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Hero Motocorp - Auto sales for July 2020

Hero Motocorp Auto sales update In a market environment that continues to be volatile, Hero Mo

Hero Motocorp Auto sales update

  • In a market environment that continues to be volatile, Hero MotoCorp sold 514,509 units of motorcycles and scooters in July 2020. 
  • The Company registered a sequential growth of 14% over the previous month (June 2020) and reached more than 95% of wholesale dispatch numbers of the corresponding month in the previous year (July 2019).
  • In keeping with its vision to “Be the Future of Mobility”, Hero MotoCorp made an additional investment of Rs. 84 crore (US$11million) in Ather Energy, taking up its shareholding in the Company to 34.58%, up from 31.27%.

Escorts - Auto Sales for July 2020

Escorts Auto sales Escorts Ltd Agri Machinery Segment (EAM) in July 2020 sold 5,322 tractors regist

Escorts Auto sales

  • Escorts Ltd Agri Machinery Segment (EAM) in July 2020 sold 5,322 tractors registering a growth of 9.5 percent against 4,860 tractors sold in July 2019.
  • Domestic tractor sales in July 2020 at 4,953 tractors registering a growth of 9.9 percent against 4,505 tractors in July 2019.
  • Export tractor sales in July 2020 at 369 tractors registering a growth of 3.9 percent against 355 tractors sold in July 2019.

Just Dial - Disclosure of material impact of CoVID-19 pandemic on the Company

A. Impact of COVID-19 on business operations: As a result of lockdown imposed by the Government owi

A. Impact of COVID-19 on business operations:

As a result of lockdown imposed by the Government owing to COVID-19, the Company closed its offices from March 23, 2020 and moved to Work-from-Home (WFH) for all employees. Post lockdown relaxations, Company has opened its offices across India with limited workforce in line with Government’s directives issued from time to time.

B. Impact of COVID-19 on traffic and monetization

To optimize discretionary costs, company had curtailed its advertising spends (both digital and non-digital) from Apr-20. For the month of Apr-20, average daily traffic declined ~48% versus Feb-20 (pre-COVID period) levels. For the month of Jul-20, average daily traffic was down ~12% versus Feb-20. However, since majority of traffic is presently coming organically (without advertising), on a like-for-like basis, Jul-20 organic traffic has surpassed pre-COVID levels (Feb20). Overall, for 1Q FY21, quarterly unique visitors declined 36% YoY and 28% QoQ.

In order to assist SMEs in these unprecedented times, the company launched various offers on its paid campaigns during the period, including better discounts, flexibility in activation of their campaign (post lockdown), better payment terms, etc. As a result, the company was able to arrest COVID-19 impact on 1Q FY21 monetization (Collections) to a decline of 52% YoY and 43% QoQ. With lockdown easing, monetization is improving and the impact of any revised lockdown/ restrictions in certain geographies is being monitored.

C. Optimization of Operating Costs and focus on automation

While prioritizing safety and well-being of its employees, the Company is extensively leveraging technology for its operations. While the Company has a strong Balance Sheet and robust cash position, the Company is re-evaluating all costs and optimizing the same. The company is focusing even more on automated processes to enable it to successfully navigate the ongoing uncertainties and emerge stronger

D. Liquidity Position

The Company has a strong Balance Sheet and robust cash position ensuring enough liquidity to continue its operations and does not expect that it will face any liquidity crunch.

E. Assets 

The Management has made detailed assessments of recoverability and carrying values of its assets comprising of property, plant and equipment, investments and other current assets as at June 30, 2020 and on the basis of the evaluation, has concluded that there is no significant impact on its financial results as on June 30, 2020. However, the impact assessment of COVID-19 shall be an ongoing process given the uncertainties associated with its nature and duration.

F. Internal financial reporting and control : No Impact

MRPL to consider raising of funds

The Board meeting is scheduled for 4th August 2020 to consider Q1 FY21 Results. Further to this, an

The Board meeting is scheduled for 4th August 2020 to consider Q1 FY21 Results.

