{"id":19119,"date":"2023-08-12T12:39:29","date_gmt":"2023-08-12T07:09:29","guid":{"rendered":"https:\/\/www.moneyworks4me.com\/investmentshastra\/?p=19119"},"modified":"2023-08-14T17:47:15","modified_gmt":"2023-08-14T12:17:15","slug":"q1fy24-weekly-result-update-12-aug-2023","status":"publish","type":"post","link":"https:\/\/www.moneyworks4me.com\/investmentshastra\/q1fy24-weekly-result-update-12-aug-2023\/","title":{"rendered":"Q1FY24: Weekly Result Update – Britannia, Page Industries, Zee Entertainment"},"content":{"rendered":"

Dear Readers,<\/p>\n

Welcome to our weekly company results 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. <\/p>\n

Sector index<\/strong><\/p>\n

    \n
  1. FMCG<\/li>\n
  2. Auto and auto ancillaries             <\/li>\n
  3. Retail<\/li>\n
  4. Healthcare<\/li>\n
  5. Capital goods and Industrial consumables               <\/li>\n
  6. Power<\/li>\n
  7. Logistics<\/li>\n
  8. Pharma<\/li>\n
  9. Chemicals<\/li>\n
  10. Other<\/li>\n<\/ol>\n

    1. FMCG<\/h2>\n

    Britannia Industries Ltd<\/strong><\/h3>\n

    \"Britannia<\/a><\/p>\n

    The muted result on account of flattish volume growth and increased local competition decelerate growth.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Emami Ltd<\/strong><\/h3>\n

    \"Emami<\/a><\/p>\n

    Good results on all parameters, double-digit growth in pain management and healthcare range which is encouraging.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Bajaj Consumer Care Ltd<\/strong><\/h3>\n

    \"Bajaj<\/a><\/p>\n

    Healthy performance, with broad-based growth across SKUs.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Mrs Bectors Food Specialities Ltd<\/strong><\/h3>\n

    \"Mrs<\/a><\/p>\n

    Consistently strong performance, maintaining effectiveness across all parameters.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Devyani International Ltd<\/strong><\/p>\n

    \"Devyani<\/a><\/p>\n

    The subpar result on account of revenue primarily influenced by store additions in response to weak same-store sales growth (SSSG).<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Bata India Ltd<\/strong><\/p>\n

    \"Bata<\/a><\/p>\n

    At par result on account of decrease in same-store sale growth (SSSG) but increase in average selling price.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    2. Auto and auto ancillaries             <\/strong><\/h2>\n

    Balkrishna Inds <\/strong><\/h3>\n

    \"Balkrishna<\/a><\/p>\n

    Weak results due to channel inventory-related challenges & recessionary pressures in key regions. The margin improvement was positive.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Hero MotoCorp Ltd<\/strong><\/h3>\n

    \"Hero<\/a><\/p>\n

    Steady results.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Bharat Forge<\/strong><\/h3>\n

    \"Bharat<\/a><\/p>\n

    Good results. Diversification of the revenue base & Defense segment turning profitable will be key metrics to track.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    3. Retail<\/strong><\/h2>\n

    V-Mart Retail Ltd<\/strong><\/h3>\n

    \"V-Mart<\/a><\/p>\n

    The muted result is on account of the decline in SSSG and also the decline in the average selling price.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Page Industries Ltd<\/strong><\/h3>\n

    \"Page<\/a><\/p>\n

    A weak set of numbers on account of slower recovery in demand and increase in competitive intensity.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Trent Ltd<\/strong><\/h3>\n

    \"Trent<\/a><\/p>\n

    Robust numbers. Sustained performance with healthy retail expansion.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Aditya Birla Fashion & Retail Ltd<\/strong><\/h3>\n

    \"Aditya<\/a><\/p>\n

    Subpar financial results due to investments in emerging brands, which negatively impacted the core business performance.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    \"banner\"<\/a><\/h2>\n

    4. Healthcare<\/strong><\/h2>\n

    Krishna Institute of Medical Sciences Ltd<\/strong><\/h3>\n

    \"Krishna<\/a><\/p>\n

    Healthy performance. Increase in Average Revenue Per Occupied Bed* and expansion in capacity.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Rainbow Childrens Medicare Ltd<\/strong><\/h3>\n

    \"Rainbow<\/a><\/p>\n

    Subpar performance on account of rise in Average revenue per occupied bed* but decrease in EBITDA margin.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Healthcare Global Enterprises Ltd<\/strong><\/h3>\n

