{"id":18963,"date":"2023-07-28T21:54:30","date_gmt":"2023-07-28T16:24:30","guid":{"rendered":"https:\/\/www.moneyworks4me.com\/investmentshastra\/?p=18963"},"modified":"2023-08-08T12:29:21","modified_gmt":"2023-08-08T06:59:21","slug":"q1fy24-result-updates-28-july-2023","status":"publish","type":"post","link":"https:\/\/www.moneyworks4me.com\/investmentshastra\/q1fy24-result-updates-28-july-2023\/","title":{"rendered":"Q1FY24 Result Updates (Reliance Ind, L&#038;T, Tata Motors, Bajaj Auto, Tech Mahindra)"},"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<h2>Reliance Industries<a href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/ril-1.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-18965 size-medium\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/ril-1-600x278.png\" alt=\"Reliance Industries\" width=\"600\" height=\"278\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/ril-1-600x278.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/ril-1-150x70.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/ril-1-768x356.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/ril-1-270x125.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/ril-1-370x172.png 370w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/ril-1.png 992w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/h2>\n<p><em>Muted O2C performance and higher tax expense has dragged overall profitability, positive sequentially.<\/em><\/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\/oil-gas\/refineries\/reliance-industries\/company-info#decision-maker-anchor-link\">Check, 10-Year X-ray Now!<\/a><\/p>\n<h2>Tech Mahindra<\/h2>\n<p style=\"text-align: center;\"><a href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/tech-mahindra.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-18966 size-medium\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/tech-mahindra-600x160.png\" alt=\"Tech Mahindra\" width=\"600\" height=\"160\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/tech-mahindra-600x160.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/tech-mahindra-150x40.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/tech-mahindra-768x205.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/tech-mahindra-270x72.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/tech-mahindra-370x99.png 370w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/tech-mahindra.png 983w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p><em>Net new deal TCV declined sharply at USD 359mn, -50% YoY which shall impact near term growth. Disappointing results, recovery might take longer than expected.<\/em><\/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\/it-ites\/it-software\/tech-mahindra\/company-info#decision-maker-anchor-link\">Check, 10-Year X-ray Now!<\/a><\/p>\n<h2>Larsen &amp; Toubro<\/h2>\n<p><a href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/Lnt.png\" aria-label=\"View larger image\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-18967 size-medium\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/Lnt-600x124.png\" alt=\"\" width=\"600\" height=\"124\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/Lnt-600x124.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/Lnt-150x31.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/Lnt-768x158.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/Lnt-270x56.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/Lnt-370x76.png 370w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/Lnt.png 986w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p><em>Strong results on all major fronts, robust orderbook gives good visibility of growth.<\/em><\/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\/construction-infrastructure\/engineering-construction\/larsen-toubro\/company-info#decision-maker-anchor-link\">Check, 10-Year X-ray Now!<\/a><\/p>\n<h2>Tata Motors<\/h2>\n<p><a href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/tata-motos.png\" aria-label=\"View larger image\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-18968 size-medium\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/tata-motos-600x182.png\" alt=\"\" width=\"600\" height=\"182\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/tata-motos-600x182.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/tata-motos-150x46.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/tata-motos-768x233.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/tata-motos-270x82.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/tata-motos-370x112.png 370w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/tata-motos.png 984w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p><em>Strong results led by JLR. Steady pipeline of CNG\/EV Models in PV space provides pipeline for further growth. Tata Motors Board has approved a proposal for converting its DVR (Differential Voting Rights) shares into ordinary shares (7 TTMT shares for every 10 DVR shares). This will reduce the share capital by 4% making it EPS accretive.<\/em><\/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\/automobiles-trucks-lcv\/tata-motors\/company-info#decision-maker-anchor-link\">Check, 10-Year X-ray Now!<\/a><\/p>\n<h2>Bajaj Auto<\/h2>\n<p><a href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/bajaj-auto.png\" aria-label=\"View larger image\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-18969 size-medium\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/bajaj-auto-600x146.png\" alt=\"\" width=\"600\" height=\"146\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/bajaj-auto-600x146.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/bajaj-auto-150x36.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/bajaj-auto-768x187.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/bajaj-auto-270x66.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/bajaj-auto-370x90.png 370w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/bajaj-auto.png 988w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p><em>Good performance even after the slowdown in exports.<\/em><\/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\/bajaj-auto\/company-info#decision-maker-anchor-link\">Check, 10-Year X-ray Now!<\/a><\/p>\n<h2>TVS Motors<\/h2>\n<p><a href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/tvs-motor.png\" aria-label=\"View larger image\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-18970 size-medium\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/tvs-motor-600x124.png\" alt=\"\" width=\"600\" height=\"124\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/tvs-motor-600x124.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/tvs-motor-150x31.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/tvs-motor-768x158.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/tvs-motor-270x56.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/tvs-motor-370x76.png 370w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/tvs-motor.png 985w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p><em>Healthy performance on market share gains and ramp up of EV sales.