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Informist, Monday, Jul 15, 2024

 

By Anshul Choudhary 

 

MUMBAI – High profit growth momentum of most companies in the Nifty 200 index is likely to have slowed down during the June quarter as benefits of lower raw material prices have faded away at the time when India Inc is struggling to increase revenue as demand in several sectors is either weak or slowing down. The cumulative net profit of 173 companies in the Nifty 200 index is expected to rise 1% on year during the June quarter, showed estimates given by 19 brokerages.

 

This is strikingly lower than the net profit growth of nearly 49% in the June quarter of the previous year, and 13% rise in Jan-Mar. Estimates for 21 companies were not available, while six companies that have already reported Apr-Jun earnings till today have been excluded as well.

 

This sharp slow down comes as benefits of low-cost inventories have faded, and raw material prices have started rising in some sectors. Due to this, Anand Rathi Share and Stock Brokers expects only modest gains in the overall margins of Indian companies. "...product mixes, operational efficiencies and calibrated pricing in specific segments (excluding FMCG) are expected to have driven margin growth, though slower," the brokerage said.

With a slowdown expected in margin growth, all eyes now are on revenue growth. Analysts said revenue growth becomes imperative this year in order to drive profitability. However, companies have found it difficult to significantly grow their revenues for some time now, which is seen as a risk to earnings estimate. "With margin tailwinds fading, top line needs to recover (signs not yet visible); else there could be risks to FY24-26 consensus EPS (earnings per share) growth forecasts of 15-16%," Nuvama Institutional Equities iterated in its earnings preview report.

 

During the June quarter, apart from slowing demand, extreme weather played its part in the moderation of growth as heatwaves impacted construction activity, largely visible in the muted earnings of cement companies and other materials-related players. Further, the model code of conduct put in place ahead of the General Election also led to drying up of government orders at a time when private players were not increasing their capital expenditure.

 

What's more, global demand remains lacklusture, which has continued to impact many export-dependent companies. High interest rates have been a deterrent for companies globally, who remain on the sidelines in terms of spending and await improvement in and microeconomic fundamentals. At the same time, high inflation continues to impact people's spending power.

 

A confluence of these factors has likely led to muted revenue growth in some of the major sectors such as information technology, fast-moving consumer goods, metal, cement, and chemicals. The cumulative revenue of 173 companies that are a part of the Nifty 200 index is expected to rise 6% on the year during the June quarter. Sequentially, the topline is seen declining 3% while the profit after tax may fall 11%. 

 

However, some sectors will continue to post strong earnings growth as they reap the benefit of the resilience of the domestic economy. Automobile sales remained strong during the quarter, while healthy execution helped consumer goods companies even as government orders slowed down, and pharmaceutical companies were among the few that witnessed healthy demand in India as well as some global markets. Although heatwaves impacted construction activity in India, it helped increase sales of cold beverages and consumer durables such as air conditioners.

 

Going forward, the Union Budget on Jul 23 and monsoon rains remain a key focus for market participants. A normal monsoon is expected to help farmers increase their income, which, in turn, may boost consumption in rural India. For the Budget, it is widely expected that the government will continue with its plans of capital expenditure, which is likely to bring higher earnings growth for companies in the remaining part of this year.

 

SECTORAL TRENDS

Automobile companies remain among top performers in terms of earnings growth with two-wheelers and auto ancillaries driving growth this quarter. Price increases and higher mix towards premium products have likely aided earnings, analysts said.

 

However, experts see weakness in sales of commercial vehicles, passenger vehicles, and tractors, looking at poor dispatch numbers. Analysts were worried about passenger vehicles segment with YES Securities mentioning that average inventory has increased to 5-6 weeks as of Jun 30 and discounts have ballooned up to 20-25%.  

 

Analysts are expecting some moderation in earnings growth for the sector with brokerage Nomura Financial Advisory and Securities mentioning that sales data in June was on the softer side. "While the impact of rising input costs is likely to be visible for OEMs (original equipment manufacturers) from 2Q (Jul-Sep) onwards, tyre companies are expected to face this adverse impact in 1Q (Apr-Jun) itself, with the major impact likely in 2Q," Motilal Oswal Financial Services said in its earnings preview report.

