SAMVARDHANA MOTHERSON Q3 HIGHLIGHTS
WIRING BIZ
Steady revenus performance despite demand related challenges in CV Industry specially in Europe and North America
Continued revenue growth over market in Indis implying strong contant growth
Operational improvements and cost control actions enabled further Improvement in profitability
MODULES BIZ
Achieved double digit growth in revenues (on a YoY besis) despite decline in automotive production across key geographies
While new businesses added to the size and scale, existing businesses continue to show content growth driven by automotive mega trends
Diversified business model enabled a resilient profitability performance despite a challenging production environment.
TITAGARH RAIL Q3 HIGHLIGHTS
Sale of wagons to IR was impacted in the current quarter due to inadequate supply of wheelsets from the Rail wheel factory. Due to this the customer has also extended the delivery period
Currently we are in design phase of the orders currently being executed, impacting the revenue numbers. There shall be a uptake in revenue as we start production & deliveries.
Rolled out its first stainless steel metro train set for Bangalore metro on Jan 6, 2025
Production of traction motor ramped up to 100 units per month
HINDALCO Management Says In 2018, US ultimately signed with Canada as dependency was very high - CNBCTV18
Expect Indian aluminum Q4FY25 EBITDA/tonne at $1,450/tonne
Copper EBITDA/quarter will stabilise at ₹600-650 cr as new TCRC are much lower
Novelis EBITDA/tonne will move to $600/tonne in the longer term
SENCO Gold Says Q3FY25 hit of 70cr due tp hedging & custom duty
Guidance
FY25 : Revenue +18%-20%, margins at 7%
FY26 : Revenue +18%-20%, Margins at 7.5% with PAT at Rs.300cr
UBL Q3 HIGHLIGHTS
Volume Growth In Q3 at 8%
Premium Volumes Up 33%, Gained Share In The Quarter
Started productivity program to save 50 Cr annually
10% revenue growth in a seasonally weak quarter
Lower EBITDA on account of 90 Bps dip in Gross Margins and Investments in supply chain ahead of peak season
SAVITA OIL Q3 : Management Says In Q3 FY25, the company reported Rs 952 crore in income with single-digit YoY volume growth.
PBT stood at Rs 15.1 crore despite lower crude prices and global challenges. Lubricant sales grew in double digits, while Transformer oil saw high single-digit growth.
White & Mineral Oils demand was muted but expected to recover. DEF volumes rose 58% YoY.
The company continues investing in Savsol Ester 5 for automotive lubricants, focusing on product development and brand-building.
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.
SAMVARDHANA MOTHERSON Q3 HIGHLIGHTS
YoY Growth in revenues and profitability despite global automotive production de-growth, Resilient performance contributed by a diversified business model.
1st plant for Consumer Electronics business operational in Q3 FY 2025. Currently in ramp-up mode; 2 other plants for consumer electronics business on track for SOPs in FY 26 and FY 27
Continued deleveraging journey with Leverage at 0.9x; Strongest balance sheet in recent years to support growth ambitions and cushion against volatilities
Controlled capital expenditure aligned with evolving market dynamics. Further reduced capex guidance by 500 crores to 4,500 crores +/-5%
2 new Acquisitions announced during Q3: Atsumitec and Baldi Auto to enable further diversification and vertical integration
Formed 2 new Joint Ventures with Sanko, Japan and Matsui, Japan, Strengthening packaging business under logistics solutions business division and process and industrial automation
Empanelled across Airbus product portfolio Became Tier-1 supplier to Airbus Commercial aircraft; Already Tier-1 for Helicopters and Space
MANAPPURAM FINANCE Says Provisions will moderate going forward - ETNOW
Overall micro finance industry is facing challenges
Hope that micro finance industry will improve going forward
We feel it is not appropriate time to list Asirvad to D-Street, it will be delayed
Expect 12% growth in gold loan annually
Trump’s proposed tariffs is a net positive for Novelis/Hindalco. Expect Indian aluminium Q4FY25 EBITDA/tonne at $1,450/tonne
Satish Pai, Hindalco to CNBC-TV18
Anupam Rasayan Says Q4 Will Be Good, But H1 Was Weak For Us
FY26 Margin Will Be Stable
FY25 Margin Is In The Range Of 26-28%
Saw Good Recovery In Agrochem Business
FY26 Will See 30-35% Growth - CNBCTV18
SENCO GOLD Q3 HIGHLIGHTS
Higher material cost led to the miss in operational performance
Annual outlook of adding 18-20 stores, including 10-12
SAVITA OIL Q3 HIGHLIGHTS
Double digit volume growth in both the Industrial and Automotive segments of the Lubricant Division.
Transformer oil volume also grew by high single digit on YoY basis.
Focus remains on building the newly launched Savsol Ester5 Brand and augmenting its distribution penetration, which will see increased marketing spends.
Margins impacted by fall in crude oil prices and forex impact (rupee depreciation) on inventory holdings.
International business has started showing improvement in December 24 in demand, although Q3 largely was impacted by escalated freights and limited frequency on routes.
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
