TOP CORPORATE NEWS : – 28 April, 2017

top corporate news

Top Headlines :

UPL Q4FY2017 results: strong topline growth, margins missed estimates
Ceat Q4FY2017 results review: Below estimates
Federal Bank posts a healthy Q4
Motilal Oswal reports strong Q4 earnings; profit up by 113%
Indiabulls Real Estate Q4 consolidated profit up 19%Tata Elxsi Q4:

TOP CORPORATE NEWS : -28 April, 2017

UPL Q4FY2017 results: strong topline growth, margins missed estimates
The topline for the quarter was up 20.5% YoY to Rs5341 crore and was ahead of our estimates of Rs4835 crore. The strong traction in the Latin Amercian business resulted in the double digit topline growth.
The OPM’s for the quarter expanded 428 BPS YoY to 19.4% given the benefits of operating leverage and richer product mix, however the margins came in below street estimates of 22%. The EBITDA for the quarter too was up impressively by 54% YoY to Rs1037 Crs and was broadly in line with estimates of Rs1073 crore.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.

Ceat Q4FY2017 results review: Below estimates
Ceat Q4FY2017 results were below our as well as street estimates as the company posted the lowest margins in the last ten quarters impacted by hardening raw material prices
Revenues grew 6% YoY led by volume growth and price hikes undertaken. Revenues were lower than our estimates of Rs1551 croreMargins surprised negatively falling sharply by 440 bps yoy to 9% (lower than our estimates of 10.4%). The margins were lowest in the last ten quarters as the rubber and crude prices both shot up. RM/ sales ratio shot up 640 bps yoy.
During the quarter, Ceat realized VRS expenses of Rs12.5 crore which further impacted the profitability.

Federal Bank posts a healthy Q4
Federal Bank results for Q4 FY17 were better than our expectations. The Bank posted PAT of Rs256 crore, up 24.8% on sequential basis with better than expected Net Interest Income (NII) of Rs842 crores, up by 22.8% YoY and 6.4% QoQ to.
Significantly, during the quarter, the bank improved its asset quality on a sequential basis, even though it had exposure to large corporate borrowers. The asset quality improved with GNPAs at 2.33% and NNPAs at 1.28% down by 44 BPS & 30 BPS on sequential basis.

Motilal Oswal reports strong Q4 earnings; profit up by 113%
Motilal Oswal reported a 113% increase in profit after tax (PAT) year-on-year (y-o-y) for quarter ending in March 2017. The company reported a PAT of Rs90 crore on the back of Rs537 crore revenues during quarter ending March 2017.
Motilal Oswal reported 69% jump in revenue to Rs537 crore.
It is also looking to raise upto Rs1, 000 crore via debentures.
Indiabulls Real Estate Q4 consolidated profit up 19%Tata Elxsi Q4:
Indiabulls Real Estate Ltd (IBREL) reported Q4 consolidated net profit surged by 19% to Rs79.8 crore for the Quarter ended March 31, 2017
The year ago period net profit stood at Rs67.2 crore.
Total revenue declined to Rs545.2 crore in the fourth quarter of the last fiscal from Rs735.1 crore in the corresponding period of the previous
year.
During the last fiscal, the company’s net profit rose to Rs396.9 crore Vs Rs296.1 crore (YoY).
Total revenue, however, fell to Rs2, 844.3 crore Vs Rs3, 096.7 crore (YoY).

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