 

Another sector that will continue to see moderation in earnings growth is banking, where net interest margin is expected to continue to decline. "We expect banks to report 10-15 bps decline in NIMs (net interest margins) led by re-pricing of deposits or slippages that tend to be seasonal in nature," Kotak Insitutional Equities said in a note. While robust credit growth is aiding earnings growth, deposit growth remains a challenge. Analysts said commentary on deposit growth is important, along with outlook on asset quality.

 

The combined net interest income of 17 banks is seen 12% higher and the net profit is expected to rise 15% on year. When compared on quarter, net interest income may rise 2% but profit after tax could fall 5%. Estimates of IDBI Bank were not available.

 

Among domestic cyclicals, engineering and capital goods companies will see robust growth on strong execution of order book. The six engineering and capital goods companies that are a part of the Nifty 200 index are seen posting a 26% on-year rise in net profit and 10% growth in revenue.

 

Further, high temperatures during the quarter pushed consumers to buy air conditioners, fans, and refrigerators, with premium products sales outpacing entry level product sales, YES Securities said. In this segment, Voltas is likely to report a 90% rise in net profit and a 33% growth in revenue as compared to the previous year. This strong traction in urban demand is likely to help several other companies whose focus is on India’s major cities, such as hotels, retail and real estate segments, which are expected to post strong earnings this quarter.

 

Pharmaceutical companies will witness a strong quarter with its 16 constituents on the Nifty 200 index likely to report an aggregate net profit growth of 21% on year, while revenue growth is seen at 11%. Sequentially, net profit may rise nearly 7%, and revenue may report 5% growth.

 

Earnings of pharmaceutical companies are seen strong as prices of generics in the US are stable. For domestic-driven companies in the sector, healthy growth is seen in dermatology and ophthalmology therapies, said YES Securities. Apart from this, three constituents of the index that run hospitals across India may report on-year profit growth of 43%, on a net sales growth of 19%.

 

Information technology companies are expected to report better sequential growth as Apr-Jun is seasonally strong. During the quarter, Kotak Equities witnessed lower cuts in discretionary spending, especially in the financial services segment. Tata Consultancy Services, which reported Apr-Jun results on Thursday, witnessed a quarter-on-quarter rise in sales in the banking, financial services, and insurance segment after two straight quarters of decline, according to Nirmal Bang Institutional Equities.

 

Although, a slight uptick is expected for IT companies, the overall earnings are still expected to be muted. The combined sales of 12 IT companies is seen 4% higher and the net profit is expected to rise 10% on year. When compared on quarter, their combined sales may rise 2%, and net profit may fall 7%. TCS, HCL Technologies, and Tata Elxsi have already reported their Apr-Jun earnings.

 

Meanwhile, weak consumption is likely to impact earnings of fast-moving consumer goods companies, which are struggling to grow their volumes. The combined net profit of 13 FMCG companies is expected to rise 10% on year and revenue growth is seen at 3%.

 

Among some of the other laggards, oil companies will report lower net profits owing to the fall in gross refining margins. However, city gas distribution companies are likely to report volume growth after these took price cuts during the quarter, Nuvama Institutional Equities said. Overall, the combined net profit of 10 oil and gas companies on the Nifty 200 index is likely to decline 39% on year and revenue is seen growing 5%.

 

Following are the Apr-Jun consensus earnings estimates of companies that constitute the National Stock Exchange's Nifty 200 index. These estimates are based on reports compiled by Informist Media from 19 brokerage houses.

