Tag Manufacturing

Amber Enterprises Ltd
Amber Enterprises: Market Performance, Growth Insights and Stock Decline in ‘A’ Group

Business and Industry Overview: 

Amber Enterprises India Limited is a leading company that makes air conditioners and their parts. It has been in this business for over 30 years. The company provides full solutions for heating, ventilation, and air conditioning (HVAC). It works with big brands in India and other countries. It makes important parts like heat exchangers, copper tubing, and plastic parts. These parts help improve the quality and performance of air conditioners. 

The company has different divisions. The consumer durables division focuses on making air conditioners. The electronics division makes printed circuit boards (PCBs). These are used in cars, home appliances, and industrial machines. The company also makes special PCBs for airplanes and defense equipment. The railway and defense division makes parts for trains. It also provides cooling systems for telecom, buses, and defense projects. 

Amber Enterprises has 30 factories in India. It has more than 18,000 employees. Over 250 engineers work in research and development (R&D). The company invests in new technology and better products. It focuses on making high-quality products that are also good for the environment. 

As of March 2025, the company has a market value of ₹24,286 crore. Its stock price is ₹7,180. It is listed on the stock market with codes BSE 540902 and NSE AMBER. The company is growing steadily and making profits. 

Amber Enterprises has strong leadership. Kartar Singh is the Chairman. Daljit Singh is the Managing Director. Sudhir Goyal is the Chief Financial Officer (CFO). Konica Yadav is the Company Secretary. The company keeps improving its products. It is known for its focus on innovation, quality, and sustainability. 

The HVAC (Heating, Ventilation, and Air Conditioning) industry in India is growing quickly. Many factors are driving this growth. More people are moving to cities. This increases the need for air conditioners in homes, offices, shopping malls, hospitals, and other buildings. Rising incomes allow people to buy better cooling systems. The climate is changing, making air conditioning necessary in many places. Summers are getting hotter, increasing demand for cooling. As real estate grows, more buildings need HVAC systems for comfort. 

The Indian government is supporting this industry in many ways. Programs like ‘Make in India’ and ‘Atmanirbhar Bharat’ encourage companies to manufacture HVAC products within the country. The Production Linked Incentive (PLI) scheme provides financial support to increase production. The government has also set energy efficiency goals. These aim to reduce electricity use and help India become carbon neutral by 2070. These policies encourage the use of eco-friendly and energy-efficient HVAC systems. 

Experts predict that the Indian HVAC market will reach $30 billion by 2030. It is expected to grow at an annual rate of 15.8%. People are becoming more aware of indoor air quality. They also understand the benefits of energy-efficient cooling systems. This awareness is driving demand for advanced HVAC solutions. New smart technology is improving HVAC systems. IoT-based air conditioners, smart thermostats, and automated climate control systems are making cooling more efficient and easier to use. 

There are many opportunities in this sector. The middle-class population is growing. More people are buying air conditioners. Smaller cities and towns, known as Tier II and Tier III cities, are developing rapidly. This creates a huge market for HVAC products. New technology, like variable refrigerant flow (VRF) systems, helps save energy. Green building projects are also increasing. Certifications like Leadership in Energy and Environmental Design (LEED) and Green Rating for Integrated Habitat Assessment (GRIHA) encourage the use of energy-saving HVAC systems. There is also a high demand for maintenance and repair services. Companies providing these services have great business opportunities. 

However, the industry faces some challenges. Air conditioning systems are expensive. Many people in India cannot afford them. There is also a shortage of skilled technicians. Installing and maintaining HVAC systems requires trained professionals. Meeting government energy efficiency standards is difficult for some companies. Many consumers do not know about the benefits of energy-efficient air conditioners. This slows down the adoption of new technology. 

Despite these challenges, the HVAC industry in India has a bright future. More people are buying air conditioners. Companies are developing better technology. The government is providing strong support. Businesses that focus on energy-efficient, smart, and eco-friendly HVAC solutions have great potential. The industry will continue to grow as technology improves. More people will understand the importance of good indoor air quality and energy savings. This will help the HVAC sector expand further in the coming years. 

Amber Enterprises Ltd. is a big company in India. It makes air conditioners and their important parts like heat exchangers, copper tubes, and plastic parts. Many famous brands trust Amber to make their products. The company has 30 factories across India. These factories help in making products fast and delivering them on time. 

Amber has 250+ engineers who work on new ideas. They try to make air conditioners better and save more energy. The company also makes printed circuit boards (PCBs). These are used in TVs, cars, airplanes, and other machines. Amber also provides cooling systems for trains, buses, and the army. This helps the company grow in different industries. 

The Indian government supports companies that manufacture in India. Programs like ‘Make in India’ and the PLI scheme help Amber make more products at lower costs. The government also wants to reduce pollution and save energy by 2070. Because of this, energy-saving air conditioners are becoming more popular. Amber is working on products that use less electricity and are better for the environment. 

Amber faces some challenges. Many companies make air conditioners, so there is a lot of competition. The prices of materials like copper and aluminum keep changing. This makes it hard to control costs. There are not enough trained workers to install and repair air conditioners. The government also has strict rules that companies must follow. 

Even with these challenges, Amber is growing fast. More people in India are buying air conditioners for homes, offices, and malls. Amber is making smart and energy-saving air conditioners to meet this demand. With strong factories, expert engineers, and government help, Amber will keep growing and remain a leader in the air conditioning industry. 

