Stocks in Focus on May 17: L&T, Cipla, Balkrishna Industries, Cheviot to Adani Green; here are the 5 Newsmakers of the Day
At the stock markets, the Bombay Stock Exchange on Friday, May 14, 2021, ended with a marginal gain of 42 points, to close at 48,733.
At the stock markets, the Bombay Stock Exchange on Friday, May 14, 2021, ended with a marginal gain of 42 points, to close at 48,733. But, the Nifty at the National Stock Exchange shed 19 points, to close at 14,678. But certain stocks came in the news after the market was closed. These stocks can impact the indices, when it reopens on Monday, May 17, 2021. List of such five stocks:
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L&T + Cipla + Balkrishna Industries
Larsen & Turbo (L&T): The construction engineering company has reported a 3% Year-on-Year rise in consolidated profit at Rs 3,293 crore for the quarter ended March 31, 2021. It has posted a consolidated profit of Rs 3,197 crore for the same quarter ended last financial year. It has reported an 8.7% growth in the consolidated revenue from operations at Rs 48,088 crore as compared to Rs 44,245 crore posted last year. L&T's EBITDA for the quarter stood at Rs 6,389 crore, up 25 per cent from Rs 5,121 crore reported last year. The margins improved to 13.3% in Q4FY21 as against 11.6% reported in Q4FY20. The company's new order flows in the fourth quarter slumped 12 per cent to Rs 50,651 crore against the order inflows of Rs 57,785 crore posted in Q4FY20. Total order book at the end of the financial year stood 2020-21 stood at Rs 3.27 lakh crore, up 8 per cent on a YoY basis as compared to Rs 3.03 lakh crore. Infrastructure business continues to do well and 61% of total orders are from infrastructure business. The Board of Directors has recommended a Final Dividend of Rs 18 per share. Also, the company had declared a special dividend of Rs.18 per equity share as an interim dividend, post the divestment of the Electrical & Automation business.
New Orders Break-up (YoY)
Segment New Orders Change
Infra Rs 31,256 crore -24%
Hydrocarbon Rs 3,591 crore 43%
Heavy Engg Rs 1,778 crore 79%
Defence Rs 282 crore -73%
Power Rs 792 crore
Revenue Break-up (YoY)
Segment Revenue Change
Infra Rs 26,240 crore 5%
Hydrocarbon Rs 5,412 crore 9%
Heavy Engg Rs 999 crore 57%
Defence Rs 1,136 crore 43%
Power Rs 1216 crore 119%
Expect pick up in business activity in Q2 FY22 onwards
Expect margins to be stable through the year
Expect growth of low to mid-teens in FY22 (no official guidance given)
Working Capital situation improves on an FY21 basis.
The cash flow situation has also improved.
Q1 and Q2 of FY21 were challenging for infra business, impacted overall FY21 performance.
Power business continues to face challenges.
Expect international business to do well.
Expect good growth from the Middle East in the water, hydrocarbon, power business.
Expect stable performance from the Far East, African markets.
A rise in metal prices is a concern for managing input costs.
In talks with clients to manage costs better.
Current Covid Impact
Current Labour availability has gone down to 1.71 lakh vs 2.45 lakh at end of March.
Facing execution delays at some project sites.
Making efforts to ensure minimal disruption in labour availability.
Cipla: The pharmaceutical company has reported a 72% YoY rise in the profit at Rs 411 crore for the quarter ended March 31, 2021 (Q4FY21). It had reported a profit of Rs 239 crore of the same quarter of the previous financial year (Q4FY20). Revenue from operations rose 5% YoY to Rs 4.606 crore as against Rs 4,376 crore posted last year. EBITDA stood at Rs 796 crore, up 26% from Rs 633 crore posted last year. Margin improved to 17.3% in Q4FY21 as against 14.5% posted in Q4FY20. Geographical performance
India up 4%
North America: up 17%
Emerging market: up 4%
Europe: up 7%
Balkrishna Industries: The tyre manufacturing company has reported a 42.6% YoY rise in the consolidated profit at Rs 378 crore for the quarter ended March 31, 2021. It had reported a profit of Rs 265 crore in the same quarter of the previous financial year. Consolidated revenue from operation rose 27.8% to Rs 1,753 crore in the reported quarter as against Rs 1,372 crore posted last year. EBITDA stood at Rs 550 crore, up 43.2% from Rs 384 crore posted last year. The EBITDA margin improved to 31.4% in Q4FY21 as against 28% reported in Q4FY20. The sales volume of the company rose 12% YoY to 68,002 MT. The board has approved a final dividend of Rs 5 per share.
