Tag Q3 Results

Indrayani Biotech Ltd
Indrayani Biotech Q3 Results: Revenue Drops 55.79% YoY, Strong Stock Performance

Business and Industry Overview: 

Indrayani Biotech Limited (IBL) is a company with many businesses. It is managed by people who have over 20 years of experience. The company brings smaller businesses together to grow as one big organization. IBL works in different industries like food, hospitality, dairy, healthcare, pharma, engineering, biotech, agriculture, and infrastructure. These businesses were first run separately and later joined IBL after 2018. Some businesses were merged, and most became subsidiaries. Each business runs on its own, but IBL looks at the overall performance. IBL started on March 9, 1992, and became a public company on March 13, 1992. It first worked on growing roses, strawberries, tissue culture plants, and hybrid vegetable seeds. The company was listed on the BSE Stock Exchange on February 14, 1994. In 2019, IBL merged with A-Diet Hospitality Service Limited and Helios Solutions Limited. This was approved in 2020, and IBL started a healthcare business by forming IBL Healthcare Private Limited. In 2021, IBL restarted its biotech business and began making bio-fertilizers and pest controllers. It also bought Dindigul Farm Products Private Limited and Matrix Boilers Private Limited. Two more companies, IBL Investments Limited and IBL Social Foundation, were created. Between 2022 and 2023, IBL grew its healthcare sector by buying KNISS Laboratories Private Limited and taking a stake in Peekay Mediequip Limited. It also took control of Vaasan Medical Center. In 2024, Dindigul Farm Product Limited applied for an SME-IPO listing on BSE. IBL’s subsidiary HSL Agri Solution Limited also bought Dilasa Agro Processors Private Limited. IBL keeps growing by adding businesses with good potential and plans to expand further in different industries.  

Indrayani Biotech Limited (IBL) works in many fields like food, healthcare, farming, and engineering. It brings small businesses together to grow as one big company. This helps it get stronger in the market. The company has a team with many years of experience. It has also joined with other businesses to expand. IBL focuses on new technology and better ways to work. Since it is a public company, it gets money from investors to grow. Its many businesses and strong leadership help it stay competitive. 

Latest Stock News: 

Indrayani Biotech’s profit has dropped significantly in the December 2024 quarter. The company’s net profit fell by 75.51% to ₹0.24 crore, compared to ₹0.98 crore in the same quarter last year. Sales also declined sharply by 55.69%, from ₹39.09 crore in December 2023 to ₹17.32 crore in December 2024.  For the first nine months of the financial year, total sales decreased from ₹1,218.45 crore last year to ₹796.59 crore this year. Revenue also declined from ₹1,220.27 crore to ₹800.09 crore in the same period. Net income dropped from ₹62.42 crore to ₹24.19 crore. Earnings per share also fell from ₹0.86 last year to ₹0.1 this year, showing weaker profitability.   

The stock price has also been falling. Indrayani Biotech, which operates in the floriculture sector, has reached a new 52-week low. It has dropped 14.43% in the past five days and has fallen nearly 70% over the last year. The company’s stock is underperforming compared to the Sensex, showing investor concerns about its financial performance. 

Segmental information: 

Indrayani Biotech runs different types of businesses. It works in Food and Hospitality, Dairy, Healthcare & Pharma, Engineering, Biotech, Agriculture, and Infrastructure. These businesses were started by different people with years of experience. Later, they became part of Indrayani Biotech. 

  • Food and Hospitality: This business provides catering services and food-related solutions. 
  • Dairy: It collects, processes, and sells milk and dairy products. 
  • Healthcare & Pharma: It works in medicine, healthcare services, and biotech solutions. 
  • Engineering: This part of the company makes industrial and mechanical products. 
  • Biotech: It produces eco-friendly fertilizers and pest control products using microorganisms. 
  • Agriculture: It helps farmers by providing better farming products and services. 
  • Infrastructure: This business works on building projects and construction. 

Each of these businesses has its own team of experts. They make their own decisions but follow the company’s main rules. Indrayani Biotech looks at the overall results of all these businesses together. 

Subsidiary information:

Indrayani Biotech owns many smaller companies. These companies work in different industries but are part of Indrayani Biotech. Each company has its own team and handles its own business, but they all help Indrayani Biotech grow. 

List of Companies Under Indrayani Biotech: 

  1. IBL Healthcare Limited – Works in medicines and healthcare. It has also bought shares in other medical companies to expand. 
  1. IBL Investments Limited – Manages money and investments for Indrayani Biotech. 
  1. IBL Social Foundation – A charity organization that helps with education, healthcare, and community programs. 
  1. Dindigul Farm Products Limited – Works in food and farming. It became a public company in 2024 and plans to sell shares to the public soon.  
  1. HSL Agri Solutions Limited – Focuses on farming. It recently bought another company, Dilasa Agro Processors Private Limited, which processes food.  
  1. Matrix Boilers Private Limited – Makes boilers and other equipment for factories. 
  1. Healthway India Private Limited – Provides healthcare services and medical supplies. It is part of IBL Healthcare.
  1. KNISS Laboratories Private Limited – Makes medicines and other healthcare products. It is also part of IBL Healthcare.
  1. Peekay Mediequip Limited – Makes medical equipment. Indrayani Biotech owns a big part of this company.
  1. Vaasan Medical Center (India) Private Limited – A healthcare company that Indrayani Biotech took over to expand its business. 