Latest Stock News: 

Amber Enterprises is a leading company in India. It makes air conditioners and important electronic parts. Many big brands buy these products from Amber. The company is growing fast because more people are buying air conditioners. Electronics demand is also increasing. In the last three months, Amber’s sales grew by 65% compared to last year. This growth came from strong demand for cooling and electronic products. More homes, offices, and factories need air conditioning. The electronics division is also expanding fast. Amber supplies parts for industries like automobiles, consumer electronics, and industrial machines. To grow even more, Amber is making big investments. It is spending INR 6.5 billion on Ascent Circuits, a company that makes electronic parts. This will help Amber expand its electronics business. Amber is also working with a Korean company to make more products in India. This is part of the Production Linked Incentive (PLI) scheme. The Indian government supports local manufacturing through programs like ‘Make in India’ and ‘Atmanirbhar Bharat’. This helps companies like Amber produce more and rely less on imports. 

Amber’s financial future looks strong. Experts say its sales will grow by 26% per year from FY24 to FY27. Its profits will also increase quickly. The company’s earnings before costs (EBITDA) will grow by 33% per year. Its net profit (PAT) will rise by 62% per year. This means Amber is becoming more successful and making more money. 

Amber’s stock has performed better than the Sensex. It has given good returns over both short-term and long-term periods. However, on March 21, 2025, the stock price fell after a four-day gain streak. Despite this, Amber remains a strong company with good future growth potential. 

With more demand for air conditioners and electronics, Amber is in a great position. It is increasing production and bringing in new technology. Government support is helping the company grow. With strong sales, big investments, and a focus on new opportunities, Amber is expected to expand even more in the coming years. 

Potentials: 

Amber Enterprises is growing fast and has big plans for the future. It is building two new factories to make more air conditioners and electronic parts. The company is also expanding into electronics by making its own printed circuit boards (PCBs) through a new partnership with Korea Circuits. Amber is entering the washing machine business by working with Resojet to make fully automatic washing machines. It is also making parts for trains and has partnered with Titagarh Rail Systems and Yujin Machinery to supply train doors and other components. Amber wants to sell more products in other countries and has set up a sales team in the U.S. to find new customers. The Indian government is helping local manufacturers through the Production Linked Incentive (PLI) scheme, which benefits Amber. With these plans, the company is set to grow in different industries and expand its business. 

Analyst Insights: 

  • Market capitalisation: ₹ 23,648 Cr.. 
  • Current Price: ₹ 6,991 
  • 52-Week High/Low: ₹ 8,177 / 3,310 
  • Stock P/E: 106 
  • Dividend Yield: 0.00 % 
  • Return on Capital Employed (ROCE):10.2 % 
  • Return on Equity: 6.74 % 

Amber Enterprises holds a 29% market share in the room air conditioner (RAC) industry and has shown 28.2% median sales growth over the last decade, with a 30% CAGR in revenue over the last three years, reaching ₹9,025 Cr in TTM revenue. However, the stock is highly overvalued, trading at a P/E of 106.4x, significantly above the sector median (~44x), and at 11.2x its book value, despite low ROE (6.74%) and ROCE (10.2%). The company’s debt has also increased from ₹1,455 Cr in 2023 to ₹1,539 Cr in 2024, and it has no dividend payout. While institutional investors remain confident, and industry tailwinds support growth, the low profit margins (~2%) and high valuation warrant caution, making it a hold for existing investors while new investors should wait for a correction. 

Craftsman Automation Ltd
Craftsman Automation to Build ₹150 Crore Manufacturing Facility in Hosur- Stock Performance & Growth Potential

Business and Industry Overview: 

Craftsman Automation is a company that makes metal parts for cars, machines, and storage systems. It started in 1986 as a small company in Coimbatore, India, and has now grown into a big and successful business. The company makes car engine parts, gears, moulds, storage racks, special machines, and aluminum products. Quality is very important to Craftsman Automation. It makes sure every product is strong, safe, and long-lasting. A team of engineers and inventors works hard to design and build these products. They use big machines and modern technology to make things faster, better, and with fewer mistakes. Before any product is sent out, it is checked properly to make sure it meets high standards. Craftsman Automation supplies products to many industries, including the automobile, storage, and machine industries.  India is becoming a big hub for precision manufacturing, which means making small, accurate, and high-quality parts for different industries. This industry is growing fast because India has skilled workers, advanced machines, low costs, and strong government support. Many industries need these precise parts, including automobiles, aerospace, defence, electronics, healthcare, and consumer goods. The industry has two main parts – automotive (52%) and non-automotive (48%). The automotive sector is growing quickly because more people are buying cars. Big car companies need strong and reliable parts, which India supplies. Around 62% of auto parts are needed by car manufacturers (OEMs), and this demand is growing 14% per year until 2026. India also exports a lot of car parts, and this business is growing by 7-9% each year from 2024 to 2029.  

