536x600.png 1536w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Allcargo-Logistics-2048x800.png 2048w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Allcargo-Logistics-270x105.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Allcargo-Logistics-370x144.png 370w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p style=\"text-align: center;\"><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium\" style=\"background-color: #f27070; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.moneyworks4me.com\/indianstocks\/small-cap\/transportation-logistics\/logistics\/allcargo-logistics\/company-info#decision-maker-anchor-link\">Check, 10-Year X-ray Now!<\/a><\/p>\n<p><strong><em>Results were on-par, EBITDA margin expansion key catalyst going forward. GATI business seeing positive traction.<\/em><\/strong><\/p>\n<h2>Adani Ports<\/h2>\n<p><a href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Adani-Ports.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-18820 size-medium\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Adani-Ports-600x211.png\" alt=\"Adani Ports\" width=\"600\" height=\"211\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Adani-Ports-600x211.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Adani-Ports-1024x359.png 1024w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Adani-Ports-150x53.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Adani-Ports-768x269.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Adani-Ports-1536x539.png 1536w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Adani-Ports-2048x719.png 2048w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Adani-Ports-270x95.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Adani-Ports-370x130.png 370w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p style=\"text-align: center;\"><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium\" style=\"background-color: #f27070; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.moneyworks4me.com\/indianstocks\/large-cap\/transportation-logistics\/port\/adani-ports-special\/company-info#decision-maker-anchor-link\">Check, 10-Year X-ray Now!<\/a><\/p>\n<p><strong><em>Good results, with improving volumes guidance and debt reduction to help strengthen fundamentals.<\/em><\/strong><\/p>\n<h2>TVS Motors<\/h2>\n<p><a href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/TVS-Motors.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-18821 size-medium\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/TVS-Motors-600x255.png\" alt=\"TVS Motors\" width=\"600\" height=\"255\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/TVS-Motors-600x255.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/TVS-Motors-1024x435.png 1024w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/TVS-Motors-150x64.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/TVS-Motors-768x326.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/TVS-Motors-1536x652.png 1536w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/TVS-Motors-2048x869.png 2048w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/TVS-Motors-270x115.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/TVS-Motors-370x157.png 370w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p style=\"text-align: center;\"><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium\" style=\"background-color: #f27070; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.moneyworks4me.com\/indianstocks\/large-cap\/automobiles\/automobile-two-three-wheelers\/tvs-motor\/company-info#decision-maker-anchor-link\">Check, 10-Year X-ray Now!<\/a><\/p>\n<p><strong><em>Slightly better than estimated results led by improvement in margin even after higher sales from its low margin EV iQube.\u00a0\u00a0<\/em><\/strong><\/p>\n<h2>Bata India Ltd<\/h2>\n<p><a href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Bata-India-Ltd.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-18822 size-medium\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Bata-India-Ltd-600x313.png\" alt=\"Bata India Ltd\" width=\"600\" height=\"313\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Bata-India-Ltd-600x313.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Bata-India-Ltd-1024x534.png 1024w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Bata-India-Ltd-150x78.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Bata-India-Ltd-768x400.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Bata-India-Ltd-1536x801.png 1536w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Bata-India-Ltd-2048x1068.png 2048w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Bata-India-Ltd-270x141.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Bata-India-Ltd-370x193.png 370w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p style=\"text-align: center;\"><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium\" style=\"background-color: #f27070; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.moneyworks4me.com\/indianstocks\/small-cap\/retail\/retailing\/bata-india\/company-info#decision-maker-anchor-link\">Check, 10-Year X-ray Now!<\/a><\/p>\n<p><strong><em>Good result. <\/em><\/strong><strong><em>Revenue growth will be supported by an increase in the casual and premium portfolio, along with a strong expansion strategy through franchising, distribution channels, and own e-store.