TOP Headlines:- 01 Aug 2017
• M&M July 2017 overall sales up 6% YoY
• Century Ply Q1 net profit down 21% (YoY)
• Marico Q1 consolidated profit at Rs236 cr
• Tata Motors July 2017 dispatches up 7% (YoY)
• Torrent Power Q1 consolidated profit at Rs203 cr
M&M July 2017 overall sales up 6% YoY
M&M overall sales for the month were up 6% YoY on the back of a 6% and 7% YoY growth in the Auto and Farm equipment segments respectively. The numbers were ahead of estimates. Auto segment sales were ahead of estimates while tractor sales came in line with estimates
The utility vehicle sales bounced back, up by 20% YoY for the month triggered by a price reduction post GST roll out. The Cars and Vans segment sales too were up impressively by 30% YoY.
The LCV volumes grew 12% YoY while the MHCV volumes grew sharply by 72% YoY as business adpated to the new GST regime leading to improved demand scenario.
The three wheeler volumes declined for the month by 21% YoY pointing at a weak demand scenario and market share loss.
The Tractor segment sales grew 7% YoY driven by a 7.5% YoY growth in the domestic tractor sales attributable to a Normal and a well spread monsoon and pick up in Kharif sowing.
Tractor exports were up 4.5% YoY for the month.
Marico Q1 consolidated profit at Rs236 cr
Marico Q1FY2018 (consolidated) results – below par performance; down-stocking led to volume decline of 9% in India business
Marico’s consolidated revenues in Q1FY2018 declined by 3.5% (YoY) to Rs1692.4 crore mainly on account of 4% decline in India business revenues and flat revenues in the international business.
The India business sales volume declined by 9% largely on account of steep inventory pipeline correction at wholesaler and retailers level prior to GST implementation. Also CSD sales were down by 15% during the quarter. The international business revenues grew by 4% on constant currency basis volume growth of 1%).
With copra prices spiking by almost 60%, the gross margins declined by 454BPS to 47.5% as the company held back the price hike prior to GST implementation. The OPM was down by 215BPS to 19.2% at consolidated level.
The operating profit declined by 13.3yoy and the adjusted PAT declined by 11.9%yoy to Rs236.0 crore.
Torrent Power Q1 consolidated profit at Rs203 cr
Torrent Power Q1 result for June 30, 2017:
Consolidated Net Profit at Rs203 crore Vs Rs45.6 crore (YoY)
Consolidated Revenue up 18.4% at Rs3059 crore (YoY)
Consolidated EBITDA up 53% at Rs795 crore (YoY)
Consolidated EBITDA Margin at 26% Vs 20% (YoY).
Tata Motors July 2017 dispatches up 7% (YoY)
Tata Motors July 2017 dispatches are up 7% YoY driven by strong growth in CV segment; Numbers ahead of estimates
Tata Motors overall sales for July 2017 are higher by 7% YoY driven by strong performance of the CV (commercial Vehicle) segment sales. The sales came in ahead of estimates.
The CV segment sales for the month were up 15% YoY due to pick-up in demand and availability on the back of continued production ramp up of the BS 4 compatible vehicles and improvement in demand.
The passenger vehicle segment sales were up 10% YoY on the back of a sustained demand for Tata Tiago and Tata Tigor and Tata Hexa.
Century Ply Q1 net profit down 21% (YoY)
Century Ply Q1 (YoY)
Net Profit at Rs34.1 crore Vs Rs43 crore (YoY)
Revenue up 7.7% at Rs473.4 crore Vs Rs439.7 crore (YoY)
EBITDA down 7.7% at Rs61 crore Vs Rs66 crore (YoY)
EBITDA Margin at 13.9% Vs 16.3% (YoY).
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