Rounaq Bakshi notes

  Motilal Oswal Nifty India Defence Index Fund : Top 10 Holdings Bharat Electronics Limited 19.80%  Hindustan Aeronautics Limited 17.85%  Solar Industries India Limited 15.46%  Cochin   Shipyard  Limited 7.91%  Mazagon Dock Shipbuilders Limited 7.57%  Bharat Dynamics Limited 7.04%  Data Patterns (India) Limited 5.00%  Astra Microwave Products Limited 4.51%  Zen Technologies Limited 3.70%  Garden Reach Shipbuilders & Engineers Limited 3.18%

  Indus   Towers  Q2 PAT Up 71.7% Y-o-Y   Consolidated Revenues for the quarter at Rs. 7,465 Crores, up 4.7% Y-o-Y  Consolidated EBITDA was at Rs. 4,907 Crores, up 42.0% Y-o-Y and representing an EBITDA margin of 65.7%   Consolidated Profit after Tax for the quarter at Rs. 2,224 Crores, up 71.7% Y-o-Y   " We expect the performance to continue in the wake of network expansion plans of our customers over near to medium term. Guided by our strategic priorities and inherent capabilities, we remain confident of capitalizing on these opportunities and generating value for all our stakeholders." The Return on Capital Employed improved to 22.9% as against 14.0% on Y-o-Y basis.  The Q2 FY25 had a write back of Rs. 1,077 Crores in provision for doubtful receivables, aided by collections against past overdue   The Return on Equity (Pre-Tax) improved to 38.9% as against 20.4% on Y-o-Y basis [Return on Equity (Post Tax) improved to 29.0 % a...

  GMDC : Profit After Tax Q2FY24, up 69%  Gujarat Mineral Development Corporation Ltd, one of the leading Public Sector Enterprise in India in the mining sector  Profit After Tax came at Rs. 129.18 crore as against Rs. 76.46 crore in Q2FY24, up 69%  Profit After Tax came at Rs. 313.75 crore as against Rs. 291.11 crore in H2FY24    Additionally,  GMDC ’s commitment to rare earth element project, through the Ambadongar asset, positions the Corporation to play a crucial role in India’s critical mineral supply chain   Despite the extended monsoon and challenging conditions, core business in lignite has produced 39.55 MT in H1 FY25, representing a 44% increase compared to the same last year. This achievement reflects our precision and careful planning in mining operations   GMDC  reports highest ever Q2 revenue Rs 593 Crore in Q2FY25, up by 69% YoY Q2 Net Profit to Rs. 129.18 Crore Lignite production peaked to 16.59MT this quarter, ...

  GMDC : Maximising Lignite utilisation and Expanding Operations GMDC is dedicated to maximizing lignite production across five operational mines, with a key success being the resumption of production at the Tadkeshwar mine. This restart ensures a continuous supply to industrial partners. In pursuit of strategic goals, also progressing towards launching six new lignite mines by FY26~FY28 across Gujarat, with the vision of significantly boosting production capacity to meet the state’s future energy demands.

  GMDC  is set to enter the Rare Earth Elements (REE) sector Mining and Beneficiation at Ambadungar:  Developing one of the world’s largest rare earth deposits at Ambadungar in Gujarat’s Chota Udepur district.  This project includes an open-pit mine, processing plants, a tailings storage facility, and infrastructure for water and power supplies.  Also setting up workshops, offices, and modern residential facilities for workforce.  The Ambadungar deposits, rich in light rare earth elements (LREEs), will be processed to produce a mixed rare earth concentrate through stages of crushing, milling, conditioning, and flotation     Separation and Integrated Downstream Manufacturing at Bharuch:  The concentrate from Ambadungar will be transported to the REE Hub in Bharuch, India's first and one of the world’s finest facilities of its kind. Here, rare earth oxides like Neodymium, Praseodymium, Lanthanum, and Cerium will be converted into metals fo...

    GMDC :  Strategic Expansion Beyond Lignite  In line with vision to mitigate business risks and diversify portfolio,  GMDC  is committed to strengthening its capabilities in nonlignite minerals.  Goal is to increase the revenue contribution from non-lignite sources to 50%, thereby expanding customer base, enhancing revenue, and increasing market share.  By focussing on minerals such as silica sand, fluorspar, multi-metal, and limestone, aim to reduce dependence on lignite and ensure more holistic growth.  To pilot this transition, engaged Boston Consulting Group (BCG), a globally renowned consultancy firm, to conduct a comprehensive feasibility study      Expanding Mineral Mining Operations  GMDC  continues to mine essential minerals such as silica, bentonite, and ball clay, ensuring long-term supply continuity. Additionally, exploring opportunities in lead, copper, and zinc mining. Leveraging the latest techn...

