HARSHA ENGINEERS Q3 HIGHLIGHTS
Subdued overall performance due to challenges in Europe, U.S., and modest India growth.
Engineering segment: Up 8.8% YoY, down 2.6% QoQ; margins slightly compressed.
Bronze Bushing: Strong growth; Japan, Stampings, and large Bearing Cages remain stable.
China: Weak Q3 due to year-end destocking but solid YTD performance.
Romania: Demand softness led to revenue decline and continued losses.
Overseas subsidiaries: YTD net loss at Rs. 11 crores.
Solar segment: Performing as expected with a healthy order book.
GOING FORWARD
Enhance market leadership in bearing cages and customer base expansion
Growing bronze bushings and specialised component segment
Increased focus on developing products suited to capture market opportunity in the growing EV segment
Retain and strengthen technological leadership through continued focus on development and automation
Focus on growth by partnerships with customers and opportunistic inorganic acquisitions
Focus on increasing operational efficiencies to improve returns
RASHI PERIPHERALS Says Will Revert To Double-digit Growth In Q4
Sales Via Quick Commerce Is Less Than 1%
Receivables Got Stretched To 49 Days But Will Revert To 45 Days In Coming Quarters
IPCA LAB Q3 HIGHLIGHTS
Standalone Net Total Income up 7% at Rs. 5089.28 crores.
Consolidated Net Total Income up 17% at Rs. 6759.88 crores.
Indian formulations income up 12% at Rs. 2691.05 crores.
Exports Income up 3% at Rs. 2034.67 crores.
Standalone EBITDA margin (before forex (gain) / loss, other income and exceptional items) @23.14% in FY25 as against @ 19.55% in FY24.
Consolidated EBITDA margin (before forex (gain) / loss, other income and exceptional items) @19.18% in FY25 as against @ 17.34% in FY24
EID PARRY Says We are a few weeks or a month away from the market finding its trough - ETNOW
The Budget and monetary policy have created a pivot towards growth
Money saved because of tax provisions will aid savings and consumption
Have not cut down on Overweight position on India
Post budget, the pivot to Consumption will bring FIIs back
EID PARRY Says We are a few weeks or a month away from the market finding its trough - ETNOW
The Budget and monetary policy have created a pivot towards growth
Money saved because of tax provisions will aid savings and consumption
Have not cut down on Overweight position on India
Post budget, the pivot to Consumption will bring FIIs back
EID PARRY Management Says Seeing lower yields, will see dip in sugar production - ETNOW
Sugar stocks are coming down on account of Lower crushing
Targeting FMCG to contribute higher than milling business by end of decade
Want to have high single digit EBITDA margins for FMCG business
LUPIN Management Says Going ahead, margins to be in the range of 22.5 to 23.5% for next year or two - ETNOW
For next 5 years, margins will be higher than current levels
In long term, will expect margin expansion due to new acquisitions
Ready for re-inspection on both Tarapur and Mandideep Unit-1 site
For Tarapur and Mandideep FDA approval should come sooner
There would likely be a re-inspection of the Biotech facility
Expect approval for Biotech facility in second of this upcoming fiscal
"Aspire to grow 20 to 30% ahead of market in India," says the management of Lupin (Vinita Gupta, Nikhil Gupta, Ramesh Swaminathan)
• For US markets, had strong growth in new products, in inline products and Mirabegron
Communities
• Have seen full impact of Mirabegron 25 & 50 mg in Q3
Premium
• Market share continues to grow in Mirabegron
• Aspire to grow 20 to 30% ahead of market in India
Profile
• Next year India should be back to double digit growth
More
Post
• Price erosion in base portfolio has been low single digit in this quarter
• Will maintain R&D spends at current levels
REPCO HOME Q3 HIGHLIGHTS.
Operating profits at Rs144.3 cr, up 5.5%QOQ
Provisions at Rs0.3 cr vs write back of Rs16cr QOQ
GNPA at Rs545.8 cr vs Rs552.4 crQOQ
NNPA at Rs208.6 cr vs Rs217 crQOQ
GNPA ratio at 3.86% vs 3.96% QOQ
NNPA ratio at 1.5% vs 1.6% QOQ
ROA at 3.1% vs 3.3% QOQ
NIM at 5.5% vs 5.1% QOQ
Disbursals at Rs761.3 cr, down 12.2% QOQ
Sanctions at Rs806.4cr, down 12.95%QOQ
AUM Rs14155.1 cr, up 1.37%QOQ
Ashok LEYLAND Management Says There Have been Some Delays In The Listing Of Hinduja Leyland Finance
Hopeful Of Listing Hinduja Leyland finance In Q1FY26
We Have Currently Orders Of More Than 1,800 Units For Switch Mobility
Confident & Optimistic About Growth Prospect Of Switch India
Money Will Be used For Growth & Also To Pare The Debt
Target Is To Become Positive At EBITDA Level For Switch India In 2-3 Qtrs - CNBCTV18
BHARAT FORGE Q3 HIGHLIGHTS
Q3 FY25 revenue at ₹20,959M declined due to weak EU demand and lower defense sales.