 

Company name	Sales	PAT	Sales	PAT	Sales	PAT	EBITDA  (million rupees)	Result date	Number of brokerages polled
	------Average-------		-----(Y-o-Y)-----		-----(Q-o-Q)-----
	-----million rupees-----		--------------% Change--------------
AUTO
Apollo Tyres +	63,594	3,945	1.84	(0.61)	1.62	11.41	10,099	--	--
Ashok Leyland	87,926	5,958	7.37	3.35	(21.96)	(33.84)	10,159	--	9
Bajaj Auto	117,403	19,575	13.88	17.58	2.23	1.11	23,511	Jul 16	11
Balkrishna Industries	25,926	4,034	22.29	29.18	(3.01)	(16.10)	6,826	--	7
Bharat Forge	30,746	3,543	44.53	13.75	32.04	(9.06)	6,724	--	8
Bosch	42,693	5,072	2.67	24.01	0.85	(10.15)	5,800	Aug 6	3
Eicher Motors +	42,345	10,074	6.23	9.70	(0.51)	(5.89)	11,302	--	11
Escorts Kubota	22,961	2,777	(1.36)	(1.80)	10.26	14.72	3,184	--	8
Hero MotoCorp	104,846	11,958	19.59	45.00	10.14	17.69	15,667	--	10
M&M	281,656	27,570	15.58	(0.60)	10.73	35.27	39,195	Jul 31	10
Maruti Suzuki	347,253	32,420	7.42	30.46	(9.18)	(16.40)	39,510	Jul 31	11
MRF	66,911	4,688	5.82	(19.37)	7.66	23.51	10,161	--	4
Samvardhana Motherson International +	283,145	9,395	26.05	56.36	4.64	(31.51)	27,398	--	6
Sona Blw Precision Forgings +	8,743	1,420	19.41	26.71	(1.24)	(4.52)	2,452	Jul 24	5
Tata Motors +	1,089,271	55,483	6.52	73.23	(9.22)	(68.13)	149,390	Aug 1	9
Tube Investments of India +	20,321	1,649	(47.86)	(23.26)	(54.74)	(13.00)	2,349	--	1
TVS Motor Co	84,148	5,791	16.58	23.82	3.01	19.29	9,621	Aug 6	12
Total	2,719,889	205,352	9.75	27.27	(4.42)	(37.49)
Airports and Aviation
Interglobe Aviation	182,565	20,014	9.43	(35.17)	2.42	5.68	43,123	--	7
GMR Airports Infrastructure +	24,408	(3,121)	20.97	N.A.	(0.24)	N.A.	8,707	--	1
Total	206,973	16,893	10.68	(44.75)	2.10	(4.72)
BANK
AU Small Finance Bank*	18,545	4,970	48.81	28.46	38.70	34.06	N.A.	--	8
AXIS Bank*	133,213	64,652	11.39	11.52	1.77	(9.32)	N.A.	Jul 24	12
Bandhan Bank*	28,936	7,992	16.18	10.84	0.95	1,363.03	N.A.	--	9
Bank of Baroda*	117,231	45,423	6.61	11.60	(0.59)	(7.04)	N.A.	--	11
Bank Of India*	60,250	18,000	1.88	16.05	1.50	25.09	N.A.	--	1
Canara Bank*	94,652	39,554	9.23	11.90	(1.20)	5.27	N.A.	--	3
Federal Bank*	22,811	9,585	18.89	12.27	3.92	5.76	N.A.	--	12
HDFC Bank*	295,713	157,524	25.31	31.80	1.70	(4.60)	N.A.	Jul 20	13
ICICI Bank*	196,194	106,039	7.64	9.91	2.76	(0.97)	N.A.	Jul 27	13
IDFC First Bank*	47,030	7,051	25.58	(7.85)	5.24	(2.66)	N.A.	Jul 27	6
Indian Bank *	62,087	23,438	8.86	37.16	3.21	4.31	N.A.	--	4
IndusInd Bank*	55,947	23,296	14.95	9.70	4.06	(0.73)	N.A.	--	11
Kotak Mahindra*	70,638	36,734	13.32	6.40	2.24	(11.13)	N.A.	Jul 20	11
IDBI Bank*	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	--	--
Punjab National Bank*	105,536	30,129	11.04	139.99	1.84	0.09	N.A.	--	5
SBI*	423,535	168,803	8.86	(0.02)	1.68	(18.45)	N.A.	--	12
Union Bank Of India*	94,443	36,476	6.84	12.71	0.08	10.18	N.A.	Jul 19	5
YES Bank*	21,898	3,812	9.51	11.28	1.71	(15.65)	N.A.	Jul 20	4
Total	1,848,657	783,477	12.17	14.74	1.94	(5.25)
CEMENT
ACC +	50,347	4,203	(3.20)	(9.83)	(6.91)	(55.51)	7,456	--	13
Ambuja Cements	47,218	5,228	(0.17)	(18.93)	(1.23)	(1.78)	7,757	--	9