Craftsman Automation is a leading company that makes high-quality and accurate parts for cars, machines, storage systems, gears, and special-purpose machines. The company started in 1986 in Coimbatore as a small business. Today, it has grown into a big company with modern factories and advanced technology. It is a major supplier for big car companies (OEMs). The automotive industry is 52% of precision manufacturing, so the company benefits from the growing demand for vehicle parts. It also makes parts for aerospace, defence, electronics, and other industries, which helps it stay strong in the market. Craftsman Automation has advanced factories with CNC machines and automation. This helps in making strong, reliable, and high-quality products. The company also focuses on keeping costs low, so it can offer good prices while maintaining top quality. The government helps the industry grow with programs like Make in India and the Production Linked Incentive (PLI) scheme. The PLI scheme allows 100% foreign investment and is expected to bring ₹2.5-3 lakh crore in investments. This makes it easier for companies like Craftsman Automation to expand. Many global companies are now choosing India instead of China for manufacturing. This is called the China+1 strategy. It helps Craftsman Automation export more products and build strong international partnerships. The company also invests in new ideas and better products through research and development (R&D). This helps it stay ahead of competitors. With modern technology, skilled workers, and strong customer trust, Craftsman Automation is a trusted brand in India and abroad. With good quality, smart pricing, and growing global demand, Craftsman Automation is ready for a bright future in precision manufacturing. 

Latest Stock News: 

Craftsman Automation made less profit in the last quarter. Its profit went down by 12% to ₹70.5 crore. But its total sales increased by 12.7%, reaching ₹1,105 crore, up from ₹980 crore last year. Motilal Oswal still says it is a good stock to buy. They set a target price of ₹5,305 for the stock. But they also reduced their profit estimates for the next two years because of weaker demand for commercial vehicles and tractors. The company is a leader in making auto parts. It is also one of the top three in storage solutions and a strong competitor in aluminum die-casting. It has built its business step by step, without big takeovers. This is rare in the auto industry. The Indian government is helping companies like Craftsman Automation. Policies like Make in India and supply chain shifts away from China are helping it grow. The company designs and builds its machines, giving it a big advantage over competitors. Craftsman does not depend on just one industry. No single sector gives it more than 30% of its revenue. This helps balance its business and reduce risks. Even though profits fell recently, the company is growing well. Experts still see it as a strong company for the future. 

Potentials: 

Craftsman Automation wants to grow bigger and better. It is building a new factory in Hosur with an investment of ₹150 crore. This factory will make aluminium parts for cars and bikes. It will increase production by 15% and help the company meet the rising demand. The factory is in a great location, close to big automobile companies. This will make delivery faster and easier. Craftsman is paying for this project mostly with bank loans and some own money. The company’s current factories are already almost full, working at 75% capacity. So, this new plant will help produce more parts. With more cars and bikes being made in India, there is a high demand for quality parts. Craftsman also wants to increase exports and use better technology. It is investing in new machines to improve quality and make work faster. The company is ready for the future and wants to stay ahead in the market. 

Analyst Insights: 

  • Market capitalisation:₹ 11,433 Cr. 
  • Current Price: ₹ 4,780 
  • 52-Week High/Low:₹ 7,121 / 3,860 
  • Stock P/E: 58.3 
  • Dividend Yield: 0.23 % 
  • Return on Capital Employed (ROCE): 20.0 % 
  • Return on Equity: 20.0 % 

Craftsman Automation has grown well, with sales increasing by 20% per year over the last five years. Profits have also grown at 26% per year. The company earns good returns (ROE of 20%) and maintains steady profit margins (around 20% EBITDA margin). However, the stock is very expensive, trading at a P/E of 58.3, while similar companies trade at around 25. Promoters have reduced their stake by 11.1% in three years, which may be a concern. The company also has high debt (~₹1,958 Cr), and profit margins have fallen from 24% in FY22 to 16% now. The company’s long-term future looks good because India’s auto sector is growing. But the stock price is high, and some financial trends are weak. Current investors can hold or sell some shares. New investors should wait for a lower price. 

Pasupati Acrylon Ltd
Pasupati Acrylon Ltd: Stock Surges 17% After Setting Up 150 KL Grain-Based Ethanol Plant – Growth, Stock Trends & Future Prospects

Business and Industry Overview: 

Pasupati Acrylon Limited (PAL) is a leading Indian company that makes acrylic fibers and cast polypropylene (CPP) films. It started in 1982 and has its main office in New Delhi. Its manufacturing unit is in Thakurdwara, Uttar Pradesh. The company makes different types of acrylic fibres under the brand ACRYLON. These fibres are used in sweaters, shawls, blankets, carpets, and upholstery. Some fibres are gel-dyed, meaning they have colour inside the fibre. Some are low-pill fibres, which do not form small fabric balls. Some are shrinkable and are used to make fabrics look like wool. Others are soft-feel fibres, which make clothes more comfortable. The company also makes tow-dyed and super-bright fibres. In 2019, PAL started making CPP films. These films are used in food packaging, medicines, and other industries. The company has a factory with high-tech machines from Germany, Italy, and the UK. It makes many types of CPP films, such as lamination films, white opaque films, and other films. It also makes medical-grade films, anti-fog films for bread packaging, retort films for high-temperature food storage, and peelable films for easy-open packaging. PAL is financially strong. In March 2023, its revenue was₹217.14 crore, and its profit was₹5.38 crore. It has a market value of ₹400.12 crore. Its earnings per share (EPS) is ₹3.99, and its return on equity (ROE) is 10.82%. The company always tries to reduce costs and improve profits. In 2024, PAL started a 150 kiloliter per day (KLPD) ethanol plant. It makes ethanol from grains. Ethanol is a clean fuel that can reduce the use of petrol and diesel. This helps the Indian government’s ethanol blending program. PAL sells its products in India and other countries. It focuses on quality, new technology, and sustainability. It has strong relationships with customers. The company keeps expanding its business and making new products. It is one of the top companies in synthetic fiber and packaging in India. 