-demand continues to be robust in Agriculture segment across Geographies.
-highest ever annual sales volumes for FY21 at 227131 MT.
-For FY22, the company is guiding sales volume between 250,000-265,000 MT.
Volume Profile - FY21
Just Dial + Oberoi Realty + AB Capital + Cheviot
Just Dial: The company has reported a 55.8% YoY decline in the consolidated profit at Rs 33.6 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 76.1 crore in the same quarter of the previous financial year. Consolidated revenue from operations fell 25.2% to Rs 175.7 crore as against Rs 234.9 crore posted last year. EBITDA stood at Rs 34.9 crore, down 53% against Rs 74.3 crore posted last year. The margins contracted to 19.9% in Q4FY21 as against 31.6% posted in Q4FY20.
Oberoi Realty: Real Estate Company has reported a 14.3% YoY rise in consolidated profit at Rs 286.9 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 250.9 crore in the same quarter of the previous financial year. Consolidated revenue grew 28.4% to Rs 790 crore as against Rs 615.5 crore posted last year. EBITDA stood at Rs 373.4, up 0.8% as against Rs 370.52 crore posted last year. Margins contracted to 47.3% in Q4FY21 as against 60.2% posted in Q4FY20. The board has approved the raising of funds up to Rs 2,000 crore.
Aditya Birla Capital: The company has reported a 161.1% YoY rise in the consolidated profit at Rs 375.2 crore for the quarter ended March 31, 2021. It had reported a profit of Rs 143.7 crore in the same quarter of the previous financial year. Consolidated revenue from operation grew 16.2% to Rs 5,586.8 crore as against Rs 4,808.2 crore posted last year.
Cheviot: The manufactures and exporter of jute yarns and fabrics have reported a 643% YoY jump in the profits at Rs 26 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 3.5 crore in the same quarter of the previous financial year. Revenue grew 37% to Rs 157 crore as against Rs 115 crore posted last year. EBITDA stood at Rs 24, up 64% as against Rs 15 posted last year. The margin improved to 15.5% in Q4FY21 as against 12.85% posted in Q4FY20. The board has approved a special dividend of Rs 175 and fixed July 16, 2021, as the record date for the purpose.
Dr Reddy’s + Hester Bio
Dr Reddy: There are reports that the second consignment of Covid vaccine Sputnik V (60k doses) has arrived in India. Chief Minister of Delhi Arvind Kejriwal on Saturday said his government has written to Dr Reddy's Laboratories for the supply of around 67 lakh doses of Russian COVID-19 vaccine Sputnik V. Besides, the first batch of 2-deoxy-D-glucose (2-DG) drug will be launched. Hyderabad-based Dr Reddy's Laboratories is manufacturing the drug for public use.
Hester Biosciences: The company has filed clearance about the news on Hester tying up with Gujarat Biotechnology Research Centre, Department of Science & Technology, Government of Gujarat and with Omnibrx towards manufacturing Covid vaccine. It said, a triparty consortium has been formed with the Government of Gujarat as the lead partner, to explore the prospects of manufacturing the Covid vaccine through technology from Bharat Biotech.
Adani Green + Zensar Technologies
Adani Green Energy: The company is in advanced talks to buy SoftBank-backed SB Energy and the deal could value at over $650 million. A deal could help Adani Green to reach its planned generation capacity of 25 gigawatts by 2025
Zensar Technologies: Zensar Technologies Inc, USA, wholly-owned subsidiary of the Company, has entered into a definitive agreement(s)/document(s) for the acquisition of 100% of the membership interests in M3bi, LLC, USA. M3bi is a Data Engineering, Big Data & Advanced Analytics and Digital Engineering firm.
IPO Updates: Five companies have filed DRHP for IPO.
Company IPO Size Sector
Dvyani International Rs 1400 crore QSR/Restaurant
Aptus Value Housing Rs 3000 crore Housing Finance
CarTrade Rs 2000 crore Digital/Online
Krsnaa Diagnostics Rs 1200 crore Diagnostic
Supriya Lifesciences Rs 1200 crore Pharma/API
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