Further to this, an agenda item for raising of funds of upto �5,000 Crore (Rupees Five Thousand Crore) through issue of Non-convertible Debentures (NCDs) will be placed before the Board Meeting to be held on 4th August, 2020.

Zydus Cadila receives tentative approval from the USFDA for Carbidopa and Levodopa Extended-Release Capsules

Zydus Cadila has received tentative approval from the USFDA to market Carbidopa and Levodopa Extende

Zydus Cadila has received tentative approval from the USFDA to market Carbidopa and Levodopa Extended-Release Capsules (US RLD - Rytary®) in the strengths of 23.75 mg/95 mg, 36.25 mg/145 mg, 48.75 mg/195 mg, and 61.25 mg/245 mg.

This medication is used to treat the symptoms of Parkinson›s disease (such as shakiness, stiffness, difficulty moving) or Parkinson-like conditions. The drug will be manufactured at the group’s formulation manufacturing facility at SEZ, Ahmedabad.

The group now has 295 approvals and has so far filed over 390 ANDAs since the commencement of the filing process in FY 2003-04.

VA TECH WABAG - Q4 FY20 Results update

VA TECH WABAG - Q4 FY20 Results update Full read: Va Tech Wabag Q4FY20.pdf (955.47 kb)

VA TECH WABAG - Q4 FY20 Results update

Full read: Va Tech Wabag Q4FY20.pdf (955.47 kb)

Vinati Organics - Q1 FY21 Results update

Vinati Organics - Q1 FY21 Results update Full read: Vinati Organics Q1FY21.pdf (1.36 mb)

Vinati Organics - Q1 FY21 Results update

Full read: Vinati Organics Q1FY21.pdf (1.36 mb)

Maruti Suzuki - Auto Sales for July 2020

Maruti Suzuki Auto sales update Maruti Suzuki India Limited posted total sales of 108,064 units in

Maruti Suzuki Auto sales update

  • Maruti Suzuki India Limited posted total sales of 108,064 units in July 2020. This is a growth of 88.2% over June 2020 and a fall of 1.1% over July 2019.
  • This includes domestic sales of 100,000 units and 1,307 units for other OEMs in the domestic market.
  • In addition, the Company exported 6,757 units in July 2020.

Mahindra & Mahindra - Auto Sales for July 2020

Mahindra Auto Sales In the Passenger Vehicles segment (which includes UVs, Cars and Vans), Mahindra

Mahindra Auto Sales

  • In the Passenger Vehicles segment (which includes UVs, Cars and Vans), Mahindra sold 11,025 vehicles in July 2020, compared to 16,831 vehicles in July 2019.
  • In the Commercial Vehicles segment, the company sold 13,103 vehicles in July 2020, as against 15,969 vehicles in July 2019.
  • Exports for the month of July 2020 were at 1,467 vehicles.

 

Mahindra Farm Equipment Sales

  • Domestic sales in July 2020 were at 24,463 units, as against 19,174 units during July 2019.
  • Total tractor sales (Domestic + Exports) during July 2020 were at 25,402 units, as against 19,992 units for the same period last year.
  • Exports for the month stood at 939 units.

 

Jain Irrigation - Q4 FY20 Results update

Jain Irrigation - Q4 FY20 (Cons) update Financial Year Key Highlights: Consolidated Revenue

Jain Irrigation - Q4 FY20 (Cons) update

Financial Year

Key Highlights:

  • Consolidated Revenue was at INR 16,362 Mn in Q4 FY20 on yoy basis, Standalone Revenue was at INR 3,825 Mn
  • Consolidated EBIDTA was at INR 338 Mn in Q4 FY20, Standalone EBITDA was at INR (354) Mn
  • Consolidated PAT was at INR (3,242) Mn in Q4 FY20, Standalone PAT was at INR (2,283) Mn
  • Consolidated Revenue was at INR 62,158 Mn in year ended FY20, Standalone Revenue was at INR 19,588 Mn
  • Consolidated EBIDTA was at INR 3,018 Mn in year ended FY20, Standalone EBITDA was at INR 331 Mn
  • Consolidated PAT was at INR (7,194) Mn in year ended FY20, Standalone PAT was at INR (5,083) Mn
  • Global order book now stands at over INR 43 billion

