Category Earnings Results

Tata Investment Corporation ltd
Tata Investment Corporation Q3 Results: Net Income Falls to ₹196.1 Million, Profit Declined

Business and Industry Overview: 

The Tata Investment Corporation Limited (TICL) is a non-banking financial company (NBFC) which is mainly engaged in long-term investments in various industries. East known as India’s Investment Corporation, the company invests in equity shares, loan equipment and equity-related securities, both listed and unlisted. The TICL was promoted by Tata Sons Private. Limited in 1937 and a closely held unit until 1959 remained one of the publicly listed investment companies on the Bombay Stock Exchange. Initially focused on supporting new enterprises, the TICL gradually turned into an investment company with a diverse portfolio. For decades, it has played an important role in the development of many famous Indian companies including SKF Bairing (India) Limited, Ceat Ltd., and National Ryan Corporation. The TICL is currently a subsidiary of Tata Sons, with other TATA companies, 73.38% of its paid capital. The company’s leadership of Noel Tata and F.N. As Vice Chairman is supported by a team of subdaras, financial and investment experts. Non-Banking Financial Companies (NBFCs) have seen significant growth in India’s financial ecosystem, which play an important role in credit expansion and financial inclusion. Their market share in credit distribution increased from 12% in 2008 to 18% in 2019, before 2022 increased competition from banks to 16%. And TICL is one of the famous NBFCs, which has played an important, important role in financing new businesses. 

Latest Stock News: 

The Tata Investment Corporation Limited (TICL) recorded a sharp decline in financial performance for the Q3 FY25, with the revenue fell from ₹ 43.76 million to ₹ 31.68 million a year ago. Per share (EPS) per share from ₹ 10.52 to ₹ 3.88 per share. For nine months, the revenue decreased from ₹ 3,284.9 million to ₹ 2,896.1 million, while net income fell from ₹ 2,743.7 million to ₹ 3,244.9 million, decreased from ₹ 64.13 to ₹ 54.23 with EPS to ₹ 64.13 to ₹ 54.23 with EPS. , Which indicates recession in earnings and revenue. 

Segmental information: 

Equity Investment: TICL mainly invests in a diverse portfolio of equity shares and securities of companies listed and unlisted in various industries including TATA group companies.  

Loans and definite-income investment: The company also invests in loan equipment, including bonds and other certain-oriented securities, providing a stable stream of interest income.  

Dividend and interest income: A important part of TICL’s revenue comes from dividends and interest earned on its investment, ensuring stable returns over time.  

Asset Management: TICL is a co-consent of Tata Asset Management Private Limited, who manages mutual funds and investment portfolio for institutional and retail investors. 

Subsidiary Investments: 

  1. Simto Investment Company Limited (Assistant) – TICL increased its investment portfolio by Simto Investment Company Ltd. It has a majority stake in. 
  1. Tata Asset Management Private Limited (Associate Company)-TICL is a co-commotor of Tata Asset Management, which manages Tata Mutual Fund and provides investment management services.  
  1. Tata Trustee Company Private Limited (Associate Company) – This unit oversees the Tata Mutual Fund schemes, which ensure governance and compliance in property management.  
  1. AMALGAMATED Plantation Private Limited (Associate Company) – TICL has an investment in tea plantation company, the largest in India, which supports its diverse portfolio. 

Q3 Highlights: 

  • Revenue is recorded as ₹38 million, down from ₹516.2 million in Q3 FY24. 
  • Net income is reported as ₹196.1 million, down from ₹532.4 million a year ago. 
  • EPS is ₹3.88, compared to ₹10.52 in the previous year. 

Financial Summary: 

Amount in ₹ Cr Q3 FY24 Q3 FY25 FY23 FY24 
Revenue 31.68 43.76 277 325 
Expenses 6.29 9 32 33 
EBITDA 25.39 34.76 245.00 292.00 
OPM 87% -19% 88% 91% 
Other Income 17 26 36 65 
Net Profit 24.08 34.33 252 284 
NPM 76.01 78.45 90.97 87.27 
EPS 10.52 3.88 49.78 76.09 
Apollo Hospitals Ltd
Apollo Hospitals Q3 Results: 52% Profit Surge, ₹9 Dividend, Revenue Up 14%

Business and Industry Overview: 

Apollo Hospitals was founded in 1983 by Dr. Prathap C. Reddy, widely recognized as the architect of modern healthcare in India. As the country’s first corporate hospital, Apollo Hospitals pioneered the private healthcare revolution and has since evolved into Asia’s leading integrated healthcare services provider. The group has a strong presence across the healthcare ecosystem, including hospitals, pharmacies, primary care and diagnostic clinics, and various retail health models. Additionally, it offers telemedicine services across multiple countries, health insurance solutions, global project consultancy, medical colleges, e-learning through Medvarsity, and specialized colleges for nursing and healthcare management. Its research foundation and initiatives like ‘ASK Apollo’—an online consultation portal—and Apollo Home Health further enhance its service offerings. 

Apollo Hospitals has been at the forefront of introducing cutting-edge medical innovations in India, leveraging rapid advancements in medical technology. Notably, Southeast Asia’s first proton therapy center began operations at the Apollo Center in Chennai. 

The organization has also launched several social initiatives aimed at supporting underprivileged children, including: 

  • SACHi (Save a Child’s Heart Initiative): Focused on pediatric cardiac care for congenital heart diseases. 
  • SAHI (Society to Aid the Hearing Impaired): Provides support for children with hearing disabilities. 
  • CURE Foundation: Dedicated to cancer care. 
  • Total Health Foundation: A unique population health model piloted in Thavanampalle Mandal, Andhra Pradesh, offering holistic healthcare from birth through old age. 

The industry includes hospitals, medical devices, health insurance, and more The healthcare sector has been growing at a compound annual growth rate of around 22% since 2016.  In 2022, the healthcare industry was valued at over $370 billion, and the sector is expected to reach over $610 billion by 2026. Apollo Hospitals is  India’s largest for-profit private hospital network with 71 owned and managed hospitals. Through its subsidiaries, it also runs pharmacies, primary care and diagnostic centers, telehealth clinics, and digital healthcare services. India’s healthcare industry is one of the country’s largest sectors, employing millions of people and contributing billions of dollars to the economy. 

Latest Stock News: 

Apollo Hospitals reported a 52% year-on-year (YoY) increase in net profit, reaching ₹372 crore for the third quarter ended December 31, 2024. Revenue grew 14% YoY to ₹5,527 crore. The company’s board declared an interim dividend of ₹9 per share, setting February 15 as the record date, with payment scheduled on or before February 28, 2025. 

Despite meeting analysts’ estimates with a 14% revenue growth in Q3 FY25, Apollo Hospitals’ shares declined 4.5%. The company remains focused on expanding its healthcare services and technology capabilities. 

Additionally, Apollo Hospitals announced plans to add 3,512 beds over the next 3 to 4 years, starting FY26. 

Segmental information: 

Apollo Hospitals operates across multiple business segments, making it one of India’s most diversified healthcare providers. 

