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Q4-FY23 Results Updates

AJAY SHARMA021 mins

#NSE0033-Q4-FY23 Results Updates

Tata Motors Ltd

  1. Net Profit: The company’s consolidated net profit for the fourth quarter showed a substantial increase, surging more than threefold to ₹17,407.18 crore from ₹5,407.79 crore in the same period last year. This significant rise was primarily driven by the strong performance of its Jaguar Land Rover (JLR) luxury unit and a substantial surge in tax credit.
  2. Revenue: Consolidated revenue grew by 13.5% year-on-year to ₹1,19,213.35 crore. The growth in revenue alongside the profit suggests robust overall performance, likely buoyed by increased demand and efficient management.
  3. Annual Figures: For the full year, Tata Motors’ consolidated net profit jumped over 13 times to ₹31,399.09 crore, up from ₹2,414.29 crore in the previous year, with full-year revenue increasing by 27% to ₹4,34,984.12 crore.

Tata Motors plans to separate its passenger vehicles division from its commercial vehicles division. This strategic move aims to create two separately listed companies. The Board has recommended a final dividend of ₹6 per share, which includes a normal dividend of ₹3 and a special dividend of ₹3 per share.

ABB Ltd

  1. Revenue: ABB Ltd recorded a revenue of ₹3,063 crore in Q1, marking a significant increase from ₹2,395 crore in the corresponding quarter the previous year. This represents a robust year-over-year growth of approximately 28%, indicating strong sales performance and possibly increased market demand for ABB’s products and services.
  2. Profit Before Tax (PBT): The PBT for Q1 stood at ₹617 crore, which is nearly double the ₹327 crore reported in the same period last year. Additionally, it shows a solid sequential increase from ₹453 crore in Q3, highlighting operational efficiency and effective cost management.
  3. Profit After Tax (PAT): The net profit or PAT surged to ₹459 crore from ₹245 crore year-over-year, an impressive increase of about 87%. Comparatively, there was also a growth from ₹345 crore in Q3, underscoring ABB’s capability to maintain profitability growth.

Sterling Tools

  1. Revenue: Revenue increased from ₹211 crore in the same quarter the previous year to ₹269 crore. This marks a significant year-over-year growth of approximately 27.5%. Such an increase suggests effective market penetration and potentially expanding product demand.
  2. Profit Before Tax (PBT): PBT grew from ₹13 crore to ₹21 crore year-over-year, and also saw an improvement from ₹17 crore in the previous quarter (Q3). This growth, amounting to about 61.5% year-over-year, indicates not only improved profitability but also effective cost management and operational efficiency.
  3. Profit After Tax (PAT): PAT more than doubled, increasing from ₹7.7 crore to ₹16 crore year-over-year, and also showed a healthy rise from ₹13 crore in Q3. This reflects strong net earnings, benefiting possibly from both increased revenue and efficient tax management.
  4. Operating Cash Flow (OCF): The operating cash flow was exceptionally strong, rising from ₹63 crore to ₹101 crore. This 60% increase underscores the company’s strong cash generation capabilities, vital for sustaining operations and funding expansion without excessive reliance on external financing.

Ami Organics

  1. Revenue: Ami Organics generated revenue of ₹225 crore, which represents a substantial improvement over the ₹186 crore from the same quarter the previous year and ₹166 crore in Q3. This sequential and year-over-year growth of approximately 21% and 35.5%, respectively, indicates a strong recovery and an increasing demand for the company’s products.
  2. Profit Before Tax (PBT): PBT increased to ₹38 crore from ₹36 crore year-over-year and showed a significant rise from ₹23 crore in Q3. The growth in PBT suggests improved profitability, potentially driven by higher revenue and possibly better cost management.
  3. Profit After Tax (PAT): PAT remained stable at ₹26 crore year-over-year but saw a significant improvement from ₹17 crore in Q3. The stability in year-over-year PAT despite increased revenues might suggest some non-operational impacts or increased tax burdens.
  4. Operating Cash Flow (OCF): The company reported an operating cash flow of ₹125 crore, nearly doubling from ₹65 crore in the same period last year. This robust increase indicates strong cash generation capabilities, which is crucial for sustaining operations and supporting expansion initiatives.