<\/em><\/p>\n<h2 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><\/h2>\n<h2>ACC Ltd<\/h2>\n<p><a href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/acc.png\" aria-label=\"View larger image\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-18971 size-medium\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/acc-600x139.png\" alt=\"\" width=\"600\" height=\"139\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/acc-600x139.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/acc-150x35.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/acc-768x178.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/acc-270x63.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/acc-370x86.png 370w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/acc.png 996w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p><em>Strong performance as a result of volume growth supported by reduced fuel cost, we expect sustained performance going forward.\u00a0<\/em><\/p>\n<h2 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\/construction-infrastructure\/cement-construction-materials\/acc\/company-info#decision-maker-anchor-link\">Check, 10-Year X-ray Now!<\/a><\/h2>\n<h2>Cipla Ltd<\/h2>\n<p><a href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/cipla.png\" aria-label=\"View larger image\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-18972 size-medium\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/cipla-600x139.png\" alt=\"\" width=\"600\" height=\"139\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/cipla-600x139.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/cipla-150x35.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/cipla-768x178.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/cipla-270x63.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/cipla-370x86.png 370w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/cipla.png 994w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p><em>Stellar performance on all fronts. Traction driven by chronic therapy solutions in domestic market as well as better execution in base business. Higher-than-expected revenue contribution from gRevlimid (myeloma cancer medication) also aided growth. \u00a0<\/em><\/p>\n<h2 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\/pharmaceuticals-drugs\/cipla\/company-info#decision-maker-anchor-link\">Check, 10-Year X-ray Now!<\/a><\/h2>\n<h2>Dr Reddy\u2019s Laboratories Ltd<\/h2>\n<p><a href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/dr-reddy.png\" aria-label=\"View larger image\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-18973 size-medium\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/dr-reddy-600x159.png\" alt=\"\" width=\"600\" height=\"159\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/dr-reddy-600x159.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/dr-reddy-150x40.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/dr-reddy-768x203.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/dr-reddy-270x71.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/dr-reddy-370x98.png 370w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/dr-reddy.png 1001w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p><em>Good performance on uptick in exports across North America business and favorable seasonality in the Russia business.<\/em><\/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\/pharmaceuticals-drugs\/dr-reddys-lab\/company-info#decision-maker-anchor-link\">Check, 10-Year X-ray Now!<\/a><\/p>\n<h2>Syngene International Ltd<\/h2>\n<p><em><a href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/syngine.png\" aria-label=\"View larger image\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-18974 size-medium\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/syngine-600x144.png\" alt=\"\" width=\"600\" height=\"144\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/syngine-600x144.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/syngine-150x36.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/syngine-768x184.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/syngine-270x65.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/syngine-370x89.png 370w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/syngine.png 1003w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/em><\/p>\n<p><em>Healthy results aided by currency benefits (7% positive impact).<\/em><\/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\/miscellaneous\/miscellaneous\/syngene-internation\/company-info#decision-maker-anchor-link\">Check, 10-Year X-ray Now!<\/a><\/p>\n<h2>Ajanta Pharma Ltd<\/h2>\n<p><a href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/ajanta-pharma.png\" aria-label=\"View larger image\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-18975 size-medium\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/ajanta-pharma-600x125.png\" alt=\"\" width=\"600\" height=\"125\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/ajanta-pharma-600x125.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/ajanta-pharma-150x31.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/ajanta-pharma-768x159.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/ajanta-pharma-270x56.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/ajanta-pharma-370x77.png 370w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/ajanta-pharma.png 1002w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p><em>Company reported good results on performance across therapeutic brand portfolio.<\/em><\/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\/healthcare\/pharmaceuticals-drugs\/ajanta-pharma\/company-info#decision-maker-anchor-link\">Check, 10-Year X-ray Now!<\/a><\/p>\n<h2>Mahindra Logistics Ltd<\/h2>\n<p><a href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/mahindra-log.png\" aria-label=\"View larger image\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-18976 size-medium\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/mahindra-log-600x160.png\" alt=\"\" width=\"600\" height=\"160\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/mahindra-log-600x160.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/mahindra-log-150x40.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/mahindra-log-768x204.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/mahindra-log-270x72.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/mahindra-log-370x98.png 370w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/mahindra-log.png 993w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p><em>In line performance- while operating margins were not hurt, PAT losses are due to IND 116 (lease accounting) which results in front loading of interest cost (flattish QoQ).<\/em><\/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\/mahindra-logistics\/company-info#decision-maker-anchor-link\">Check, 10-Year X-ray Now!<\/a><\/p>\n<h2>Aegis Logistics Ltd<\/h2>\n<p><a href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/aegis.png\" aria-label=\"View larger image\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-18977 size-medium\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/aegis-600x121.png\" alt=\"\" width=\"600\" height=\"121\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/aegis-600x121.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/aegis-150x30.