Healthcare Services 

Apollo runs 71 hospitals across India, offering multispecialty and superspecialty care in cardiology, oncology, neurology, orthopedics, and transplants. It has introduced advanced medical technologies, including robotic-assisted surgeries and South East Asia’s first Proton Therapy Centre in Chennai. 

Pharmacy & Digital Healthcare 

Apollo Pharmacy, India’s largest retail pharmacy chain, has 5,000+ stores across 21 states, providing prescription drugs, OTC medicines, and wellness products. Its digital platform, Apollo 24/7, offers teleconsultations, e-pharmacy, and home diagnostics, leveraging AI for personalized healthcare. 

Primary & Secondary Care 

Apollo Health and Lifestyle operates Apollo Clinics, Apollo Diagnostics, Apollo Sugar (diabetes care), Apollo White (dental), Apollo Cradle (women & child care), Apollo Fertility, and Apollo Dialysis, extending care beyond hospitals. 

Telehealth Services 

Apollo TeleHealth provides remote healthcare through B2C, B2B, and B2G models, partnering with government programs to improve healthcare access in rural areas. Established in 1999, it operates 100+ teleclinics across India. 

Health Insurance & Wellness 

Previously operating Apollo Munich Health Insurance (now merged with HDFC Ergo), Apollo continues to support corporate and individual health insurance solutions. 

Education & Research 

Apollo Medvarsity, an e-learning platform, trains medical professionals, while the Apollo Research Foundation focuses on clinical trials and medical research. 

International Healthcare Projects 

Apollo provides global healthcare consultancy, recently signing an MoU with Indonesia’s Mayapada Healthcare Group to enhance oncology, cardiology, neurology, and transplant services. 

With its integrated network of hospitals, pharmacies, digital healthcare, and research, Apollo Hospitals continues to drive innovation and accessibility in healthcare.  

Subsidiary Information: 

  • Apollo HealthCo (formed in 2021) integrates the group’s non-hospital pharmacy chain Apollo Pharmacy with its digital healthcare platform Apollo 24/7. 
  • Apollo Pharmacy: India’s largest retail pharmacy chain, operating over 5,000 stores across 21 states. Established in 1987. 
  • Apollo 24/7: The group’s digital healthcare platform, launched in 2020, offering telehealth consultations, online medicine orders, home diagnostics, and more. 
  • Apollo Health and Lifestyle: The group’s primary and secondary care arm, which operates: 
  • Apollo Clinics: Multi-specialty clinics. 
  • Apollo Diagnostics: Pathology and diagnostic labs. 
  • Apollo Sugar: Diabetes management clinics. 
  • Apollo White: Dental hospitals. 
  • Apollo Dialysis: Dialysis centers. 
  • Apollo Spectra: Minimally invasive surgical hospitals. 
  • Apollo Cradle: Women and children’s hospitals. 
  • Apollo Fertility: Fertility clinics. 
  • Apollo TeleHealth Services: 
  • Manages the group’s telehealth network via multiple models: 
  • Business-to-Consumer (B2C): Direct services like online consultations, appointment booking, and medicine delivery. 
  • Business-to-Business (B2B): Corporate telehealth services. 
  • Business-to-Government (B2G): Telehealth partnerships with public healthcare systems. 
  • Established in 1999, headquartered in Hyderabad, with over 100 franchised teleclinics. 

Q3 Highlights: 

  • PAT jumps 52% YoY to Rs 372 crore, revenue rises 14%; Rs 9 per share dividend declared 
  • declared an interim dividend of Rs 9 per share and fixed February 15 as the record date for the same. 
  • Apollo Hospitals’ consolidated profit rose 51.8 per cent year-on-year (Y-o-Y) to Rs 372.3 crore in Q3FY25, from Rs 245.3 crore in the same quarter previous fiscal year (Q3FY24) 

Financial Summary: 

Amount in ₹ Cr Q3 FY24 Q3 FY25 FY23 FY24 
Revenue 4,851.00 5,527.00 16,612 19,059 
Expenses 4,237 4,765 14,548 16,665 
EBITDA 643 831.00 2,140.00 2,498.00 
OPM 13% 14% 12% 13% 
Other Income 29 69 75 105 
Net Profit 254.00 379.00 844 935 
NPM 5.24 6.86 5.08 4.91 
EPS 17.06 25.89 56.97 62.5 
Vodafone Idea Ltd.
Vodafone Idea Q3 Results: 4% Revenue Growth, ₹6,609 Crore Loss, ARPU at ₹173

Business and Industry Overview: 

Vodafone Group Plc is a multinational telecom firm based in the United Kingdom. Its global headquarters and registered office are located in Newbury, Berkshire, England. It predominantly operates services in Asia, Africa, Europe, and Oceania. As of January 2025, Vodafone owns and operates networks in 15 countries, with partner networks in 46 further countries. Its Vodafone Global Enterprise division provides telecommunications and IT services to corporate clients in 150 countries. Vodafone has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. The company has a secondary listing on the NASDAQ as American depositary receipts (ADRs). 

Vodafone India is the Indian subsidiary of the UK-based Vodafone Group. It provides telecommunications services in India and has its operational head office in Mumbai. The Vodafone Idea network has approximately 375 million subscribers and is the third-largest mobile telecommunications network in India. 

Currently, India is the world’s second-largest telecommunications market, with a total telephone subscriber base standing at 1,203.69 million and having registered strong growth in the last decade. The Indian mobile economy is growing rapidly and will contribute to India’s Gross Domestic Product (GDP), according to a report prepared by the GSM Association (GSMA) in collaboration with Boston Consulting Group (BCG). Vodafone Idea is one of the dominant players in the market with 18.19% market share.  

Latest Stock News: 

Telecom giant Vodafone Idea’s consolidated net loss narrowed to ₹6,609 crore in the quarter ended December 2024, down from ₹6,986 crore in the same period last year. The company’s revenue from operations for Q3FY25 stood at ₹11,117 crore, reflecting a 4% rise Vodafone Idea reported a reduction in its consolidated net loss for the December quarter to₹6,609 crore, compared to ₹6,986 crore in the same period last year.  

Average revenue per user (ARPU), a key metric for all telecoms, has increased sequentially by 4.7% to₹173 in Q3 FY25, compared to₹166 in the September quarter. 

Segmental information: 

Vodafone operates in several business segments, primarily categorized into: 

1. Consumer Segment: It provides mobile and fixed-line telecommunications services to individual customers. It also offers broadband, TV, and digital services. 

2. Vodafone Business (enterprise segment): Vodafone serves corporate clients, small businesses, and public-sector organizations. It also offers connectivity services (mobile, fixed, IoT, 5G), cloud and security solutions, unified communications, and managed services. Multinational corporations, SMEs, and IoT services are the major revenue contributors. 

3. Vodafone Towers (Vantage Towers): Vodafone’s tower infrastructure in Europe is managed by Vantage Towers. It also focuses on leasing tower space to other telecom operators. 

4. Financial & Digital Services: This includes M-Pesa (an African-based mobile money service), digital payments, insurance, and fintech solutions. 