Dalmia Bharat +	35,806	1,335	(1.20)	2.73	(16.87)	(57.60)	5,640	Jul 18	11
Grasim Industries	73,120	1,519	17.23	(57.25)	8.05	(65.56)	5,404	--	4
Shree Cement	50,337	5,585	0.69	(3.90)	(1.32)	(15.61)	11,640	Aug 6	14
UltraTech Cement +	180,934	17,827	2.01	5.58	(11.39)	(21.05)	33,653	Jul 19	13
Total	437,762	35,697	2.93	(7.66)	(6.43)	(30.72)
CHEMICAL
Asian Paints +	91,935	14,118	0.12	(8.94)	5.30	12.34	19,876	Jul 17	9
Astral +	15,134	1,558	17.95	30.08	(6.88)	(14.19)	2,584	--	5
Berger Paints India +	31,089	3,362	2.62	(5.11)	23.35	51.39	5,330	Aug 9	5
Deepak Nitrite	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	--	--
Fertilisers and Chemicals Travancore	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	--	--
PI Industries	21,147	4,130	15.61	4.47	30.03	7.43	5,562	--	8
Pidilite Industries +	34,864	5,271	6.45	12.59	20.14	75.36	7,894	--	5
SRF +	33,911	3,308	1.58	(7.92)	(5.00)	(21.64)	6,914	--	10
Tata Chemicals +	39,796	1,808	(5.65)	(66.02)	14.52	N.A.	6,177	--	2
UPL +	88,899	(3,318)	(0.82)	N.A.	(36.85)	N.A.	12,140	--	6
Total	356,773	30,237	1.59	(23.36)	(7.40)	54.46
CONSUMER ELECTRICAL
Voltas +	44,785	2,458	33.30	90.09	6.56	111.07	3,332	--	9
Total	44,785	2,458	33.30	90.09	6.56	111.07
DEFENCE
Bharat Dynamics	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	--	--
Hindustan Aeronautics	46,160	9,116	17.90	11.96	(68.74)	(78.76)	9,735	--	2
Mazagon Dock Shipbuilders  +	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	--	--
Total	46,160	9,116	17.90	11.96	(68.74)	(78.76)
DIVERSIFIED
Adani Enterprises +	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	--	--
Total	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.
ELECTRICAL
ABB India	31,163	4,363	12.53	20.25	1.17	(5.00)	5,325	Aug 8	5
Bharat Electronics	39,124	6,890	11.44	29.80	(54.13)	(61.37)	8,637	Jul 29	5
Dixon Technologies (India) +	57,297	1,202	75.14	74.72	23.01	26.34	2,271	--	5
Havells India	55,678	4,059	15.43	41.23	2.46	(9.58)	5,825	Jul 18	9
Polycab India +	46,940	4,405	20.69	10.24	(16.06)	(19.32)	6,424	Jul 18	8
Total	230,202	20,920	26.04	26.83	(15.66)	(37.23)
ENGINEERING - CAPITAL GOODS
BHEL	58,632	(1,696)	17.18	N.A.	(29.02)	N.A.	(1,130)	--	3
CG Power and Industrial Solutions +	22,711	2,325	21.19	14.11	3.62	(0.49)	3,110	--	2
Rail Vikas Nigam	58,501	3,940	7.42	18.12	(12.69)	(9.07)	3,627	--	1
Cummins India	23,610	4,208	6.90	33.29	1.94	(25.07)	4,524	Aug 6	6
L&T +	516,094	27,798	7.78	11.51	(23.06)	(36.77)	53,107	Jul 24	5
Siemens	57,315	6,589	28.13	55.51	7.86	(26.49)	8,309	--	5
Total	736,864	43,163	10.16	26.28	(19.79)	(38.39)
FINANCE
Aditya Birla Capital	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	Aug 1	--
BSE +	6,139	2,434	136.48	(45.02)	12.70	127.36	3,166	--	3
Jio Financial Services *+	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	Jul 15	--
Bajaj Finance *+	88,821	40,331	32.19	17.35	10.85	5.45	N.A.	Jul 23	8
Bajaj Finserv *+	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	Jul 24	--
Bajaj Holdings & Investment*+	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	Jul 24	--