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/aegis-768x155.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/aegis-270x55.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/aegis-370x75.png 370w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/aegis.png 995w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p><em>Overall good performance, minor decline in revenues is not to be read into.<\/em><\/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<h2>Blue Dart Express Ltd<\/h2>\n<p><a href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/bluedart.png\" aria-label=\"View larger image\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-18978 size-medium\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/bluedart-600x139.png\" alt=\"\" width=\"600\" height=\"139\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/bluedart-600x139.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/bluedart-150x35.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/bluedart-768x178.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/bluedart-270x62.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/bluedart-370x86.png 370w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/bluedart.png 994w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p><em>Weak results but freight cost pass through expected in coming few quarters will lead to margin recovery.<\/em><\/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\/courier-services\/blue-dart-express\/company-info#decision-maker-anchor-link\">Check, 10-Year X-ray Now!<\/a><\/p>\n<h2>Coromandel International Ltd<\/h2>\n<p><a href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/coromandal.png\" aria-label=\"View larger image\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-18979 size-medium\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/coromandal-600x103.png\" alt=\"\" width=\"600\" height=\"103\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/coromandal-600x103.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/coromandal-150x26.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/coromandal-768x132.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/coromandal-270x46.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/coromandal-370x64.png 370w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/coromandal.png 995w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p><em>Steady performance on back of strong volumes and sustained margins despite challenging business environment.<\/em><\/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\/fertilizers\/coromandel-interntl\/company-info#decision-maker-anchor-link\">Check, 10-Year X-ray Now!<\/a><\/p>\n<h2>BASF India Ltd<\/h2>\n<p><a href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/basf.png\" aria-label=\"View larger image\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-18980 size-medium\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/basf-600x163.png\" alt=\"\" width=\"600\" height=\"163\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/basf-600x163.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/basf-150x41.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/basf-768x208.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/basf-270x73.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/basf-370x100.png 370w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/basf.png 984w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p><em>Subdued results on account of industry wide low demand scenario and weak performance in key segment.\u00a0<\/em><\/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\/chemicals-fertilizers\/pesticides-agrochemicals\/basf-india\/company-info#decision-maker-anchor-link\">Check, 10-Year X-ray Now!<\/a><\/p>\n<h2>SRF Ltd<\/h2>\n<p><a href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/sef.png\" aria-label=\"View larger image\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-18981 size-medium\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/sef-600x143.png\" alt=\"\" width=\"600\" height=\"143\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/sef-600x143.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/sef-150x36.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/sef-768x183.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/sef-270x64.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/sef-370x88.png 370w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/sef.png 986w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p><em>Weak results and near term headwinds due to down cycle in packaging film business as well as China dumping issues in chemical segment.<\/em><\/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\/chemicals-fertilizers\/chemicals\/srf\/company-info#decision-maker-anchor-link\">Check, 10-Year X-ray Now!<\/a><\/p>\n<h2>Astec Lifesciences Ltd<\/h2>\n<p><a href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/astec.png\" aria-label=\"View larger image\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-18982 size-medium\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/astec-600x142.png\" alt=\"\" width=\"600\" height=\"142\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/astec-600x142.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/astec-150x35.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/astec-768x181.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/astec-270x64.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/astec-370x87.png 370w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/07\/astec.png 983w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p><em>Poor results on sluggish demand environment impacting volumes.<\/em><\/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\/chemicals-fertilizers\/pesticides-agrochemicals\/astec-lifesciences\/company-info#decision-maker-anchor-link\">Check, 10-Year X-ray Now!<\/a><\/p>\n<p><a href=\"https:\/\/www.moneyworks4me.com\/payment\/index\/subscribe-superstars-offer\/?from=investmentshastra-q1fy24-results-28-july23-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><br>\n<strong><span style=\"text-decoration: underline;\">Best Stocks From<\/span>:<\/strong><\/p>\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":18984,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_is2025_no_summary":false,"footnotes":""},"categories":[1166,1182],"tags":[1551,1530,1549,1526],"class_list":["post-18963","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analyst-corner","category-mw4me-outlook","tag-q1fy24","tag-quarterly-result-update","tag-result-update","tag-weekly-result-update"],"_links":{"self":[{"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/posts\/18963","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=18963"}],"version-history":[{"count":0,"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/posts\/18963\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/media\/18984"}],"wp:attachment":[{"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/media?parent=18963"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/categories?post=18963"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/tags?post=18963"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}