Subsidiaries: 

  1. Vodafone Idea Telecom Infrastructure Limited (VITIL): It provides passive infrastructure services, including renting out fiber networks to telecommunication service providers. 
  1. Vodafone Idea Business Services Limited (VIBSL): It acts as an outsourcing hub for backend IT support, data center operations, and hosting services for the company and its subsidiaries. Also holds an Other Service Provider (OSP) license. 
  1. You Broadband India Limited (YBIL): provides high-speed broadband internet access through cable networks. 
  1. Vodafone Idea Communication Systems Limited (VICSL) : It trades mobile handsets, data cards, and related accessories and services. 
  1. Vodafone Idea Shared Services Limited (VISSL): It functions as an outsourcing hub for finance and accounts, human resources, supply chain management, credit and collection support, customer support, and IT needs for data consolidation and backend support for the company and its subsidiaries. 
  1. Vodafone Idea Technology Solutions Limited (VITSL): It provides technology, software, hardware, value-added services (VAS), application software, content, and related products and services. It also offers data center-related services and IT solutions, including e-SIMs. 
  1. Vodafone Idea Manpower Services Limited (VIMSL): It provides manpower services to the company. 
  1. Vodafone Foundation (VF): A Section 8 company under the Companies Act, 2013, serving as an implementing agency for corporate social responsibility (CSR) activities for the company, its subsidiaries, associates, joint ventures, and promoter group companies. 

Joint Venture: 

  1. FireFly Networks Limited: A joint venture with Bharti Airtel, focusing on deploying Wi-Fi solutions for businesses, smart cities, and retail spaces. 

Associate Company: 

  1. Aditya Birla Idea Payments Bank Limited: A payments bank offering digital banking services such as mobile wallets, savings accounts, and online transactions. Operations have been discontinued due to regulatory and business challenges. 

Q3 Highlights: 

  • Net Loss down to ₹6,609.3 crore versus loss of ₹7,175.9 crore, QoQ 
  • Revenue up 1.7% at  ₹11,117.3 crore versus ₹10,932.2 crore, QoQ 
  • Average Revenue Per User (ARPU) up at ₹173 versus ₹166, QoQ 
  • EBITDA up 3.6% at ₹4,712.4 crore versus ₹4,549.8 crore, QoQ 
  • Margin at 42.4% versus 41.6%, QoQ 
  • Vodafone Idea net loss narrows to ₹6,609 crore, revenue rises 4% YoY; ARPU up at ₹173 
  • Total subscriber base at 199.8 million 

Financial Summary: 

Amount in ₹ Cr Q3 FY24 Q3 FY25 FY23 FY24 
Revenue 10,673.00 11,117.00 42,177 42,652 
Expenses 6,324 6,405 25,424 25,580 
EBITDA 5130 4,712.40 17,162.00 17,106.00 
OPM 41% 42% 40% 40% 
Other Income 780 250 354 917 
Net Profit -6,986.00 -6,609.00 -29,301 -31,238 
NPM -65.45 -59.45 -69.47 -73.24 
EPS -1.44 -0.95 -6.02 -6.23 
Patanjali Foods Ltd
Patanjali Foods Q3 Results: Net Profit Soars 71% YoY to ₹370 Crore, Revenue Strong Rises 15%

Patanjali Foods Limited: Overview 

Patanjali Foods Limited, earlier known as Ruchi Soya Industries Limited, is a major Indian multinational fast-moving consumer goods (FMCG) company that specializes in the food processing industry. Established in 1986 and headquarters in Indore, Madhya Pradesh, the company has developed as an important player in the edible oil sector and has diversity in various food and FMCG products. In 2019, Patanjali Ayurved under the leadership of Baba Ramdev and Acharya Balakrishna acquired Ruchi Soya, taking a strategic step to strengthen its position in the FMCG market. Subsequently, in June 2022, the company was rebuilt as Patanjali Foods Limited to align with the brand identity of its original company. The Indian FMCG region is experiencing a strong growth, which is inspired to increase consumer demand for health-centered and natural products. Patanjali foods have capitalized this trend by offering a series of products emphasizing traditional and natural ingredients. The company’s cooperation with Patanjali Ayurved has enhanced its brand image, taking advantage of the increasing consumer preference for Ayurvedic and organic products. However, the industry is highly competitive, in which many players are dying for market share, constant innovation and effective supply chain management. 

Latest Stock News 

Patanjali Foods Limited is moving positively after completing the consolidation of their home and personal care (HPC) business in relation to the broader market of consumer goods. Edible oil earned high profits regardless of the volatility in the world markets by controlling cost and operating efficiently. In order to enhance brand recognition and customer loyalty, the company has put more effort into marketing and advertising using a celebrity spokesperson. Moreover, Patanjali Foods has actively pursued the expansion of their oil palm plantation which strengthens their long term growth strategy in the edible oil segment. The company reported revenues from export sales of .2 67.27 crore during the quarter as they established a customer base in 29 countries. Overall, however, the FMCG sector showed a lower demand rate mainly through urban areas. In spite of this cross sector recession, food and FMCG segment added contributed 22.19% to the turnover for the quarter. Since the Patanjali Foods’ integration of the business, the Winsome Dental Kanti products and herbals Beauty Wash also considered as Marquet products has led the segment spending of HPC business to earn revenue of 420.36 crores. 

The edible oil segment by itself contributed a revenue of 6,717.47 crore, up from 5,482.64 from the previous period, in the previous period, a significant growth from 5,482.64 crore, with branded edible oils contributing about 75% of the total edible oil sales. Additionally, the company continues to progress in stability, earning ₹ 6.15 crore for Q3Fy25 with its Windmill Energy Segment. Patanjali foods also meet about 20% of their total energy requirements from renewable sources, which outlines their commitment for permanent operations. 

Business Segments: 

  • Edible oil: The company processs oilseeds and refines crude oil to produce various types of edible oils including soybean, sunflower, mustard and peanut oil. These products are marketed under well -established brands such as Ruchi Gold, Mahakosh and Sunric, who have achieved important consumer trusts over the years. The company has also entered the production of catering, vegetation and bakery fat for both retail consumers and industrial customers. 
     
  • Food and FMCG products: Variety beyond edible oils, Patanjali foods have expanded food and FMCG area, offering a wide array of products. This segment includes items such as biscuits, noodles, breakfast grains, texcharged soy protein and neutraceuticals. The neutralla brand known for its soy-based products has been an important contributor in this segment. In recent years, the company has also introduced new product lines, including health-oriented snacks and ready-to-Eat food, which align with the growing consumer demand for convenient and nutritious food options.  
     
  • Pawan Turbine Power Production: Patanjali foods have invested in renewable energy through their wind turbine power generation section. The company operates windmills with a total installed capacity of 84.6 MW, generates clean power for closure use and contributes surplus energy to the grid. This initiative not only supports environmental stability, but also helps in reducing operating energy costs. 

Subsidiary Information: 

  • Contemporary Agro Private Limited: In April 2024, Patanjali Foods included contemporary Agro Private Limited as a fully owned subsidiary. The primary objective of this assistant is to provide training to farmers, increase agricultural practices and new in farming and plantation activities. By focusing on improving the quality of seeds for fruits, vegetables and grains, contemporary agriculture aims to strengthen the company’s supply chain and promote sustainable agriculture.  
  • Rishikishi Farming Private Limited: Rishikrishi Farming Private Limited was also established in April 2024 as a fully owned subsidiary. This unit shares a uniform mission to advance agricultural practices by providing training and resources to farmers. A subsidiary focuses on taking advantage of human resources in farming to improve and create better agricultural methods, which contributes to the overall efficiency and productivity of the company’s agricultural supply chain. 