EBITDA margin held at 28.1% on a favorable mix.
PBT (before FX impact) at ₹4,530M, down 11.3% QoQ.
INDIA BIZ ; Automotive: CV demand slowed in 9M FY25 due to a high base and lower capex, but long-term outlook remains strong. PVs saw sharp YoY recovery; focus on partnerships for premium, safer vehicles.
Industrials: Q3 revenue at ₹5,126M, down due to lower defense sales. Despite slower capex, nuclear and space sectors offer long-term growth opportunities.
EXPORT BIZ ; Automotive: Export CV business steady; North America ( NA) stable, but EU and Asia weak. NA outlook improving, while EU remains uncertain. PV exports hit by weak EU recovery but supported by new orders.
Industrials: Growth across all verticals due to diversification. Aerospace set for strong traction in coming years.
Management Says Q3 FY25 revenue at ₹3,476 Cr (-10%), EBITDA at ₹638 Cr (-5%), hit by weak EU demand and defense business timing. Bharat Forge secured ₹830 Cr in new orders. Defense revenue at ₹337 Cr, with a ₹5,706 Cr order book.
On Aerospace: Investing in a machining line and ring mill for jet engine components, operational by FY27. Strong growth expected in 3-4 years.
On JS Auto: Q3 revenue up 20% to ₹166 Cr, EBITDA up 24% to ₹23 Cr. 9M FY25 orders at ₹183 Cr. Targeting ₹1,000 Cr revenue in 2-3 years.
BHARAT FORGE OUTLOOK; Looking ahead into Q4 FY25 & FY26, we expect the consolidated performance to be stable, as pockets of strength emerge from the newer businesses to offset the slowdown in the automotive sector globally.
We will undertake a thorough review of our manufacturing footprint of our overseas business with an endeavor to achieve operational stability in this challenging environment.
GRAPHITE Q3 : Managing Says Net Sales of Rs. 523 Cr (down 24.2%), EBITDA of Rs. 11 Cr, and Net Loss of Rs. 21 Cr due to lower sales. Standalone capacity utilization at 81%.
The company maintains a strong balance sheet with Rs. 3,928 Cr in cash.
Global steel demand diverges, with India seeing growth and China facing declines.
India's steel consumption grew 8% in 2024.
HITECH PIPES Q3 HIGHLIGHTS
Total sales volumes increased by 26% to 1.24 Lakh tonnes as compared to 0.98 Lakh tonnes in Q3FY24, led by increased demand for steel tubes/structural steel products.
EBITDA/ton at Rs.3,238/MT in Q3FY25 vs. Rs.3,205/MT in Q3FY24 is at par
ASHIANA HOUSING Q3 HIGHLIGHTS
Area Booked in Q3FY25 reached Rs 454.16 Crores, up from Rs 173.89 Crores in Q3FY24, though lower than Rs 672.54 Crores in Q2FY25.
The average realization price increased to Rs 6,705, compared to Rs 5,189 in Q3FY24.
EAC was 5.19 lakhs sq. ft., down from 6.01 lakhs sq. ft. in Q2FY25 due to restrictions in Delhi-NCR.
The company maintains its FY25 pre-sales guidance of Rs 2,000 Crores, depending on Ashiana Amarah Phase 5 bookings in Q4FY25.
The Chennai senior living project, 'Ashiana Swarang,' and other launches were completed.
Total revenue rose 135% to Rs 139.93 Crores, with PAT at Rs 10.89 Crores.
Pre-tax operating cash flow stood at Rs 120.42 Crores.
BIRLASOFT Says Expect Q4 To Be Muted As Furloughs Extended Into Month Of Jan - CNBCTV18
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BERGER PAINTS Q3 : Management Says Market conditions remained tough in Q3 with muted urban demand and slowdowns in key markets. Despite this, we achieved high single-digit volume growth and sequential improvements in both volume and value. The industrial segment showed signs of recovery, indicating a demand improvement cycle.