Cholamandalam Investment and Finance *	25,854	9,529	21.55	31.25	(11.25)	(9.94)	N.A.	Jul 26	10
ICICI Lombard General Insurance Co#	49,053	5,790	(87.38)	48.33	12.30	11.46	N.A.	Jul 19	3
ICICI Prudential Life Insurance Co#	94,940	2,200	35.24	6.33	(35.80)	26.61	N.A.	Jul 23	2
Indian Railway Finance Corp *	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	--	--
L&T Finance *+	20,439	6,345	16.61	19.51	2.84	14.56	N.A.	Jul 16	6
LIC Housing Finance*	21,870	12,151	(1.01)	(8.20)	(2.26)	11.40	N.A.	--	8
Life Insurance Corporation of India #	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	--	--
M&M Financial Svcs*	19,180	5,116	21.05	45.07	5.84	(17.35)	N.A.	Jul 23	10
Max Financial Services*	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	Aug 13	--
One 97 Communications +	15,239	(3,864)	(34.92)	N.A.	(32.78)	N.A.	N.A.	Jul 19	3
PB Fintech +	9,459	392	42.12	N.A.	(13.19)	(35.30)	382	--	1
Piramal Enterprises +	7,990	1,339	19.49	(73.68)	8.89	(2.33)	N.A.	--	1
Poonawalla Fincorp +	5,947	2,896	41.27	28.31	5.72	(12.68)	N.A.	Jul 20	5
Power Finance Corp*	45,153	38,240	28.88	27.17	6.56	(7.53)	N.A.	--	1
REC*	48,511	38,184	33.28	28.97	8.10	(4.93)	N.A.	--	1
SBI Cards And Payment Services	14,769	6,323	19.76	6.57	4.38	(4.54)	N.A.	--	8
SBI Life Insurance Co#	155,700	4,000	18.81	4.98	(38.01)	(50.67)	N.A.	Jul 24	1
Shriram Finance*	53,000	20,286	26.18	21.08	4.18	4.25	N.A.	--	8
Total	682,064	191,693	(24.49)	16.93	(16.48)	(1.68)
FMCG
Britannia Industries +	41,937	5,271	4.56	15.20	3.05	(2.08)	7,773	--	10
Colgate Palmolive	14,352	3,321	8.42	21.35	(3.68)	(12.56)	4,730	--	10
Dabur India +	33,422	5,009	6.76	7.98	18.74	43.31	6,597	Aug 1	11
Godrej Consumer +	35,043	4,769	1.61	49.59	3.50	N.A.	7,515	--	8
Hindustan Unilever	152,349	25,372	0.57	2.64	2.54	5.45	35,643	Jul 23	11
ITC	168,512	51,153	6.46	4.34	1.64	1.90	65,066	--	9
Jubilant Foodworks	14,883	554	13.64	(26.35)	11.79	116.07	2,759	Aug 9	7
Marico +	26,554	4,689	7.20	9.81	16.57	47.45	6,234	Aug 5	10
Nestle India	50,585	7,990	8.59	14.41	(3.97)	(14.47)	12,021	Jul 25	10
Patanjali Foods	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	Jul 19	--
Supreme Industries +	26,903	2,935	13.58	36.15	(10.56)	(17.29)	4,442	Jul 22	6
Tata Consumer Products +	43,649	3,646	16.67	15.17	11.15	68.31	6,750	--	5
United Spirits	24,037	3,078	(54.75)	29.20	(62.41)	(19.86)	3,990	Jul 23	6
Varun Beverages +	73,640	13,123	29.20	32.05	67.44	144.25	20,424	--	6
Total	705,863	130,910	3.11	10.44	1.13	36.78
HEALTHCARE
Apollo Hospitals +	50,698	2,255	14.76	35.33	2.55	(11.17)	6,738	--	5
Fortis Healthcare +	18,117	1,723	9.31	54.17	1.45	(3.60)	3,563	--	1
Max Healthcare Institute +	18,813	3,438	46.41	43.19	32.22	36.66	5,043	--	5
Total	87,628	7,415	19.06	43.03	7.48	8.40
HOTELS
Indian Hotels Co +	15,887	2,692	8.34	21.01	(16.62)	(35.56)	4,763	--	7
Total	15,887	2,692	8.34	21.01	(16.62)	(35.56)
IT
Coforge +	24,290	2,239	9.36	22.41	2.99	(3.21)	4,010	Jul 22	10
Oracle Financial Services Software +	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	--	--