Q3 FY25 Earnings 

  • Revenue of ₹9103 crore in Q3 FY25 up by 15.3% YoY from ₹7911 crore in Q3 FY24.  
  • EBITDA of ₹541 crore in this quarter at a margin of 6% compared to 4% in Q3 FY24. 
  • Profit of ₹371 crore in this quarter compared to a ₹217 crore profit in Q3 FY24. 

Financial Summary 

Amount in ₹ Cr Q3 FY24 Q3 FY25 FY23 FY24 
Revenue 7911 9103 31525 31721 
Expenses 7567 8563 30231 30453 
EBITDA 344 541 1294 1286 
OPM 4% 6% 4% 4% 
Other Income 47 41 290 240 
Net Profit 217 371 886 765 
NPM 2.7% 4.1% 2.8% 2.4% 
EPS 5.9 10.3 24.5 21.2 
Grasim Industries
Grasim Industries Q3 Results: Net Profit Dips 41% to ₹899 Cr, Revenue Grows 9% to ₹34,793 Crore

Grasim Industries Ltd: Overview

Grasim Industries, a major company of Aditya Birla Group, is one of the major diverse groups of India with the presence in many fields including cement, textiles, chemicals and financial services. Established in 1947 and headquarters in Mumbai, Grasim developed into a prominent player in the Indian Industrial Scheme, which has contributed significantly to the country’s infrastructure, manufacturing and consumer sectors. The company works in industries that are important for India’s economic growth, such as cement (through UltraTech cement), Viscose Staple Fiber (VSF), caustic soda and textiles. It is also expanding in new-age businesses such as paint, B2B e-commerce, and advanced material solutions, reflecting its commitment to diversification and innovation. The Indian industrial sector is ready for growth, inspired by an increase in urbanization, investment of growing infrastructure and favorable government policies. The chemical region, where Grasim has a strong leg, is looking after increasing demand due to increase in industries of manufacturing and consumer goods. Similarly, the government continues to benefit from the push for infrastructure including highways, housing and smart cities in the cement sector. With a strong balance sheet and strategic investment in high-development areas, Grasim is well deployed to redeem the emerging opportunities. 

Latest Stock News 

The B2B e-commerce segment of Grasim Industries is increasing in various categories, geography and healthy revenue growth in new customers. The USD is on a trade track to achieve an ambitious revenue target of $ 1 billion by FY 27. The cement division has been reached 171.2 MTPA, including Indian and foreign operations; Ultra-tech cement, recently 14.45 MTPA from India Cements Limited. In the Paints segment, Grasim began commercial production in its Chamrajnagar feature in Nov. 2024, in which Mahad plant will be expected to start operations in Q4 FY25. Clothing Business Revenue D-3% YoY to ₹ 558 Cr. The first phase with a capacity of 55k TPA will require an investment of ₹ 1,350 crore in the next two years. Akshay trade cumulative established capacity increased to 1.2 GW, out of which 37% are with group companies in the cement sector, domestic gray cement reality has declined 9.6% YOY, but 1.4% QOQ improvement has been shown, which has shown which has been shown Who is mount per copy. It has reached ₹ 4,970. As of 31 December, 2024, the company’s total capital expenditure was 9,015 crore, which represented about 90% of the total planned project cost. 

Business Segments 

  • Cement: Grasim near UltraTech Cement, India’s largest cement manufacturer, one of the top global producers. Ultratech has a total capacity of over 132 MTPAs, which have deals in infrastructure and real estate projects across India and abroad. The company operates over 20 integrated cement plants, 26 grinding units and 7 bulk terminals, which ensure a wide distribution network and strong market appearance.  
      
  • Viscose Staple Fiber and Textiles: Grasim is the largest producer in India, a major raw material in the textile industry. The company’s VSF division supplies environmentally friendly, biodegradable fiber to global textile manufacturers, catering for increasing demand for sustainable fashion. Its Leva brand has obtained significant traction between major dresses brands, which offers better comfort and liquidity.  
     
  • Chemical: Grasim is a prominent player in the chemical field of India, which uses special chemicals used in industries such as caustic soda, chlorine derivatives and industries such as textiles, paper, aluminium and pharmaceuticals. The company has a strong market share in the caustic soda segment, with more than 1.3 million TPA production capacity.  
      
  • Paints: Grasim has entered the paints industry with his brand “Birla Opus”, which marks his forest in the competitive Indian decorative paints market. , With an investment of over 10,000 crores, Grasim is setting up several paint manufacturing plants across India, which aims to disrupt the industry with new products and a customer-focused approach. 

Subsidiary Information 

  • UltraTech Cement Limited: UltraTech Cement is the most important subsidiary of Grasim and India’s largest cement manufacturer is with a global appearance in UAE, Bahrain and Sri Lanka. Ultratech continues to lead the permanent construction solution and capacity extension, which ensures long -term market leadership. 
  • Aditya Birla Capital Limited: Aditya Birla Capital Limited (ABCL) is the Financial Services Branch of Grasim, which provides a comprehensive category of financial products including asset management, insurance, loan and money management. With a strong digital appearance and over 30 million customer bases, the ABCL is a major development driver for the group. 
  • Aditya Birla Renewables Limited: Grasim has invested in Aditya Birla Renewables Limited, which focuses on clean energy solutions including solar and wind energy. The company is expanding its renewable energy capacity to support Grasim’s manufacturing units and contribute to India’s clean energy goals.
  • Aditya Birla Chemicals: Grasim’s subsidiary, Aditya Birla is a leader in the special chemistry market, producing chlorine-alkali products, epoxy resins, and advanced materials. The company serves industries such as construction, motor vehicles, and pharmaceuticals, with focus on innovation and stability.   
  • Aditya Birla Clothes: Grasim’s textile division produces high-quality fibers and yarn products used in domestic and global markets through Aditya Birla textiles. With the commitment of permanent production, the company plays an important role in the textile sector led by Grasim. 

Q3 FY25 Earnings 

  • Revenue of ₹ 34,793 crore in Q3 FY25 up by 8.9% YoY from ₹ 31,965 crore in Q3 FY24. 
  • EBITDA of ₹ 6,796 crore in this quarter at a margin of 20% compared to 22% in Q3 FY24. 
  • Profit of ₹ 1,844 crore in this quarter compared to a ₹ 2,603 crore profit in Q3 FY24. 