While volume grew, sales value declined due to prior price reductions and a shift to lower-value products. Profitability was impacted by price cuts, currency depreciation, and monomer cost increases. However, we saw strong growth in waterproofing, construction chemicals, and wood coatings, with industrial performance improving. Our net cash position and market share continued to strengthen.
PRINCE PIPE Q3 HIGHLIGHTS
■ Aquel by Prince
The bathware segment continues to steadily expand its footprint with an expanded presence of new showrooms across Goa, two in Jaipur, and Pune in addition to the earlier launched outlets in Hissar and New Delhi
Present across, North, West and South regions of India
Presence across more than 200 retail touchpoints as the product continues to make deep inroads into key tier 2 and tier 3 markets
Continues to build strong engagements across exhibitions and retailer meets conducted across India
■ The integrated manufacturing facility at Begusarai, Bihar is likely to be commissioned in Q4FY25
The plant will go onstream from Q1FY26 which will cater to rising demand in East India, a fast-growing market in the country
SANGHVI MOVERS Q3 HIGHLIGHTS
Estimated Capex for Q4 FY24-25: ~Rs. 150 Crores
Proposed to purchase additional 34 cranes of various capacities ranging from 110 ton to 800 ton during Q4 FY25, which are backed by firm long-term orders from various clients
VENUS PIPES Q3 HIGHLIGHTS
Strong Export Demand & Expansion Updates
Exports up 153% YoY, driven by U.S., Middle East & Africa; European demand remains strong.
Market acceptance grows, with key approvals in Oil & Gas, Power, and Engineering.
Phase 1 Capex: Stainless & titanium welded tubes (3,600 MTPA) on track for March 2025.
Fittings project to start in H1FY26.
Phase 2 Expansion: Seamless pipes/tubes (4,800 MTPA) to start by Dec 2025.
Piercing line capacity expansion (+4,800 MTPA) to strengthen manufacturing.
VENUS PIPES Q3 ; Co. Says Domestic sales remain weak due to low private & government capex; slowdown expected to continue.
Growth optimism driven by market share gains from unorganized players & new value-added products.
Exports tripled YoY, fueled by strong global demand & market expansion efforts.
KAVERI SEEDS Q3 HIGHLIGHTS
Rice and Maize continue to do well during the quarter
Increase in volumes in both selection, hybrid rice and maize had resulted in good growth rates on account of good realisations and passing of increased production cost
In spite of continuous disruption in exports, continue to maintain growth in our profits at both EBIDTA and PAT level
The contribution of new products to volumes of Bajra was up from 60% to 70%
Hybrid rice volumes increased by 14% and revenues increased by 27%
Selection rice volumes increased by 18% and revenues increased by 34%
Maize volumes increased by 8% and revenues increased by 25%
Vegetable seed sales volumes increased by 2%, whereas revenue increase by 3%
Export sales stands at Rs 18.23cr in Q3 FY25, as compared to Rs. 38.10 crore in Q3 FY24, this decline is due to political unrest in Bangladesh
Volumes of Non Cotton Hybrids increased by 23% and revenues increased by 31%
Volumes of Cotton Hybrid decreased by 47% and revenues Decreased by 40%
IIFL FINANCE Q3 HIGHLIGHTS
GNPA ratio at 2.42% vs 2.35%
NNPA ratio at 1% vs 1.1%
Operating profits at Rs534.3 cr, down 27%QOQ
AUM at Rs71410cr, Up 6.64%QOQ
Calculated NIM at 5.3% vs 5.95% QOQ
ROA at 0.6% vs -0.7% QOQ
SAHAJ SOLAR FUTURE GUIDANCE; 30 % Revenue Growth In 3 years CAGR
EBITDA Margin Of 12 % +
Butterfly should start growing double-digit next year onwards, expect 9-10% EBITDA margin going forward
Solar pumps orderbook is seeing strong growth
Kaleeswaran Arunachalam, Crompton to CNBC-TV18
If Q4 turns out as expected, we should end FY25 with more or less flat vs FY24, January is already behind us & we have seen 4-5% growth