  HUDCO :  “The New India – Infrastructure" The Government’s vision for $7 trillion economy by 2030 and Viksit Bharat by 2047 (Developed India by 2047) is poised to generate huge demand of funding for infra development with initiatives HUDCO ’s recently acquired NBFC-IFC status (from RBI), would further reinforce  HUDCO ’s role in mitigating funding gap for infrastructure development    Morgan Stanley in its recent report, “The New India – Infrastructure” has anticipated a 15.3 per cent compound annual growth rate (CAGR) in infrastructure investments, which is projected to result in a cumulative expenditure of in India over the next five years.  CRISIL Year Book 2023: India will spend nearly ₹ 143 lakh crore on infrastructure in seven fiscals through 2030, more than twice the ₹ 67 lakh crore spent in the previous seven starting fiscal 2017    

  Hudco  98% of the loan book consists of loan to Govt. and its agencies  Rating of AAA for Long Term Debt International Rating at par with Sovereign Rating  Loans to Govt. & its agencies: 98% of the loan book consists of loan to Govt. and its agencies  Govt. Guaranteed loans: 77% of the loans are backed by State Government Guarantee.      

  Hudco :Building Assets for Viksit Bharat Loan Book increased to ₹ 1,11,068 crore in Sep 2024 from ₹ 81,594 crore in Sep 2023, growth of 36%    Strategic Partner in supplementing efforts of Govt. of India – Housing for All, Smart City, AMRUT, Swachh Bharat, Jal Jeevan Mission, etc   Listed company with 75% ownership of Govt. of India.  A Navratna CPSE registered as NBFC-IFC with Reserve Bank of India.  

  HUDCO  signs MoU with Rajasthan government Rajasthan signs Rs 1 lakh crore MoU with  HUDCO  for infrastructure boost Housing & Urban Development Corporation  said it signed a non-binding memorandum of understanding (MoU) with the Rajasthan government.  Housing and Urban Development Corporation Limited ( HUDCO ) has signed a non-binding Memorandum of Understanding (MoU) with the Government of Rajasthan through its Department of Finance. The agreement, formalized on July 24, 2024, in Jaipur, aims to provide financial assistance for housing and urban infrastructure projects in Rajasthan, with a proposed funding of ₹1,00,000 crore over the next five years, subject to mutually agreed terms and conditions. Rajasthan signs Rs 1 lakh crore MoU with  HUDCO  for infrastructure boost "The MoU is an in-principle arrangement between the parties with the objective to provide financial assistance for housing and urban infrastructure projects in the state o...

  HUDCO  is targeting AUM of over ₹1.5 lakh crore by FY26 from a little over ₹84,000 crore now Housing and Urban Development Corporation ( HUDCO ) is targeting assets under management (AUM) of over  ₹1.5 lakh crore  by financial year 2026 (FY26) from a little over  ₹84,000 crore now. The state-run company provides financial assistance for housing and urban infrastructure development projects. Sanjay Kulshrestha, the Chairman and Managing Director said the long term target is to reach an AUM of  ₹5  lakh crore by 2030 keeping in mind the infrastructure and housing developments plans of the state government. He expects the net interest margin (NIM) to remain in the range of 3.0-3.5% and spreads to be between 1.75%-2%. Kulshrestha said the company is working on three aspects: reducing the cost of funds, resolving stress assets, and expanding the diversified loan assets. He sees a lot of opportunities for growth following the announcements in the housing a...

  PCBL  is down 30% Aquapharm Chemicals is a leading specialty water chemicals company focused on providing tailored solutions across consumer and industrial applications Manufacturing Plants in India, USA & Saudi Arabia Global partner of choice for 265+ customers across home care, industrial water treatment, oil & gas, pharma, textile and pulp & paper industries in more than 60 countries  Among top 3 producers (Ex-China # 2) of phosphonates globally - India’s largest phosphonate producer. Phosphonates accounts for over 50% revenue share in the overall product portfolio Attractive new segments and green chemistries to drive growth- green chelates, Hydroxyethylidene diphosphonic Acid (HEDP) Granulation Growth drivers – increased urbanization, ageing of oil wells, demand for clean water and tightening of environmental and other regulations Average length of relationship for top 50 customers is ~10 years  Cost-effective, and provides excellent protection aga...