India’s acrylic fiber and CPP film industries are growing as demand increases in clothing, packaging, and industry. Acrylic fiber is a man-made material made from polyacrylonitrile. India makes 147.40 metric tons of acrylic fiber each year. But production is going down because making it is expensive and profits are low. In 2016-17, production dropped by 17% compared to the previous year. The demand is also not growing fast. China makes and uses the most acrylic fiber in the world. 

India’s CPP film industry is growing fast because packaging needs are increasing. CPP films are strong, flexible, and keep moisture out. This makes them useful for food packaging, medicine, and industrial wrapping. These films help keep food fresh and protect medicines. Many Indian companies are using new machines to make better-quality films. The government is also supporting local production and promoting eco-friendly packaging to reduce waste. Both industries have challenges like high costs, competition, and price changes. But companies are finding new ways to improve quality and reduce costs. As clothing and packaging needs grow, these industries will also expand and become stronger in the future. 

Latest Stock News: 

Pasupati Acrylon Ltd’s stock price jumped 13.49% to ₹48.47 because investors got good news. The company finished making a big ethanol plant that can produce 150 KL per day. This made people excited, and the stock went up nearly 17% to ₹49.89. But it is still 29% lower than its highest price of ₹70.79 in September 2024. The stock has gone up more than 50% from its lowest price of ₹33.20 in June 2024. The company made good profits in the third quarter of FY24 -25 and has less debt, which means it is in a strong financial position. In the last five years, the stock has grown 600%, but in the past year, it has not moved much. In March 2025, the stock rose 23.5% after falling 15% in February. In January 2025, it went up 3%. The company has not yet said when the ethanol plant will start working, but people are hopeful that it will happen soon. Investors are keeping a close watch on the stock. 

Potentials: 

Pasupati Acrylon Ltd has big plans to grow. The company has built a big ethanol plant that can make 150 KL per day. It is now getting ready to start making ethanol. This will help the company sell more and earn more money. The government supports biofuels, so this can help the company even more. 

At the same time, the company is working to make better-quality acrylic fiber. It will use new technology to improve its products. This will help the company sell more in India and other countries. 

The company also wants to stay strong financially. It will keep its debt low and try to make more profit. This will help it invest in new projects and grow more. It may also work on renewable energy and eco-friendly materials. 

In the future, the company may work with other businesses, open new factories, or find new ways to grow. Investors believe these plans will help the company become bigger and increase its stock price. People are excited to see how the company moves forward. 

Analyst Insights: 

  • Market capitalisation: ₹ 477 Cr. 
  • Current Price: ₹ 53.2 
  • 52-Week High/Low: ₹ 71.0 / 33.2 
  • Stock P/E:13.0 
  • Dividend Yield: 0.00 % 
  • Return on Capital Employed (ROCE): 6.09 % 
  • Return on Equity: 4.09 % 

Pasupati Acrylon Ltd. has not grown well in the past five years, with sales falling by 6.96% and profit dropping by 14% in this period. In the last three years, profit has dropped by 33%, showing weak performance. The company’s return on capital employed (ROCE) is 6.09%, and its return on equity (ROE) is 4.09%, which means it does not earn much from the money it uses. Even though its latest sales improved to ₹174 crore, past performance shows unstable growth. The stock price increased by 43% in one year, but long-term growth is uncertain. The company has low debt, and promoters hold 65.87% of shares, which shows stability. However, it does not give dividends, meaning investors do not get extra money. Also, it takes 95 days to sell inventory and 35 days to get paid, which is not very efficient. Because of this mixed performance, investors should wait and watch to see if the company keeps improving before buying or selling. 

Anup Engineering Ltd
Anup Engineering Faces Tax Demand Notice: Stock Update & Growth Potential

Business and Industry Overview: 

The Anup Engineering Limited (AEL) is a company in India that makes big machines. These machines help in oil, gas, chemicals, power, water, and space industries. AEL was part of Arvind Limited but became its own company in 2018. It has been making machines for more than 60 years. The factory is in Ahmedabad, India, and is very big. AEL sells machines in India and other countries. From 2022 to 2024, AEL made much more money. Its export sales increased a lot. The company wants to grow even more every year. 

In 2024, AEL started working with Graham Corporation, a company from the USA. AEL now makes special products for Graham. AEL also bought Mabel Engineers, a company in Tamil Nadu, for Rs. 33 crore. This helps AEL make more things like Silos and Tanks. Mabel’s factory is also big. 

The industry AEL works in is growing fast. In 2022, the Indian electrical equipment market was worth US$ 52.98 billion. It will grow to US$ 125 billion by 2027. The construction equipment market was US$ 7.2 billion in 2023. It will grow more each year. The Indian government is spending a lot of money on roads, bridges, and factories. In 2024, the government planned to spend Rs. 11.11 lakh crore (US$ 133.5 billion). They want to build many more roads by 2025. A special fund will also help small cities grow. 

