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 […]
Hyderabad-based Suven Life Sciences today announced positive topline results from a Phase 2 clinical trial evaluating its investigational drug samelisant for the treatment of excessive daytime sleepiness (EDS) in adult patients with narcolepsy. The randomized, placebo-controlled study met its primary endpoint, demonstrating that samelisant treatment resulted in a statistically significant and clinically meaningful reduction in […]
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 […]
Strides Pharma Science Ltd (NSE: STAR), a global pharmaceutical company headquartered in Bengaluru, India, reported strong financial results for the second quarter (Q2 FY24) ended September 30, 2023. The company posted quarterly sales of ₹10,264 million, up 10% quarter-on-quarter and 21% year-on-year. This is the sixth consecutive quarter of growth for Strides, leading to an […]
Real estate developer Lodha Group reported its best ever quarterly pre-sales of Rs. 35.3 billion for the second quarter of FY2024, registering a 12% year-on-year growth despite Q2 being traditionally the weakest quarter. The company’s strong performance comes on the back of improving real estate market conditions since the Covid-19 pandemic. Lodha has rebounded strongly […]
Mumbai-based real estate developer Mahindra Lifespace Developers Ltd (MLDL) announced a mixed set of results for the second quarter of fiscal year 2023 on October 27th. The company reported consolidated total income of Rs 25.7 crore, down 65% from Rs 73.8 crore in Q2 FY2022 and 76% lower than Rs 110.1 crore in Q1 FY2023. […]
Dr. Reddy’s Laboratories Ltd (DRL) announced a decent set of numbers for the second quarter of fiscal year 2024, reflecting continued growth momentum for the Indian pharma major and improved numbers from the US. DRL reported total revenues of Rs 68,802 million in Q2 FY24, a growth of 9% over the same quarter last year. […]
Tata Group’s Indian Hotels Company Limited (IHCL), India’s largest hospitality company, announced strong financial results for the second quarter ending September 30th, 2023, marking the sixth consecutive quarter of record performance. IHCL’s revenue grew 18% year-on-year to Rs 1,481 crores, EBITDA jumped 26% to Rs 402 crores with margin expansion of 180 basis points, and […]
Dixon Technologies, India’s largest electronics manufacturing services company, is making a decisive push into laptop and tablet manufacturing to capitalize on the massive market opportunity arising from the government’s increased impetus on domestic electronics production and import curbs on foreign brands. During its recent quarterly earnings call, Dixon Technologies stated that it has filed an […]
Jubilant Foodworks (JFL), which operates Domino’s Pizza and Dunkin’ Donuts chains in India, has seen a sharp 5% decline in its stock price as analysts downgraded the stock after its poor second quarter numbers. The company reported a 4.5% year-on-year (YoY) rise in revenues to Rs 13,448 million, while net profit declined 39.5% YoY to […]
Analysts have given mixed reactions to Torrent Pharmaceuticals, which reported a 16% year-on-year increase in second-quarter revenue to Rs 26,600 crore, more than half of which came from India. Kotak and JM Financial have remained cautious on Torrent Pharma with unchanged ‘REDUCE’ and ‘HOLD’ ratings respectively. While JM Financial has not outlined estimate changes, Kotak […]
Even as the housing markets in major economies such as the US, China, the UK and Canada seem to have entered their worst phase in 15 years, things couldn’t be different in India. In the South Asian nation, housing demand never really recovered fully after the COVID-19 pandemic, but are starting to revive now. According […]
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 […]
Hindustan Unilever Ltd (HUL), India’s largest fast-moving consumer goods company, on Thursday reported a resilient performance for the second quarter of fiscal year 2023, beating analyst estimates on bottomline and operating profit. HUL’s net profit rose 4% year-on-year to Rs 2,717 crore, surpassing analyst expectations of Rs 2,570 crore. Net sales grew 4% to Rs […]
US Treasury yields have been climbing higher in recent weeks, with the benchmark 10-year yield surging to over 4.9% on Wednesday – its highest level since 2007. This relentless rise in bond yields reflects growing angst in financial markets about several key issues: the Federal Reserve’s monetary tightening path, stubbornly high inflation, bulging government borrowing […]
Royal Enfield, the two-wheeler division of Eicher Motors, is preparing for an exciting lineup of new motorcycle launches over the next few years. With a rich 120-year history and a strong heritage in building classic styled motorcycles, Royal Enfield has seen a resurgence in popularity and sales growth in recent years. However, it is also […]
Major Indian consumer packaged goods (CPG) companies are expected to report muted growth for the September quarter amid slowing demand, particularly in rural areas, and persistent high inflation, according to research reports from leading brokerages. Demand, Volume and Revenue Growth Brokerages forecast muted revenue growth for consumer packaged goods (CPG) companies in Q2FY24 amid slowing […]
