Stocks to watch: Ambuja Cements, Maruti, Sun Pharma, M&M, Adani Power, Infosys

Ambuja Cements: The company reported a consolidated profit of ₹646.31 crore for Q1FY25, a 28.6% YoY decline due to rising expenses and lower revenues. Revenue fell 4.6% YoY to ₹8,311.48 crore. Sales volume increased to 15.8 million tonnes. EBITDA fell 23.21% YoY to ₹1,280 crore with a margin of 15.4%. Total expenses rose to ₹7,566.91 crore. The company anticipates cement demand to grow 7-9% in FY25. Consolidated cash and cash equivalents stood at ₹18,299 crore.

Maruti Suzuki: The company reported a 50% increase in discounts for Q1FY25 compared to Q4FY24, with average discounts rising to ₹21,700 per vehicle. Net profit rose 46.9% YoY to ₹3,649.9 crore, driven by cost reduction, favorable commodity prices, and beneficial forex rates. Net sales increased to ₹33,875.3 crore. EBIT margin improved to 11.1% from 10.8% in Q4FY24. It sold 521,868 vehicles in Q1FY25, a 4.8% YoY increase. Domestic sales rose 3.8%, while exports increased 11.6%. The company maintained its outlook for low-single digit growth in PV sales for the full fiscal year.

Sun Pharmaceutical Industries: The company is scheduled to release its Q1FY25 earnings on August 1. Revenue is projected to grow over 8% to ₹12,904 crore, with net profit likely to rise 27.5% to ₹2,579 crore. Analysts expect strong US sales driven by specialty products and steady domestic growth in chronic therapies. However, increased R&D costs are expected to weigh on margins. EBITDA margin is projected at 26.7%, down from 27.9% YoY. Investors will watch for actual R&D expenses and margin guidance for FY25.

Mahindra & Mahindra: M&M reported a standalone net profit of ₹2,612.63 crore for Q1FY25, a 5.3% decline YoY due to one-off gains last year. Revenue increased 12% YoY to ₹27,038.79 crore. EBITDA rose 22% YoY to ₹4,023 crore, with a margin improvement to 14.9%. Auto segment revenue grew 13% YoY to ₹18,947.09 crore, with EBIT margin improving to 9.5%. Sold 2,11,550 vehicles in Q1FY25, a 14% increase YoY. Farm Equipment segment revenue increased 9% YoY to ₹8,144.15 crore, with EBIT margin expanding to 18.5%.

Adani Power: The company reported a 55.3% decline in net profit to ₹3,913 crore for Q1FY25. Revenue rose 35% YoY to ₹14,955.6 crore. EBITDA increased 76% YoY to ₹6,195 crore, with a margin of 41.4%. The decline in net profit was due to higher fuel costs. Power sales volume rose 38% to 24.1 billion units. Expenses increased 13.5% to ₹10,568 crore, driven by higher fuel costs. The company is developing three Ultra-supercritical projects of 1,600 MW each. Adani Power’s installed thermal power capacity is 15,210 MW across eight plants.

Tata Steel: The company reported a 51% jump in consolidated net profit to ₹960 crore for Q1FY25, up from ₹634 crore YoY, but missed analysts’ expectations of ₹1,025 crore. Revenue declined 8% YoY to ₹54,771 crore. EBITDA rose 11.4% YoY to ₹6,822 crore, with a margin of 12.5%. Net debt stood at ₹82,162 crore, with liquidity at ₹36,460 crore. Tata Steel spent ₹3,777 crore on capex in Q1, with the Kalinganagar expansion project nearing completion.

Zee Entertainment Enterprises: The company announced it will acquire the remaining 20% stake in Margo Networks Private Limited, making it a 100% subsidiary. In other news, Star India terminated its agreement with Zee Entertainment for sub-licensing linear TV rights for ICC Men’s tournaments, citing a breach of contract. The original agreement, signed in August 2022, positioned Zee as a key player in broadcasting major ICC events. Star India is now pursuing damages in an ongoing arbitration process.