Tata Technologies +	13,599	1,813	N.A.	N.A.	4.52	15.27	2,540	Jul 18	2
Info Edge India	6,411	2,330	9.72	16.54	5.39	10.44	2,622	--	3
Infosys +	390,062	63,408	2.83	6.66	2.86	(20.43)	94,715	Jul 18	13
LTIMindtree +	90,831	12,071	4.38	4.83	2.14	9.74	15,997	Jul 17	12
L&T Technology Services +	25,218	3,248	9.57	4.40	(0.62)	(4.73)	4,767	Jul 18	9
Mphasis +	34,647	4,380	6.54	10.59	1.54	11.39	6,277	Jul 25	8
KPIT Technologies +	13,833	1,772	26.02	32.24	4.97	7.82	2,882	Jul 24	4
Persistent Systems +	26,894	3,042	15.86	32.99	3.82	(3.52)	4,591	Jul 18	11
Tech Mahindra +	129,634	9,087	(1.49)	31.23	0.72	37.48	15,032	Jul 25	12
Wipro +	222,092	29,627	(2.72)	3.22	0.00	4.52	44,154	Jul 19	12
Total	977,508	133,015	3.55	9.82	1.80	(7.49)
LOGISTICS
Container Corp	21,939	3,140	14.31	28.63	(5.34)	6.61	5,029	Aug 8	5
Delhivery +	21,186	(641)	9.78	N.A.	2.07	N.A.	433	--	6
Total	43,125	2,499	12.04	61.59	(1.84)	10.53
MEDIA
Sun TV Network	13,678	6,206	3.80	6.49	47.53	55.63	7,657	--	2
Zee Entertainment +	21,034	1,182	6.03	121.22	(3.07)	785.21	2,242	--	4
Total	34,712	7,388	5.14	16.12	12.08	79.26
METAL
APL Apollo Tubes +	50,306	1,942	10.69	0.30	5.56	13.94	3,178	--	6
Hindalco Industries +	583,789	36,840	10.17	50.12	4.26	16.07	75,505	Aug 13	8
Jindal Steel & Power +	131,302	12,077	4.30	(28.41)	(2.65)	29.11	27,223	--	7
JSW Steel +	426,067	11,348	0.93	(51.46)	(7.92)	(12.64)	62,098	Jul 19	6
NMDC	55,183	16,694	2.29	1.18	(14.78)	14.18	20,561	--	6
Steel Authority of India	244,303	7,144	0.30	376.78	(12.62)	(29.36)	24,993	--	7
Tata Steel +	575,542	10,598	(3.25)	67.17	(1.93)	73.32	62,428	--	8
Vedanta +	362,046	28,684	7.33	8.65	1.96	109.52	99,237	--	3
Total	2,428,537	125,326	3.20	6.69	(2.53)	24.92
OIL & GAS
Adani Total Gas+	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	--	--
BPCL	1,152,091	30,152	1.97	(71.42)	(1.15)	(28.62)	58,803	Jul 19	10
GAIL	334,111	21,407	3.72	51.61	3.38	(1.67)	36,495	--	10
Gujarat Gas	42,613	3,149	12.69	46.41	3.07	(23.10)	5,321	Aug 6	9
Hindustan Petroleum	1,151,894	12,205	2.88	(80.33)	0.55	(57.07)	34,853	Jul 29	10
Indian Oil Corp	1,998,242	24,495	1.16	(82.19)	0.93	(49.37)	82,628	--	10
Indraprastha Gas	36,819	3,661	8.07	(16.50)	2.36	(4.37)	5,269	--	10
Oil India	57,933	17,315	27.85	7.32	4.81	(14.66)	25,510	--	8
ONGC	354,696	86,780	4.90	(13.35)	2.40	(12.07)	171,113	--	9
Petronet LNG	141,748	8,769	21.61	11.02	2.77	18.89	13,130	Jul 24	10
Reliance Ind +	2,312,958	165,429	11.44	3.32	(1.99)	(12.71)	396,847	Jul 19	8
Total	7,583,104	373,362	5.40	(38.79)	(0.10)	(19.64)
PHARMA
Alkem Laboratories +	31,637	4,136	6.60	44.24	7.76	40.88	5,158	--	6
Aurobindo Pharma +	75,930	9,473	10.84	65.98	0.17	4.25	16,435	--	10
Biocon +	39,208	1,706	14.56	68.24	0.09	25.90	8,699	--	4
Cipla +	67,818	11,196	7.16	12.45	10.04	19.23	16,528	Jul 26	9
Divi's Laboratories	21,175	4,720	22.40	36.81	(6.26)	(11.11)	6,420	--	7
Dr Lal Pathlabs +	6,004	959	10.98	16.13	10.08	13.51	1,626	--	5
Dr. Reddy's Lab +	72,803	13,344	7.73	(5.03)	2.34	1.88	19,722	Jul 27	11
Gland Pharma +	15,314	2,236	26.70	15.19	(0.39)	16.19	3,671	--	6
IPCA Laboratories	21,629	1,914	45.52	14.89	43.18	195.52	3,692	--	5