Financial Summary 

Amount in ₹ Cr Q3 FY24 Q3 FY25 FY23 FY24 
Revenue 31965 34793 117627 130978 
Expenses 25073 27997 96038 103783 
EBITDA 6893 6796 21589 27195 
OPM 22% 20% 18% 21% 
Other Income 256 379 3733 783 
Net Profit 2603 1844 11078 9926 
NPM 8.1% 5.3% 9.4% 7.6% 
EPS 22.3 13.7 100.3 85.4 
Engineers India Limited
Engineers India Limited (EIL) Q3 Results: 71.63% Profit Surge, 3% Share Price Dip & Future Outlook

Business and Industry Overview: 

Engineers India Limited (EIL) is an Indian public sector technology, engineering consultancy, and technology licensing company. It was established on March 15, 1965, as a private limited company under the name Engineers India Private Limited under a memorandum of agreement dated June 27, 1964, between the Government of India and Bechtel International Corporation. In May 1967, EIL became a wholly-owned Government of India (GoI) enterprise. It provides indigenous technology solutions across hydrocarbon projects. Over the years, it had additional diversification into synergic sectors like non-ferrous metallurgy, infrastructure, water and wastewater management, and fertilizers. EIL is headquartered at Bhikaji Cama Place, New Delhi. EIL also has an R&D complex at Gurgaon, a branch office in Mumbai, regional offices at Kolkata, Chennai, and Vadodara, inspection offices at all major equipment manufacturing locations in India, and overseas offices in London (England), Milan (Italy), Shanghai (China), Abu Dhabi (UAE). 

Latest Stock News:

With the announcement of Q3 Results, the net profit of Engineers India rose 71.63% to Rs 108.73 crore in the quarter ended December 2024 as against Rs 63.35 crore during the previous quarter ended December 2023. The sales of the company have declined by 11.88% to Rs 764.59 crore in the quarter ended December 2024 as against Rs 867.64 crore during the previous quarter ended December 2023.  

On 3 February the company announced that it had successfully bagged a project worth 1200 Cr as the project management consultant for the development of an academic institute of national importance.  

Segmental information:
The major business areas wherein EIL provides its engineering consultancy services are: Petroleum Refining, Petrochemicals, Chemicals & Fertilizers, Crude, Petroleum products & Gas Pipelines, Onshore & Offshore Oil & Gas, Terminals & Storage Underground crude oil storages, Mining & Metallurgy, Infrastructure & Urban Development, Biorefinery, Gas Processing Station, Nuclear Power, & Revamp of existing plants in above category. EIL has also ventured into various unconventional energy resource projects like solar, 2G ethanol, bio-fuel, etc. EIL provides a wide range of engineering consultancy and EPC services to its clients which include:  

  • Process Design 
  • Engineering 
  • Supply Chain Management 
  • Project Management 
  • Construction Management 
  • Specialized services like Heat & Mass Transfer, Plant Operation & Safety Management, Specialist Materials & Maintenance services, Environment Engineering 

Subsidiary Information:

EIL has a wholly-owned subsidiary Certification Engineers International Limited (CEIL) & also has set up a joint venture company namely Ramagundam Fertilizers and Chemicals Limited (RFCL) to enhance its presence in the fertilizers sector. 

Certification Engineers International Ltd.: Certification Engineers International Ltd. (CEIL) is a wholly owned subsidiary of EIL providing services related to Certification, Re-certification, safety audit, and HSE management systems for offshore and onshore oil & gas facilities. It also undertakes Third Party Inspection of equipment and installations in the Hydrocarbon and other quality-sensitive sectors of the Industry. Over the years, CEIL has emerged as one of the leading certification and verification Agencies for offshore process platforms, well platforms, submarine pipelines, and single buoy mooring systems. The Company promotes safety, quality, and reliability throughout the design and operating life of all types of equipment, structures, pressure vessels, pipelines & rotating machinery. The worldwide services cover all types of capital goods and equipment, during manufacture and erection stages for oil, gas & general engineering sectors. 

Ramagundam Fertilizers and Chemicals Limited (RFCL):  

For setting up a gas-based urea plant of capacity 3850 TPD, EIL, National Fertilizers Limited (NFL), and Fertilizer Corporation of India (FCIL), have incorporated RFCL as a Joint Venture Company at Ramagundam in the Karimnagar district of Telangana. NFL & EIL will each have 26% equity in the JV Company. EIL has been retained as a Project Management Consultant for project execution in EPCM mode. The Project completion schedule to commission the plant is 36 months. NFL is a reputed player in the fertilizer sector and their expertise would be utilized for operating the plant as well as for marketing the products. The plant is being built on the existing land of FCIL. 

Q3 Highlights:

  • Engineers India’s consolidated net profit rose 71.63% in the December 2024 quarter 
  • Net Sales at Rs 750.16 crore in December 2024 down 12.4% from Rs. 856.33 crore in December 2023. 
  • Quarterly Net Profit at Rs. 88.10 crore in December 2024 up 75.42% from Rs. 50.22 crore in December 2023. 
  • EBITDA stands at Rs. 128.21 crore in December 2024 up 66.36% from Rs. 77.07 crore in December 2023. 

Financial Summary:

Amount in ₹ Cr Q3 FY24 Q3 FY25 FY23 FY24 
Revenue 868.00 765.00 3,330 3,281 
Expenses 818 667 3,020 2,982 
EBITDA 77.07 128.21 475.00 518.00 
OPM 6% 13% 9% 9% 
Other Income 30 38 164 219 
Net Profit 63.00 109.00 346 445 
NPM 7.26 14.25 10.39 13.56 
EPS 1.13 1.93 6.16 7.92 
Eicher Motors
Eicher Motors Q3 Results: Strong Net Profit Rises 17.5% to ₹1,170.5 Cr, Slightly Below Estimates

Business and Industry Overview

Eicher Motors Limited, the parent company of Royal Enfield, is an Indian multinational automotive company that manufactures motorcycles and commercial vehicles. It is headquartered in Chennai, India, and is publicly traded on the Bombay and National Stock Exchanges. They manufacture a range of Iconic motorcycles (Royal Enfield) and Modern commercial vehicles (for VECV). It is the oldest motorcycle brand in continuous production, Royal Enfield, which made its first motorcycle in 1901. Royal Enfield, which is a division of Eicher Motors Limited, has created the mid-size motorcycle segment in India with its unique and distinctive modern classic motorcycles. It is one of the largest players in India in the motorcycle industry.  

The Eicher Group has diversified business interests in design and development, manufacturing, and local and international marketing of trucks, buses, motorcycles, automotive gears, and components. VE Commercial Vehicles (VECV) Limited is a joint venture between Volvo Group and Eicher Motors Limited, which manufactures  Eicher Trucks and Buses, Volvo Trucks India, Eicher Engineering Components & VE Powertrain. Royal Enfield Motors, the subsidiary of Eicher Motors, manufactures various motorcycles, including the Bullet, Classic, Thunderbird, and Himalayan. It exports motorcycles to over 30 countries, including the USA, Japan, and the UK. It has created unique and distinctive modern classic bikes. 

Indian Motorcycles Market has skyrocketed in 2024. Domestic sales scored a memorable 2024, hitting a new record and the highest level ever achieved by a single market worldwide, with 20.5 million sales.  The two-wheeler market is witnessing strong growth, with scooter sales rising 22.3% and motorcycles growing 13.3%, largely driven by the booming electric vehicle (EV) segment. Royal Enfield is also one of the biggest players in the market. It has a target audience of young riders, middle-aged enthusiasts, and female riders. The company’s marketing strategy focuses on creating a sense of community and appealing to a diverse demographic. 

