Titan Q4 Profit Beats Estimates, Petronet Misses Expectations — Earnings Wrap

Titan Co., a household name in the country, reported healthy earnings for the March quarter of fiscal 2023. A favourable base and strong jewellery sales, on account of the wedding season, during the quarter under review helped the Tata Group company post numbers in line with estimates.

These are the earnings by major companies announced after market hours on May 3:

Titan Q4 FY23 (Consolidated figures, YoY)

• Revenue up 33% at Rs 10,360 crore (Bloomberg estimate: Rs 9,322.18 crore).

• Ebitda up 37% at Rs 1,089 crore (Bloomberg estimate: Rs 1,072.42 crore).

• Ebitda margin at 10.5% vs 10.2% (Bloomberg estimate: 11.5%).

• Net profit up 40% at Rs 736 crore vs Rs 527 crore (Bloomberg estimate: Rs 746.70 crore).

The board has recommended a dividend of Rs 10 per share, to be paid on or after the seventh day from the conclusion of the 39th annual general meeting.

Tata Chemicals Q4 FY23 (Consolidated, YoY)

• Revenue up 26.6% at Rs 4,407 crore (Bloomberg estimate: Rs 4,319.80 crore).

• Ebitda up 46.88% at Rs 965 crore (Bloomberg estimate: Rs 979.13 crore).

• Ebitda margin at 21.9% vs 18.87% (Bloomberg estimate: 22.7%).

• Net profit up 53.56% at Rs 711 crore (Bloomberg estimate: Rs 487.33 crore).

The board approved a dividend of Rs 17.50 per share for fiscal 2023.

Petronet LNG Q4 FY23 (Consolidated, YoY)

• Revenue up 24.31% at Rs 13,873.93 crore (Bloomberg estimate: Rs 1,20,919 crore).

• Ebitda down 19.35% at Rs 942.53 crore (Bloomberg estimate: Rs 14,201.40 crore).

• Ebitda margin at 6.79% vs 10.47% (Bloomberg estimate: 11.7%).

• Net profit down 21.77% at Rs 618.8 crore (Bloomberg estimate: Rs 8,475.10 crore).

The board has recommended a final dividend of Rs 3 per share for fiscal 2023. The board has also approved the appointment of Milind Torawane as additional director, with effect from April 10, 2023.

Sona BLW Precision Forgings Q4 FY23 (Consolidated, YoY)

• Revenue up 35.54% at Rs 742.59 crore (Bloomberg estimate: Rs 714.22 crore).

• Ebitda up 50.12% at Rs 199.97 crore (Bloomberg estimate: Rs 191.26 crore).

• Ebitda margin at 26.93% vs 24.32% (Bloomberg estimate: 26.8%).

• Net profit up 14.48% at Rs 119.81 crore (Bloomberg estimate: Rs 106.86 crore).

The board has recommended a final dividend of Rs 1.53 per share for the fiscal ended March 2023. The record date for the same has been fixed as June 30, 2023.

ABB India Q1 CY23 (Consolidated, YoY)

• Revenue up 22.5% at Rs 2,411 crore (Bloomberg estimate: Rs 2,229.95 crore).

• Ebitda up 52% at Rs 285.31 crore (Bloomberg estimate: Rs 215.3 crore).

• Ebitda margin 11.8% vs 9.5% (Bloomberg estimate:  9.65%).

• Net profit fell 34% at Rs 244.89 crore (Bloomberg estimate: Rs 183.9 crore).

Bajaj Consumer Care Q4 FY23 (Consolidated, YoY)

• Revenue up 14.29% at Rs 249.42 crore (Bloomberg estimate: Rs 233.26 crore).

• Ebitda up 20.11% at Rs 41.69 crore (Bloomberg estimate: Rs 35.72 crore).

• Ebitda margin at 16.72% vs 15.91% (Bloomberg estimate: 15.3%).

• Net profit up 12.95% at Rs 40.46 crore (Bloomberg estimate: Rs 36.50 crore).

The company announced a final dividend of Rs 5 per share for fiscal 2023.

Reliance Power Q4 FY23 (Consolidated, YoY)

• Revenue down 6.28% at Rs 1,729.84 crore.

• Ebitda loss of Rs 159.14 crore vs Ebitda profit of Rs 185.15 crore.

• Net profit of Rs 321.79 crore vs net loss of Rs 657.89 crore.