Adani Enterprises, Eicher Motors, Nykaa, SBI, SpiceJet, and Others

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The February futures contract of Nifty 50 traded on the Singapore Exchange indicates a positive start to domestic equities. The contract was trading at 17,820, up 31 points or 0.17% from the previous close.

Q3 Results today: Adani Enterprises, Eicher Motors, Grasim Industries, ONGC, Apollo Hospitals Enterprises, Aster DM Healthcare, Bata India, Bharat Forge, Biocon, Bosch, CESC, GMR Airports Infrastructure, Indiabulls Housing Finance, Ipca Laboratories, NBCC (India), NMDC, PI Industries, PNC Infratech, Prestige Estates Projects, Radico Khaitan, Siemens, Spencers Retail, SpiceJet, Swan Energy, and Torrent Power will be in focus ahead of quarterly earnings on 14 February.

FSN E-Commerce Ventures: The Nykaa Fashion operator has recorded a 71% on-year decline in consolidated profit at Rs 8.2 crore for the quarter ended December FY23, impacted by weak operating margin performance. Revenue from operations grew by 33.2% on-year to Rs 1,463 crore with strong GMV (gross merchandise value) growth of 37% on-year. On the operating front, EBITDA rose by 13.3% to Rs 78.2 crore with scale efficiencies in fulfilment and marketing expense, but EBITDA margin fell 94 bps to 5.34% for the quarter.

SBI, Adani group stocks: State Bank of India (SBI) on Monday said the fresh pledge of shares of three Adani Group companies was on account of the requirement to top-up the collateral for its coal mine project in Australia. The lender also clarified that it has not issued fresh loans to the group for the pledged shares. “No additional finance is extended by SBI against such shares pledged,” a SBI spokesperson said in a statement.

Zee Entertainment Enterprises: The media company has reported a 92% on-year decline in consolidated profit at Rs 24.31 crore for the quarter ended December FY23, dented by weak operating performance, lower topline and exceptional loss. Consolidated revenue from operations at Rs 2,111.2 crore fell by 0.07% compared to the year-ago period hit by lower advertisement revenue, but subscription revenue growth was strong at 13.2% in the same period. On the operating front, EBITDA fell by 27.5% on-year to Rs 343.8 crore with a margin decline of 615 bps in Q3FY23.

SpiceJet: In the share dispute case between SpiceJet CMD Ajay Singh and ex-promoter Kalanithi Maran, the Supreme Court on Monday directed the low-cost airline to invoke a bank guarantee of Rs 270 crore to pay Maran towards the dues from the arbitral award of Rs 572 crore. The apex court also directed SpiceJet to pay Rs 75 crore towards Maran’s claim of Rs 362 crore in interest dues.

Power Finance Corporation: The public sector company has recorded a 7.8% on-year increase in consolidated profit at Rs 3,860 crore for the three-month period ended December FY23, aided by a write-back of impairment on financial instruments. Net interest income for the quarter at Rs 7,218.7 crore declined by 7.1% compared to the year-ago period. The board has declared an interim dividend of Rs 3.50 per share for FY23.

NLC India: The coal mining company has posted a consolidated loss of Rs 406.7 crore for the December FY23 quarter dented by regulatory deferral account balances expenses, against a profit of Rs 231.1 crore in the year-ago period. Consolidated revenue for the quarter at Rs 3,679 crore jumped 35% over a year-ago period. On the operating front, EBITDA grew by 50.4% on-year to Rs 1,360 crore with a margin expansion of 387 bps for the quarter.

Linde India: The industrial gases company has reported a 62.3% on-year growth in consolidated profit at Rs 110 crore for the quarter ended December FY23, led by operating performance and partly by a low base. In Q3FY22, it had an exceptional loss of Rs 18.97 crore. Revenue for the quarter grew by 8.2% on-year to Rs 697 crore, while on the operating front, EBITDA jumped 13.4% on-year to Rs 167.8 crore with a margin expansion of 110 bps on-year.

Castrol India: The automotive and industrial lubricant manufacturing company has clocked a 2.5% on-year growth in profit at Rs 193.32 crore for the December FY23 quarter dented by weak operating performance. Revenue for the quarter at Rs 1,176 crore grew by 7.8% on-year. At the operating level, EBITDA fell by 5.8% on-year to Rs 250.6 crore with a margin contraction of 307 bps due to higher input cost.

SAIL: The steel production company has registered a 64.5% on-year decline in profit at Rs 542 crore for the quarter ended December FY23, impacted by lower topline and operating income. Revenue for the quarter at Rs 25,042 crore fell by 0.8% compared to the same period last year. At the operating level, EBITDA for the quarter dropped by 39% on-year to Rs 2,078.5 crore with a margin down by 517 bps. Numbers, barring topline, were better than analysts’ estimates.

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