Stocks to Watch: UltraTech Cement, Tata Chemicals, Linde India, Trent, IOC, BSE
UltraTech Cement: The company announced on Monday that its consolidated profit after tax for Q4FY24 surged by 36% YoY to ₹2,258 crore. This exceeded expectations, driven by a reduction in fuel costs and a double-digit increase in volume. In Q4FY23, the company had posted a net profit of ₹1,666 crore.
The consolidated revenue from operations for the three months ending March 2024 rose by 9.4% YoY to ₹20,419 crore. Bloomberg had projected a PAT of ₹2,123 crore and revenue of ₹20,084 crore for the quarter. The company's Ebitda stood at ₹4,250 crore, yielding a margin of 20.81%.
The effective capacity utilization was 98% for the quarter and 85% for the full year. For the fiscal year ending 31 March, UltraTech reported a consolidated net profit of ₹7,005 crore, marking a 38% increase. Revenue climbed by 12% to ₹70,908 crore, with an Ebitda of ₹13,586 crore.
The Ebitda margin was 19.16%. Tata Chemicals: The Tata group company reported a net loss of ₹850 crore for the quarter ending March FY24, a significant shift from the profit of ₹709 crore it made in the same period last year. The company acknowledged a non-cash asset write-down of ₹963 crore related to the UK's Lostock Plant, which was reported as an exceptional loss.
The company's revenue from operations for the quarter decreased by 21.1% YoY, amounting to ₹3,475 crore. Linde India: The market regulator has instructed the National Stock Exchange (NSE) to engage a valuer to assess the business opportunities relinquished by Linde India and gained by its related party, Praxair India, due to the execution of a joint-venture and shareholders agreement. In 2018, Linde AG, the parent company of LIL, and Praxair AG, the parent company of PIPL, merged to form the NASDAQ-listed
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