    \"Healthcare<\/a><\/p>\n

    Good result on all parameters, sustaining performance with a healthy focus on capacity expansion.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    5. Capital goods & industrial Consumables<\/strong><\/h2>\n

    V-Guard Industries<\/strong><\/h3>\n

    \"V-Guard<\/a><\/p>\n

    Steady results.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Siemens <\/strong><\/h3>\n

    \"Siemens\"<\/a><\/p>\n

    Muted results on the margin front with the sequential drop of 110 bps.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    6. Power<\/strong><\/h2>\n

    Tata Power Company Ltd<\/strong><\/h3>\n

    \"Tata<\/a><\/p>\n

    Good result on all parameters, sustaining performance with a healthy focus on capacity additions.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Torrent Power Ltd<\/strong><\/h3>\n

    \"Torrent<\/a><\/p>\n

    Positive financial results. Good performance across all metrics.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    \"core<\/a><\/p>\n

     <\/p>\n

    7. Logistics<\/strong><\/h2>\n

    Container Corporation<\/strong><\/h3>\n

    \"Container<\/a><\/p>\n

    While domestic volumes increased 10% YoY, revenue declined 5%. Rail export-import (EXIM) volumes increased 7% and revenue was flattish. Despite the fact that quarterly performance was sluggish, we will keep an eye out for realizations to normalize.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Adani Ports and SEZ<\/strong><\/h3>\n

    \"Adani<\/a><\/p>\n

    Strong performance on healthy volume growth as well as margin expansion. Both port and logistics segment delivered good results. <\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Gujarat Pipavav Port<\/strong><\/h3>\n

    \"Gujarat<\/a><\/p>\n

    Taking into account that operations were suspended for 16 days (power outage and cyclone), the company delivered even results.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Allcargo Logistics<\/strong><\/h3>\n

    \"Allcargo<\/a><\/p>\n

    Poor result as export-import (EXIM) volumes declined due to subdued global trade activity and increased competitive intensity.  <\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    8. Pharma<\/h2>\n

    Zydus Lifesciences<\/strong><\/h3>\n

    \"Zydus<\/a><\/p>\n

    Stellar results on the back of performance across segments, margin expansion, and cost control.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Biocon<\/strong><\/h3>\n

    \"Biocon\"<\/a><\/p>\n

    Good results, growth in the Biosimilars business aided by acquisition (Viatris\u2019 biosimilar). <\/p>\n

    Check, 10-Year X-ray Now!<\/a> <\/p>\n

    Aurobindo Pharma<\/strong><\/h3>\n

    \"Aurobindo<\/a><\/p>\n

    Good results, with performance across markets (excluding antiretroviral therapy). *Active pharmaceutical ingredients.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Torrent Pharmaceuticals<\/strong><\/h3>\n

    \"Torrent<\/a><\/p>\n

    Steady results. *Operating in the cosmetic dermatology segment.<\/p>\n

    Check, 10-Year X-ray Now!<\/a> <\/p>\n

    Ipca Laboratories<\/strong><\/h3>\n

    \"Ipca<\/a><\/p>\n

    Good results, with overall revenue growth and margin expansion.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Abbott India<\/strong><\/h3>\n

    \"Abbott<\/a><\/p>\n

    Performance was above expectations on better product mix and margin expansion. <\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Natco Pharma<\/strong><\/h3>\n

    \"Natco<\/a><\/p>\n

    Good results.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Granules<\/strong><\/h3>\n

    \"Granules\"<\/a><\/p>\n

    Poor results due to isolated event, recovery expected. *Failure to supply.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    J B Chemicals & Pharmaceuticals<\/strong><\/h3>\n

    \"J<\/a><\/p>\n

    Good results with continued momentum. <\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    FDC<\/strong><\/h3>\n

    \"FDC\"<\/a><\/p>\n

    Results were startling, particularly in terms of the EBITDA margin. We will be closely monitoring its margin trajectory moving forward.  <\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    ERIS Lifesciences<\/strong><\/h3>\n

    \"ERIS<\/a><\/p>\n

    Healthy results, on growth in key markets except US.  *Yield per man.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Sequent Scientific<\/strong><\/h3>\n

    \"Sequent<\/a><\/p>\n

    Poor results, although EBITDA before exceptional items and acquisition cost was positive.<\/p>\n

    Check, 10-Year X-ray Now!<\/a> <\/p>\n

    Poly Medicure<\/strong><\/h3>\n

    \"Poly<\/a><\/p>\n

    Strong results, with sustained demand and healthy margins.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Shilpa Medicare<\/strong><\/h3>\n