Laurus Labs +	11,582	564	(2.00)	126.88	(19.55)	(25.43)	2,351	--	5
Lupin +	52,120	5,511	8.27	21.85	5.06	53.32	10,481	--	11
Mankind Pharma +	29,376	5,629	13.92	15.62	20.34	19.46	7,505	--	4
Sun Pharma +	128,636	26,097	7.73	29.03	7.35	(1.69)	34,144	--	10
Syngene International	8,160	960	14.00	27.49	(5.63)	(49.42)	2,454	Jul 24	1
Torrent Pharma +	29,110	4,728	12.35	25.09	6.05	5.31	9,271	Jul 23	9
Zydus Lifesciences +	58,096	12,018	13.04	10.57	4.98	1.65	17,440	--	8
Total	668,595	105,191	10.96	21.26	5.24	6.89
PORT
Adani Ports and SEZ +	70,273	23,326	12.48	10.30	1.90	14.36	35,525	--	5
JSW Infrastructure +	10,306	3,264	17.37	1.72	(6.00)	(1.09)	5,363	Jul 18	3
Total	80,579	26,590	13.08	9.17	0.81	12.21
POWER & ENERGY
Adani Energy Solutions +	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	--	--
Adani Green Energy +	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	--	--
Adani Power +	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	--	--
Coal India +	359,709	73,609	(0.03)	(7.65)	(3.85)	(15.22)	92,739	--	5
JSW Energy +	30,064	2,214	2.68	(23.62)	9.09	(36.98)	11,213	--	1
NHPC	23,926	8,931	(6.94)	(15.18)	44.87	28.00	12,813	--	1
NTPC	425,522	45,239	8.77	11.26	0.05	(18.58)	121,243	--	3
Power Grid	116,127	39,345	13.35	11.06	5.09	(4.68)	99,217	--	3
SJVN	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	--	--
Suzlon Energy +	22,834	3,015	69.01	198.81	3.97	18.64	3,416	--	2
Tata Power +	176,474	8,316	16.00	(14.49)	11.36	(7.11)	27,388	--	2
Torrent Power +	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	--	--
Total	1,154,655	180,669	7.50	0.39	1.78	(12.15)
REALTY
DLF +	15,478	6,649	8.75	26.17	(27.50)	(27.78)	4,859	--	4
Godrej Properties +	13,333	4,336	42.44	247.05	(6.50)	(7.99)	2,197	--	3
Macrotech Developers +	27,153	4,531	67.88	153.98	(32.43)	(31.92)	7,464	--	3
Oberoi Realty +	10,390	4,178	14.18	29.89	(20.97)	(46.98)	5,642	Jul 19	4
Prestige Estates +	23,302	1,107	38.63	(58.54)	7.68	(20.95)	6,751	--	3
Total	89,656	20,801	36.51	46.60	(18.92)	(30.33)
RETAIL
Aditya Birla Fashion	35,509	(1,974)	18.87	N.A.	24.48	N.A.	3,346	--	7
FSN E-Commerce Ventures +	17,585	149	23.68	351.11	5.43	114.98	974	--	3
Kalyan Jewellers India+	55,791	1,867	27.50	29.75	23.03	35.69	3,754	Aug 1	1
Page Industries	13,054	1,694	5.92	6.99	31.15	56.58	2,558	--	7
Titan Co	121,814	7,501	9.30	(3.47)	8.21	(4.57)	11,870	--	6
Trent	37,262	3,175	46.91	114.11	16.92	(51.48)	5,830	--	5
Zomato +	39,698	2,613	64.31	12,966.67	11.45	49.33	1,733	--	3
Total	320,713	15,025	22.81	26.88	14.31	(15.05)
TELECOM
Bharti Airtel +	385,759	34,791	3.03	115.76	2.60	67.94	200,483	--	6
Indus Tower +	74,907	15,419	5.86	14.39	4.14	(16.80)	38,321	Jul 30	2
Tata Communications +	58,055	2,487	21.67	(34.85)	2.00	(22.58)	10,957	Jul 18	3
Vodafone Idea +	105,869	(80,474)	(0.64)	N.A.	(0.19)	N.A.	42,635	--	4
Total	624,591	(27,778)	4.20	N.A.	2.24	N.A.
TRAVEL & TOURISM
IRCTC	11,434	2,954	14.14	27.19	(0.98)	3.86	3,758	--	2
Total	11,434	2,954	14.14	27.19	(0.98)	3.86
Grand Total	22,136,716	2,445,064	5.73	0.46	(2.45)	(11.16)