Each of these companies focuses on a different business area. They work separately but help Indrayani Biotech grow in different industries. 

Q3 highlights: 

  • Q3 sales were ₹173.18 million, 56% lower than the same quarter last year (₹390.93 million). 
  • Q3 revenue was ₹173.22 million, 56% lower than last year (₹391.75 million). 
  • Q3 net income was ₹3.51 million, 68% lower than last year (₹10.82 million). 
  • Basic EPS for Q3 was ₹0.05, a drop from ₹0.22 last year. 
  • Diluted EPS for Q3 was ₹0.05, compared to ₹0.22 last year. 

Financial Summary:  

Amount in ₹ Cr Q3 FY24 Q3 FY25 FY23 FY24 
Revenue 30.81 17.32 163 165 
Expenses 26 14 145 142 
EBITDA 5 3 17.00 24.00 
OPM 18% 17% 11% 14% 
Other Income 0.09 0 4 1 
Net Profit 5.54 0.35 12 10 
NPM 17.98 2.02 7.36 6.06 
EPS 1.62 0.05 2.55 1.4 
Alkem Laboratories
Alkem Laboratories Q3 Results: Net Profit Rises 6% to ₹641 Cr, Revenue Growth Flat, Stock Drops 4%

Alkem Laboratories Limited: Overview 

Alkem Laboratories Limited is one of the major pharmaceutical companies in India located in Mumbai, India, which is well known for producing good quality generic and specialty drugs. The company engages in development, manufacturing, and marketing of pharmaceutical generics, formulations, and nutraceuticals in domestic as well as international markets. Alkem has 21 manufacturing facilities, out of which 19 are in India and 2 are in the United States, and it provides a wide range of products across various therapeutic segments, such as anti-infective, pain management, and vitamins. It markets its products to several international markets including the US, UK, Australia, Germany, South East Asia and Africa. India is a leading country in the pharmaceutical sector, known for producing cheap vaccines and drugs. Indian pharmaceutical industry is the third largest in the world and has been growing at a Compound Annual Growth Rate (CAGR) of 9.43% over the last nine years. The country also has the greatest number of US FDA-compliant pharmaceutical manufacturing facilities and there are about 500 Active Pharmaceutical Ingredient (API) manufacturers who contribute 8% of the global API market share. As of March 31, 2022, Alkem Laboratories Limited has 3.9% market share in the domestic formulation market thus making it the fifth-largest pharmaceutical company in India. 

Latest Stock News

Alkem Acquires Adroit Biomed Ltd.:  

Alkem Laboratories has acquired a 100% stake in Adroit Biomed Ltd., a pharmaceutical company specializing in skincare, for approximately ₹140 crore. This acquisition will help Alkem strengthen its presence in the dermatology and cosmetology segments. Alkem Chairman BN Singh stated, “The acquisition of Adroit will allow us to diversify our offerings, enhance market penetration, and solidify our position in dermatology and cosmetology.” 

Alkem Expands into Medical Technology: 

Alkem MedTech Private Limited, a wholly owned subsidiary of Alkem, is acquiring 100% equity in Bombay Ortho Industries Pvt. Ltd., a manufacturer of orthopaedic implants, for ₹147 crore. This move aligns with Alkem’s strategy to expand into the fast-growing MedTech sector in India. The transaction is expected to be completed by June 30, 2025, subject to regulatory approvals. Managing Director Sandeep Singh remarked, “The MedTech sector in India is growing rapidly, and the demand for implants is substantial. Through this acquisition, we aim to tap into the increasing need for high-quality medical devices.” 

Interim Dividend Announcement

Alkem Laboratories has declared an interim dividend of ₹37 per equity share (face value ₹2) for the financial year 2024-25. The dividend will be distributed on or after February 28, 2025. 

Segmental information

1. Anti-infectives 

Alkem is a market leader in India’s anti-infective therapy segment. This category accounts for 11.8% of the total Indian Pharmaceutical Market (IPM), and Alkem holds the No. 1 position with a broad range of medicines that combat various infections. 

2. Gastroenterology 

A key player in gastrointestinal therapies, Alkem operates in a segment that contributes 10% of the total IPM value, making it the third-largest therapy area in India. With lifestyle changes and increasing health concerns, this sector is expected to grow significantly over the next decade. Alkem currently holds a 7% market share in this category. 

3. Pain Management 

Alkem is a leading brand in pain management with popular products such as: 

  • Aldigesic P (Aceclofenac + Paracetamol) – Used for arthritis, sprains, and musculoskeletal pain 
  • Alkem Para 500mg – A paracetamol-based tablet for mild to moderate pain relief 
  • Alkem Piroxicam – Used for joint and muscle inflammation, including osteoarthritis and rheumatoid arthritis 

4. Vitamins & Minerals 

Alkem manufactures a variety of vitamin and mineral supplements, including calcium, vitamin D, vitamin B12, zinc, magnesium, and boron. Notable products include Hemfer XT (iron supplement) and GEMCAL D3 (calcium + vitamin D3). 