  PCBL : Greenfield Project is commissioned with a manufacturing capacity of 1,47,000 MTPA Commencement of commercial production of first phase (63,000 MTPA) of the Greenfield Project, Co. is pleased to inform that the final phase (84,000 MTPA) of the Greenfield Project have been successfully commissioned today, i.e. 12th September, 2023 With this, the Greenfield Project is commissioned with a manufacturing capacity of 1,47,000 MTPA  INDUSTRY 4.0: Smart factory Solutions Smart Automation in new manufacturing unit in Chennai, Tamil Nadu to generate key analytics and dashboards, eliminate human error and improve safety Strong Focus on R&D for Expansion of High Margin Product Portfolio  7th Largest carbon black company globally and  Largest Carbon Black Company in India with  Domestic Capacity (KT) of  770  

PCBL : Manufacturing is the next big theme Total manufacturing capacity is projected to be 7,90,000 MTPA and 122 MW of green power from  6,66,000 MTPA  (  (Expected in FY 24)) Return on Capital Employed 16.27% Debt-Equity Ratio :  0.25   (%) EBItdA margin : 13% PAT:  444.09 Vs 427.14 Carbon black is a commonly used reinforcement compound in the tyre industry due to its ability to enhance the mechanical and dynamic properties of tyres Carbon black is used in multiple sectors worldwide, with the demand for it primarily driven by the tyre and rubber product industry. Additionally, carbon black is also extensively used in plastics and electrical applications, particularly in batteries, further contributing to the ongoing surge in its global demand    Under the Energia brand, we offer exceptional conductivity, superior dispersibility, and high purity. These grades cater to Conductive Polymer, Electrostatic Discharge (ESD), Wires & Cables, and Batte...

  Why Tata Group is God figure in business world Tata Group had to hold back growth investments and embark on debt reduction during Covid. What was your financial strategy? We exercised financial discipline during this time. Many advisers told us that liquidity would become a problem and advised us to raise capital. But we went with the contrarian approach. In one of the online meetings of group CEOs, we decided to manage the businesses with cash flows. We conserved cash and didn’t increase debt in any of the companies. I had frequent calls with CEOs at that time to discuss business. It was for understanding whether anyone had a problem. Tata Sons was ready to step in. We had communicated to companies since the beginning that the holding company would pump in money if they had any issues. But everyone managed and their numbers improved a lot. Project delays were not because of capital shortage but shortage of workforce. We were not getting workers at construction sites. But we...

  TATA  CHEMICALS : Holds 5000 cr investments on listed players of  Tata  group Page 228 of Annual report The Indian Hotels Co. Ltd.  Oriental Hotels Ltd.  Tata  Investment Corporation Ltd.   Tata   Steel  Ltd.  Tata  Motors Ltd.  Titan Company Ltd.

  Tata   Steel  signs £500 million Grant Funding Agreement with UK Government for £1.25 billion green  steel  project    Tata   Steel  announces that it has signed a £500 million Grant Funding Agreement with the UK Government allowing it to proceed at pace with the project to install a state-of-the-art Electric Arc Furnace at the Port Talbot steelworks in Wales.   As the largest investment in the UK  steel  industry for decades, the £1.25 billion project will safeguard UK’s  steel  sovereignty, secure  steel  making in Port Talbot and preserve 5,000 jobs. The new assets will reduce the UK’s entire industrial carbon emissions by 8% (and Port Talbot’s by 90%) while setting a benchmark in circularity, utilising UK scrap.  Alongside its planned £750 million investment,  Tata   Steel  has put its significant global engineering and project capabilities behind this project, which will benef...

  Tata   Steel  commissions India’s largest blast furnace at Kalinganagar Crude  steel  capacity at Kalinganagar to expand from 3 MTPA to 8 MTPA with an investment of Rs 27,000 crore  Odisha becomes  Tata   Steel ’s largest investment destination in India Tata   Steel  successfully commissioned India’s largest blast furnace at Kalinganagar, Odisha. With a total investment of Rs 27,000 crore, the Phase II expansion at Kalinganagar will take the total capacity at the site from 3 million tonnes per annum (MTPA) to 8 MTPA.  The new facility was inaugurated by T. V. Narendran, CEO and Managing Director,  Tata   Steel , in the presence of senior leaders of the Company.  The new blast furnace will significantly boost the plant's overall production capabilities, allowing  Tata   Steel  to meet the growing demands of various industries, including automotive, infrastructure, power, shipbuilding, and defence....