The government is helping companies like AEL. Foreign companies can invest in India’s engineering sector. The government is spending Rs. 1,207 crore (US$ 145.1 million) to help engineering companies. India wants to be a top country in making electrical equipment. The goal is US$ 100 billion in production. The government is also bringing in private investments to build railways, roads, and power plants. 

By 2030, India wants to be a top country for making construction equipment. With all these plans, The Anup Engineering Limited is ready to grow and make more machines for many industries. 

Latest Stock News: 

Anup Engineering got a letter from the tax office on February 19, 2025. The tax office says the company must pay INR 33.2 million. They took tax money they should not have and did not pay tax on shipping. There is also a big fine and extra money for being late. The company does not agree and will ask another office to check. After this news, the company’s stock price went down by 4.25% to INR 2,913.90. The stock price has moved between INR 3,047.05 and INR 2,881.00. In the last year, the stock price dropped by 12.92%, but in the last five days, it went up by 7.07%. The company made INR 30.21 crore profit recently. More people are putting money into the company. Other similar companies also saw small changes in stock prices. People are waiting to see what happens next. 

Potentials: 

Anup Engineering is growing fast. Experts say its business will grow by 33% every year until 2026. The company is making more money than other companies in the same field. It is keeping good profits and selling more products. 

The company is working to make things faster and cheaper. Many industries like medicines, chemicals, and oil need the kind of equipment Anup Engineering makes. The company is also creating new products to stay ahead of others. The leaders of the company are making good decisions. 

A new factory is being built in Kheda, Gujarat. This factory will make very big machines. Phase 1 started in October 2024 and can earn INR 200 crore every year. Phase 2 is now being built with INR 50 crore and will be ready by late 2026. When done, the factory will have three sections and can earn INR 300-400 crore every year. The company also opened a new office in Vadodara, Gujarat. The business is growing, but stock prices may still go up and down. 

Analyst Insights: 

  • Market capitalisation: ₹ 5,838 Cr.  
  • Current Price: ₹ 2,915 
  • 52-Week High/Low: ₹ 3,859 / 1,250 
  • P/E Ratio: 44.7 
  • Dividend Yield: 0.50 % 
  • Return on Capital Employed (ROCE): 22.6 % 
  • Return on Equity (ROE): 20.7 % 

Anup Engineering is performing well. The company has reduced debt and is almost debt-free, making it financially stable. It has been making more money every year for the last five years, growing at 18.9% annually. It is also returning money to investors through steady dividends. Additionally, customers are paying faster, and the company is handling money more efficiently, reducing its working capital needs. However, there are some concerns. The stock price is currently high compared to what the company is worth, making it a risky buy right now. Also, the company is paying a lower tax rate, which may change in the future. 

Because of this, the recommendation is to HOLD the stock. If you already own it, keeping it is a good idea because the company is strong. But if you want to buy, it may be better to wait until the price drops to a better level. 

SAIL ltd
SAIL Q3 FY25 Results: 66% Profit Decline Despite 5% Revenue Growth – Stock Rises 3.5%

Business and Industry Overview: 

Steel Authority of India Limited (SAIL) is the largest Indian public sector (government-owned) manufacturing corporation with an annual production capacity of 18.29 million metric tons. While the Indian government holds a major stake of about 65% in SAIL, its Maharatna status allows the company to operate with autonomy in financial and operational matters, enabling faster decision-making and business expansion. The company has a total of 692 patents filed under its name globally, out of which 343 have been granted. More than 64% of the 692 patents are active. SAIL has filed the maximum number of patents in India, followed by Egypt and Germany.

SAIL operates five integrated steel plants, each with a rich legacy and global collaborations. Rourkela Steel Plant (RSP) in Odisha is India’s first public-sector steel plant that was set up with German collaboration. Bhilai Steel Plant (BSP) in Chhattisgarh (1959) and Bokaro Steel Plant (BSL) in Jharkhand (1964) were established with Soviet assistance, and it is India’s first Swadeshi steel plant. Durgapur Steel Plant (DSP) in West Bengal (1965) was set up with British collaboration, while IISCO Steel Plant (ISP) in West Bengal, modernized in 2015 with a ₹16,000 crore investment, houses India’s largest blast furnace. 

SAIL also runs special steel plants like Alloy Steel Plant (ASP) in West Bengal, which supplies the Indian Ordnance Factories; Salem Steel Plant (SSP) in Tamil Nadu for stainless and micro-alloyed steel; and Visvesvaraya Iron & Steel Limited (VISL) in Karnataka for high-quality alloy steels. The Chandrapur Ferro Alloy Plant (CFP) in Maharashtra supports steelmaking with ferro-manganese and silico-manganese. Additionally, SAIL Refractory Units (SRU) in Jharkhand and Chhattisgarh ensure a steady supply of refractory materials. With this vast network, SAIL remains a key pillar of India’s steel industry, catering to infrastructure, transportation, and defence. 

