TOP 5 STOCKS TO WATCH OUT FOR
Godrej Consumer Projects:
Godrej Consumer Products posted a net loss in Q4FY24, even as revenue grew in line with analysts’ estimates. company reported a net loss of Rs 1,893.21 crore in the January-March quarter, as compared with a net profit of Rs 452.14 crore YoY. That compares with the Rs 507.2 crore consensus estimates by Bloomberg. Revenue for the company grew 5.8% at Rs 3,386 crore with EBITDA loss at Rs 1,893.21 crore against EBITDA of Rs 664.65 crore YoY. The underlying volume during the quarter grew 12% according to exchange filings. Consolidated total revenue from operations during the quarter under review stood at Rs 3,385.61 crore as against Rs 3,200.16 crore in the year-ago period. Total expenses in the fourth quarter were higher at Rs 2,758.27 crore compared to Rs 2,680.39 crore in the corresponding period a year ago, the company said. In the fourth quarter, GCPL incurred exceptional items of Rs 2,375.65 crore, the filing said. For the fiscal ended March 31, 2024, GCPL said its consolidated loss after tax was Rs 560.55 crore. It had posted a consolidated profit after tax of Rs 1,702.46 crore in FY23.
Gujarat Gas:
Gujarat Gas reported an 11% YoY increase in net profit at Rs 409.5 crore for Q4FY24, due to a reduction in spot gas prices and an increase in volumes. This compares with a net profit of Rs 369.22 crore in the corresponding quarter. It’s revenue increased 1.48% to Rs 4,134.2 crore as compared to Rs 4,073.82 crore on a YoY basis. The board has recommended a dividend i.e. Rs 5.66 per equity share for FY24. During FY24, Gujarat Gas added close to 1,87,000 new domestic customers as well.
Route Mobile:
Route Mobile reported an 8.6% YoY drop in net profit at Rs 95.2 crore in January-March quarter 2024. This compares with Rs 104.1 crore net profit in the corresponding quarter of the previous fiscal. It’s revenue increased 0.8% to Rs 1,017 crore as compared to Rs 1,008.7 crore on a YoY basis. At the operating level, EBITDA dipped 4% to Rs 125.4 crore over Rs 132 crore in Q4FY23 with EBITDA margin coming at 12.3% vs 13.1% during the same period. The board has recommended a final dividend of Rs2 per equity share for FY24 as well, subject to shareholders approval.
Gujarat Fluorochemicals:
Gujarat Fluorochemicals consolidated net profit declined 70% in the January-March 2024 quarter to Rs 101 crore agianst consensus estimate of Rs 99 crore. In terms of numbers, revenue was down 23% YoY at Rs 1,133 crore, EBITDA down 55.5% YoY at Rs 229 crore with margins coming at 20.2% vs 35% during the same period. As mentioned above, the bottomline performance was down sharply by 70% YoY to Rs 101 crore.
Indegene IPO:
On Monday, Indegene Ltd. launched its initial public offerings (IPO) to raise up to Rs 1,841.76 crore. The bidding led by non Institutional Investor got fully subscribed on day 1. Indegene has set a price band of Rs 430-452 per share for its 3day IPO, which is a mix of fresh issue of equity shares worth Rs 760 crore and an offer-for-sale (OFS) of 2.39 crore shares by the existing shareholders wtih minimum application lot size is 33 shares. The offer, which concludes on 8th May, is set to list on the BSE and the NSE, with a listing date scheduled for 13th May 2024. The Rs 1,841.75 crore IPO received bids for 4,80,93,837 shares against 2,88,66,677 shares on offer, as per NSE data. The category for non institutional investors received 4.13 times subscription, while the portion for Retail Individual Investors (RIIs) got subscribed 1.50 times. The quota meant for Qualified Institutional Buyers (QIBs) garnered 5 per cent subscription.