  Tata   Steel :  steel  demand continued to improve but domestic prices were under pressure due to cheap imports.  Global operating environment remained complex, with key regions facing subdued growth.  Macro-economic conditions in China continued to weigh on commodity prices including  steel .  In India,  steel  demand continued to improve but domestic prices were under pressure due to cheap imports.  Despite this,  Tata   Steel  has delivered broadly consistent performance, with India deliveries at 5.1 million tons for the quarter and 10.1 million tons for the half year.  Domestic deliveries rose by 6% for the quarter and 5% for the half year on YoY basis    Consolidated Revenues for 1HFY25 were Rs 1,08,676 crores. EBITDA improved by 25% YoY to Rs 13,046 crores with an EBITDA margin of 12%.   Net debt stands at Rs 88,817 crores Group liquidity remains strong at Rs 26,028 crores, which inclu...

  Tata  Investment Corporation:  32,000 cr investment portfolio vs 20,000 cr last yr The Consolidated profit after tax for the year amounted to ` 384.96 crore as compared to ` 251.75 crore for the FY 2022-23. Shareholders will be pleased to note that the “Value Created” has recorded a compounded annual growth rate (CAGR) of 19.32% vis-à-vis BSE 200 of 15.65% over the period March 31, 2009 to March 31, 2024. Total market value of quoted investments and estimated value of unquoted investments : 32,557 cr Vs 20,472 cr The investments in  Tata  companies, both listed and unlisted, are generally held for a longer term and may be considered as strategic in nature. The investments in Non- Tata  companies have been made by the Company in expectation to create value over the medium to long-term, while gains are realized after evaluation to augment its operating income for dividend distribution Company has realized gains at opportune times and reinvested th...

  IREDA Posts 67% Growth in Net Profit but stock is down 30% from top Key financial highlights for Q3, FY 2023–24 compared to Q3, FY 2022–23 are as follows: • Profit After Tax: ₹ 335.54 crores as against ₹ 200.75 crores (up by 67.15%) • Revenue from Operations: ₹ 1,253.20 crores as against ₹ 868.98 crores (up by 44.21%) • Loan Book: ₹ 50,579.67 crores as against ₹ 37,887.69 crores (up by 33.50%) • Net-worth: ₹ 8,134.56 crores as against ₹ 5,591 crores (up by 45.49%) • Net NPAs: 1.52% as against 2.03% (reduction by 25% in percentage terms) Gross NPAs: 2.90% as against 4.24% (reduction by 31.70% in percentage terms) 

 LT Foods: Why having market share is important LTF is the second-largest branded basmati rice player in India with a market share of 30.2% in India as of September 2023 and is the largest selling basmati brand in the US with more than 50% market share in FY23 and among the market leaders in European union, East Asia and Israel, according to the management. The company has widened its footprint through organic and inorganic routes, which include acquisitions of brands such as US-based Royal (2007), Hindustan Unilever Limited’s brands Gold Seal Indus Valley and Rozana (Middle East, 2016), 817 Elephant brand (Canada, 2017) and Golden Star brand (the US, 2022). It set up a manufacturing unit in the Netherlands to cater to the European market, and a ready-toheat facility in the US in 2018. The company has a strong product portfolio of more than nine brands, with the flagship brand, Daawat, commanding a high recall. The group has a track record of more than five decades in the basmati r...

  Indus  Towers : 360% degree turnaround Consolidated Revenues for the year at Rs. 28,601 Crores, up 0.8% Y-o-Y  Consolidated EBITDA for the year at Rs. 14,694 Crores, up 50.4% Y-o-Y  Consolidated Profit after Tax for the year at Rs. 6,036 Crores, up 195.9% Y-o-Y  Record tower additions help surpass milestone of 200,000 towers  Total Tower base of 219,736 with closing sharing factor of 1.68 Return on Equity (Post Tax) improved  to  25.1% as against 9.4% Y-o-Y basis The Return on Capital Employed improved  to  19.4% as against 11.0% on Yo-Y basis.  

