Important earnings updates and stock in news for Tuesday
GlaxoSmithKline Pharmaceuticals: The company delivers 19 per cent revenue growth for the quarter ended June 30, 2021. It also decided to transfer Jodex and Ostocalcium brand rights to GSK Asia (consumer entity) for Rs 1,649 crore.
Zensar Technologies: Driven by strong business and operational focus, the company saw its revenue increase sequentially QoQ by 5.8 per cent in Q1FY22, and PAT by 10.9 per cent.
Orient Bell: The top-line growth grew by 103 per cent YoY in Q1FY22, led by new products, channel expansion, displays & digital tools. Lockdowns impacted volumes & profitability during Q1FY22. However, ASP increased by 6 per cent YoY and sequentially by 2 per cent, supporting sustenance of gross margin despite the increase in gas costs.
Biocon: Biocon Biologics partners with Adagio Therapeutics to advance antibodies for the prevention and treatment of COVID-19.
DLF: The company said it has been witnessing encouraging demand in the residential business. Since the pandemic, the inherent demand for homes has gone up, it has reaffirmed that home is the safest place and is an important asset class for most families. New sales bookings exhibited sustained performance sequentially and stood at Rs 1,014 crore, reflecting YoY growth of 567 per cent.
Vakrangee: The company is focussing on key growth initiatives of Strategy 2.0 such as scaling to 75,000 next-gen kendras as well as a digital strategy for enabling offline to online platforms through Bharat Easy Mobile Super App. Therefore, the board is of the view that the company has strong growth avenues in place and hence, it would be in the best interest of its shareholders that the maximum amount of free cash flows is re-invested in the business for future growth.
Vedanta: The company’s revenue in Q1FY22 jumped 79 per cent YoY to Rs 28,105 crore. EBITDA rose by a staggering 150 per cent YoY to Rs 10,032 crore. Net debt/EBITDA at 0.6x, lowest in the last four years. Net debt stood at Rs 20,261 crore, a reduction of Rs 6,989 crore compared to June 30, 2020.
Jindal Stainless: The board of directors approved a brownfield expansion plan for JSL to leverage the ready availability of world-class infrastructure in Jajpur, such as land, roads, railways, utilities, etc. The estimated Capex of this brownfield expansion is Rs 2,150 crore, which is less than one-third of greenfield Capex cost for the corresponding enhancement.
Jubilant FoodWorks: The company issued a clarification regarding the press release by RattanIndia Enterprises (RIEL). The company works with multiple businesses partners/vendors and therefore Revolt is one of the business partners for the company and its current share of business on electric vehicles is less than 10 per cent.
Prataap Snacks: The commercial production at the company's newly set up unit situated at Howrah (West Bengal) has commenced. The aforesaid unit has been set up for the production of extruded snacks, pellets, etc with a capacity of about 6,000 MT per annum.
Balkrishna Industries: HDFC Mutual Fund sold 38.7 lakh shares of company.
Kalpataru Power Transmission: Kalapataru Properties Private Limited pledge released of 5,00,000 shares.