Stocks to watch: Grasim, Sun Pharma, Power Grid Corp., Nykaa, Garden Reach Shipbuilders
Grasim Industries: The company reported a 15.5% YoY rise in its Q4FY24 consolidated net profit at ₹2,721.81 crore, up from ₹2,355.67 crore in Q4FY23. The company’s revenue from operations also saw a 13% increase to ₹37,727.1 crore. The company’s EBITDA for Q4FY24 stood at ₹6,196 crore, marking a 27% growth YoY.
For the full FY24, the consolidated net profit was ₹9,925.65 crore. The company achieved an all-time high consolidated revenue of ₹1,30,978 crore for FY24, up by 11% year-on-year, driven by strong performance from its diversified businesses portfolio, particularly the building materials and financial services businesses. The EBITDA for the year reached a record level of ₹20,837 crore.Sun Pharmaceutical Industries: The company reported a Q4 consolidated net profit of ₹2,655 crore ($318.9 million), surpassing estimates, driven by strong performance in the U.S.
and domestic markets. This represents a significant increase from the previous year’s profit of ₹1,984 crore. Total revenue rose 9.6% to ₹11,983 crore.
The company’s U.S. sales rose nearly 11.9% to ₹3,954 crore, while India sales rose more than 10.2% to ₹3,710 crore. The board proposed a dividend of ₹5 per share for fiscal year 2024.Power Grid Corporation of India: The company announced a nearly 4% fall in its Q4 consolidated net profit at ₹4,166.33 crore, mainly due to a marginal decline in income.
For FY24, PowerGrid’s consolidated net profit rose to ₹15,573.16 crore. The board recommended a final dividend of ₹2.75 per equity share for FY24 and approved fund raising of ₹5,000 crore.Jubilant FoodWorks: The company reported a Q4 consolidated net profit of ₹208.2 crore, seven times more than ₹28.5 crore in the year-ago period. Revenue rose 23.8% to ₹1,572.7
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