<\/em><\/strong><\/p>\n<h2>Avenue Supermarts Ltd<\/h2>\n<p><a href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Avenue-Supermarts-Ltd.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-18823 size-medium\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Avenue-Supermarts-Ltd-600x214.png\" alt=\"Avenue Supermarts Ltd\" width=\"600\" height=\"214\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Avenue-Supermarts-Ltd-600x214.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Avenue-Supermarts-Ltd-1024x364.png 1024w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Avenue-Supermarts-Ltd-150x53.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Avenue-Supermarts-Ltd-768x273.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Avenue-Supermarts-Ltd-1536x547.png 1536w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Avenue-Supermarts-Ltd-2048x729.png 2048w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Avenue-Supermarts-Ltd-270x96.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Avenue-Supermarts-Ltd-370x132.png 370w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p style=\"text-align: center;\"><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium\" style=\"background-color: #f27070; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.moneyworks4me.com\/indianstocks\/large-cap\/retail\/retailing\/avenue-supermarts\/company-info#decision-maker-anchor-link\">Check, 10-Year X-ray Now!<\/a><\/p>\n<p><strong><em>Muted Results on account of lower consumer spending in general merchandise and apparel persisted, impacting the margin mix.<\/em><\/strong><\/p>\n<h2>Power Finance Corporation<\/h2>\n<p><a href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Power-Finance-Corporation.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-18824 size-medium\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Power-Finance-Corporation-600x272.png\" alt=\"Power Finance Corporation\" width=\"600\" height=\"272\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Power-Finance-Corporation-600x272.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Power-Finance-Corporation-1024x464.png 1024w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Power-Finance-Corporation-150x68.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Power-Finance-Corporation-768x348.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Power-Finance-Corporation-1536x697.png 1536w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Power-Finance-Corporation-2048x929.png 2048w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Power-Finance-Corporation-270x122.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Power-Finance-Corporation-370x168.png 370w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p style=\"text-align: center;\"><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium\" style=\"background-color: #f27070; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.moneyworks4me.com\/indianstocks\/mid-cap\/bfsi\/finance-term-lending\/power-finance-corp\/company-info#decision-maker-anchor-link\">Check, 10-Year X-ray Now!<\/a><\/p>\n<p><strong><em>Good results with stable NIM &amp; reduction in NPAs. Infrastructure sector lending up to 30% of advances to help diversify &amp; grow loan book.<\/em><\/strong><\/p>\n<h2>Jubilant Foodworks<\/h2>\n<p><a href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Jubilant-Foodworks.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-18825 size-medium\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Jubilant-Foodworks-600x232.png\" alt=\"Jubilant Foodworks\" width=\"600\" height=\"232\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Jubilant-Foodworks-600x232.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Jubilant-Foodworks-1024x396.png 1024w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Jubilant-Foodworks-150x58.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Jubilant-Foodworks-768x297.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Jubilant-Foodworks-1536x594.png 1536w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Jubilant-Foodworks-2048x791.png 2048w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Jubilant-Foodworks-270x104.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Jubilant-Foodworks-370x143.png 370w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p style=\"text-align: center;\"><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium\" style=\"background-color: #f27070; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.moneyworks4me.com\/indianstocks\/mid-cap\/fmcg\/consumer-food\/jubilant-foodworks\/company-info#decision-maker-anchor-link\">Check, 10-Year X-ray Now!<\/a><\/p>\n<p><strong><em>Weak numbers, Margin contraction on account of Agri inflation. Company is reluctant to pass on full inflation in order to secure volumes.<\/em><\/strong><\/p>\n<h2>Astral Ltd<\/h2>\n<p><a href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Astral-Ltd.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-18826 size-medium\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Astral-Ltd-600x262.png\" alt=\"Astral Ltd\" width=\"600\" height=\"262\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Astral-Ltd-600x262.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Astral-Ltd-1024x447.png 1024w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Astral-Ltd-150x65.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Astral-Ltd-768x335.