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Following Q3FY25 results, Eicher Motors’ stock dropped nearly 7% as Goldman Sachs lowered its target price. The company reported an 18% increase in net profit to ₹1,170 crore, and revenue surged by 19%, despite a reduction in EPS estimates due to rising marketing costs. Eicher Motors recorded an 18 percent rise in net profit to ₹1,170 crore for the third quarter, compared to ₹995.97 crore in the same period of the previous financial year. Revenue from operations surged 19 percent to ₹4,888 crore in Q3 FY25, compared to ₹4,116 crore in the corresponding quarter last year. The company’s EBITDA grew 10 percent year-on-year (YoY) to ₹1,201 crores from ₹1,090 crores in Q3 FY24. The VE Commercial Vehicles (VECV) segment posted a 6 percent YoY increase in revenue to ₹5,801 crore, while EBITDA 

 for the segment rose 16 percent to ₹509 crore. The segment’s profit after tax surged 44 percent to ₹301 crore. Royal Enfield continued to strengthen its foothold in the mid-size motorcycle segment, posting its highest-ever quarterly sales volume of 269,039 motorcycles, a 17 percent increase from 229,214 motorcycles sold in Q3 FY24. 

Segmental information

Motorcycle segment:  

EML’s Royal Enfield brand has a market share of over 85% in the premium motorcycle segment.  It is the global leader in the 250cc–750cc mid-segment motorcycle market. Its portfolio includes the Bullet, Classic 350, Hunter 350, Interceptor 650, Meteor 350, Super Meteor 650, Himalayan 450, Scram 411 ADV, and Continental GT 650.  With its new manufacturing base in Chennai, India, Royal Enfield can grow its production rapidly against a surge in demand for its motorcycles. Royal Enfield is fast becoming a very important player in the global mid-size motorcycle market and is working towards re-inventing this space with motorcycles that are evocative, engaging, and great fun to ride. 

Commercial vehicle segment: 

EML has a joint venture with Volvo called VE Commercial Vehicles (VECV). It has a 54.5% stake in VECV. In operation since July 2008, the company includes the complete range of Eicher branded trucks and buses, VE Powertrain, Eicher’s components, and engineering design services businesses, the sales and distribution business of Volvo Trucks as well as aftermarket support to Volvo Buses in India. VECV’s vision is to be recognized as the industry leader driving modernization in commercial transportation in India and the developing world. VECV’s vision is to be the industry leader in modernizing commercial transportation in India and the developing world.  

Subsidiary Information

The company has six subsidiaries, 6 CDK(Completely Knocked Down) Units, 2 Tech Centers & 4 manufacturing units worldwide.  The subsidiaries are:  

RENA (Royal Enfield North America Ltd): Manages operations in North America, including the U.S. 

Royal Enfield Canada Ltd: Manages operations in Canada. 

Royal Enfield (Thailand) Ltd: Manages operations in Thailand.  

Royal Enfield UK Ltd: Manages operations in the UK.  

RE Brazil (Royal Enfield Brasil Comercio de Motocicletas Ltd): Manages operations in Brazil. 

Royal Enfield Europe B.V (Netherlands): Manages operations in Europe.  

Q3 Highlights

  • PAT has increased 17% YoY to Rs 1,170 crore in Q3 FY25 as compared with Rs 995.97 crore in Q3 FY24. 
  • Profit before tax (PBT) jumped 12.6% YoY to Rs 1,460.82 crore during the quarter. 
  • EBITDA stood at Rs 1,201 crore in Q3 FY25, registering a growth of 10% as compared with Rs 1,090 crore in Q3 FY24. EBITDA margin declined 24.2% in Q3 FY25 as against 26.1% in Q3 FY24. 
  • Royal Enfields sales volumes stood at 269,039 motorcycles, up 17% from 229,214 motorcycles sold during Q3 FY 2023-24. 
  • Revenue from VE Commercial Vehicles (VECV) increased 6% to Rs 5,801 crore in Q3 FY25 as compared with Rs 5,483 crore in Q3 FY24. VECV reported sales of 21,012 units, registering a growth of 1.48% compared to 20,706 units sold in Q3 FY24. 

Financial Summary

Amount in ₹ Cr Q3 FY24 Q3 FY25 FY23 FY24 
Revenue 4,179.00 4,973.00 14,442 16,536 
Expenses 3,089 3,772 10,996 12,206 
EBITDA 1,090 1,20 4,354.00 5,851.00 
OPM 26% 24% 24% 26% 
Other Income 368 452 908 1,521 
Net Profit 996.00 1,170.00 2,914 4,001 
NPM 23.83 23.53 20.18 24.20 
EPS 36.38 42.7 106.55 146.13 
Varun Beverages
Varun Beverages Reports 36% YoY Profit Growth and 39.78% Revenue Surge in Q3

Business and Industry Overview

Varun Beverages Limited is an Indian multinational company that manufactures, bottles, and distributes beverages. It is the largest bottling company of PepsiCo’s beverages in the world outside the United States. The Company manufactures, distributes, and sells a wide range of carbonated soft drinks (CSDs), as well as a large selection of non-carbonated beverages (NCBs), including packaged drinking water sold under trademarks owned by PepsiCo. 

Pepsi, Pepsi Black, Mountain Dew, Sting, Seven-Up, Mirinda Orange, Seven-Up Nimbooz Masala Soda, and Evervess are PepsiCo products that is produced and sold by VBL. It has been granted franchisees for various PepsiCo products across 27 States and 7 Union Territories in India (responsible for ~90% beverage sales volume of PepsiCo India). Beginning with its incorporation and early expansion, PepsiCo acquired a 26% stake in 1998. In 2004, Devyani Beverages merged with VBL, further strengthening its operations.VBL has also been granted the franchise for the territories of Nepal, Sri Lanka, Morocco, Zambia, and Zimbabwe. Currently, our operations span six countries across the Indian sub-continent and Africa, collectively serving over 1.4 billion customers. 

The beverage industry is a very vast industry with various major players in the industry and Pepsi is one of the largest players with 33 % of the total market share. Varun Beverages Limited (VBL) accounts for about 90% of PepsiCo’s beverage sales in India. Revenue in the Beverages Market is projected to reach US$1,389.00m in 2025. The revenue in this industry is expected to show an annual growth rate (CAGR 2025-2029) of 11.90%, resulting in a projected market volume of US$2,178.00m by 2029. 

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Varun Beverages Ltd reported a 36 percent rise in consolidated net profit at ₹195.64 crore for the December quarter of 2024 driven by volume growth and improved margins. The company, which follows the calendar year as its financial year, had posted a net profit of ₹143.76 crore during the October-December period a year ago, according to a regulatory filing from VBL. Revenue from operations was higher at ₹3,817.61 crore during the fourth quarter as against ₹2,730.98 crore in the corresponding period last fiscal. The EBITDA increased by 38.7 percent to ₹579.97 crore from ₹418.29 crore.  

Segmental information

It has 3 main business segments in India: 

Carbonated soft drinks: It is a major distributor partner of Pepsi products in India which includes products like Pepsi, Pepsi Black, Mountain Dew, Sting, Seven-Up, Mirinda Orange, Seven-Up Nimbooz Masala Soda, and Evervess.  