Full read: Jain Irrigation Q4FY20.pdf (1,000.95 kb)

Press Release: Jain Irrigation Q4FY20 Results Press Release.pdf (601.41 kb)

NIIT Limited - Disclosure on Impact of Covid-19 Pandemic

Impact of the CoVID-19 pandemic on the business In NIIT’s B2C business, learning centers have

Impact of the CoVID-19 pandemic on the business

  • In NIIT’s B2C business, learning centers have remained under lockdown in accordance with government regulations and safety requirements. Inperson instructor led learning activity has been restricted since Q4 FY20
  • NIIT’s B2B business worldwide saw cancellations and deferrals by corporates of planned in-person instructor led training events starting early March. In India, the impact is higher due to slower adoption of Digital and slow pace of hiring


Ability to maintain operations including the factories/units/office spaces functioning and closed down

  • Learning centers remain closed in accordance with government regulations and safety requirements. The Company has enabled Work from Home globally for its workforce, which continues to provide services to NIIT's customers.
  • Given the increase in adoption of digital learning, in Q1FY21, the Company has achieved revenue and EBITDA levels similar to Q1 FY20. This is driven by 17% YoY growth in revenue from corporate learning in Q1 FY21

 

Schedule, if any, for restarting the operations

The timeline for opening of education centers is not known at this point of time. However, learning has been transitioned to Digital, and available across B2C and B2B learners


Details of impact of CoVID-19 on listed

  • Capital and financial resources: No Impact
  • Profitability: EBITDA margin has recovered in Q1 FY21 after a sharp decline Q4 FY20
  • Liquidity position: No Impact
  • Ability to service debt and othefinancing arrangements: No Impact
  • Internal financial reporting and control: No Impact
  • Supply chain: No Impact
  • Demand for its products/services: Please refer to results for Q1 FY21

Full read: NIIT Disclosure on impact of covid19.pdf (851.15 kb)

NIIT Limited - Q1 FY21 Results update

NIIT Limited - Q1 FY21 Results update * Q1FY20 PBT includes Exceptional income of INR 1311.73 Crore

NIIT Limited - Q1 FY21 Results update

* Q1FY20 PBT includes Exceptional income of INR 1311.73 Crores from Gain on disposal of investment in associate

Full read: NIIT Q1FY21.pdf (5.05 mb)

Sun Pharmaceutical Industries - Q1 FY21 Results update

Sun Pharma - Q1 (Cons) update Highlights of Q1FY21 consolidated financials Consolidated sale

Sun Pharma - Q1 (Cons) update

Highlights of Q1FY21 consolidated financials

  • Consolidated sales from operations at Rs. 7,467 crores, a decline of about 9.6% over same quarter last year.
  • India sales at Rs. 2,388 crores, growth of 3.2% over Q1 last year.
  • US finished dosage sales at US$ 282 million, down by 33.5% over Q1 last year. Sales for Q1 last year included a one-time contribution from the special business in US and hence the numbers are not strictly comparable.
  • Emerging Markets sales at US$ 173 million, a decline of 10.5% over Q1 last year.
  • Rest of World sales at US$ 136 million, down by 18.5% over Q1 last year.
  • R&D investments at Rs. 421 crores (5.6% of sales) compared to Rs. 422 crores (5.1% of sales) for Q1FY20.
  • EBITDA at Rs. 1,725 crores, with resulting EBITDA margin of 23.1%.
  • Excluding the exceptional items of Rs. 3,633 crores (and its minority interest of Rs. 832 crores), adjusted net profit for Q1FY21 was at Rs. 1,146 crores with resulting net profit margin at 15.3%. Reported net loss for quarter was at Rs. 1,656 crores due to the exceptional items mentioned above.

Full read: Sun Pharma Q1FY21.pdf (478.95 kb)

Press Release: Sun Pharma Q1 Results Press Release.pdf (478.95 kb)

Future Enterprises - Ratings revised by CARE

The rating agency, CARE Ratings Limited has downgraded the banking facilities availed by Future Ente

The rating agency, CARE Ratings Limited has downgraded the banking facilities availed by Future Enterprises with an observation of "credit watch with developing implications".