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Astral-Ltd-1536x671.png 1536w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Astral-Ltd-2048x894.png 2048w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Astral-Ltd-270x118.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Astral-Ltd-370x162.png 370w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p style=\"text-align: center;\"><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium\" style=\"background-color: #f27070; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.moneyworks4me.com\/indianstocks\/mid-cap\/chemicals-fertilizers\/plastic-products\/astral\/company-info#decision-maker-anchor-link\">Check, 10-Year X-ray Now!<\/a><\/p>\n<p><strong><em>Good numbers on account of strong traction in plumbing and P&amp;A segments.<\/em><\/strong><\/p>\n<h2>Apollo Hospitals Enterprise Ltd<\/h2>\n<p><a href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Apollo-Hospitals-Enterprise-Ltd.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-18827 size-medium\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Apollo-Hospitals-Enterprise-Ltd-600x232.png\" alt=\"Apollo Hospitals Enterprise Ltd\" width=\"600\" height=\"232\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Apollo-Hospitals-Enterprise-Ltd-600x232.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Apollo-Hospitals-Enterprise-Ltd-1024x396.png 1024w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Apollo-Hospitals-Enterprise-Ltd-150x58.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Apollo-Hospitals-Enterprise-Ltd-768x297.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Apollo-Hospitals-Enterprise-Ltd-1536x594.png 1536w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Apollo-Hospitals-Enterprise-Ltd-2048x791.png 2048w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Apollo-Hospitals-Enterprise-Ltd-270x104.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Apollo-Hospitals-Enterprise-Ltd-370x143.png 370w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p style=\"text-align: center;\"><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium\" style=\"background-color: #f27070; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.moneyworks4me.com\/indianstocks\/large-cap\/healthcare\/hospital-healthcare-services\/apollo-hospital-ent\/company-info#decision-maker-anchor-link\">Check, 10-Year X-ray Now!<\/a><\/p>\n<p><strong><em>At par result.<\/em><\/strong>\u00a0<strong><em>Revenue growth is mainly supported by healthcare as well as HealthCo (Pharmacy) business.<\/em><\/strong><\/p>\n<h2>Sundaram Finance<\/h2>\n<p><a href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Sundaram-Finance.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-18828 size-medium\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Sundaram-Finance-600x254.png\" alt=\"Sundaram Finance\" width=\"600\" height=\"254\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Sundaram-Finance-600x254.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Sundaram-Finance-1024x433.png 1024w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Sundaram-Finance-150x63.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Sundaram-Finance-768x325.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Sundaram-Finance-1536x650.png 1536w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Sundaram-Finance-2048x866.png 2048w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Sundaram-Finance-270x114.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Sundaram-Finance-370x157.png 370w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p style=\"text-align: center;\"><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium\" style=\"background-color: #f27070; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.moneyworks4me.com\/indianstocks\/mid-cap\/bfsi\/finance-nbfc\/sundaram-finance\/company-info#decision-maker-anchor-link\">Check, 10-Year X-ray Now!<\/a><\/p>\n<p><strong><em>Good results driven by advanced growth &amp; improvement in asset quality.<\/em><\/strong><\/p>\n<h2>Eicher Motors<\/h2>\n<p style=\"text-align: center;\"><a href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Eicher-Motors.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-18829 size-medium\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Eicher-Motors-600x270.png\" alt=\"Eicher Motors\" width=\"600\" height=\"270\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Eicher-Motors-600x270.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Eicher-Motors-1024x461.png 1024w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Eicher-Motors-150x68.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Eicher-Motors-768x346.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Eicher-Motors-1536x692.png 1536w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Eicher-Motors-2048x923.png 2048w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Eicher-Motors-270x122.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Eicher-Motors-370x167.png 370w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p style=\"text-align: center;\"><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium\" style=\"background-color: #f27070; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.moneyworks4me.com\/indianstocks\/large-cap\/automobiles\/automobile-two-three-wheelers\/eicher-motors\/company-info#decision-maker-anchor-link\">Check, 10-Year X-ray Now!<\/a><\/p>\n<p><strong><em>Earnings beat estimates on the back of increasing ASP as well as an improved mix.