MAHINDRA Says International Demand Is Weak Due To Macroeconomic Headwinds
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Alkem Lab Q3 : 9MFY25 EBITDA Margin At 21.6% Vs FY25 Guidance Of 18.5-19%
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BHARTI AIRTEL Q3 CONCALL
Towers Sale To Arm Indus Towers To Give Efficiency Of Scale
India Mobile ARPU Drivers Remain Intact
APOLLO TYRES Q3 HIGHLIGHTS
EUROPE BIZ : During the quarter, our volume growth in PCT segment were lower than overall Industry growth. However, more importantly, we outgrew industry in the profitable segments winter tyre segment and UHP segment.
Continuing with our premiumization journey, UHP mix for the quarter stood at 48%, compared to 43% for same quarter last year.
In the PCR OEM segment, we continue to gain fitments in the marquee German brands, supporting our premimisation journey.
Despite RM pressure (+4% YoY) reported 18% operating margins for the quarter (+290 bps QoQ/-260bps YoY).
Operating performance is expected to remain healthy with our constant focus on sales mix improvement and cost optimization
INDIA BIZ ; Registered good YoY growth in replacement segment revenues for key categories - TBR, PCR and Farm.
We gained market share in the PCR replacement segment and registered c. 45% growth (YoY) in the Vredestein volumes.
OEM segment volumes continued to be soft. CV OEM performance impacted by 1) decline in vehicle production and 2) unfavorable mix in CV segment (higher sales of buses etc).
Reported drop in EBITDA margin YoY and QoQ largely on account of steep raw material inflation (+15% YoY).
Co. will continue to focus on business fundamentals, cost control and free cash flow generation.
Net debt fell by ₹450 Cr in Dec’24 vs. Sep’24 due to lower short-term borrowings. Working capital normalized, and long-term debt saw a slight decline.
Thermax Says Q3 Was Weak, Below Our Expectations; We Are In-line For A Very Good Q4 - CNBCTV18
Thermax Says ₹500 Cr Miss On Rev, ₹60 Cr Miss On Profitability Due To Delays In Shipping Out Orders - CNBCTV18
Thermax Says ₹500 Cr Miss On Rev, ₹60 Cr Miss On Profitability Due To Delays In Shipping Out Orders
Few Orders Will Be Realised In Q4
FGD Projects & Bio CNG Projects Impacted Projects Biz
Invested Over 100 Cr, More Than Expected In Bio CNG Segment
THERMAX Says Expect Profitable Orders To Come In The Industrial Infra Segment
Private Capex Slowed down
Expect Profitable Orders To Come In The Industrial Infra Segment
Have Lost A Lot Of Money On Long-Duration Govt Projects
We Get A Lot Of Second Order Biz From The Govt
THERMAX Says Expect More Ordering Activity From Petrochem, Steel From Q4FY25 Onwards & In FY26
KOLTE PATIL
KOLTE PATIL: CO SIGNS 22 ACRES JOINT DEVELOPMENT PROJECT IN PUNE WITH THE EXPECTED GDV OF RUPEES 4,000 CR
INNOVA CAPTAB Q3
Jammu Plant started in Jan 2025
SBI Q3 HIGHLIGHTS
Net Profit for Q3FY25 stands at ₹16,891 crores registering a growth of 84.32% YoY.
Operating Profit for Q3FY25 grew by 15.81% YoY to 23,551 crores.
Bank's ROA and ROE for the 9MFY25 stand at 1.09% and 21.46% respectively.
ROA at 1.04% for the quarter increased by 42 bps YoY.
Net Interest Income (NII) for Q3FY25 increased by 4.09% YoY.
Whole Bank and Domestic NIM for 9MFY25 stand at 3.12% and 3.25% respectively.
Whole Bank and Domestic NIM for Q3FY25 stand at 3.01% and 3.15% respectively.
Balance Sheet
Credit growth at 13.49% YoY with Domestic Advances growing by 14.06 YoY. Gross Advances cross 40 Lakh crores.
Foreign Offices' Advances grew by 10.35% YoY.
SME Advances grew by 18.71% YoY followed by Agri Advances which grew by 15.31% YoY, while Corporate Advances and Retail Personal Advances registered YoY growth of 14.86% and 11.65% respectively.
Whole Bank Deposits grew at 9.81% YoY, out of which CASA Deposit grew by 4.46% YoY. CASA ratio stands at 39.20% as on 31st December 24.