Shenu Agarwal, Ashok Leyland to CNBC-TV18
Mr.Nikhil Chopra, CEO & Whole-Time Director of #JBPharma
💊 Will maintain an #EBITDA margin of 26-28% for FY25
💊 Aims to grow the CDMO biz to $100 m in the next 4 years vs $50 mn currently
https://youtu.be/qNzRnKMi1Cc?si=2RLeT1eqBqzl3y48
PFC Q3 : Loan growth continues to remain weak - CNBCTV18
Business Momentum
AUM at Rs503824 cr, up 2.12%QOQ
P&L momentum
NII at Rs4694.2 cr vs Rs4157.75 cr, up 12.9%YOY & vs Rs4408.3 cr, up 6.5%QOQ
Other income at Rs635.3 cr, up 21.5%YOY & down 51.4%QOQ
Opex at Rs175.7 cr, down 34.6%YOY & 54.5%QOQ
Operating profits at Rs5153.8 cr, up 16.8%YOY & down 3.3%QOQ
Provisions at Rs74.5 cr, down 262.6%YOY & vs write back of Rs124.1cr QOQ
BIRLASOFT Says Q4 will be soft but optimistic on prospects for FY26
Margins to head towards 15% in next 4 quarters
Cholamandalam CFO sees short term credit cost rise, but Q4 relief ahead
NPAs set to decline liquidity solid, and cost of funds to ease in Q1 & Q2 - NIMs looking up! 📉
IRCTC Q3 HIGHLIGHTS
Co. Reported all-time high revenue of INR 1225 crores
Internet Ticketing: Revenue of INR 353.72 crores, reflecting a 5.4% year-on-year growth. Margin remained strong at 84.7%.
Catering: Revenue rose to INR 554.81 crores, an increase of 15% quarter-on-quarter and 9% year-on-year. Margin declined to 12.19% due to low margins in the segment.
Tourism: Revenue reached INR 224 crores, marking an 80% quarter-on-quarter increase and a 16% increase year-on-year. This was driven by the operation of luxury trains like Maharaja Express and increasing business in the state tourism segment.
Rail Neer: Revenue of INR 92.3 crores, reflecting a 7% quarter-on-quarter increase and a 16% year-on-year increase.
Co. are exploring opportunities to enhance non-conventional sources of income beyond convenience fees in the internet ticketing segment.
In catering, they are focusing on creating infrastructure and a network of base kitchens to capitalize on the increasing demand for catering services.
In tourism, co. are expanding their luxury train offerings and capitalizing on the growing demand for domestic tourism.
BERGER Q3 ; Management Says Our Poland and Nepal operations performed well, with Nepal seeing a turnaround due to improved conditions.
Domestically, we inaugurated our new corporate office in Kolkata, shaped like a paint can, on Feb 10, 2025, with Dr. Shashi Panja in attendance. This facility reflects our confidence in the industry's growth.
We remain optimistic about demand, supported by favorable budget policies, infrastructure spending, and a good monsoon. The easing of price cuts also bodes well, and we look forward to launching innovative products and services soon.
BLS INT Q3 HIGHLIGHTS
The company's Revenue from Operations expanded by 17.1% YoY to Rs. 512.8 Crores in Q3FY25 from Rs. 437.9 Crores in Q3FY24.
Highest-ever Quarterly Revenue, at Rs. 512.8 Crores, up by 17.1% YoY
Company's EBITDA surged by 78.5% YoY to Rs. 158.1 Crores during the quarter as compared to Rs. 88.6 Crores in Q3FY24.
EBITDA Margin increased to 30.8% in Q3FY25 from 20.2% in Q3FY24. Margin expansion was enhanced by the ongoing transition from partner run to self-managed model and integration of newly acquired businesses.
PAT for the quarter scaled to Rs. 127.9 Crores as compared to Rs. 87.2 Crores reported in Q3FY24, a growth of 46.7% YoY.
Post acquisitions done in FY25, the company's net cash balance stood at Rs. 690 Crores as of 31st December 2024.
KEYSTONE REALTY Q3 HIGHLIGHTS
CO. achieves full-year F24 pre-sales in just 9MFY25
Pre-Sales grew 40% on YoY basis to INR 8.63 bn in Q3FY25
Added 6 projects having GDV of-INR 32.97 brn in YTD FY25
Launched 5 projects with a GDV of-INR 40.57 bn YTD FY25
Pre-Sales INR 8.63 bn (i.e. INR 863 Crores)
Collections - INR 5.42 bn (i.e. INR 542 Crores)
Operating Cash Flows - INR 0.84 bn (i.e. INR 84 Crores)
