TOP CORPORATE NEWS :- 24 May 2017

Corporate News

TOP HEADLINES OF THE DAY :-

• TCS iON to launch cloud based solution for educational institutions
• Lupin Q4 net Profit below street estimates
• IDBI Bank looking to dilute stake in some non-core business
• Kaveri Seeds Q4 net loss at Rs87 cr
• Adani Ports puts up a strong show in Q4
• Bharat Forge Q4FY2017 numbers in line with estimates

TCS iON to launch cloud based solution for educational institutions
TCS iON to launch an integrated cloud based solution for educational institutions
TCS announced the Japan launch of its “TCS iON Education Solution”, an integrated cloud-based solution for academic and vocational institutions. It
provides educational institutions an end-to-end solution that streamlines operations and management across the institution and its campuses.

Lupin Q4 net Profit below street estimates
Lupin Q4 Consolidated:
EBITDA at Rs781 crore
EBITDA Margin at 18.4%
Tax Expense at Rs136.7 crore Vs Rs418.7 crore (YoY)
Q4 Sales up 13.8% at Rs879 crore Vs Rs772.2 crore (YoY)
Lupin Q4 YoY
Asia Pacific Q4 sales up 5% at Rs612 crore
EMEA Q4 Sales up 3% at Rs301 crore
LatAm Q4 Sales up 37% at Rs127 crore.

IDBI Bank looking to dilute stake in some non-core business
IDBI Bank: Bank is looking to dilute its stake in some non-core businesses to shore up capital base.
The bank may look to offload its stake in its MF business which has AUM of Rs7700 crore – Positive read through as the monetization of stake will
help IDBI bank offset its future NPA related provisions.

Kaveri Seeds Q4 net loss at Rs87 cr
Kaveri Seeds Q4:
Net Loss at Rs87.2 crore Vs Loss of Rs10.4 crore (YoY)
Exceptional Loss at Rs59.2 crore
Revenue down 1.9% at Rs40.3 crore Vs Rs41.1 crore
EBITDA Loss at Rs26.8 crore Vs Loss of Rs6.1 crore.

Adani Ports puts up a strong show in Q4
Adani Ports Consolidated net profit at Rs1164 crore
Revenue at Rs2231 crore.
Adani Ports said that there are no outstanding related Party Loans, Advances & Deposits; Received Entire Amount of Rs3500 Cr Fm Related Parties
Adani Ports Forex Gain of Rs304 crore; Cargo Volume up 14% at 243 mt (YoY)
Adani Ports consolidated EBITDA at Rs1541 crore; Margin at 69.1%.

Bharat Forge Q4FY2017 numbers in line with estimates
The standalone revenues for the quarter were up 11.3% YoY driven by a 11% YoY and 12% YoY growth in the domestic and export revenues respectively.
The domestic revenues were up driven by a 5.3% YoY growth in the shipment tonnages to 55,189 tons. The revenues were broadly in line with our
estimates of Rs1090 crore.
The operating margins for the quarter at 28.4% (as against estimate of 29.4%) contracted 170 BPS YoY. A marginal increase in the other expenses
resulted in the OPM’s contracting. The EBITDA at Rs320 crore was in line with our estimates.

During the quarter the company reported an exceptional gain of Rs38 crore (Rs54 crore gain on stake sale in power JV with Alstom and an impairment
loss of Rs16 crore towards investments in Indian Subsidiaries). This coupled with a higer tax rate of 32% as against 29.6% for Q4FY2016, resulted in
the adjusted Pat coming in at Rs169.4 crore, up 2.4% YoY as against our estimate of Rs173 crore.

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