The company's EBITDA Margin at 22.6% as against 19.2% (YoY).
The net profit for the quarter stands at Rs. 388 crores.
EBITDA Margin at 22.6% Vs 19.2% (YoY).
The total income for Q3 stands at Rs.3,261 Cr as compared to Rs.3,353 Cr (YoY).
Monday 25 January 2016
MRF Q3 net profit rises 19.7% at Rs.388 crore
The net profit for the quarter stands at Rs. 388 crores.
EBITDA Margin at 22.6% Vs 19.2% (YoY).
The total income for Q3 stands at Rs.3,261 Cr as compared to Rs.3,353 Cr (YoY).
Eveready Industries Q3 PAT at Rs.17 crore; EBITDA Margin at 10.2%
The company recorded a rise of 10.8% in its net profit at Rs. 17 crore for the quarter ended December 31, 2015 as compared to Rs.15.3 crore for the quarter ended December 31, 2014.
The company recorded a rise of 10.8% in its net profit at Rs. 17 crore for the quarter ended December 31, 2015 as compared to Rs.15.3 crore for the quarter ended December 31, 2014. The company's total income has decreased by 0.4% at Rs. 324.1 crore for the quarter against Rs.325.4 crore in the corresponding quarter of the previous year.
During the quarter under review, sales were at Rs.324 crore compared with Rs.325 crore.
The company's EBITDA Margin in third quarter stood at 10.2% vs 9.2%.
Stock Commentary:
Eveready Industries India Ltd is currently trading at Rs. 255.85, down by Rs. 8.35 or 3.16% from its previous closing of Rs. 264.2 on the BSE.
The scrip opened at Rs. 268 and has touched a high and low of Rs. 269.8 and Rs. 254 respectively. So far 189426(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 1920.21 crore.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 374.9 on 17-Jul-2015 and a 52 week low of Rs. 186 on 09-Feb-2015. Last one week high and low of the scrip stood at Rs. 270.45 and Rs. 245.5 respectively.
The promoters holding in the company stood at 44.01 % while Institutions and Non-Institutions held 28.47 % and 27.52 % respectively.
The stock is currently trading above its 200 DMA.
HDFC Bank Q3 net profit at Rs. 3357 crore
Gross NPA for the quarter was at 0.97% as against 0.91% (QoQ)
HDFC Bank Q3 net profit at Rs. 3357 crore.
Gross NPA for the quarter was at 0.97% as against 0.91% (QoQ)
Gross NPA for the quarter was at 0.97% as against 0.91% (QoQ)
Spicejet rallies 14% on Q3 numbers
The airline reported a net profit of Rs. 238.40 crore for Q3 FY16, an improvement of Rs. 513.42 crore over the net loss of Rs. 275.03 crore for the same quarter last year.
The airline reported a net profit of Rs. 238.40 crore for Q3 FY16, an improvement of INR 513.42 crore over the net loss of Rs. 275.03 crore for the same quarter last year.
This is the highest quarterly net profit the airline has reported in its history. SpiceJet has reported an operational revenue of INR 1,459.95 crore in the quarter demonstrating a growth of 11% over same quarter last year while its capacity (in terms of available seat kilometers) dropped by 3% for the same reference period.
The scrip opened at Rs. 77.25 and has touched a high and low of Rs. 81 and Rs. 75 respectively. So far 26678460(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 4247.1 crore.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 85.9 on 01-Jan-2016 and a 52 week low of Rs. 16.7 on 27-Apr-2015. Last one week high and low of the scrip stood at Rs. 77.5 and Rs. 62.5 respectively.
The promoters holding in the company stood at 60.32 % while Institutions and Non-Institutions held 1.4 % and 38.28 % respectively.
The stock is currently trading below its 50 DMA.
Asian stocks in green; Hang Seng up 1.5%
Surging oil prices helped Asian stocks to rise on the first day of the trading week. Monetary easing steps by European Central Bank (ECB) last week lifted sentiment across Asian stocks.
Climbing crude oil prices helped the Chinese stocks to take the gains forward with the Shanghai Composite Index currently trading 0.54% higher at 2,932.25 points; while the CSI 300 Index is currently trading 0.31% up at 3,123.12 points.
Among other gainers, Japan’s Nikkei 225 Index is currently trading 0.89% higher at 17,110.91 points, Singapore’s Straits Times at 2,603.60 points (1.02%), Taiwan’s Weighted Index at 7,894.15 points (1.75%), South Korea’s Kospi Index at 1,893.43 points (0.74%), Thailand’s SET Composite Index at 1,282.09 points (1.10%), Indonesia’s Jakarta Composite Index at 4,518.84 points (1.37%) and Singapore Nifty, better known as SGX Nifty, is currently trading 0.44% higher at 7,459 points.