Non-carbonated drinks: Apart from carbonate drinks it also manages  the production and distribution of Tropicana Slice but only distributes other Tropicana products like Tropicana 100% and Tropicana Delight in India.  

Dairy-based beverages: VBL’s parent company, RJ Corp, has a strong presence in the dairy industry through its subsidiary Devyani Agro Industries, which produces and sells dairy products under the brand Cream Bell in India. 

Subsidiary Information

Varun Beverages (Nepal) Private Limited: 

• Varun Beverages Lanka (Private) Limited 

– Ole Springs Bottlers (Private) Limited (step-down subsidiary) 

• Varun Beverages Morocco SA 

• Varun Beverages (Zambia) Limited 

• Varun Beverages (Zimbabwe) (Private) Limited 

• Varun Beverages RDC SAS 

• Varun Beverages International DMCC 

• Varun Beverages South Africa (Pty) Ltd.:  

• VBL Mozambique, SA  

• Lunarmech Technologies Private Limited 

Associates 

• Clean Max Tav Private Limited 

• Huoban Energy 7 Private Limited 

Joint Venture 

• IDVB Recycling Operations Private Limited 

Q3 Highlights

  • Revenue Growth has increased by 39.78% to ₹ 3,817.61 crore compared to the latest December quarter (from ₹ 2,730.98 crore a year ago). 
  • EBITDA rose 39% to ₹ 580 crore compared to ₹ 418 crore in the same period last year. 
  • The board declared a   ₹0.50 dividend, subject to shareholder approval in the upcoming AGM, and the record date is yet not decided.  

Financial Summary

Amount in ₹ Cr Q4 FY23 Q3 FY24 FY23 FY24 
Revenue 2,730.980 3,817.61 16,043 20,008 
Expenses 2,249 3,110 12,326 15,298 
EBITDA 418 580 3,075.00 4,830.00 
OPM 16% 16% 23% 24% 
Other Income 9 45 -5 121 
Net Profit 144.00 196.00 2,102 2,634 
NPM 5.40 5.31 13.10 13.16 
EPS 0.41 0.55 6.33 7.67 
Godavari Biorefineries
Godavari Biorefineries Q3 Results: 12% YoY Revenue Growth and Expansion in Bio-Based Chemicals

Business and Industry Overview 

Godavari Biorefineries Ltd., formerly known as The Godavari Sugar Mills Ltd., is an Indian company that operates in the bio-based chemicals, sugar, and power sectors. Established in 1939, it is part of the Somaiya Group and has a long history in the Indian market. The company is headquartered in India and has a diversified product portfolio comprising bio-based chemicals, sugar, rectified spirits, ethanol, other grades of alcohol, and 1 power. Godavari Biorefineries is one of the largest producers of ethanol in India and a pioneer in manufacturing ethanol-based chemicals. The company is also a leading manufacturer of various bio-based products, including MPO worldwide and natural 1,3 butylene glycol globally. The industry outlook for bio-based chemicals is positive, driven by increasing consumer demand for sustainable and environmentally friendly products. The global bio-based chemicals market is expected to grow significantly in the coming years, with factors such as rising crude oil prices and stringent environmental regulations favouring the adoption of bio-based alternatives. Godavari Biorefineries, with its diversified product portfolio and focus on research and innovation, is well-positioned to capitalize on this growth. The company’s recent initiatives, such as the investment in a new corn/grain-based distillery and the exclusive license agreement for manufacturing biobutanol and higher alcohols, demonstrate its commitment to expanding its presence in the bio-based chemicals market.  

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Patanjali Foods Ltd has successfully repaid ₹240 crore in term debt using proceeds from its IPO, significantly strengthening its balance sheet. This debt reduction is expected to lower repayment and interest costs, thereby enhancing free cash flows in the upcoming quarters. The company has also forged a strategic partnership with Catalyxx Inc., securing exclusive rights to advanced ethanol-to-biobutanol conversion technology, further reinforcing its position in sustainable bio-based solutions. Patanjali Foods has developed capabilities for the manufacture and sale of Methyl Propyl Oxide (MPO) and 1,3-Butanediol (1,3 BG), with commercial sales of these products having commenced in 2015. The company holds rights to produce up to 30,000 tons annually of biobutanol and other higher alcohols, with Phase 1 involving the construction and operation of a state-of-the-art 15,000 MTPA facility. However, there was a delay in the commencement of sugarcane crushing due to directives from the Karnataka Government aimed at ensuring better sugar recovery. Additionally, Patanjali Foods has expanded into pharmaceutical research by entering into a Memorandum of Understanding (MoU) with Dr. Sendurai Mani for the development of small molecule inhibitors for cancer. The company received approval from the Central Drugs Standard Control Organisation (CDSCO) in March 2021 to conduct clinical trials on patients with advanced solid tumors, marking a significant step in its foray into the healthcare and biotechnology sector. 

Business Segments

  • Sugar Production: GBL’s sugar segment involves the manufacturing of sugar from sugarcane, leveraging its integrated facilities to optimize production efficiency. The company produces various grades of sugar, catering to both domestic and international markets. By-products from sugar production are utilized in other processes, aligning with GBL’s commitment to sustainable and zero-waste manufacturing. The sugar industry in India is cyclical, influenced by factors such as monsoon patterns, government policies, and international price trends. 
  • Ethanol and Distillery Products: As one of India’s largest ethanol producers, GBL manufactures ethanol and other distillery products, including rectified spirit and extra neutral alcohol. The company’s distilleries have a combined capacity of 570 kilolitres per day, with plans to expand further. In December 2024, GBL announced a strategic investment of approximately ₹130 crore to establish a new 200 KLPD corn/grain-based distillery, enhancing its dual-feedstock capability and ensuring more resilient ethanol production.  
  • Bio-based Chemicals: GBL is a pioneer in the production of bio-based chemicals derived from renewable resources. In December 2024, GBL secured an exclusive license agreement with Catalyxx Inc. to manufacture biobutanol and higher alcohols in India, marking a significant step in sustainable innovation in the chemical industry. This partnership enhances GBL’s product offerings and strengthens its position in the global bio-based chemicals market.  
  • Cogeneration and Renewable Energy: GBL operates cogeneration plants that utilize bagasse, a by-product of sugar production, to generate renewable energy. This not only provides power for the company’s operations but also contributes to the grid, supporting India’s renewable energy initiatives. The cogeneration process exemplifies GBL’s commitment to sustainability and resource optimization. 

Subsidiary Information

  • Solar Magic Private Limited: Solar Magic Private Limited is a wholly-owned subsidiary of GBL, focusing on investments and holdings that complement GBL’s core operations. While specific operational details are limited, this subsidiary plays a role in GBL’s strategic investment initiatives. 
  • Cayuga Investments B.V.: Cayuga Investments B.V., based in the Netherlands, serves as GBL’s international investment arm, facilitating the company’s global expansion and partnerships. This subsidiary enables GBL to access international markets and technologies, supporting its growth objectives. 
  • Godavari Biorefineries B.V.: Godavari Biorefineries B.V., a step-down subsidiary through Cayuga Investments B.V., focuses on the European market, promoting GBL’s bio-based products and exploring new business opportunities in the region. This subsidiary enhances GBL’s presence in Europe, catering to the growing demand for sustainable products. 
  • Godavari Biorefineries Inc.: Incorporated in Delaware, USA, Godavari Biorefineries Inc. is a step-down subsidiary that manages GBL’s operations and business development activities in North America. This subsidiary is instrumental in establishing and strengthening GBL’s relationships with clients and partners in the American market.  