Syrma SGS Technology Ltd

  1. Revenue: Syrma SGS showed a significant increase in revenue, reaching ₹1,134 crore compared to ₹679 crore in the same quarter last year and ₹705 crore in Q3. This sharp increase represents growth of about 67% year-over-year and 61% from the previous quarter, indicating robust sales performance and possibly successful market expansion or product launches.
  2. Other Income: There was a noticeable decline in other income, which dropped to ₹7 crore from ₹16 crore year-over-year. This decrease might reflect lower non-operational earnings such as interest income or one-time gains that were present in the previous periods.
  3. Profit Before Tax (PBT): PBT increased modestly to ₹61 crore from ₹58 crore year-over-year, and more than doubled from ₹27 crore in Q3. This suggests that despite higher revenues, profit growth was tempered, potentially due to increased costs or decreased other income.
  4. Operating Cash Flow (OCF): The company reported that operating cash flow continues to be negative, which the company attributes to being “H2 heavy” – implying that most of their cash inflows occur in the second half of the fiscal year. This pattern might be due to seasonal sales cycles or payment terms with customers.

Polycab India Ltd

  1. Revenue: Revenue for Q4 stood at ₹5,591 crore, up significantly from ₹4,323 crore in the same quarter last year and ₹4,340 crore in Q3. This marks a substantial year-over-year increase of 29% and a sequential increase of 29%, indicating strong sales momentum.
  2. Profit Before Tax (PBT): PBT increased to ₹725 crore from ₹574 crore year-over-year and from ₹546 crore in Q3. These figures represent year-over-year and quarter-over-quarter increases of 26% and 33%, respectively, showcasing effective cost management and operational leverage.
  3. Profit After Tax (PAT): PAT rose to ₹553 crore from ₹428 crore in the same quarter last year and ₹414 crore in Q3. The increases of 29% year-over-year and 34% sequentially suggest that the company has not only increased its profitability but also managed its tax and other post-operational costs effectively.
  4. Annual Performance: For FY24, PBT reached ₹2,359 crore, up from ₹1,716 crore in FY23, while PAT was ₹1,802 crore, up from ₹1,283 crore. These annual increases highlight a strong yearly performance and an effective long-term strategy.
  5. Operating Cash Flow (OCF): OCF for the quarter was ₹1,296 crore, a slight decrease from ₹1,427 crore in the same quarter the previous year. Despite the drop, the OCF remains strong, supporting the company’s operational needs and investment capabilities.

Neuland Labs

  1. Total Income: The total income for the quarter was ₹390 crore, a decrease of 6% year-over-year (YoY), suggesting a drop in sales or revenue generation capabilities which could be attributed to various factors such as reduced demand, pricing pressures, or competitive challenges.
  2. EBITDA: EBITDA stood at ₹112 crore, down 12% from the previous year. This decrease is more pronounced than the drop in total income, indicating not just reduced revenue but also potentially higher operational costs or inefficiencies.
  3. EBITDA Margin: The EBITDA margin decreased by 202 basis points to 28.7%. This contraction further highlights the challenges in maintaining profitability, which could be due to increased costs or lower-than-expected sales volume.
  4. Net Profit: Net profit significantly declined by 20% to ₹67 crore. This considerable drop in profitability could reflect the combined effects of lower revenue, decreased EBITDA, and possibly increased finance costs or exceptional items affecting the bottom line.
  5. Net Debt: A positive note in the report is the reduction in net debt, which decreased to ₹32 crore from ₹63 crore in FY23. This reduction is a good sign, indicating better debt management or repayment which improves the financial stability of the company.

Piramal Pharma

  1. Revenue: The company’s revenue for the quarter was ₹2,552 crore, up from ₹2,163 crore in the same quarter last year, showing a robust increase of 18%. This growth indicates strong sales performance and potentially expanded market share or successful product launches.
  2. EBITDA: EBITDA saw a dramatic rise to ₹556 crore from ₹376 crore in the prior year’s quarter, a significant increase of 49%. This substantial improvement in EBITDA highlights effective cost management and operational efficiency.
  3. Profit Before Tax (PBT): PBT for Q4 reached ₹247 crore, a remarkable increase from ₹87 crore in the same quarter last year and a massive jump from ₹37 crore in Q3. This growth reflects not only the increased revenue but also improved profitability margins.
  4. Profit After Tax (PAT): PAT doubled to ₹101 crore from ₹50 crore year-over-year and increased tenfold from ₹10 crore in Q3. This shows effective tax management and sustained profit growth after accounting for all expenses.
  5. Operating Cash Flow (OCF): The company reported an operating cash flow of ₹1,004 crore, more than doubling from ₹483 crore in the same period last year. This robust increase underscores the company’s strong cash generation capabilities, which are crucial for sustaining operations and supporting future growth initiatives.