SOLAR INDUSTRIES CUTS THE GUIDANCE
SOLAR INDUSTRIES: CO SAYS IN CONCALL EXPECT SALES VOLUME TO GROW 8 - 10% IN FY25 VS 15% EARLIER4
PAGE INDUSTRIES Q3
PAT growth 34.3%
VOLUME growth 4.7% only
IKS HEALTH Says Expect Q4 To Be Stronger Than Q3
Expect To Maintain EBITDA Margin In Mid-30% Level In FY26 & Onwards - CNBCTV18
ADANI ENT ; Adani Enterprises plans ₹30,000 crore capex for FY25, a third of earlier guidance. - FE
Earlier Guidance Was Rs 80000 Cr
SULA VINEYARD CEO Says FY26 ( Next Financial Year ) Will be Better Than Fy25
Will See Margin Improvement Starting Q4 Itself
SULA Vineyards Ceo Says due to Payment’s issue , We slowed down our sales in Telangana which hit Sales In Q3
Now those Issues Are Now Resolved
- CNBCTV18
Skipper Ltd
Order Book - 6,354 Cr, with 89% from domestic markets and 11% from exports
YTD Order Inflows - 3,743 Cr
Secured significant large domestic contracts from Power Grid Corp and private TSO
BALRAMPUR CHINI ; Board has approved higher capacity of PLA project optimised from 75,000 TPA to 80,000 Tonnes Per Annum (TPA) with a revision in the project's capital expenditure from 2,000 crores (which was based on conceptual planning) to 2,850 crores (gross).
The net capex of the project will be 1,750 crores post expected capital subsidy of ₹ 1,100 crores as per U.P. Government Scheme.
This higher investment is determined after detailed engineering including on account of increase in capacity of Plant from 75,000 TPA to 80,000 TPA with lower conversion cost.
The revised capex will be funded through a mix of ₹1,650 crores in debt and 21,200 crores from internal accruals.
Bharti Airtel Concall: Have cleared ₹35,500 cr of spectrum dues in last 6 quarters
These are the statements on India revenue, ARPU, DTH business and more
SOLAR IND ON RECENT ORDER WIN , Says Pinaka Order Is Worth ₹6,084 Cr, 80% Of Value Should Be Delivered In Next 8-9 Yrs
Pinaka Order Will Start Reflecting In Next Fiscal
Should Be Doing ₹500 Cr/Yr FY27 Onwards From Pinaka
SolarInd expects FY26 revenue growth to be higher than FY25, for FY26 growth is seen at 30% vs 23% expected in FY25
Margin Is Seen In The Range Of 27-28% Going Forward
MOTHERSON WIRING Says 3 New Plants Can Do Revenue Of ₹2,100 Cr At Peak Potential
Will Continue To Target >40% ROCE
Expanding In-line With End Customer Expansion
PI IND CUTS FY25 REVENUE GUIDANCE AGAIN , NOW EXPECTING LOW SINGLE DIGIT GROWTH V EARLIER HIGH SINGLE DIGIT GROWT
NOTE ; LAST YEAR CO. GAVE GUIDANCE OF 18-20 % REVENUE GROWTH FOR FY25 ... WHICH CO. REDUCED TO LOW SINGLE DIGIT ( 1-4 % RANGE )
PG ELECTROPLAST Q3
OUTLOOK
Product business to drive growth for the company
Company is developing new
offerings in focus segments and will be launching the same in coming quarters
Company’s management see exciting times ahead for all its business segments.
For PGEL Consolidated Revenue guidance is of at least INR 4550 crores which is a growth of 65.7% over FY2024 Revenues of INR 2746.5 crores. This is despite TV business revenues shifting to JV company Goodworth Electronics Ltd.
For Goodworth, Revenues we expect at INR 550 crores.
Implying Group Revenues to be around 5100 crores.
PGEL Net profit guidance of INR 280 crores which is a growth of 104.5% over FY2024 Net profit of INR 137 crores.
In FY2025, Management expects EBITDA margins to have slight upward bias.
PG ELECTROPLAST Q3
OUTLOOK
Product business to drive growth for the company
Company is developing new
offerings in focus segments and will be launching the same in coming quarters
Company’s management see exciting times ahead for all its business segments.
For PGEL Consolidated Revenue guidance is of at least INR 4550 crores which is a growth of 65.7% over FY2024 Revenues of INR 2746.5 crores. This is despite TV business revenues shifting to JV company Goodworth Electronics Ltd.