<\/em><\/strong><\/p>\n<h2>Aegis Logistics<\/h2>\n<p style=\"text-align: center;\"><a href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Aegis-Logistics.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-18830 size-medium\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Aegis-Logistics-600x172.png\" alt=\"Aegis Logistics\" width=\"600\" height=\"172\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Aegis-Logistics-600x172.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Aegis-Logistics-1024x293.png 1024w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Aegis-Logistics-150x43.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Aegis-Logistics-768x220.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Aegis-Logistics-1536x439.png 1536w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Aegis-Logistics-2048x586.png 2048w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Aegis-Logistics-270x77.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Aegis-Logistics-370x106.png 370w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p style=\"text-align: center;\"><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium\" style=\"background-color: #f27070; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.moneyworks4me.com\/indianstocks\/small-cap\/transportation-logistics\/logistics\/aegis-logistics\/company-info#decision-maker-anchor-link\">Check, 10-Year X-ray Now!<\/a><\/p>\n<p><strong><em>Results were subpar, with positive improvement in liquid &amp; LPG distribution segments.<\/em><\/strong><\/p>\n<h2>Balkrishna Industries<\/h2>\n<p style=\"text-align: center;\"><a href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Balkrishna-Industries.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-18831 size-medium\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Balkrishna-Industries-600x234.png\" alt=\"Balkrishna Industries\" width=\"600\" height=\"234\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Balkrishna-Industries-600x234.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Balkrishna-Industries-1024x399.png 1024w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Balkrishna-Industries-150x58.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Balkrishna-Industries-768x299.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Balkrishna-Industries-1536x599.png 1536w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Balkrishna-Industries-2048x798.png 2048w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Balkrishna-Industries-270x105.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Balkrishna-Industries-370x144.png 370w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p style=\"text-align: center;\"><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium\" style=\"background-color: #f27070; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.moneyworks4me.com\/indianstocks\/mid-cap\/automobiles\/tyres-allied\/balkrishna-inds\/company-info#decision-maker-anchor-link\">Check, 10-Year X-ray Now!<\/a><\/p>\n<p><strong><em>Below par result impacted by margin contraction due to high raw material costs. Sharp rise in depreciation and Interest cost has impacted PAT.<\/em><\/strong><\/p>\n<h2>Ashok Leyland<\/h2>\n<p style=\"text-align: center;\"><a href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Ashok-Leyland.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-18832 size-medium\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Ashok-Leyland-600x253.png\" alt=\"Ashok Leyland\" width=\"600\" height=\"253\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Ashok-Leyland-600x253.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Ashok-Leyland-1024x433.png 1024w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Ashok-Leyland-150x63.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Ashok-Leyland-768x324.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Ashok-Leyland-1536x649.png 1536w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Ashok-Leyland-2048x865.png 2048w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Ashok-Leyland-270x114.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/06\/Ashok-Leyland-370x156.png 370w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p style=\"text-align: center;\"><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium\" style=\"background-color: #f27070; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.moneyworks4me.com\/indianstocks\/mid-cap\/automobiles\/automobiles-trucks-lcv\/ashok-leyland\/company-info#decision-maker-anchor-link\">Check, 10-Year X-ray Now!<\/a><\/p>\n<p><strong><em>At par result with improvement in MHCV market share, however LCV segment remains a reason to with increased competition.<\/em><\/strong><\/p>\n<figure class=\"is-figure\"><p><a href=\"https:\/\/www.moneyworks4me.com\/payment\/index\/subscribe-superstars-offer\/?from=investmentshastra-q4fy23-results-02-june23-update-blog\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-18657 size-full\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/04\/core-50-superstars-banner.png\" alt=\"core 50 superstars banner\" width=\"850\" height=\"251\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/04\/core-50-superstars-banner.png 850w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/04\/core-50-superstars-banner-600x177.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/04\/core-50-superstars-banner-150x44.