 

EARNINGS DECLARED SO FAR
Company Name	Sales	Informist estimates	PAT	Informist estimates	EPS (in Rupees)	Result Date
Bank of Maharashtra*	27,991.00	N.A.	12,935	N.A.	1.83	Jul 15
HCL Tech +	280,570	280,107	42,570	37,906	15.69	Jul 1
HDFC Asset Management Co	7,752	7,662	6,040	5,713	28.19	Jul 15
HDFC Life Insurance Co#	125,096	135,925	4,777	5,100	N.A.	Jul 15
Tata Elxsi	9,265	9,286	1,841	1,972	29.55	Jul 10
TCS +	626,130	622,132	120,400	120,047	33.28	Jul 1

 

Notes:

+ Consolidated Figure

* Net interest Income

Y-o-Y: Year-on-Year

# Net premium income

Q-o-Q: Quarter-on-Quarter

N.A.: Not Available

 

Estimates from:

Anand Rathi Share and Stock Brokers Ltd, Axis Securities Ltd, Elara Securities (India) Pvt Ltd, Emkay Global Financial Services Ltd, HDFC Securities Ltd, ICICI Securities Ltd, IDBI Capital Market Services Ltd, Incred Research Services Pvt Ltd, Indsec Securities and Finance Ltd, Kotak Institutional Equities, KR Choksey Research, Motilal Oswal Financial Services Ltd, Nirmal Bang Equities Pvt Ltd, Nomura Equity Research, Nuvama Wealth Management Ltd, PhillipCapital (India) Pvt Ltd, Prabhudas Lilladher Pvt Ltd, Sharekhan Ltd and YES Securities (India) Ltd.  End

 

 

Compiled by Mayur Nijap

Edited by Deepshikha Bhardwaj

 

 

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