For Goodworth, Revenues we expect at INR 550 crores.
Implying Group Revenues to be around 5100 crores.
PGEL Net profit guidance of INR 280 crores which is a growth of 104.5% over FY2024 Net profit of INR 137 crores.
In FY2025, Management expects EBITDA margins to have slight upward bias.
🚀 India’s Solar Boom: A 5X Expansion! ☀️🔋
Solar cell manufacturing is set to grow 5X to 50-55 GW by FY27, backed by ₹28,000-30,000 Cr capex & policy support like PLI & ALMM.
With 80% of solar cells still imported, this expansion will boost self-reliance & backward integration.
Solar companies in focus: Waaree Energies, Premier Energies & Insolation Energy.
📌 CRISIL report on solar cell capacity sheds light on this massive transformation!
Massive Expansion Ahead
India’s solar cell capacity is projected to reach 50-55 GW by FY27, up from 10 GW in FY24. This ₹28,000-30,000 Cr investment will be funded with a 70:30 debt-equity mix. 📈
Policy Push Fuels Growth
Govt initiatives like PLI (Production-Linked Incentive) & ALMM (Approved List of Models & Manufacturers) are driving expansion. The 'Make in India' push is further boosting domestic solar cell production. 🇮🇳⚡️
Reducing Import Dependence
India still imports ~80% of its solar cells, mainly from China. While module imports have dropped to 25%, high import dependence for cells remains a challenge. 🏭🔻
Backward Integration Key
More module makers are setting up in-house cell production, reducing reliance on imports. Currently, only 15% of domestic module capacity is supported by local cells—this will cross 50% by FY27. 🔄🔋
Financial Viability & Challenges
Despite high capex, credit quality remains stable due to strong balance sheets & robust margins. However, domestic solar cells are 80-90% costlier than imports, due to lower scale & higher conversion costs. 📊💰
Future Outlook
- 60-65 GW of new solar capacity expected by FY27.
- ALMM & PLI to keep demand strong.
- US trade policy shifts & China’s wafer supply disruptions will impact prices. 🌍⚡️
PVR Says Do Not Think Q4 Will Be As Good As Q3, But Have A Exciting Pipeline Ahead
2024 Was Not A Very Good Yr In Terms Of Content, 2025 Will Have Better Occupancy Levels - CNBCTV18
Welspun recovers from days low post concall!
💪 Current Order book is in excess of Rs 15000cr. Next 2-3 years demand remains strong across geographies from multiple projects
💪 Strong Pipeline
India DI plant is booked for next 5 quarters & India LSAW plant is booked for 1 year
US plant is booked for 6-7 quarters
Targets
👉 Annualised ROCE runrate is maintained at 20%+
👉 Net Debt/EBITDA currently at 0.06x, will not exceed 0.5x
🪈 In plastic pipes, co is targeting 5-6% market share
Sula Vineyards hits 52 week low on a weak show in Q3FY25 but management believes things will get better from here on
🍷 FY26 will be better than FY25
🕺 Sulafest was a hit in Feb 2025
🍷 Margins have bottomed in Q3FY25
SWIGGY Says Q4 Will See Good Growth In Store Additions & Revenue For Quick Commerce
Will Grow 18-22% In Food GOV Sustainably
Continue To Add Users On The Platform
Bolt Contributes 9% Το Volumes
Portfolio Contribution Margin Improved By 80 bps Led By Food Delivery
Quick Commerce Biz Growth Improved QoQ, Added 86 Dark Stores In January
CO WILL BE EBITDA POSITIVE BY Q3FY26 : INTERVIEW
- CNBCTV18
Portfolio contribution margin improved by 80 bps led by food delivery, quick commerce biz growth improved QoQ, added 86 dark stores in January.
Q4 will see good growth in store additions & revenue for quick commerce, says Rahul Bothra, Swiggy
WELSPUN CORP 9 MONTH PERFORMANCE V FY25 GUIDANCE
REVENUE AT 10,200 CR V 17000 CR GUIDANCE
EBITDA AT 1356 CR V 17000 CR GUIDANCE
ROCE AT 15 % V 20 % GUIDANCE
Senores Pharma
FY 24- Revenue - 215 cr
FY 25 ( Expected)- 410-440 cr
Fy 26 ( Expected)- 670-700 cr
