TOP Headlines :-
• Maruti Suzuki Q4 topline meet estimates
• Kotak Mahindra Bank Q4 profit below estimates
• TVS Motor EBITDA below estimates
• Tata Sponge Q4 net profit up 62% (YoY)
• Tata Elxsi Q4 net profit at Rs45 cr
TOP CORPORATE NEWS : 27 Apr, 2017
Maruti Suzuki Q4 topline meet estimates
Maruti Suzuki reported Q4 Numbers:
Q4 Standalone net profit at Rs1709 crore
EBITDA Margin at 13.8%
EBITDA at Rs2, 560.7 crore
Reveue at Rs20, 751.2 crore
Maruti Suzuki Q4FY17 Results: Operating performance slightly below estimates due to higher RM and selling costs; Net Profit largely in line.
Maruti’s topline for the quarter was up 20% YoY to Rs 18,333 Cr and in line with our estimates. The volumes for the quarter were up 15% driven by the success of the new product launches, while the realizations were up around 5% YoY due to the price hikes taken by the company and a rich product mix.
On the back of a by a steep increase in the raw material cost (RM / sales up 360BPS YoY) and a higher selling expenses, the operating Margins for the quarter contracted by 130 BPS to 14% for the quarter. Consequently the EBITDA for the quarter at Rs 2561 Cr is up 10%, which is marginally below our estimates RS 2760 Cr.
The PAT for the quarter at Rs 1709 Cr is up 16% YoY due to a drop in the tax rate to 25% as against 29.3% for Q4FY16. The PAT came in broadly in line with estimates.
Kotak Mahindra Bank Q4 profit below estimates
Kotak Mahindra Bank reported Q4 earnings:
Q4 Standalone net profit at Rs976.5
Other Income at Rs1, 002.7 crore
Gross NPA at 2.59% Vs 2.42%
Net NPA at 1.26% Vs 1.07% (QoQ)
Kotak Mahindra Bank Profit & NII Beat.
TVS Motor EBITDA below estimates
TVS Motor posted a profit Rs 126.8 cr beating street estimates
EBITDA at Rs161.5 crore
Other Income up 63.7% at Rs63.2 crore Vs Rs38.6 crore (YoY)
Q4 Sales Up 2.3% at 6.75 Lakh Units Vs 6.60 Lakh Units (YoY)
Expect to better Co Performance in ongoing fiscal year
Company grew by over 4% post demonetization while the industry declined. Discounts for units in wake of BS-III ban at Rs57 Cr
TVS Motor has successfully migrated all products to BS-IV
TVS Motors Q4FY2017 results: OPM ahead of estimates Adjusting for one off discounts; Higher Other income and lower tax leads to Profit beat.
Tata Sponge Q4 net profit up 62% (YoY)
Net profit of Tata Sponge Iron rose 62.20% to Rs21.20 crore Vs Rs13.07 crore (YoY).
Revenue at 185 crore vs 154.34 crore, up 20% YoY.
To pay dividend of Rs11/share.
Tata Elxsi Q4 net profit at Rs45 cr
Tata Elxsi Q4:
QoQ PAT up 1.6% at Rs45 crore
Revenuve up 5.4% at Rs326 crore
EBITDA up 2% at Rs76 crore
EBITDA margin at 23% Vs 24%.
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