Earnings Today: Higher Coal Prices May Dent JSW Steel’s Margin
India's largest steel manufacturer JSW Steel Ltd., state-owned utility company Power Grid Corporation of India Ltd., and consumer goods maker Marico Ltd. are among the companies reporting their April-June financial results on Tuesday.
JSW Steel may see profit more than halve from last year to Rs 471 crore even as the revenue is expected to grow 21 percent, Bloomberg consensus estimates show. Operating margin may contract more than 10 percentage points as higher coking coal prices weigh on the steelmaker's operational performance. Steel spreads are expected to be under pressure due to weaker pricing.
What To Watch
- Updates on the new capex plan outlined in the previous quarter
- Management commentary on inorganic growth and capital raising
- Volume growth
State-run Power Grid is expected to see revenue grow 15 percent to Rs 7,039 crore. Operating income may rise 15 percent while margin is seen contracting 30 basis points to 88.3 percent from last year. Net profit is slated to rise 16 percent, according to Bloomberg consensus estimates.
What To Watch
- Expected to capitalise assets worth Rs 8000-9000 crore
- Increase in employee cost due to implementation of seventh pay commission
- Growth in consultancy and telecom revenue
Marico, the maker of Parachute brand of hair oil, may see revenue decline 2.6 percent over last year due to falling domestic sales volume. The operating margin is expected to contract 50 basis points to 20.6 percent, mainly due to a high base effect from the same quarter last year. Net profit is seen falling 2.2 percent to Rs 262 crore, according to the consensus estimate of analysts tracked by Bloomberg.
What To Watch
- Impact of destocking due to GST implementation on sales
- Price hikes
- Cost controls and advertising spends
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