TOP CORPORATE NEWS : 25, May 2017

Corporate News

Top Headlines of the Day :

Indian Oil Q4 Standalone PAT at Rs3720 Cr
Maruti Suzuki plans to upgrade engines
Jain Irrigation jumps on stellar Q4FY2017 performance
PC Jeweller Q4 net profit rises
Petronet LNG agreement to set up $250 mn LNG terminal in focus

Indian Oil Q4 Standalone PAT at Rs3720 Cr
Indian Oil Q4 Standalone PAT at Rs3720 Cr
Standalone Revenue at Rs 1.22 Lk Cr
EBITDA at Rs 4408 Cr
Margin At 4.4%
Deferred Tax at Rs 136 Cr Vs Expense of Rs 2,196 Cr (QoQ); Vs Rs 1,081 Cr (YoY)
Other Income at Rs 2,059 Cr Vs Rs 808 Cr (QoQ).

Maruti Suzuki plans to upgrade engines
Maruti Suzuki plans to upgrade engines and introduce AMT in more models; aims at 2 million sales by 2020 (CAGR growth of 9%.
Maruti Suzuki India plans to upgrade engines, introduce new platforms and bring in more models with various level of automatic transmissions as it
aims to sell two million units by 2020.
Maruti currently sells around 94,000 units with AGS (automated gear shift) and aims to increase the contribution to 1.5 lakh units in current fiscal
and 3 lakh units by 2020.
Maruti is also upgrading the engines in wake of introduction of corporate average fuel efficiency (CAFE) norms.

Jain Irrigation jumps on stellar Q4FY2017 performance
Shares of Jain Irrigation jumped over 10% to Rs94.90 on NSE post Q4FY2017 results led by strong Micro Irrigation performance along with higher other
income, lower depreciation & Interest boosts earnings
The company’s standalone net sales declined by 10.8% YoY to Rs1,282 crore for Q4FY2017. However, the financials for the quarter are not comparable
as Q4FY2017 does not include Agro Processing Division.
On the like to like basis, the revenue from operations grew by 15% YoY which was mainly contributed by good performance in the micro irrigation
products (sales up 21.7% YoY).
Plastic division grew by 3.3% YoY within which PE pipe grew by 10.5% YoY although PVC division had muted growth.
The operating margins on like to like basis declined by 32BPS leading to 13% YoY growth in EBITDA at Rs239.9 crore.

PC Jeweller Q4 net profit rises
PC Jeweller net profit up 39.7% at Rs110 crore Vs Rs78.8 crore
Revenue up 15.3% at Rs2158 crore Vs Rs1871.4 crore (YoY)
Other Income Rs50.8 crore Vs Rs12.8 crore
EBITDA up 6.7% at Rs177 crore Vs Rs166 crore & Margin at 8.2% Vs 8.8% (YoY)
The Board of Directors of the Company at its meeting held on May 25, 2017, has recommended issue of bonus shares in the proportion of 1 equity share
for every 1 existing equity share, by capitalizing Securities Premium Reserves / Free Reserves subject to the approval of the Members.

Petronet LNG agreement to set up $250 mn LNG terminal in focus
Petronet LNG (PLNG): An agreement has been reached between government of India, Sri Lanka and Japan to set up a $250 million LNG terminal in the
west coast of Sri Lanka with a 50:50 joint venture between PLNG and a Japanese company – long term positive for PLNG.

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