Waaree Renewable Technologies

  1. Revenue: Revenue for Q4 stood at ₹273 crore, a significant increase from ₹61 crore year-over-year. However, there was a quarter-on-quarter decrease from ₹324 crore in Q3. This suggests that, while the company has grown significantly over the past year, it did not maintain the upward trajectory expected based on previous quarters.
  2. Profit Before Tax (PBT): PBT was ₹71 crore, compared to ₹20 crore in the same quarter last year, indicating strong year-over-year growth. Nevertheless, there was a decrease from ₹86 crore in Q3, aligning with the revenue trends and highlighting a quarter-on-quarter decline.
  3. Profit After Tax (PAT): PAT increased significantly to ₹54 crore from ₹12 crore year-over-year but fell from ₹64 crore in Q3. This pattern mirrors the revenue and PBT trends, suggesting some operational or market challenges that impacted profitability quarter-on-quarter.
  4. Operating Cash Flow (OCF): OCF showed positive movement, standing at ₹126 crore compared to ₹65 crore in the corresponding quarter last year, indicating robust improvement in cash generation capabilities.
  5. FY24 EPS: The reported EPS of ₹14 for FY24, considering the company’s recent market performance and valuation, may raise concerns regarding pricing and future growth expectations.

Union Bank of India

  1. Net Profit: The bank posted a net profit of ₹33.1 billion for Q4, which shows a growth from ₹27.82 billion year-over-year (YoY). However, there is a slight decrease compared to ₹35.9 billion in the previous quarter (QoQ). Despite the quarter-on-quarter dip, the year-over-year growth indicates strong profitability.
  2. Interest Earned: Interest earned during the quarter was ₹263.5 billion, up from ₹220 billion YoY and ₹253.6 billion QoQ. This growth in interest income suggests an increase in loan disbursement and/or possibly better yields on assets.
  3. Provisions: Provisions for the quarter were ₹12.6 billion, which is a decrease from ₹17.5 billion in the previous quarter. Lower provisions suggest an improvement in asset quality or a more optimistic outlook on potential defaults.
  4. Asset Quality:
    • Net Non-Performing Assets (NPA): The net NPA ratio improved slightly to 1.03% from 1.08% in the previous quarter, indicating effective management of credit risk and recoveries.
    • Gross NPA: Gross NPA also showed improvement, decreasing to 4.76% from 4.83% QoQ. This improvement, though modest, points towards better overall asset quality.

Punjab & Sind Bank

  1. Net Profit: The bank reported a net profit of ₹1.39 billion for Q4, which is lower than the ₹4.6 billion achieved in the same quarter last year. However, there was a slight improvement compared to ₹1.14 billion in the previous quarter (QoQ).
  2. Interest Earned: Interest income was ₹24.81 billion, an increase from ₹21.05 billion year-over-year (YoY), but a slight decrease from ₹24.91 billion in the previous quarter. The year-over-year growth in interest income suggests that the bank is expanding its lending and/or earning better yields on its interest-earning assets.
  3. Provisions: The bank made provisions of ₹1.1 billion, up from ₹962.9 million in the previous quarter. The increase in provisions might indicate a conservative approach towards potential non-performing assets (NPAs) despite an overall improvement in asset quality.
  4. Asset Quality:
    • Net NPA: Improved to 1.63% from 1.80% in the previous quarter, reflecting better credit risk management and recovery processes.
    • Gross NPA: Also improved, decreasing to 5.43% from 5.70% QoQ, suggesting effective management of overall asset quality.
  5. Dividend: The bank has recommended a dividend of ₹0.20 per equity share, which signals confidence in the bank’s current profitability and liquidity management.

Systematix Corporate Services

  1. Net Profit: Systematix Corporate Services reported a net profit of ₹231.9 million in Q4, a significant improvement compared to a net loss of ₹5.6 million in the same quarter last year. This indicates a substantial recovery and a strong positive shift in profitability. The profit also saw an incremental increase from ₹239.3 million in the preceding quarter (QoQ), affirming a continuing upward trend.
  2. Revenue: The company’s revenue for the quarter was ₹578.7 million, compared to ₹160.4 million in the same quarter the previous year, marking an impressive year-over-year (YoY) increase. Additionally, there was a notable increase from ₹489.9 million in the previous quarter (QoQ). This substantial growth in revenue highlights strong sales performance and possibly successful expansion or new client acquisitions.

Disclaimer-

It’s important to note that discussions like are for informational purposes only and should not be taken as specific We are not SEBI registered investment advisor. Whether analyzing a company’s financial health, examining market trends, or discussing technical chart patterns, the goal is to provide insights and perspectives that can help you make more informed decisions according to your own research and investment strategy. Always consider consulting with a financial advisor or conducting thorough personal research before making any investment decisions.

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