Mixed Q4 Results For Tata Steel, Revenue Rises For Ambuja — Earnings Wrap

Steel rolls sit inside Tata Steel's plant. (Source: Company website)

Tata Steel Ltd. saw a steep decline in its net profit for the quarter ended March 2023, but exceeded estimates by a wide margin, according to its company filing on Tuesday.

The story was the same across the Indian steel behemoth's financial results as it managed to beat estimates with ease, but its metrics saw significant decline when compared to figures from the corresponding quarter of the previous fiscal.

Its bottom line and top line took a hit as the improvement in Indian operations was countered by the pressure faced by its European units.

These are the major earnings announced after market hours on May 2:

Tata Steel Q4 FY23 (Consolidated, YoY)

Revenue down 9.18% at Rs 62,961.54 crore (Bloomberg estimate: Rs 60,827.16 crore).
Ebitda down 51.97% at Rs 7,219.2 crore (Bloomberg estimate: Rs 5,711.28 crore).
Ebitda margin at 11.47% vs 21.68% (Bloomberg estimate: 9.4%).
Net profit down 82.53% at Rs 1,704.86 crore (Bloomberg estimate: Rs 330.37 crore).

The company declared a net profit of Rs 3.60 apiece for fiscal 2023.

Shareholders will vote on it on July 5 and, if approved, the dividend will be paid on and from July 10.

Ambuja Cements Q4 FY23 (Standalone, YoY)

Revenue up 8.39% at Rs 4,256.31 crore (Bloomberg estimates: Rs 4,184.90 crore).
Ebitda down 0.64% at Rs 788.26 crore (Bloomberg estimates: Rs 827.14 crore).
Ebitda margin at 18.52% vs 20.20% (Bloomberg estimates: 19.8%).
Net profit up 1.62% at Rs 502.4 crore (Bloomberg estimates: Rs 493.48 crore).

The board recommended a final dividend of Rs 2.50 per share for fiscal 2023.

KEI Industries Q4 FY23 (Consolidated, YoY)

Revenue up 9.06% at Rs 1,954.53 crore (Bloomberg estimates: Rs 1,926.67 crore).
Ebitda up 18.51% at Rs 203.81 crore (Bloomberg estimates: Rs 213.05 crore).
Ebitda margin at 10.43% vs 9.6% (Bloomberg estimates: 11.1%).
Net profit up 19.07% at Rs 138.1 crore (Bloomberg estimates: Rs 138.70 crore).

DCM Shriram Q4 FY23 (Consolidated, YoY)

Revenue down 0.86% at Rs 2,848.65 crore.
Ebitda down 45.44% at Rs 346.22 crore.
Ebitda margin at 12.15% vs 22.09%.
Net profit down 53.47% at Rs 186.67 crore.

The company declared a dividend of Rs 3.6 per share for fiscal 2023. It also announced the appointment of Aditya Sharma as deputy managing director of the company with effect from July 2.