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/04\/core-50-superstars-banner-768x227.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/04\/core-50-superstars-banner-270x80.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/04\/core-50-superstars-banner-370x109.png 370w\" sizes=\"auto, (max-width: 850px) 100vw, 850px\" \/><\/a><\/p><figcaption>Best Stocks From<\/figcaption><\/figure>\n\n<p><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium\" style=\"background-color: #1eaf6d; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.moneyworks4me.com\/alpha-case\/index\/alpha-case\/id\/92\/strategy\/undervalued\/casename\/All%20Weather\">All Weather Alpha Case<\/a>\u00a0\u00a0<a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium\" style=\"background-color: #1eaf6d; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.moneyworks4me.com\/stock-market\/stock-screener\">Screener<\/a> <a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium\" style=\"background-color: #1eaf6d; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.moneyworks4me.com\/alpha-case\">Alpha Cases<\/a> \u00a0<a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium\" style=\"background-color: #1eaf6d; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.moneyworks4me.com\/stock-market\/business-houses\/\">Business Houses Group<\/a><\/p>\n<hr>\n<p><a href=\"https:\/\/www.moneyworks4me.com\/\"><img decoding=\"async\" style=\"float: left; height: 100px; padding-right: 16px; margin-left: 40px;\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/07\/logo-mw4me.png\" alt=\"\"> <\/a> <a class=\"hide-mobile\" href=\"https:\/\/t.me\/mw4me\" target=\"_blank\" rel=\"noopener\" aria-label=\"Visit t.me\"><img decoding=\"async\" style=\"float: left; height: 100px; padding-right: 16px;\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2018\/05\/investments-shastra-blog.png\" alt=\"\"> <\/a><\/p>\n<div class=\"hide-mobile\" style=\"height: 100px; padding-top: 15px;\"><strong style=\"font-size: 15px; color: #32aadf; --is-ink: #227498\">Join our Telegram Channel:<\/strong><br>\n<a style=\"text-decoration: underline; font-size: 14px;\" href=\"https:\/\/t.me\/fundamentalstockinvesting\">Stock Investing<\/a><br>\n<a style=\"text-decoration: underline; font-size: 14px;\" href=\"https:\/\/t.me\/mutualfundinvesting\">Mutual Fund Investing<\/a><\/div>\n<p>\u00a0<\/p>\n<div class=\"hide-desktop\" style=\"float: left; width: 100%; text-align: center; padding-bottom: 15px;\"><a href=\"https:\/\/t.me\/mw4me\" target=\"_blank\" rel=\"noopener\" aria-label=\"Visit t.me\"><img decoding=\"async\" style=\"height: 100px;\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2018\/05\/investments-shastra-blog.png\" alt=\"\"><\/a><br>\n<strong style=\"font-size: 15px; color: #32aadf; --is-ink: #227498\">Join our Telegram Channel:<\/strong><br>\n<a style=\"text-decoration: underline; font-size: 14px;\" href=\"https:\/\/t.me\/fundamentalstockinvesting\">Stock Investing<\/a><br>\n<a style=\"text-decoration: underline; font-size: 14px;\" href=\"https:\/\/t.me\/mutualfundinvesting\">Mutual Fund Investing<\/a><\/div>\n<div style=\"text-align: center;\">\n\n<figure class=\"is-figure\"><div class=\"puchhoBefikarIcon\"><img loading=\"lazy\" decoding=\"async\" class=\"\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2018\/05\/puchho-befikar-logo.png\" width=\"59\" height=\"46\" alt=\"Need help on Investing? And more\u2026.Puchho Befikar\"><\/div><figcaption>Need help on Investing? And more\u2026.Puchho Befikar<\/figcaption><\/figure>\n<p><b><i><\/i><\/b><a href=\"https:\/\/www.youtube.com\/watch?v=iqqbuJbMlk4%20\" target=\"_blank\" rel=\"noopener\">Why MoneyWorks4me<\/a> | Call: <a href=\"tel:+91%2020%206725%208333\">020 6725 8333<\/a> | <a href=\"https:\/\/www.moneyworks4me.com\/dashboard\/sensible-investing\/books\/how-the-heck-to-invest-and-reach-nirvana\" target=\"_blank\" rel=\"noopener\">Ebook<\/a>\u00a0| WhatsApp: <a href=\"https:\/\/api.whatsapp.com\/send?phone=918055769463&amp;text=Need%20any%20help?\" target=\"_blank\" rel=\"noopener\">9860359463<\/a><\/p>\n<p style=\"text-align: left;\"><strong>*<\/strong>Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.<\/p>\n<p style=\"text-align: left;\"><strong>*Disclaimer:<\/strong> The securities quoted are for illustration only and are not recommendatory<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Welcome to our weekly 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.<\/p>\n","protected":false},"author":15,"featured_media":18833,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_is2025_no_summary":false,"footnotes":""},"categories":[1166,1182],"tags":[],"class_list":["post-18817","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analyst-corner","category-mw4me-outlook"],"_links":{"self":[{"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/posts\/18817","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/comments?post=18817"}],"version-history":[{"count":0,"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/posts\/18817\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/media\/18833"}],"wp:attachment":[{"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/media?parent=18817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/categories?post=18817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/tags?post=18817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}