  Dalmia Bharat Sugar :  Net Debt is Nil.  Key Highlights- H1'25  All time high revenue from operations Rs. 1,887 Cr, +20% YoY  Domestic sugar sales volume 3.4 LMT, +40% YoY  Average Sugar sales realization Rs. 38.6 per Kg, +5% YoY  Distillery sales volumes 8.2 Cr Liters, -17% YoY due to restricted sugar diversion  PAT Rs. 121 Cr, +4% YoY   Net Debt as on 30" Sept 24 is Nil.    Mr. Rastogi also expressed appreciation for the Union Government’s significant policy change, which allows sugar mills unrestricted use of cane juice/syrup and B Heavy molasses to produce ethanol during the upcoming Ethanol Supply Year (ESY) 2024-25. He noted, “This forward-thinking step will support our farmers as well as contribute to the country’s energy security and environmental sustainability.”   

  Dalmia Bharat Sugar: My top sugar pick  DBSIL reports resilient financial performance amidst ban on export of sugar and limited diversion of sugar for ethanol production with PAT of Rs. 272 Cr in FY 24 against Rs. 250 Cr in FY23 an increase of 9%.  Industry leading Operating EBIDTA margin of 14.9%.  Cane crushed qty has increased by 11.2% compared to FY23.  Sugar production has increased by 32.8% reaching to 6.35 LMT.  Increase in domestic sugar sales volume by 8.4% by reaching to 4.24 LMT.  Average Sugar sales realization improved by 2.3% on a blended basis (including exports)  Highest ever distillery sales volumes of 17.7 Cr liters, 7% increase over last year.  Commercial production at wholly owned subsidiary, Baghauli Sugar and Distillery Limited has commenced in Q4 in record time.  Grain distillery capacity increased to 250 KLPD from 110 KLPD. 

  Shipping Corporation of India Limited (SCIL): Hidden gems of India Further, the profitability is likely to remain vulnerable to the weakness in the global economy as marked by continuous deterioration in operating profit margin to 26.86% in FY23 as against 30.62% in FY22 and 32.11% in FY21   PAT margin  declined to 15.02% in FY23 as against 17.25% and 18.82% in FY22 and FY21 respectively   The business operations of the company remained stable over the years marked by healthy growth in revenue from operations by ~25% CAGR over FY21-23 period  The debt/equity of the company improved and stood comfortably at 0.37x and 0.53x as on 31 March 2023 and 31 March 2022 respectively The cash accruals of the company are estimated to remain around Rs.1676-2093 Cr. during FY2024-26 period against the maturing debt obligations of Rs.300-600 Cr. over the same period Strategic importance to Government of India  With more than six decades of operational track rec...

  Great Eastern Shipping Company: largest private shipping company in India GESCO is the largest private shipping company in India and is promoted by Sheth brothers and Bhiwandiwallas  With almost 59% fleet (in terms dwt) deployed in the tanker segment, favourable charter rates are likely to further augment the cashflow position   Following the European  Union 's ban on Russian oil, the import of Russian oil has shifted primarily to Asia, particularly China and India.  This shift has resulted in higher demand for tankers.  Resultant demand increased charter rates to historical highs in FY23.  Strong rates in the tanker segment continued in FY24, with trade disruption caused due to Russian Ukraine war continuing.  Events such as red sea attacks, which diverted the tanker to Cape of Good Hope has increased the overall tonne mile demand.   GESCO has, over the past few years, moved from time charter (assured long-term agreements) to spot mar...

  Union   Bank  of India: Less than 10 PE Strong Financial Performance: Net Profit of the  Bank  increased by 34.43% on YoY basis during Q2FY25. Non-interest income of  Bank  grew by 44.19% on YoY basis during Q2FY25. Reduction in NPA: Gross NPA (%) reduced by 202 bps on YoY basis to 4.36% and Net NPA (%) reduced by 32 bps on YoY basis to 0.98% as on September 30, 2024 Bank  continues to demonstrate a strong Liability franchise: Domestic deposits have increased by 8.12% YoY.  Bank  now have a total deposits base of Rs.12,41,947 Crores as on September 30, 2024.  Growth in Retail, Agri and MSME (RAM) segments: RAM Segment of the  Bank  increased by 12.31% YoY, where 14.33% growth in Retail, 15.96% growth in Agriculture and 5.24% growth in MSME advances is achieved on YoY basis. RAM advances as a percent of Domestic Advances stood at 58.71%.  Improved Returns:  Bank ’s Return on Assets & Return on Equity stands ...