The reason stated for downgrade was the weakening of business and financial risk profile on account of extended lockdowns due to the COVID-19 crisis.

Full read: Future Enterprises - Ratings 31-Jul.pdf (383.93 kb)

Indian Oil Board gives go-ahead for Rs. 13,805 crore integrated PX-PTA complex at Paradip

The IndianOil Board has given its go-ahead for the implementation of an Integrated Para-Xylene (PX)

The IndianOil Board has given its go-ahead for the implementation of an Integrated Para-Xylene (PX) and Purified Terephthalic Acid (PTA) complex project at Paradip, Odisha, at an estimated investment of Rs. 13,805 crore at the Board meeting held here today. The PX-PTA complex shall be integrated with Indian Oil’s Paradip Refinery, which is operational since 2015.

The PX/PTA project will be completed by early 2024. The petrochemicals complex will have a PX production capacity of 800,000 tonnes per annum, which would be the feedstock for production of PTA. The production capacity of PTA would be 1,200,000 tonnes per annum. PTA is the raw material for the production of polyester along with MEG. IndianOil’s MEG production facility is already under implementation at Paradip and will become operational towards the end of 2021.

The availability of both PTA and MEG at Paradip will give a boost to polyester manufacturing facilities in the vicinity. Also, 50,000 tonnes per annum of Toluene will be produced. With the commissioning of both PTA and MEG projects, the Petrochemical Intensity Index of Paradip Refinery will increase to 14.7 from the present level of 4.5.

PTA is a major raw material for manufacture of polyester fibre/yarn, PET bottles and polyester film used in packaging applications. PTA and MEG combined are the main feedstocks for polyester manufacture. The Petroleum, Chemical and Petrochemical Investment Region (PCPIR) of Paradip, Odisha, will have both these feedstocks of world-class quality available under one roof.

Full read: Indian Oil - Paradip integrated complex.pdf (1.01 mb)

Future Retail ratings downgrade by Acuité Ratings & Research

The rating agency, Acuité Ratings & Research Limited has downgraded Future Retail's Comme

The rating agency, Acuité Ratings & Research Limited has downgraded Future Retail's Commercial Paper (short term) and Proposed NCDs (long term).

The reason for downgrade was stretched liquidity position as evident from recent developments which was primarily driven by the continued lockdowns due to the COVID-19 crisis.

Full read: Future Retail - Ratings 31-Jul.pdf (419.35 kb)

Godrej Agrovet - Q1 FY21 Results update

Godrej Agrovet - Q1 (Cons) update Full read: Godrej Agrovet Q1FY21.pdf (1.26 mb)

Godrej Agrovet - Q1 (Cons) update

Full read: Godrej Agrovet Q1FY21.pdf (1.26 mb)

Kalpataru Power Transmission - Element 1 & 3 OF Kohima-Mariani Transmission Limited successfully commissioned

Kohima-Mariani Transmission Limited (KMTL) has successfully completed and declared Scheduled Commerc

Kohima-Mariani Transmission Limited (KMTL) has successfully completed and declared Scheduled Commercial Operations of Element-1 (New Kohima Substation) and Element-3 (New Kohima - New Mariani Line).

KMTL was established to set-up transmission system under North Eastern Region Strengthening Scheme (NERSSVI) on BOOM basis. The project involved design, financing, construction, commissioning, operation and maintenance of 400 KV transmission line and substation. The transmission line passes through three states i.e. Manipur, Nagaland and Assam and comprises of three elements namely New Kohima Substation (Element 1), Imphal-New Kohima Line (Element 2) and New Kohima - New Mariani Line (Element 3). The Element-2 (ImphalNew Kohima Line) has achieved significant progress and is fast nearing completion. KMTL has won this BOOM in a competitive bidding process conducted by PFC Consulting Limited (PFCCL).

KMTL is a joint venture between KPTL and Techno Electric & Engineering Company Limited (TEECL) with KPTL holding 74% of equity.