GlenmarkPharma Says: From Concall👇
👉Maintain FY25 guidance for both revenue & margin
👉9MFY25 margin at 18%, will achieve FY25 guidance of 19%
👉FY26 margin will see an improvement of 1-1.5%
👉Will meet our guidance of FY25 domestic rev growth of 9-10%
👉None of the pending filings is from Indore unit which received observations
Guidance:
🎯 ARPOB: Expect ARPOB to be sustainable above 60,000 rupees.
Anticipate 4-5% growth in ARPOB going forward.
🎯 Apollo Health and Lifestyle: Break-even at the net level expected by Q1 FY26.
Target sustainable margins of 15%.
🎯 Apollo HealthCo: Expect margins to reach 7% in three years.
🎯 Apollo 24x7: GMV to reach 3 to 3500 crore.
🎯 Corporate Restructuring: Integration to be completed in three years.
🎯 Apollo 24x7: Emphasis on profitability over excessive growth.
💡 Stock Name : Apollo Hospitals Enterprise Ltd
Guidance:
🎯 Edible Oil: Expect to maintain around a 4% EBITDA margin. Expect to maintain roughly 10% market share.
🎯Home and Personal Care (HPC): Projected revenue of approximately 900 crore for the current fiscal year (for 5 months of operation).
🎯 Projected revenue of 3,000 to 3,200 crore for the next fiscal year. Expect margins to improve to 18% in the next quarter.
🎯 Non-Oil Business: Target of reaching 50% of revenue from non-edible oil products within four years.
Projecting to end the current fiscal year with a 10% margin in the food sector.
💡 Stock Name : Patanjali Foods Ltd
HEALTHCARE GLOBAL Q3 ; CEO Says Oncology business grew 24% post-MG hospital acquisition.
Kolkata center up 40%, South Bombay up 28%, with recovery expected in international business next quarter. MG Vizag consolidation strengthens regional presence.
HCG focuses on asset-light expansion, advanced tech, and patient-centric cancer care.
HEALTHCARE GLOBAL Q3 HIGHLIGHTS
Overall ARPOB stood at Rs. 44,284 vs. Rs. 42,788 in Q3FY24, a growth of 3.5%
Overall AOR stood at 62.1% vs. 59.8% in Q3FY24
Markets like Kolkata and Nashik grew by 40% and 29% YoY respectively
Nagpur& South Mumbai 28% & Ahmedabad grew by 26% YoY
BOROSIL RENEWABLES Q3 HIGHLIGHTS
Sales Growth: Revenue up 3.6% QoQ to ₹275.28 Cr, driven by 14% volume growth despite a 9% drop in selling prices.
EBITDA fell to ₹20.89 Cr (vs. ₹52.88 Cr in Q2FY25), impacted by lower glass prices, freight costs, and non-routine expenses.
Export Decline: Exports dropped to ₹16.02 Cr (6% of revenue) vs. ₹34.39 Cr (13%) in Q2FY25 due to weak demand and Chinese imports.
Net Loss: ₹8.64 Cr loss vs. ₹12.62 Cr profit in Q2FY25 and ₹11.04 Cr loss in Q3FY24.
9MFY25 Performance: Sales up 2.6% YoY to ₹782.71 Cr. EBITDA steady at ₹103.48 Cr (vs. ₹105.81 Cr in 9MFY24).
Exports Weak: Down to ₹72.84 Cr (9% of turnover) vs. ₹186.23 Cr (24%) in 9MFY24 due to Chinese competition.
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
Guidance:
🎯 Q4 Growth: The company expects low double-digit revenue growth in Q4.
🎯 Receivable Days: Receivable days are expected to return to the 40-45 day range.
🎯 Future Inorganic Growth: The company plans to continue to make inorganic growth moves in sectors that they are currently not operating in.
🎯 Quick Commerce Growth: The quick commerce sector is expected to grow exponentially, but the exact amount is unknown.
🎯 Q1 growth: Q1 growth should be lower double digit growth.
🎯 F26 margin range: The commentary mentions margin guidance for F26, but the actual numbers were not provided in the transcript.
💡 Stock Name : Rashi Peripherals Ltd
Guidance:
🎯 Expectation of Increased Global Orders: The management expressed hopefulness about expanding order inflow from international regions, suggesting potential future growth.
🎯 Continued Focus on Domestic Projects: They indicate they will continue to work on multiple domestic projects.
🎯 Continued focus on operational efficiencies: They have, and will continue to work on operational efficiencies to improve margins.
💡 Stock Name : Engineers India Ltd
Guidance:
🎯 Revenue Growth (FY25): Approximately 30%.
🎯 EBITDA Margin (FY25): 12-12.5%.
🎯PAT Margin (FY25): 5.9-6%.
🎯 Order Intake (FY25): 7,000-7,500 crore.
🎯 Order Book (End of FY25): Approximately 16,500 crore.
🎯 EBITDA Margin(International orders): 12.5% to 13.5%
🎯 EBITDA Margin(Domestic orders): 10.5% to 11%
🎯 FY26 growth: 25 to 30% top line growth.
💡 Stock Name : Transrail Lighting Ltd
HEALTHCARE GLOBAL Q3 HIGHLIGHTS
First CAR-T cell therapy completed successfully done at HCG Jaipur
Successful completion of first course on Managing Tumours of Infratemporal Fossa in HCG Aastha Cancer Centre, Ahmedabad
Best Oral Presentation by Dr Yash Jain, Department of Nuclear Medicine, at ARCCNM conference in Seoul, South Korea.
Dr Indoo Ammbulkar from HCG Borivali had authored the chapter on Leukaemia in the textbook of Principles and Practices of Geriatric Medicine 2025
Dr Trinanjan Basu from HCG Borivali has published in the International Geriatric
Radiotherapy Group publications titled "SBRT + Immunotherapy in Geriatric Cohorts"
Head and Neck Oncology Department of HCG Aastha Cancer Center and HCG Bangalore along with Department of Molecular Genomics Completed Thyropredict trial is completed.
Novel Yittrium Radiogel study commences with recruitment of first five patients
MOTILAL OSWAL ON Q3 RESULT SEASON
Modest Growth: Nifty-50 up 5% YoY, single-digit PAT growth for the 3rd straight quarter. MOFSL Universe earnings +6% YoY (vs. est. +7%).
Downgrades: Worst downgrade ratio since Q1FY21 (0.3x). 44% of companies missed estimates, 28% beat.
Slowing PAT Growth: Nifty-50 PAT up 4% in 9MFY25 (vs. 20%+ CAGR FY20-24). FY26 EPS cut by 1.4%, FY27E by 1.8%.
Valuations: Nifty trades at 19.3x forward P/E (below LPA of 20.5x). FY27E P/E at 16.7x vs. peak of 19.1x.
BOROSIL RENEWABLES Q3 ; GERMAN BIZ UPDATE
Operations: Running a 350 TPD furnace in Tschernitz, Germany, with two production lines.
Losses (H1FY25): Due to low demand, lower prices, and reduced production.
Reasons for Cooldown:
Solar module dumping from Southeast Asia.
Lack of government support for domestic manufacturing.
Sluggish EU market and cash flow challenges.
Operational Changes:
Temporary furnace cooldown (Jan 2025) with a potential restart when demand recovers.
Cold-end operations continue for pending orders with a minimal workforce.
Employees on short-time work (30% salary).
Situation to be reviewed post-Germany elections (Feb 2025).
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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.