Meanwhile, in India, the S&P BSE Sensex and Nifty 50 index are currently trading 0.48% and 0.50% higher at 24,553.88 points and 7,459.70 points respectively.
Top 7 companies lost more than Rs.51K crore last week
Top losers include RIL, Infosys, HDFC Bank, ITC, CIL, ONGC, and HUL, while TCS, Sun Pharma, and HDFC saw an increase in market-cap.
Top losers include RIL, Infosys, HDFC Bank, ITC, CIL, ONGC, and HUL, while TCS, Sun Pharma, and HDFC saw an increase in market-cap.
RIL’s market-cap slumped by Rs. 22,396.27 crore to Rs. 3,25,219.68 crore; Coal India’s market-cap tumbled by Rs. 11,527.37 crore to Rs. 1,89,459.35 crore.
HUL’s market-cap tumbled by Rs. 6,816.19 crore to Rs. 1,67,191.48 crore.
The valuation of ITC slipped by Rs. 4,098.71 crore to settle at Rs. 2,48,052.44 crore and HDFC Bank lost Rs. 3,168.99 crore to reach Rs. 2,60,159.65 crore.
ONGC’s market-cap was lower by Rs. 2,652.21 crore and was at Rs. 1,85,183.58 crore; Infosys’ market cap declined by Rs. 987.69 crore to Rs. 2,60,909.94 crore.
TCS valuation surged by Rs. 6,256.11 crore to Rs. 4,52,262.47 crore and HDFC’s market cap jumped by Rs. 1,420.86 crore and was at Rs. 1,82,792.91 crore.
Sun Pharma’s market cap increased by Rs. 998.74 crore to Rs. 1,90,133.92 crore.
For the week, BSE Sensex and NSE Nifty closed at 24,450 (down 0.1%) and 7,422 (down 0.2%) respectively.
Sensex Top Gainers: The top gainers in Sensex were Axis Bank Ltd (up 13.5%), GAIL India Ltd (up 9.3%), Bharat Heavy Electricals Ltd (up 7.9%), Tata Steel Ltd (up 7.5%), and Hero MotoCorp Ltd (up 6.6%)
Sensex Top Losers: The top losers in Sensex were Reliance Industries Ltd (down 6.4%), Coal India Ltd (down 5.7%), Cipla Ltd/India(down 4%), Hindustan Unilever Ltd (down 3.9%), and Maruti Suzuki India Ltd (down 3.9%).
Nifty Top Gainers: The top gainers in Nifty were Axis Bank Ltd (up 13.3%), GAIL India Ltd (up 9.3%), Bharat Heavy Electricals Ltd (up 8%), Tata Steel Ltd (up 7.9%), and Hero MotoCorp Ltd (up 6.7%).
Nifty Top Losers: The top losers in Nifty were Vedanta Ltd (down 11.2%), Reliance Industries Ltd (down 6.4%), Coal India Ltd (down 6%), Cairn India Ltd (down 5.6%), and Bharat Petroleum Corp Ltd (down 5.3%).
BSE Mid Cap Top Gainers: The top gainers in Mid Cap Index were JSW Steel Ltd (up 9.3%), Bank of India (up 7.1%), Indiabulls Housing Finance Ltd (up 7%), Havells India Ltd (up 6.4%), Union Bank of India (up 5.8%).
BSE Mid Cap Top Losers: The top losers in Mid Cap Index were Mahindra & Mahindra Financial (down 11.6%), Hindustan Petroleum Corp Ltd (down 9.9%), Oberoi Realty Ltd (down 9.7%), Glenmark Pharmaceuticals Ltd (down 9.3%), and Reliance Communications Ltd(down 8.8%).
BSE Bank Index Top Gainers: The top gainers in Bank Index were Axis Bank Ltd (up 13.5%), ICICI Bank Ltd (up 3.7%), Bank of Baroda (up 3.3%), Yes Bank Ltd (up 3.1%), and Federal Bank Ltd (up 1.6%).
BSE Bank Index Top Losers: The top losers in Bank Index were IndusInd Bank Ltd (down 2.5%), HDFC Bank Ltd (down 1.2%), and State Bank of India (down 0.2%).