India is the second largest steel manufacturer of crude steel in the world, surpassing Japan in 2019; the industry is growing at a very exponential rate of 5% to 7.3%. And for an emerging economy like India, meeting its hard metal requirement is very important, and the steel sector has been a major contributor to India’s manufacturing output. The iron and steel industry in India is projected to grow from $188.5 billion in 2023 to $264 billion by 2032. This would be a compound annual growth rate (CAGR) of 4.30%. SAIL is India’s largest steel-making company, with integrated plants in the eastern and central regions  

Latest Stock News: 

Steel Authority of India Ltd. (SAIL) reported a 66% decline in net profit for Q3 FY5 despite a 5% increase in revenue. Following the earnings announcement, the stock rose by 3.5%, although it remains 41% below its 52-week high, indicating ongoing challenges in the steel market. 

For Q3 FY25, SAIL’s consolidated net profit stood at ₹141.89 crore, a significant drop from ₹422.92 crore in the same quarter the previous year. This decline was primarily due to higher costs and pricing pressures. Comparatively, profit after tax (PAT) saw an 84% plunge from ₹897 crore in Q2 FY25. 

Revenue from operations grew by 5% year-on-year, reaching ₹24,490 crore, up from ₹23,349 crore. However, on a quarter-on-quarter basis, revenue experienced a slight dip of 0.75% from ₹24,675 crore in Q2 FY25. 

At the operational level, SAIL’s earnings before interest, tax, depreciation, and amortization (EBITDA) declined by 5.3% year-on-year to₹2,029.6 crore, down from₹2,142.5 crore in Q3 FY24. The EBITDA margin contracted to 8.3% in Q3 FY25, compared to 9.2% in the same period last year, reflecting increased input costs and pricing challenges. 

Segmental information

  1. Steel Production:  

These segments position SAIL as an integrated steel producer serving diverse industries like infrastructure, railways, automotive, and defence. It has integrated and special steel plants. This includes: 

  • Flat Steel Products: Hot-rolled (HR) and cold-rolled (CR) coils, sheets, galvanized sheets, and plates used in automobiles, construction, and white goods. 
  • Long Steel Products: Rails, structural steel (joists, channels, angles), TMT bars, and wire rods used in infrastructure and construction. 
  • Specialty Steel Products: Stainless steel, alloy steel, and high-quality special steel catering to defence, railways, and engineering sectors. 

2. Mining & Raw Material Production 

SAIL ensures raw material self-sufficiency through its captive mines for iron ore, coal, limestone, and dolomite, reducing dependency on external suppliers and enhancing cost efficiency. 

3. Ferro Alloys & Refractory Products 

  • Ferro Alloys: Production of ferro-manganese and silico-manganese at Chandrapur Ferro Alloy Plant, essential for steelmaking. 
  • Refractory Products: Manufacturing of refractory bricks and materials through SAIL Refractory Units (SRU) to support high-temperature industrial processes. 

4. Value-Added & Downstream Products 

SAIL focuses on high-margin, value-added products, including: 

  • Galvanized and coated steel for automotive and construction applications. 
  • High-tensile and wear-resistant steel for defence and heavy engineering. 

5. Energy & Power Generation:  

To support its energy-intensive operations, SAIL has captive power plants within its steel plants, ensuring energy security and operational efficiency. These business segments position SAIL as an integrated steel producer, catering to diverse industries, including infrastructure, railways, automotive, defence, and manufacturing. 

Subsidiary Information:

Subsidiaries 

  1. SAIL Refractory Company Limited 
  1. Chhattisgarh Mega Steel Limited 

Associate Company: 

  1. Almora Magnesite Ltd 

Joint Ventures 

  1. NTPC-SAIL Power Company Private Limited 
  1. International Coal Ventures Private Limited 
  1. Bastar Railway Private Limited 
  1. SAIL RITES Bengal Wagon Industry Private Limited 
  1. GEDCOL SAIL Power Corporation Limited 
  1. Mjunction Services Limited 
  1. Bokaro Power Supply Company Private Limited 
  1. Bhilai Jaypee Cement Limited 
  1. SAIL Kobe Iron India Private Limited 
  1. SAIL Bansal Service Centre Limited 
  1. Prime Gold-SAIL JVC Limited 
  1. SAIL SCL Kerala Limited  
  1. VSL SAIL JVC 
  1. Romelt SAIL (India) Limited 

Q3 Highlights

  • SAIL’s net profit dropped 66% in Q3 FY25 despite 5% revenue growth. 
  • The stock rose 3.5% post-earnings but is 41% below its 52-week high. 
  • Q3 FY25 net profit is ₹141.89 crore, down from ₹422.92 crore in Q3 FY24. 
  • PAT fell 84% from ₹897 crore in Q2 FY25. 
  • Revenue is ₹23,349  crore, up 5% YoY but down 0.75% QoQ. 

