Electronic manufacturing major Dixon Technologies announced firm plans to diversify into laptop and tablet manufacturing, eyeing commencement of production in the second half of 2024. The Noida-based company has finalized partnerships with global brands including Lenovo and Asus for local assembly of their laptop models in India. “The new contracts for notebooks, laptops that we […]
Noida-based Dixon Technologies, one of the leading domestic contract manufacturers, expressed strong confidence in quadrupling its business over the next 4-5 years, indicating an expected growth rate of 35-40% annually. During the company’s Q3FY24 earnings call, Managing Director Atul Lall responded to a question on how Dixon views the future growth potential with its strengthened […]
Gujarat Narmada Valley Fertilizers & Chemicals Ltd (GNFC) reported a significant decline in profitability margins during the latest December 2023 quarter due to industry-wide disruption stemming from a change in government policy. The company’s operating margins crashed to 6-7% in the first 9 months of financial year 2023-24, down from 18% in the same period […]
Mumbai-based Flair Writing Industries Limited (FWIL), one of the leading players in the writing instruments industry, reported a muted third quarter, blaming disruptions in some of its export markets for the decline in revenue and profit. For the third quarter ended December, the company posted consolidated revenues of Rs. 225 crores, down 3% year-on-year. Net […]
Kansai Nerolac Paints Ltd (KNPL) today reported strong growth on several fronts during the Oct-Dec quarter despite a challenging economic environment, including slow demand from rural areas. Net revenue for the quarter rose 5.7% year-on-year to Rs 1,814.9 crores. EBIDTA jumped 27.3% to Rs 239.9 crores while profit after tax surged 40.4% to Rs 157.6 […]
Leading forged products supplier Ramkrishna Forgings Limited has announced that it has won a significant $13.16 million (Rs 109.2 crore) contract from a major North American axle manufacturer. The 4-year contract entails supplying rear axle components and services for the off-highway sector. Ramkrishna Forgings emerged as the preferred supplier after a competitive bidding process thanks […]
VA Tech WABAG, a leading Indian water technology company, has announced that it has secured an order worth $33.5 million (Rs 270 crore) for designing and building an industrial wastewater treatment plant at the Ras Tanura Refinery in Saudi Arabia. The order has been awarded by SEPCO III Electric Power Construction Corporation to provide engineering […]
Alexander Gerding, Managing Director of industrial chemicals manufacturer BASF India, struck an optimistic tone about the company’s long-term growth prospects in the country, despite the challenging global environment. Speaking during the Q2 FY2023 earnings conference call, Gerding highlighted several positive factors that make him confident about BASF India’s future. “I always say it’s not a […]
Leading stainless steel manufacturer Jindal Stainless Limited (JSL) has received a credit rating upgrade from CRISIL Ratings. The company’s long-term bank facilities and debt programme rating has been revised upwards from CRISIL AA-/Positive to CRISIL AA/Stable. Meanwhile, the short-term bank facilities rating has been reaffirmed at CRISIL A1+. This rating action factors in Jindal Stainless’ […]
Bengaluru-based textile manufacturer Himatsingka Seide Limited announced its financial results for the second quarter of fiscal year 2024, ending September 30, 2023. The company reported strong year-over-year growth in revenue and profitability, driven by higher capacity utilization levels across its key divisions and softening prices of raw materials like cotton. Himatsingka Seide’s consolidated net revenue […]
Voltas Limited has decided to raise funds through a rupee term loan instead of non-convertible debentures (NCDs) on a private placement basis. In a regulatory filing, Voltas informed the stock exchanges that its board had earlier approved a proposal on October 19 to raise up to Rs 500 crore through issuance of NCDs. However, the […]
Mumbai-based FMCG company Jyothy Labs Limited announced robust results for the second quarter ended September 30, 2023. The company reported an 11.1% increase in net sales to Rs 732 crores compared to the same period last year. Net profit jumped 59.1% to Rs 104 crores versus Rs 65.4 crores in Q2 FY2023. The growth was […]
Titan Company Limited, India’s leading consumer lifestyle company and part of the Tata Group, today reported strong second quarter results for the period ended September 30, 2023. The company’s total standalone income grew 21% year-on-year to Rs 10,027 crore in Q2 FY2023-24. Profit before tax (PBT) rose 9% to Rs 1,261 crore from Rs 1,155 […]
Ahmedabad-based Cera Sanitaryware Limited, a leading manufacturer of sanitaryware, faucets and wellness products in India, reported steady revenue growth of 11.4% year-on-year to Rs. 4,616 million in Q2 FY24. Profit after tax also increased by 12.2% to Rs. 569 million. Cera Sanitaryware has a wide portfolio of products including tiles, faucets, wellness products like bathtubs […]
Marico Limited, one of India’s leading consumer goods companies, announced its results for the second quarter ended September 30, 2023. The company delivered a fairly resilient performance despite mixed demand trends and a challenging macro environment. Consolidated Revenue from Operations stood at ₹2,476 crore, registering a marginal decline of 1% year-on-year. This was led by […]
Mumbai-based Supreme Industries Limited, one of India’s leading manufacturers of plastic products, has reported robust growth in the second quarter of fiscal 2023-24. According to the company’s press release, Supreme Industries registered a 23% increase in plastic goods sold during Q2 FY24 to 137,763 MT, compared to 111,803 MT in Q2 FY23. Total income grew […]
Voltas’ second quarter results failed to meet brokerage expectations, prompting several firms to cut their ratings, estimates and price targets on the stock. The company’s profitability was impacted by continued losses in its electromechanical projects and services (EMPS) business, which is closely aligned to the construction sector. Analysts acknowledged the company’s growth potential but see […]
The second quarter results announced by Havells India (HAVL) have elicited broadly negative reactions from brokerages, with most downgrading earnings estimates and price targets. The primary factors responsible for the disappointing results and outlook are softness in consumer demand, elevated competitive intensity, and continuing losses in the Lloyd business. JM Financial cut its FY24 and […]
Analysts have largely been positive on ITC’s second quarter results, as the diversified company reported a 2.6% year-on-year growth in revenues to Rs 16,551 crore in Q2FY23, driven by growth across cigarettes, FMCG and hotels businesses. Nuvama Research has retained its ‘BUY’ rating on the stock with a revised price target of Rs 560, up […]
Brokers have revised their ratings, estimates and price targets on consumer packaged goods company Hindustan Unilever Ltd after the company’s second quarter results. Most brokers have turned cautious in their outlook and revised down earnings and target prices, only one, Antique Stock Broking, has downgraded significantly by moving their recommendation to ‘HOLD.’ The Q2 miss […]