Bank of Baroda: BoB reported a 9.5% YoY rise in net profit to ₹4,458.2 crore for Q1FY25. Net interest income increased 5.5% YoY to ₹11,600 crore. Gross NPA stood at 2.88%, while net NPA was at 0.69%. Global advances grew 8.1% YoY to ₹10,71,681 crore, and domestic advances rose 8.5% YoY to ₹8,81,785 crore. Domestic deposits increased 5.3% YoY to ₹11,05,460 crore. The bank’s Provision Coverage Ratio stood at 93.32%, and the Capital to Risk-Weighted Assets Ratio (CRAR) was at 16.82%.

Indus Towers: The company anticipates a boost in free cash flows due to an expected rise in co-locations from Vodafone Idea and improved collection of past dues. The company announced a share buyback worth ₹2,640 crore, representing a 2.107% stake, at ₹465 apiece. Bharti Airtel will not participate in the buyback, while Vodafone Group Plc may participate. Vodafone Idea owes Indus Towers an estimated ₹10,000 crore in past dues. The tower provider expects payments of outstanding dues to stabilize as Vodafone Idea secures funding.

Coal India: CIL reported a 4% increase in consolidated net profit to ₹10,943.55 crore for Q1FY25, up from ₹10,498.39 crore YoY. Revenue from operations rose 1.3% to ₹36,465 crore. EBITDA increased 8% to ₹16,308.53 crore. Total income was up 2% at ₹38,349.21 crore. Capex for the quarter was ₹3,331.44 crore, 3% higher YoY. Raw coal production was 189.286 million tonnes, up from 175.476 million tonnes YoY. Offtake stood at 198.5 million tonnes, up from 186.950 million tonnes YoY. CIL incorporated Bharat Coal Gasification & Chemicals Limited as a new subsidiary and started operations of a non-coking coal washery with a capacity of 10 MTPA during the quarter.

Infosys: Tax authorities flagged an instance of indirect tax evasion of ₹32,403 crore by Infosys over services provided by its overseas branches. Infosys believes the tax does not apply to these services and has responded to the notice. The Directorate General of GST Intelligence (DGGI) is investigating for non-payment of IGST on import of services. Infosys stated that GST is not applicable on these expenses as per recent regulations and that it has paid all its GST dues.

IDBI Bank: The company received the RBI’s nod for the ‘fit & proper’ criteria for privatisation. Likely bidders for the strategic sale are expected to begin due diligence in early August. The Centre and LIC plan to offload 60.7% of their holdings in IDBI Bank. Fairfax India Holdings has likely passed RBI’s rigorous ‘fit and proper’ test. Fairfax has also committed to retaining the existing management team and staff for a minimum of three years post-acquisition.

Aster DM Healthcare: The company reported a net profit of ₹5,152.2 crore for Q1FY25, up from ₹20 crore YoY. Revenue from operations increased 23.7% to ₹565.7 crore. EBITDA rose 22% to ₹101.3 crore. EBITDA margin stood at 17.95%. The core hospital and clinic business delivered an operating EBITDA margin of 21%. The Karnataka and Maharashtra cluster saw a 38% YoY revenue growth. Aster Labs’ revenue grew by 15% YoY.

Godrej Properties: The company clocked bookings worth ₹8,637 crore in Q1FY25, up from ₹2,254 crore YoY. Sales volume stood at 8.99 million sq. ft. Net profit jumped 316% YoY to ₹520 crore. Revenue from operations fell to ₹739 crore from ₹936 crore YoY. GPL added two group housing projects in Pune and Bengaluru with an estimated booking value of ₹3,000 crore. The company plans to launch 21.9 million sq. ft of real estate in FY25 with an expected booking value of ₹30,000 crore.

Prestige Estates Projects: The company reported a 3.4% YoY dip in net profit to ₹307 crore for Q1FY25. Revenue from operations increased 10.8% to ₹1,862.1 crore. EBITDA jumped 51.2% to ₹796.3 crore. EBITDA margin stood at 42.8%.

Indian Oil Corporation: IOCL is considering cancelling the tender for its maiden green hydrogen plant to revise norms and attract more bidders. The bids closed on 9 July with two entities in the race: GH4India (a consortium including IOCL, ReNew, and Larsen & Toubro) and Neometrix Engineering. The initial tender was cancelled in February due to allegations of preferential treatment towards the IOCL joint venture. The revised tender removed the controversial clause but still faced issues, leading to potential further delays.