Financial Summary

Amount in ₹ Cr Q3 FY24 Q3 FY25 FY23 FY24 
Revenue 23,349.00 24,490.00 104,448 105,378 
Expenses 21,206.00 22,460 96,410 94,229 
EBITDA 2,142 2,030.00 8,038.00 11,149.00 
OPM 9% 8% 8% 11% 
Other Income 355 393 1,856 665 
Net Profit 423.00 142.00 2,177 3,067 
NPM 1.81 0.58 2.08 2.91 
EPS 1.02 0.34 5.27 7.42 
Thermax Q3 FY25 Results
Thermax Q3 FY25 Results: Net Profit Falls 51% to ₹116 Cr, Revenue Up 7.9% YoY, Strong Financials

Thermax Ltd: Overview 

Thermax Ltd., headquartered in Pune, India, is a leading energy and environment solutions company. Established in 1966, it provides a wide range of products and services in heating, cooling, power generation, water and wastewater treatment, air pollution control, and waste heat recovery. Thermax has a strong presence in various industrial sectors, including chemicals, fertilizers, refineries, power, cement, and textiles. The company operates globally, with manufacturing facilities and sales offices in several countries. The industry outlook for Thermax is positive, driven by several factors. Growing environmental concerns and stringent regulations are increasing the demand for clean energy and pollution control solutions. The global focus on energy efficiency and sustainability is also creating opportunities for Thermax’s products and services. Additionally, the increasing industrialization and infrastructure development in emerging economies are driving the demand for power generation and water treatment solutions. Thermax’s diversified product portfolio, strong technological capabilities, and global presence position it well to capitalize on these industry trends. 

Latest Stock News 

Thermax has been actively involved in various energy and environmental projects. A significant achievement was the commissioning of a 36 MW energy plant for a major particle board manufacturer in southern India. In Africa, a 350 TR ultra-low pressure VAM was recently commissioned for a leading snack manufacturer, enabling them to recover waste heat from potato chip frying. The company also commissioned a 500 m3/hr water treatment plant (WTP) incorporating algae treatment and organic removal using submerged ultrafiltration. Positive results continue at the Dhuri plant, with June ’24 gas yield performance repeating with oxygenation in January ’25. Thermax Babcock & Wilcox Energy Solutions (TBWES) secured a landmark order for two 80 TPH multi-biomass fired reciprocating grate boilers for a major textile company in central India, representing the first instance of 100% paddy straw firing in such a boiler. Despite foreign exchange and currency headwinds, a leading Indian oil company saw a 10% increase in order bookings for oil coalescer resin compared to Q3 of the previous year, contributing to an overall 19% increase in order bookings for the company. Thermax also acquired Buildtech Products India Private Limited. However, the absence of large orders during the current quarter resulted in a lower order book. Finally, it’s important to note that last year’s profit after tax included a one-time gain of Rs. 126 crore from the sale of a vacant plot. 

Business Segments

  • Energy: This segment offers a comprehensive range of solutions for heating, cooling, and power generation. It includes boilers, heaters, chillers, heat pumps, and power generation systems. Thermax’s energy solutions cater to diverse industrial applications, helping customers optimize energy efficiency and reduce operating costs. 
  • Environment: This segment focuses on providing solutions for water and wastewater treatment, air pollution control, and waste heat recovery. It offers water treatment plants, effluent treatment systems, air pollution control equipment, and waste heat recovery systems. Thermax’s environment solutions help industries comply with environmental regulations and achieve sustainability goals. 
  • Chemicals: This segment produces and markets a variety of specialty chemicals, including water treatment chemicals, construction chemicals, and performance chemicals. Thermax’s chemical solutions cater to various industries, providing specialized chemical formulations for diverse applications. 

Subsidiary Information

  • Thermax Babcock & Wilcox Energy Solutions Private Ltd: This subsidiary is a joint venture with Babcock & Wilcox, focusing on providing advanced technology solutions for power generation. It specializes in designing, engineering, and constructing power plants and offers a range of services, including project management, engineering, procurement, and construction.  
  • Thermax Sustainable Energy Solutions Ltd: This subsidiary focuses on renewable energy solutions, including solar, wind, and biomass-based power generation. It aims to promote sustainable energy practices and help customers transition to cleaner energy sources.  
  • Thermax Environment Co. Ltd: Based in China, this subsidiary specializes in providing environmental solutions for the Chinese market. It offers water and wastewater treatment, air pollution control, and waste heat recovery solutions.  
  • Thermax Engineering (Shanghai) Co. Ltd: This subsidiary, based in China, provides engineering and project management services for Thermax’s projects in the Asia Pacific region. It supports the company’s operations in the region and ensures efficient project execution. 

Q3 FY25 Earnings 

  • Revenue of ₹2508 crore in Q3 FY25 up by 7.9% YoY from ₹2324 crore in Q3 FY24.  
  • EBITDA of ₹188 crore in this quarter at a margin of 8% compared to 8% in Q3 FY24. 
  • Profit of ₹114 crore in this quarter compared to a ₹237 crore profit in Q3 FY24. 

Financial Summary 

Amount in ₹ Cr Q3 FY24 Q3 FY25 FY23 FY24 
Revenue 2324 2508 8090 9323 
Expenses 2137 2319 7489 8526 
EBITDA 187 188 601 797 
OPM 8% 8% 7% 9% 
Other Income 185 32 156 307 
Net Profit 237 144 451 643 
NPM 10.2% 5.7% 5.6% 6.9% 
EPS 20 9.7 37.8 54.2 
Asian Paints Q3 FY25 Results
Asian Paints Q3 FY25 Results: ₹1,128 Crore Net Profit, Margin & Volume Growth