  MAHARASHTRA SEAMLESS : Sitting on 2,200 cr cash on books In India, there is a sustained demand from ONGC & Oil India.  Market sources indicate that around 500 new onshore and offshore wells are drilled every year.  Taking a conservative estimate of seamless pipes requirement of 200 mt per well, estimate fresh requirement of 100,000 mt per year.  This is in addition to the regular requirement generated from development and work over wells.  Offshore jack up rigs operating in India have increased to 34 in 2024 v/s 27 in 2022 indicating increased capital expenditure in oil & gas sector. Large tenders for ERW pipes have been floated by BPCL,  GAIL , Indraprastha Gas and Assam Gas for oil and gas applications. More tenders are expected for Gurdaspur to Srinagar pipeline, Tinsukia to Doom Dooma pipeline and City Gas Distribution projects in 10th & 11th rounds in majority of states.

  GAIL  has witnessed its highest-ever half-yearly EBITDA, PBT & PAT in H1 FY’2025. The Company has incurred a Capex of Rs 1,885 crore during the current quarter, mainly on Pipelines, Petrochemicals etc., taking cumulative capex upto H1 FY25 to Rs 3,544 crore. On Consolidated basis, Revenue from Operations stood at Rs 68,803 crore in H1 FY25 as against Rs 65,898 crore during H1 FY24.  PBT in H1 FY25 stood at Rs 7,583 crore as against Rs 5,421 crore in H1 FY24.  PAT (excluding Noncontrolling interest) was Rs 5,876 crore in H1 FY25 as against Rs 4,236 crore in H1 FY24.  

  GACL-NALCO Alkalies & Chemicals Pvt. Ltd.  The Company and NALCO, have jointly incorporated a Joint Venture Company, viz., GACL-NALCO Alkalies & Chemicals Pvt. Ltd. (GNAL) for setting up 2,66,667 MTPA (100%) Caustic Soda Plant and 130 MW Coal based Power Plant at Dahej, Gujarat.  The Company holds 60% and NALCO holds 40% in GNAL  GNAL has, on 30th March 2022, successfully completed the start-up of the 200 TPD (ton per day) CEU (Caustic Evaporation Unit) and has produced 100 MT Caustic Soda of 48.5% concentration and with the same, the CEU Unit was partially commissioned.  The Captive Power Plant and the Caustic Soda Plant have been commissioned progressively in a phased manner during the current Financial Year 2022-23   Memorandum of Understanding  between GACL and  GAIL  (India) Limited  The Hon’ble Prime Minister has launched a Roadmap for 20% Ethanol Blending in Petrol by 2025, with a view to reduce import of crude oil ...

Engineers india investment in Ramagundam Fertilizer plant Modi's #Aatmanirbhar Bharat ·           Hon’ble Prime Minister of India Shri Narendra Modi on November 12 dedicated to the nation, Ramagundam Fertilizer plant - a Gas based Urea Manufacturing Fertilizer Plant at Ramagundam, Peddapalli Telangana, with capacity of 2200 MTPD Ammonia Unit and 3850 MTPD Urea Unit. This is a big step towards #AatmaNirbhar Bharat and would reduce the import dependence of fertilizer in the country and achieve self-sufficiency in urea sector.   ·           This will be one of the largest fertilizer manufacturing units of South India and would not only improve the availability of fertilizer to farmers but also give a boost to the economy in the region.   ·           Ramagundam Fertilizers and Chemicals Limited (RFCL) has been incorporated as a joint venture compan...

  SJS Enterprises:  PAT grew 53.7% YoY H1 FY2025   H1 FY2025 Key Performance Highlights (Consolidated):    Remain confident in ability to exceed the underlying industry growth by more than 1.5 times while maintaining best-in-class margins   Capacity expansion at the Exotech facility has been finalized, with the plant expected to be commissioned by Q1 FY26 Consolidated ROCE stands at 24.3% and ROE at 18.7%  PAT grew 53.7% YoY to ₹573.9 Mn, with margins at 15.0%  Repaid a Term loan of Rs. 300.0 Mn, making the company Debt Free Continued winning new business with mega customer accounts like Stellantis, M&M, TVS, HMSI, Yamaha, Hyundai, IFB, Autoliv,  Bajaj  Auto, Visteon, Liebherr, BMW, Triumph, Royal Enfield, Dixon among others    Strong revenue growth of 36.0% YoY to ₹3,814.1 Mn, compared to 13.3% YoY growth in automotive market (2W+PV), primarily on back of strong business growth in PV, consumer segments as well as...