Q3 FY25 Earnings 

  • Revenue of ₹447 crore in Q3 FY25 up by 12.4% YoY from ₹398 crore in Q3 FY24.  
  • EBITDA of ₹36 crore in this quarter at a margin of 8% compared to 11% in Q3 FY24. 
  • Profit of ₹5.7 crore in this quarter compared to a ₹38 crore profit in Q3 FY24. 

Financial Summary 

Amount in ₹ Cr Q3 FY24 Q3 FY25 FY23 FY24 
Revenue 398 447 2015 1687 
Expenses 353 411 1867 1553 
EBITDA 45 36 147 134 
OPM 11.3% 8.1% 7% 8% 
Other Income 2 3.6 7 14 
Net Profit 38.4 5.7 20 12 
NPM 9.5% 12.7% 1% 0.7% 
EPS 9.2 1.1 4.7 2.9 
Rainbow Children’s Medicare
Rainbow Children’s Medicare Q3 Results: 10.56% Net Profit Growth, ₹900 Cr Expansion Plan, and India’s First Fetal Heart Procedure

Business and Industry Overview 

Rainbow Children’s Medicare Limited is a multi-specialty and perinatal care hospital chain in India with headquarters in Banjara Hills, Hyderabad. The company provides healthcare services for children and mothers. It was founded by Dr. Ramesh Kancharla & was incorporated in 1998 it is one of India’s most paediatric multi-specialty and perinatal care hospital chains. Its unwavering commitment to delivering specialized and high-quality healthcare services has been the driving force behind its success and growth.  Currently, Rainbow Hospital Group operates 19 hospitals and 3 outpatient clinics across India. This includes eight hospitals in Hyderabad, four in Bangalore, and two each in Delhi, Chennai, Vijayawada, and Visakhapatnam.  Rainbow Children’s Hospital (Banjara Hills & Marathahalli) is India’s first pediatric hospital to receive JCI’s Gold Seal of Approval, while BirthRight Fertility (Kondapur) is India’s first standalone fertility center with JCI accreditation. 

The Indian paediatric hospitals market generated a revenue of USD 5,275.0 million in 2023 and is expected to reach USD 8,004.4 million by 2030. The Indian market is expected to grow at a CAGR of 6.1% from 2024 to 2030. It is experiencing rapid growth, driven by increasing awareness about child health, rising disposable incomes, and growing demand for specialized pediatric care, with the market projected to expand significantly in the coming years, particularly in areas like super-specialty care and advanced treatments for children; notable players include major hospital chains like Apollo Hospitals and Fortis, with a focus on establishing dedicated pediatric units within their facilities. But Rainbow Children’s Hospital is also considered to be one of the largest pediatric hospital chains in India, holding a significant market share in the pediatric hospital sector.  

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The hospital’s multi-specialist team has recently successfully performed a Fetal heart procedure on 27 weeks 27-week-old baby. It has been recorded in history as it is the world’s first fetal heart procedure on 27 weeks 27-week-old baby. This remarks India’s advancing medical treatment and a very proud move for Indian doctors.  

The hospital has also planned to add Rs 900 Cr for an additional 1000 beds over the next 4 years.  “By 2027 we plan to have eight more hospitals with over 1,000 beds more,” said Rainbow Children’s Medicare chairman & managing director Dr Ramesh Kancharla. While a chunk of the expansion will be funded via internal accruals, about Rs 120 crore will come from the proceeds remaining from the Rs 1,581 crore initial public offering (IPO) it made last year. Rainbow had raised Rs 280 crore via a fresh issue and the remaining Rs 1,301 crore by way of an offer for sale (OFS) by promoters & promoter group and investors.  

With the Q3 results coming up the company’s net profit of Rainbow Children’s Medicare rose 10.56% to Rs 68.69 crore in the quarter ended December 2024 as against Rs 62.13 crore during the previous quarter ended December 2023. Sales rose 18.49% to Rs 398.08 crore in the quarter ended December 2024 as against Rs 335.96 crore during the previous quarter ended December 2023.  

Segmental information

Rainbow Children’s Medicare Limited (RCML) has two business segments: pediatric care and women’s care.  

Pediatric care: It provides newborn care and pediatric intensive care units (ICUs). It includes taking care of babies, especially those who are sick or premature, in specialized units. 

Pediatric multi-specialty services:  It provides care for conditions like neurology, nephrology, gastroenterology, oncology, and cardiology. It has experts who specialize in different areas like brain problems (neurology), kidney issues (nephrology), stomach and digestion (gastroenterology), cancer (oncology), and heart conditions (cardiology). 

Pediatric quaternary care:  It provides organ transplantation and other complex care.  This is for really serious cases, including things like organ transplants. 

Women’s care  

Obstetrics:  It provides normal and complex obstetric care. Care for expectant mothers, from routine checkups to complicated deliveries. 

Gynecology:  It provides gynecology services which include multi-disciplinary fetal care, perinatal genetic, and fertility care. A range of services for women, including specialized care for unborn babies, genetic testing, and fertility treatments. 

Subsidiary Information

  • Rainbow Children’s Hospital Private Limited – RCHPL is a 100 % subsidiary of Rainbow Children’s Medicare.  
  • Rainbow Speciality Hospitals Private Limited – RSHPL is a subsidiary of Rainbow Children’s Medicare with 78.8 % of holdings.  
  • Rainbow Women & Children’s Hospital Private Limited – RWCHPL is a 100 % subsidiary of Rainbow Children’s Medicare.   
  • Rosewalk Healthcare Private Limited – RHPL is a 100 % subsidiary of Rainbow Children’s Medicare.  
  • Rainbow Fertility Private Limited – RFPL is a 100 % subsidiary of Rainbow Children’s Medicare.  
  • Rainbow C R O Private Limited – RCROPL is a 100 % subsidiary of Rainbow Children’s Medicare.  

Q3 Highlights

  • Net Profit has increased by 10.56% to ₹68.69 crore in Q3 FY25 compared to ₹62.13 crore in Q3 FY4.  
  • Sales have increased by 18.49% to ₹398.08 crore in Q3 FY25 compared to ₹335.96 crore in Q3 FY24. 

Financial Summary

Amount in ₹ Cr Q3 FY24 Q3 FY25 FY23 FY24 
Revenue 336.00 398.00 1,174 1,297 
Expenses 218 264 774 865 
EBITDA 275 147 430.00 470.00 
OPM 35% 34% 34% 33% 
Other Income 9 13 19 37 
Net Profit 63.00 69.00 212 218 
NPM 18.75 17.34 18.06 16.81 
EPS 6.12 6.76 20.77 21.38