Asian Paints Ltd: Overview 

Asian Paints Ltd. is India’s largest paint manufacturer and one of the leading paint companies globally. Founded in 1942, it operates in more than 15 countries and has over 26 paint manufacturing facilities worldwide. It is No.1 or No.2 in its each segment, showing a great brand. Its product portfolio extends beyond decorative paints to include industrial paints, coatings, home decor, and waterproofing solutions, serving residential, commercial, and industrial markets. It has more than 140,000 customers and 3000+ dealers and 160,000+ retail touchpoints. The company has filed approx. 21 patents, Asian Paints has established itself as the most recognizable brand in India’s paint market. Through initiatives like the ‘Beautiful Homes Service’ and online colour consultation tools, Asian Paints enhances customer experience, leveraging digital solutions to strengthen customer engagement. The Indian paints industry is projected to grow at a CAGR of 11-13% over the next five years, aiming to reach a valuation of ₹1.2 lakh crores by 2028. Demand for water-based paints, low-VOC (Volatile Organic Compounds) products, and anti-bacterial coatings is on the rise, driven by eco-conscious and health-focused consumers. Major players, such as Asian Paints and Berger Paints, are continuously investing in R&D for product innovation and are expanding manufacturing capacities to meet rising demand. Infrastructure growth and government focus on boosting the manufacturing sector are expected to increase demand for industrial coatings, especially in construction, automotive, and machinery sectors. Crude oil derivatives are key inputs for paint manufacturing, and price fluctuations can impact profit margins. 

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In Q3FY25, the company faced challenges due to continued muted consumer demand, which was further impacted by weak festive sales, a slowdown in urban markets, and seasonal fluctuations. Despite this, the company continued expanding its distribution network, reaching approximately 169,000 retail touchpoints. Beautiful Homes Painting Services and Trusted Contractor Services gained strong traction and continued to grow. The Projects and Institutional Business witnessed a notable demand surge, particularly from the Factories and Builders segment, with the government sector showing positive momentum after three quarters of sluggish activity. Innovation remained a key focus, with new product launches contributing over 12% of overall revenue in Q3. Backward integration projects, including VAM-VAE and White Cement, progressed as planned. The company also launched a new campaign for Ultima Protek, promoting its ultra-durable exterior paint. However, certain segments faced profitability challenges, with the Kitchen segment reporting a PBT loss of ₹5 crore in Q3 compared to breakeven last year, and the Bath segment incurring a PBT loss of ₹7 crore, similar to the previous year. Weak urban consumption affected overall growth, which stood at 5% in INR terms but reflected a strong 17.1% growth in constant currency terms. Regionally, Africa faced setbacks due to currency devaluation in Egypt and Ethiopia, while the Middle East registered robust double-digit growth, with the UAE emerging as a key growth market. 

Business Segments

  • Decorative Business: The Company offers interiors and exterior wall paints, waterproof solutions, textured coatings, etc. with major products like Royale, TruCare, Apcolite, etc. It includes service of Beautiful Homes Service which shares about 4% in total revenue of company and includes services for kitchens, wardrobes, bath fittings, Sanitaryware, decorative lightings, rugs, furniture, etc. provides customers every possible services.  
  • International Business: Asian Paints has a global footprint with manufacturing operations and markets across 15+ countries in the Middle East, South Asia, Southeast Asia, and the Caribbean. While international operations currently represent a smaller portion of total revenue, they contribute to the company’s goal of becoming a leading player in emerging markets.  
  • Industrial Business: The Company operates in the industrial coatings segment through a 50:50 joint ventures with PPG Industries Inc. It offers custom-formulated products for the automotive and industrial sectors, including automotive, marine, and packaging coatings, as well as industrial protective coatings. 

Subsidiary Information

  • Asian paints international Pvt Ltd.: Asian Paints International Private Limited (“APIPL”), Singapore, is a wholly-owned subsidiary of the Company and is the holding company for all of its subsidiary companies carrying out operations overseas. The principal activities of APIPL are those of investment holding and management. 
  • Asian Paints (Nepal) Pvt Ltd: Asian Paints (Nepal) Private, is a subsidiary company of the Company. Its principal business is the manufacturing and selling of paint products in Nepal. The revenue of AP Nepal was ₹335.04 crores with de-growth of 38.5% YoY.  
  • Obgenix Software Pvt Ltd: It is popularly known by the brand name “White Teak” is a subsidiary company of the Company. White Teak is engaged in the business of decorative lighting products, fans and other décor accessories. The revenue of White Teak was ₹133.43 crores with growth of 23.0% YoY.  
  • Weather seal Fenestration Pvt Ltd: It is a subsidiary company of the Company. Weatherseal is engaged in the business of uPVC windows and doors. The revenue of Weatherseal was ₹51.68 crores growth of 110.0% year on year. 

Q3 FY25 Earnings 

  • Revenue of ₹8549 crore in Q3 FY25 down by 6.08% YoY from ₹9103 crore in Q3 FY24.  
  • EBITDA of ₹1637 crore in this quarter at a margin of 19% compared to 23% in Q3 FY24. 
  • Profit of ₹1128 crore in this quarter compared to a ₹1475 crore profit in Q3 FY24. 

Financial Summary 

Amount in ₹ Cr Q3 FY24 Q3 FY25 FY23 FY24 
Revenue 9103 8549 34489 35495 
Expenses 7047 6913 28229 27910 
EBITDA 2056 1637 6260 7585 
OPM 23% 19% 18% 21% 
Other Income 186 193 431 821 
Net Profit 1475 1128 4195 5558 
NPM 16.2% 13.2% 12.2% 15.7% 
EPS 15.1 11.6 42.8 56.9