GLOBAL CUES
Global cues strong; SGX and Asia trade flat
Crude rallies for 3rd day; Chinese commodities higher
NIFTY RESULTS
Bharat Petroleum Corporation, Nestle India
OTHER RESULTS
Apollo Hospitals Enterprise, Vodafone Idea , Page Industries , Lemon Tree Hotels , Lux Industries , Hindustan Aeronautics
RESULTS ANNOUNCED
IRCTC
Revenue up 64.6%, Net profit up 2.8x, EBITDA up 2.7x
Tax rate at 24% vs 37% last year which aided profits
Raw material as percentage of sales lower which aided margins
Revenue growth led by Internet Ticketing biz; Catering growth modest
Internet Ticketing revenues grew due to the reintroduction of service charge
Service charge was reinstated from 01 Sep 2019 which was stopped post demonetisation
Ashok Leyland
Results below estimates
Revenue down 36.5%, Net profit down 92.7%, EBITDA down 65.3%
RM Costs as % of Sales at 73.5% vs 70.1% impacting margins
Margin hit attributable to higher discounting & inventory correction
Volume growth was for Q3 was -29%
Aarti Industries
Revenues down 4.5%, Net profit up 4.6%, EBITDA flat
Margins improved marginally due to lower RM Costs
Speciality Chemical Segment Revenue up 2%
Pharma Segment Revenue up 3%
Dish TV
Revenue down 42.8%, EBITDA down 5%, Net loss at Rs 64.5 cr
Margins better on lower operating costs and IND AS
Subscription Revenue down 43.5%
Natco Pharma
Revenue down 13.4%, Net profit down 34.5%, EBITDA down 38.2%
Margins lower due to higher employee expenses and other expenses
Revenues majorly impacted by Exports Formulations
Both API and Domestic Formulations biz show revenues drop
Torrent Power
Revenue down 5.4%, EBITDA up 14.1%, Net profit up 77%
Margins expand due to lower electrical energy purchase costs
Profits higher on tax reversal
PI Industries
Revenue up 20.1%, Net profit up 12.4%, EBITDA up 25%
Revenue growth on strong performance in both domestic and exports
Higher acreages across key crops during Rabi season aided volumes
STOCKS TO WATCH
Yes Bank
Delayed its quarterly results and will publish Q3 results on March 14
Delay as the bank is engaged in capital raising
Godrej Properties
Will challenge the National Green Tribunal’s order quashing environmental nod granted to one of its housing project in Bengaluru
General Insurance Corporation of India
Obtained license from Bank of Russia for commencement of reinsurance business in Russia
Rico Auto Industries
Started commercial production of its new plant in Alwar to manufacture and supply auto components, from January 1
PNC Infratech
Declared L1 Bidder for HAM Project in Uttar Pradesh for a bid cost of Rs 2052 crore
Chalet Hotels
Deleted from MSCI India Domestic Small Cap Index
By: via @AlliesFin Serve T.ME/ALLiESFiN