BSE Healthcare Top Gainers: The top gainers in Healthcare Index were Granules India Ltd (up 9.6%), Venus Remedies Ltd (up 8.6%), Caplin Point Laboratories Ltd (up 8%), Strides Shasun Ltd (up 6.6%), and Torrent Pharmaceuticals Ltd (up 4.9%).
BSE Healthcare Index Top Losers: The top losers in Healthcare Index were Elder Pharmaceuticals Ltd (down 19.1%), Panacea Biotec Ltd (down 13.7%), RPG Life Sciences Ltd (down 12.9%), Orchid Pharma Ltd (down 9.8%), and Glenmark Pharmaceuticals Ltd (down 9.3%).
BSE Auto Top Gainers: The top gainers in Auto Index were Hero MotoCorp Ltd (up 6.6%), Motherson Sumi Systems Ltd (up 2.2%), Mahindra & Mahindra Ltd (up 1.3%), Apollo Tyres Ltd (up 1%), and Eicher Motors Ltd (up 1%).
BSE Auto Index Top Losers: The top losers in Auto Index were Cummins India Ltd (down 5.9%), Maruti Suzuki India Ltd (down 3.9%), MRF Ltd (down 3.6%), Bosch Ltd (down 2.9%), and Bajaj Auto Ltd(down 0.8%).
BSE Oil & Gas Top Gainers: The only company to post gains was in the Oil & Gas Index was GAIL India Ltd (up 9.3%).
BSE Oil & Gas Index Top Losers: The top losers in Oil & Gas Index were Hindustan Petroleum Corp Ltd (down 9.9%), Reliance Industries Ltd (down 6.4%), Cairn India Ltd (down 5.6%), Bharat Petroleum Corp Ltd (down 5.4%), and Indian Oil Corp Ltd (down 4.7%).
BSE Metals Index Top Gainers: The top gainers in Metals Index were JSW Steel Ltd (up 9.3%), Tata Steel Ltd (up 7.5%), Hindustan Zinc Ltd (up 4.7%), Jindal Steel & Power Ltd (up 3%), and Steel Authority of India Ltd (up 1.9%).
BSE Metals Index Top Losers: The top losers in Metals Index were Vedanta Ltd (down 11.2%), NMDC Ltd (down 6.6%), Coal India Ltd (down 5.7%), and National Aluminium Co Ltd (down 4.5%).
BSE IT Index Top Gainers: The top gainers in IT Index were Geometric Ltd (up 8.1%), TAKE Solutions Ltd (up 7.1%), eClerx Services Ltd (up 6.2%), Intellect Design Arena Ltd (up 6.1%), and Moser Baer India Ltd (up 5%).
BSE IT Index Top Losers: The top losers in IT Index were RS Software India Ltd (down 14.2%), Zicom Electronic Security Systems Ltd (down 14%), Subex Ltd (down 12.7%), 8K Miles Software Services Ltd (down 10.4%), and D-Link India Ltd (down 9.4%).
ITC cigarette margins impacted by timing of certain expenses: Jefferies
ITC's 3Q16 results were operationally in-line with expectations, as cigarette margins were impacted by timing of certain expenses. Low single-digit decline in cigarette volumes was better than beaten-down expectations and likely indicates a bottoming out of demand.
ITC's 3Q16 results were operationally in-line with expectations, as cigarette margins were impacted by timing of certain expenses. Low single-digit decline in cigarette volumes was better than beaten-down expectations and likely indicates a bottoming out of demand. A revival in overall consumption trends should kick start cigarette volume recovery for ITC in due course, in our view. Maintain Buy.
Cigarettes - demand weak but steady: ITC’s cigarette revenues grew c.6% YoY (-2% vs est) while profits grew c.3% YoY (-6% vs est), as the segment saw an unprecedented margin drop. Demand trends, although weak, were steady as the volume decline was limited to low single-digits, better than ests. Pricing has been weaker this year given the muted demand environment, but product mix trends were steady and the shift to smaller cigarettes (DSFT) has had no impact on margins. The mgmt attributed the margin decline in 3Q to timing of certain operating/marketing expenses, and indicated that underlying profit growth was healthy. Nevertheless, we lower our FY16E EBIT forecast by c.1% to factor in weaker 3Q, but keep FY17E and 18E mostly unchanged.
FMCG – impacted by deflation and inventory correction: FMCG revenues grew c.7% YoY, c.4% below est. Overall demand continued to be weak, especially in rural markets. Price deflation and channel corrections in the stationery business further impacted growth. Noodles business, however, has recovered well this Q. The underlying growth in the segment was close to double digits. The segment has reported profits in 2H of each year for the past 2 years – likely driven by timing of marketing expenses. We cut our revenue est. by c.3% over FY16-18E given the muted demand environment, but forecast small profits for the segment inline with recent trends.