Angel One: The company invested ₹250 crore into its wealth management arm to capitalize on growing affluence in India. The capital will develop core technological infrastructure, leveraging AI and analytics, expand presence in key markets, and develop product strategies. Angel One Wealth has three business verticals: HNI, UHNI, and alternate assets. The HNI population in India is expected to grow 16% annually to 16.5 lakh by 2027.

Zydus Lifesciences: The company received marketing approval from the Mexican regulatory authority COFEPRIS for Mamitra, a Trastuzumab biosimilar used to treat breast and advanced gastric cancer. Mamitra will be marketed in strengths of 150 mg and 440 mg. The approval allows Zydus to expand its biosimilar portfolio to new markets.

Redington: The company reported a 15% YoY decline in net profit to ₹217 crore for Q1FY25. Revenue increased by 0.5% to ₹21,283.3 crore. EBITDA dipped 11.3% to ₹372.1 crore. The company saw growth in the Cloud business (35% YoY) and endpoint solutions business. India and UAE markets delivered growth, while Turkey faced challenges due to softening demand.

JSW Cement: The company initiated a bid to acquire a 37.9% promoter stake in Orient Cement (OCL) from CK Birla. The acquisition would trigger an open offer for an additional 26% from minority shareholders. The 63.9% stake could be valued at around ₹4,546.54 crore. JSW Cement views this as a strategic opportunity to strengthen its market position.

JK Lakshmi Cement: The company reported a 108.6% YoY jump in net profit to ₹156.3 crore for Q1FY25. Revenue from operations dipped 11.6% to ₹1,444.5 crore. EBITDA grew 10.1% to ₹184.5 crore. EBITDA margin stood at 12.8%. Total expenses were lower by 10% YoY.

Godfrey Phillips India: The company received judicial clearance to close its loss-making 24Seven retail business. The company initially disclosed its intention to exit the retail sector in April 2024. The decision was driven by long-term performance, market conditions, and the company’s business strategy. The retail business division had a negative net worth as of March 31, 2024.

TeamLease Services: The company reported a 21.2% YoY decline in net profit to ₹20.8 crore for Q1FY25. Revenue from operations increased 18.8% to ₹2,579.9 crore. EBITDA dipped 15.2% to ₹22.3 crore. The company added 12,700 headcounts despite the loss of 6,000 NEEM trainees. The General Staffing division saw a net addition of 15,500 headcount. The HR Services division faced a 51% revenue decline due to seasonality and the student admission cycle in the EdTech business.

BHEL: The company reported a net loss of ₹211.4 crore against ₹205 crore in the previous fiscal. Revenue increased by 9.6% to ₹5,485 crore.

BirlaSoft: The company's net profit declined by 16.6% YoY to ₹150.2 crore. Revenue decreased by 2.6% to ₹1,327.4 crore.

Crompton Greaves Electricals: The company's net profit jumped by 25% to ₹152.35 crore. Revenue grew by 14% to ₹2,137.69 crore.

Mankind Pharma: The company net profit increased by 10% YoY to ₹543 crore, while revenue grew by 12% to ₹2,893 crore.

Bikaji Foods International: The company's promoter Deepak Agarwal sold 300,000 equity shares, reducing the Promoter Group’s shareholding to 74.98%.

Sansera Engineering: The company signed an MoU with Karnataka Udyog Mitra for 55 acres of industrial land in Harohalli, Bengaluru.

Wipro: The company was selected by MAHLE to transform IT infrastructure with hybrid cloud solution.

GE T&D: The company's revenue rose by 34% to ₹960 crore, while EBITDA increased to ₹194 crore. Profit after tax was ₹134.5 crore.

Relaxo Footwear: The company's revenue rose by 1% YoY to ₹748 crore in Q1FY25, while PAT fell by 21% to ₹44 crore.

The Phoenix Mills: The company's board approved the issuance of bonus shares in the ratio of 1:1 with a face value of ₹2.

Maestros Electronics & Telecommunications Systems: The company secured a deal from the DG Armed Forces Medical Service for 178 Portable Lightweight Computerized Multi-Channel ECG Machines.

GE Power: The company received purchase orders from Torrent Power Limited and NTPC Limited totaling ₹3.83 crores for boiler spares.