    \"Shilpa<\/a><\/p>\n

    Muted results with mixed bag performance.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    9. Chemicals<\/h2>\n

    Tata Chemicals<\/strong><\/h3>\n

    \"Tata<\/a><\/p>\n

    Overall results were steady with lower volumes shadowed by better realizations.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Aarti Industries<\/strong><\/h3>\n

    \"Aarti<\/a><\/p>\n

    A slowdown in end-user industries, China’s oversupply, and inventory correction across export markets contributed to weak performance.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Chemplast Sanmar<\/strong><\/h3>\n

    \"Chemplast<\/a><\/p>\n

    Poor results, management guided that prices of key products have bottomed out, which could result in performance recovery.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Galaxy Surfactants<\/strong><\/h3>\n

    \"Galaxy<\/a><\/p>\n

    Domestic demand was steady but export markets are under inflationary pressure leading to a decline in performance.  <\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Sudarshan Chemical Industries<\/strong><\/h3>\n

    \"Sudarshan<\/a><\/p>\n

    Good performance in export and specialty segments.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Vinati Organics<\/strong><\/h3>\n

    \"Vinati<\/a><\/p>\n

    Sluggish results.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Alkyl Amines Chemicals<\/strong><\/h3>\n

    \"Alkyl<\/a><\/p>\n

    Muted results.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Advance Enzymes<\/strong><\/h3>\n

    \"Advance<\/a><\/p>\n

    Good results, as guided by management earlier- growth is without compromising margins further.  <\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    10. Other<\/h2>\n

    Pidilite Industries<\/strong><\/h3>\n

    \"Pidilite<\/a><\/p>\n

    Good results on double digits volume growth in domestic business with rural markets growing faster than urban. <\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    PI Industries<\/strong><\/h3>\n

    \"PI<\/a><\/p>\n

    Good results, a company acquired a pharma business and ~3% of revenue contribution are from the same. <\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    PB Fintech (Policy Bazar)<\/strong><\/h3>\n

    \"PB<\/a><\/p>\n

    We remain watchful of an accelerated ramp-up in revenues and the company becoming PAT positive.  * Includes Policybazaar and Paisabazaar.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    CARE Ratings <\/strong><\/h3>\n

    \"CARE<\/a><\/p>\n

    Continued traction seen in other businesses. Good results with margins expected to improve.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Affle India<\/strong><\/h3>\n

    \"Affle<\/a><\/p>\n

    Steady results.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

     <\/p>\n

    Berger Paints India Ltd<\/strong><\/h3>\n

    \"Berger<\/a><\/p>\n

    A good set of numbers on all parameters, with market share gains in East, West India.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    The Ramco Cements Ltd<\/strong><\/h3>\n

    \"The<\/a><\/p>\n

    Muted numbers on account of a decrease in realisation\/ton and also volume hit by supply disruptions.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Whirlpool of India Ltd<\/strong><\/h3>\n

    \"Whirlpool<\/a><\/p>\n

    Subdued results. Elica has consistently demonstrated robust performance.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    La Opala RG Ltd<\/strong><\/h3>\n

    \"La<\/a><\/p>\n

    Good performance on all parameters.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Zee Entertainment Enterprises Ltd<\/strong><\/h3>\n

    \"Zee<\/a><\/p>\n

    Weak Numbers on account of overall ad revenue was down 3.6%. An increase in employee costs and publicity expenses leads to losses.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Data Pattern <\/strong><\/h3>\n

    \"Data<\/a><\/p>\n

    Steady results.<\/p>\n

    Check, 10-Year X-ray Now!<\/a><\/p>\n

    Best Stocks From<\/span>:<\/strong><\/p>\n

    All Weather Alpha Case<\/a>  Screener<\/a> Alpha Cases<\/a>  Business Houses Group<\/a><\/p>\n

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    *Disclaimer:<\/strong> The securities quoted are for illustration only and are not recommendatory<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

    Dear Readers, Welcome to our weekly company results 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.  Sector index […]<\/p>\n","protected":false},"author":15,"featured_media":19121,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"no","footnotes":""},"categories":[1166,1182],"tags":[1557,1530,1549,1526],"modified_by":"MoneyWorks4me","_links":{"self":[{"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/posts\/19119"}],"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=19119"}],"version-history":[{"count":0,"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/posts\/19119\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/media\/19121"}],"wp:attachment":[{"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/media?parent=19119"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/categories?post=19119"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/tags?post=19119"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}