Other segments - mixed performance: Paper segment revenues grew c.5% YoY while profits increased c.13% YoY, led by a richer product mix and lower input prices. However, weak demand aside, this category continues to be under pressure from increased imports from China and ASEAN countries. The hotels and agri business faced pressure on pricing and demand this quarter.
Valuation/Risks
We lower our FY16-18E EPS est. (~3%) and SOTP-based TP mainly to account for higher tax rates. Our TP now stands at Rs381/share (25x FY17E cig profits). Near term earnings are likely to be weak, but we believe we are nearing the bottom of the weak demand cycle. Maintain Buy. Risks: a) Severe slowdown; b) adverse taxation.
Persistent Systems Q3 FY16 revenue grew by 9.1% and PAT by 7.8%
“Our strategy continues to pay off. Our platform-based solutions and a robust partner ecosystem drives our strategy for enterprise digital transformation. Our acquisitions are strengthening our technology expertise, all helping fuel a record quarter for us,” said Dr. Anand Deshpande, Managing Director and CEO, Persistent Systems.
The Company also announced the appointment of industry veteran Tom Kendra, based in the US, to its Board of Directors. Tom recently retired from Dell’s Software group where he was Vice President and General Manager of the Systems Management business. Prior to Dell, Tom served in senior management roles at CA Technologies, Symantec Corporation and IBM.
“Our strategy continues to pay off. Our platform-based solutions and a robust partner ecosystem drives our strategy for enterprise digital transformation. Our acquisitions are strengthening our technology expertise, all helping fuel a record quarter for us,” said Dr. Anand Deshpande, Managing Director and CEO, Persistent Systems.
“We are excited about Honorable Prime Minister Mr. Modi’s initiatives including Digital India and Startup India. These align with our own entrepreneurial culture and long history of partnering with start-ups globally. We will continue to foster the emergence of this aspect of India’s potential.” he added.
Consolidated Financial Highlights for the Quarter ended December 31, 2015:
| Q3 FY16 | Q-o-Q growth | Y-o-Y growth | |
| Revenue (USD Million) | 89.65 | 8.1% | 12.7% |
| Revenue (INR Million) | 5,920.74 | 9.1% | 19.7% |
| EBITDA (INR Million) | 1,110.45 | 9.1% | 11.6% |
| PAT (INR Million) | 774.89 | 7.8% | 4.1% |
Consolidated Financial Highlights for year to date December 31, 2015
| YTD Dec. 2015 | YTD Dec. 2014 | Y-o-Y growth | |
| Revenue (USD Million) | 251.21 | 228.50 | 9.9% |
| Revenue (INR Million) | 16,352.21 | 13,937.99 | 17.3% |
| EBITDA (INR Million) | 3,097.04 | 2,901.05 | 6.8% |
| PAT (INR Million) | 2,165.54 | 2,145.81 | 0.9% |
Enterprise Customer Wins:
- Built an API platform to develop new mobile offerings for a leading global retailer of fashion and personal care products
- Leveraged Persistent’s API built using Oracle IDM to enable a major global transportation manufacturer to develop next generation apps
- Redesigned application suite of a global lifestyle healthcare company to provide consistent digital user experience
- Provided capabilities for banking and wealth management company to achieve regulatory compliance across a spectrum of mandates
- Built the next generation KYC platform for a global fintech company
Business Highlights from the Quarter:
- For the third year in a row, recognized as a leader in the Enterprise Software Product segment of the annual Global Service Provider Ratings by Zinnov Management Consulting
- Acquired digital content management solutions business of Akumina, maker of InterChange, an innovative software platform that optimizes user experiences for digital businesses using Microsoft SharePoint
- Continued to strengthen partner ecosystem releasing suite of healthcare and life sciences accelerators for Salesforce
- Customer-focused hackathon held jointly with Appian at our Appian Center of Excellence at Columbus, Ohio
Accelerite Highlights from the Quarter:
- The Company signed an agreement on January 11, 2016 to acquire Citrix CloudPlatform powered by Apache CloudStack, which is subject to the customary closing conditions
- Launched Aepona IoT accelerating IoT service enablement with support for developer APIs
- Announced significant enhancements to ConVirt unified cloud management platform for unifying VMware, KVM, Hyper-V and AWS environments into enterprise private clouds
- Hosted first ever Radia users summit attended by global customers and partners
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