ONGC Q4 Profit Takes One-Off Hit, BHEL Misses Estimates—Earnings Wrap

Here are the major corporate earnings announced after market hours on May 26:

ONGC Q4 FY23 (Consolidated, YoY)

• Revenues up 5.2% at Rs 1,64,066.72 crore

• EBITDA down 14.05% at Rs 20,996.73 crore

• EBITDA margin at 14.57% vs 18.11%

• Net profit down 52.73% at Rs 5,701.46 crore

• On standalone basis, the company incurred a loss of Rs 247.70 crore (estimated Rs 10,598.08 crore profit), compared with Rs 8,859.54 crore a year ago, on account of provisions to the tune of Rs 9,235.11 made towards disputed taxes. The company declared a dividend of Rs 0.5 per share for the fiscal 2023.

Bharat Heavy Electricals Q4 FY23 (Consolidated, YoY)

• Revenue up 2.05% at Rs 8,226.99 crore (Bloomberg estimate: Rs 7,718.75 crore)

• Ebitda down 14.39% at Rs 986.15 crore (Bloomberg estimate: Rs 1,424.60 crore)

• Ebitda margin at 11.99% vs 14.29% (Bloomberg estimate: 18.5%)

• Net profit down 33.04% at Rs 611 crore (Bloomberg estimate: Rs 918.30 crore)

• The board recommended a final dividend of Rs 0.40 per share for fiscal 2023.

NCC Q4 FY23 (Consolidated, YoY)

• Revenue up 42.32% at Rs 4,949.03 crore

• Ebitda up 72.26% at Rs 464.61 crore

• Ebitda margin at 9.39% vs 7.76%

• Net profit down 13.21% at Rs 202.97 crore

• The company made provision to the tune of Rs 14.37 crore for obligation on sale of investment. Sanjay Pusarla has been appointed chief financial officer, effective June 1, in place of K Krishna Rao. The board approved a dividend of Rs 2.20 per share.

Chambal Fertilisers and Chemicals Q4 FY23 (Consolidated, YoY)

• Revenue up 8.81% at Rs 3,598.67 crore (Bloomberg estimate: Rs 4,934.53 crore)

• Ebitda down 69.17% at Rs 111.44 crore (Bloomberg estimate: Rs 470.77 crore)

• Ebitda margin at 3.1% vs 10.93% (Bloomberg estimate: 9.5%)

• Net profit down 61.45% at Rs 93.98 crore (Bloomberg estimate: Rs 238 crore)

• The board recommended a final dividend of Rs 3 per share.

PNC Infratech Q4 FY23 (Consolidated, YoY)

• Revenue up 3.54% at Rs 2,304.85 crore

• Ebitda down 14.52% at Rs 410.61 crore

• Ebitda margin at 17.82% vs 21.58%

• Net profit down 40.94% at Rs 145.98 crore

• The board recommended a dividend of Rs 0.50 per share for fiscal 2023.

Maharashtra Seamless Q4 FY23 (Consolidated, YoY)

• Revenues up 14.31% at Rs 1,632.86 crore (Bloomberg estimate: Rs 1,457)

• Ebitda up 85% at Rs 321.42 crore (Bloomberg estimate: Rs 251.60 crore)

• Ebitda margin at 19.68% vs 12.16% (Bloomberg estimate: 17.3%)

• Net profit down 5.94% at Rs 372.69 crore (Bloomberg estimate: Rs 160.50 crore)

• The company declared Rs 83.17 crore as provisions written back due to amalgamation. Deferred tax outgo for the period also jumped to Rs 11.47 crore, compared with Rs 5.14 crore in the year-ago period. The board recommended a dividend of Rs 5 for the fiscal 2023. It elevated Anuj Kumar Jaiswal as chief financial officer, effective June 1, in place of Sarat Kumar Mohanty.

Karnataka Bank Q4 FY23 (Standalone)

• Net interest income up 31.01% at Rs 860.05 crore (YoY)

• Net profit up 171.38% at Rs 353.75 crore (YoY)

• GNPA ratio at 3.74% vs 3.28% (QoQ)

• NNPA ratio at 1.7% vs 1.66% (QoQ)

• Operating profit before provisions and contingencies increased to Rs 685.76 crore, against Rs 380.12 crore in the year-ago period. Meanwhile, tax expense came down to Rs 78.75 crore, compared with Rs 153.86 crore. The board recommended a dividend of Rs 5 per share for fiscal 2023.

Sunteck Realty Q4 FY23 (Consolidated, YoY)

• Revenue down 68.51% at Rs 48.88 crore (Bloomberg estimate: Rs 215.05 crore)

• Ebitda loss of Rs -9.1 crore vs Ebitda profit of Rs 5.89 crore (Bloomberg estimate: Rs 52.2 crore Ebitda profit)

• Net loss widened to Rs 27.94 crore against loss of Rs 4.31 crore (Bloomberg estimate: Rs 20.25 crore profit)

• Cost of construction and development went up to Rs 683.11 crore, compared to Rs 228.36 crore. The company declared final dividend of Rs 1.50 per share for fiscal 2023. The board approved raising Rs 2,250 crore through debt and equity.

Ion Exchange (India) Q4 FY23 (Consolidated, YoY)

• Revenue up 30.45% at Rs 647.48 crore

• Ebitda up 11.97% at Rs 106.37 crore

• Ebitda margins at 16.43% vs 19.14%

• Net profit down 2.42% at Rs 81.19 crore

• Deferred tax credit decline to Rs 1 lakh from Rs 2.55 in the year-ago period. The board has declared a dividend of Rs 12.50 per share.

City Union Bank Q4 FY23 (Standalone)

• Net interest income up 2.71% at Rs 514.26 crore (YoY)

• Net profit up 4.35% at Rs 218.04 crore (YoY) (Bloomberg estimate: Rs 233.18 crore)

• GNPA ratio at 4.37% vs 4.62% (QoQ)

• NNPA ratio at 2.36% vs 2.67% (QoQ)

• The board recommended a dividend of Rs 1 per share.

Indigo Paints Q4 FY23 (Consolidated, YoY)

• Revenue up 12.86% at Rs 325.47 crore (Bloomberg estimate: Rs- 323.27 crore)

• Ebitda up 34.43% at Rs 71.73 crore (Bloomberg estimate: Rs 60.03 crore)

• Ebitda margin at 22.04% vs 18.5% (Bloomberg estimate: 18.6%)

• Net profit up 40.73% at Rs 48.68 crore (Bloomberg estimate: Rs 36 crore)

• The company recommended a final dividend of Rs 3.50 per share.

Shree Renuka Sugars Q4 FY23 (Consolidated, YoY)

• Revenue up 7.16% at Rs 2,328.50 crore

• Ebitda down 11.26% at Rs 256.8 crore

• Ebitda margin at 11.03% vs 13.32%

• Net profit down 71.92% at Rs 44.6 crore vs Rs 158.8 crore

• The net profit in the year ago period benefitted from a deferred tax credit of Rs 18.2 crore. The board noted the signing of non-binding term sheet for acquisition of 100% share in an Uttar Pradesh-based sugar manufacturing company.