Category: Breaking Corporate India Earnings News

India’s Feb inflation rose to 8.3% ahead of consensus estimates of 7.8%. The trends in the Fuel Index and Primary Articles were in line with weekly readings, the rise in Manufactured Products (+4.9% vs. 3.8% last month) was the key reason for the (more…)

BHEL reported 3QFY11 net sales of Rs88.5bn up 25% YoY, EBITDA margins of 21.4% up 126bps YoY, and PAT of Rs14bn up 31% YoY. Adjusting for the change in accounting, Adj. PAT at Rs13.4bn was up 25% YoY, 10% ahead of CIRA and 4% ahead of consensus.

Quality of earnings was better with 21% fall in treasury (more…)

Larsen & Toubro’s (L&T) Q3FY11 PAT, at Rs 8.1 bn, driven by strong execution in the E&C segment. Robust revenue growth of 41% YoY reinforces confidence in execution of strong order book of Rs 1,149 bn. Margins have dipped YoY by 150 bps to 10.8%, but this is more a qtly fluctuation than a trend. While revenue guidance has been maintained (20% YoY growth in FY11E), mgmt has highlighted that order flow guidance (25% YoY growth) could be at risk due to deferment of orders to FY12E.

L&T removed order for IT parks of ~Rs20bn from Godrej & Arun Excello on lack of progress. Led by delay of orders from power (more…)

The country’s watchdog – SEBI settled dispute of Reliance Infra & Reliance Natural Resources involved in fund diversion to group company – RCom by collecting fine amounting to Rs 50 [Rs 25 cR + Rs 25 cR] Cr from Directors including Anil Ambani. This tells us how bad these companies are run – Reliance Infra and RNRL [Now part of Reliance Power] Reliance ADAG Large Cap Stocks were caught in Bloodbath on the Street with each of them falling between 6% to 10%.

The SEBI order said that (more…)

HDFC reported F3Q11 PAT of Rs 8.9 bn (+33% YoY / +10% QoQ) This was higher than estimate of Rs. 8.2 bn though it included capital gains (pre-tax) of Rs 1.67 bn [Sale of IL&FS Investment]. Headline loan growth accelerated to 20.6% YoY from 18.7% in the previous quarter and adjusted loan growth (i.e. including sell-downs) picked up to 27% from 24%.

Housing Loan Growth – is picking up for HDFC Ltd after being subdued for most part of last year. Balance sheet loan growth has picked up from 9% YoY in 3Q FY10 to (more…)

As per an industry journal (Indian Petro), RIL has informed DGH that it will not be able to ramp up gas production from its KG D-6 block beyond 50 mcm/d until FY2014E. The company has highlighted that there are some serious reservoir issues including water ingression in wells, sand interference and pressure depletion.

This development, if confirmed, poses a risk to Reliance’s earnings (more…)