  Bajaj  Housing Finance : PAT for Q2 FY25 increased by 21% Performance Highlights for Q2 FY25 BHFL enjoys the highest credit rating of AAA/Stable for its long -term debt programme from CR ISI L and India Ratings and A1+ for short-term debt programme from CR ISIL and India Ratings.  Annualized return on average equity for 02 FY25 was 13.0% as against 16.1% in 02 FY24.  Annualized return on average assets for 02 FY25 was 2.5% as against 2.6% in 02 FY24.  Gross NPA and Net NPA as of 30 September 2024 stood at 0.29% and 0.12% respectively, as against 0.24% and 0.09% as of 30 September 2023. Provisioning coverage ratio on stage 3 assets at 58% .  Assets under management grew by 26% to ~ 1.02,569 crore as of 30 September 2024 from 81,215 crore as of 30 September 2023.   Profit after tax for Q2 FY25 increased by 21% to , 546 crore from , 451 crore in Q2 FY24.

  Nippon India Nifty Auto ETF (AUTOBEES) India is a developing country where the majority of vehicle ownership is still for the two-wheeler market. If we talk about the overall percentage, only  7.5% of Indian households own a car . On the other hand, more than 55% of the population possess a bicycle, scooter or motorbike Tata 19.79 Mahindra & Mahindra 19.51 Maruti Suzuki - MNC 16.00 Bajaj 9.53 Eicher 5.95 Hero 5.58 TVS Iyengar 4.53

  Maharashtra Seamless: Market share of 55% in seamless pipes segment Market share of 55% in seamless pipes segment Capacity utilisation of pipe segments has started to improve from Q4 FY 2023 due to higher efficiency and strong demand EBIDTA margin : 18% PAT margin: 13% Net Debt : (469) cr There will be no requirement of any debt to fund above capital expenditure and working capital requirements . Total capital expenditure : 852 cr The seamless & ERW pipes sector is getting a major boost from Make in India and Atma Nirbhar Bharat policy. Under this policy, for any purchases made by PSUs, there must be a minimum 35% local value addition in supply of pipes which benefits domestic manufacturers Orders from USA and Canada are steady and they remain our largest export markets Large tenders for ERW pipes have been floated by BPCL, Indraprastha Gas, HPCL and Assam Gas for oil and gas applications Regular supplies have started to the largest CNG cylinder manufactur...

  KEC International:  PAT grows by 53% in Q2 and 76% in H1 KEC International Ltd., a global infrastructure EPC major, part of RPG Group   KEC Delivers Robust Performance across Parameters Revenue grows by 14% in Q2 and 10% in H1 FY25 Substantial growth in Profitability  PAT grows by 53% in Q2 and 76% in H1 Impressive growth in Order Intake of 50%  YTD Order Intake of ~Rs. 13,500 crore Highest ever Order Book + L1 as on date of over Rs 42,500 crore     PAT Margin: 1.8% against 1.1% EBITDA Margin: 6.4% against 5.9%  Net Debt including Acceptances stands at Rs. 5,265 crore as on 30 Sept’24, a reduction of Rs. 1,074 crore vis-àvis Sep 30, 2023, despite a Revenue growth of ~Rs 2,000 crore, i.e., 12% in trailing 12 months    

  IRCON  :  coach manufacturing by Modern Rail Coach Factory, Raebareli In a remarkable achievement for the  Indian Railways , Mordern Coach Factory in  Rae Bareli  has set a record of manufacturing 10,000 coaches since its inception in April 2023 The factory was planned at a total cost of Rs 3,192 crores with an annual capacity of 1,000 coaches. The foundation stone of the factory was laid in 2007 and the construction work started in 2009. It is the third rail coach manufacturing unit of the Indian Railways at Lalganj near Raebareli in Uttar Pradesh. besides Integral Coach Factory in perambur in Tamil Nadu and Rail Coach factory at Kapurthala in Punjab, this factory has been serving to the needs of the Indian Railways since its inception on November 7, 2012.\ Besides manufacturing stainless steel LHB coaches for the Indian railways, the MCF has been designing modern day coach including train sets, metro coaches, alluminium body coaches, bullet train coache...