5. Neurology & CNS (Central Nervous System) 

Alkem is among the top 10 pharmaceutical companies in India for neurology and CNS therapies. Its products support treatments for Alzheimer’s, dementia, stroke, migraines, epilepsy, depression, and neuropathic pain. Over the past four years, Alkem has outperformed competitors in this segment, securing the 5th position in the Indian market (AIOCD MAT June 2019). 

6. Cardiology 

Alkem is an emerging player in the cardiology segment, operating through two divisions: Alkem Aspiria and Alkem Imperia. These focus on hypertension, dyslipidemia, and cardiovascular disease management. The company aims to become a key player in the cardiovascular sector by offering innovative treatment solutions. 

Subsidiaries and Global Presence

Domestic Subsidiaries (India) 

Wholly Owned Subsidiaries

  • Alkem Foundation – CSR and healthcare initiatives 
  • Alkem Medtech Private Limited – Medical devices & healthcare technology 
  • Alixer Nexgen Therapeutics Limited – Advanced pharmaceutical research 
  • Alkem Wellness Limited – Wellness & nutraceuticals 
  • Connect 2 Clinic Private Limited – Digital healthcare solutions 

Other Subsidiaries

  • Cachet Pharmaceuticals Pvt Ltd – Pharmaceutical formulations 
  • Indchemie Health Specialities Pvt Ltd – Specialty medicines 
  • Enzene Biosciences Limited – Biotechnology & biosimilars 

International Subsidiaries 

  • Europe: 
  • S & B Holdings S.a.r.l., Luxembourg – Global investment arm 
  • Ascend GmbH, Germany – European market operations 
  • Ascend Laboratories (UK) Ltd. – UK market expansion 
  • North & South America: 
  • Ascend Laboratories LLC, USA – US generic pharmaceutical market 
  • Ascend Laboratories Ltd., Canada – Canadian market operations 
  • Ascend Laboratories S.A.S, Colombia & Chile – Latin American expansion 
  • Asia-Pacific & Africa: 
  • Alkem Laboratories Korea Inc. – Expansion in South Korea 
  • Pharmacor Pty Limited, Australia – Australian market operations 
  • Pharmacor Ltd., Kenya – African pharmaceutical expansion 

Q3 Highlights

  • Net profit grew by 6% year-over-year, reaching ₹641 crore in Q3FY24, although it declined 9% from the previous quarter. 
  • Total income rose by 1.4% year-over-year to ₹3,467 crore, though it saw a 2.3% decline compared to the previous quarter. 
  • For the first nine months of FY25, net profit increased by over 25% YoY, reaching ₹1,893 crore. 
  • Following the earnings announcement, Alkem’s stock declined by 4%. 
  • The company has declared an interim dividend of ₹37 per equity share, payable on or after February 28, 2025. 

Financial Summary

Amount in ₹ Cr Q3 FY24 Q3 FY25 FY23 FY24 
Revenue 3,324.00 3,374.00 11,599 12,668 
Expenses 2,616 2,615 9,977 10,419 
EBITDA 750 852 4037 2946 
OPM 21% 23% 14% 18% 
Other Income 42 93 101 186 
Net Profit 604 641 1,007 1,811 
NPM 18.17 19.00  14.30 
EPS 49.76 52.34 140.61 187.31 
Bharti Airtel
Bharti Airtel Q3 FY25 Results: Strong Net Profit Jumps 121% to ₹5,514 Cr, Revenue at ₹45,129 Cr, ARPU ₹245

Bharti Airtel Ltd: Overview 

Bharti Airtel Ltd. is one of India’s leading telecommunications service providers, with a robust presence in over 18 countries across South Asia and Africa. Established in 1995, the company has evolved into a diversified telecom player offering services that include mobile voice and data, broadband, fixed-line services, enterprise solutions, digital television, and financial services. Airtel has been at the forefront of India’s digital transformation, playing a pivotal role in expanding high-speed internet connectivity across urban and rural markets. The company operates one of the largest 4G and 5G networks in India, ensuring seamless connectivity for millions of users. Airtel’s business model is driven by a strong customer-first approach, supported by continuous investments in network expansion, digital innovations, and content partnerships. With a subscriber base of over 500 million, Airtel remains a formidable competitor in India’s telecom landscape. The Indian telecommunications industry is undergoing a rapid transformation, driven by technological advancements, increasing smartphone penetration, and the growing demand for high-speed data services. India has emerged as one of the world’s largest and fastest-growing telecom markets, with over 1.2 billion mobile subscribers and significant investments in next-generation technologies. The introduction of 5G services is set to redefine the telecom landscape, with Airtel leading the way in deployment. The government’s push for Digital India, coupled with initiatives like BharatNet, aims to improve broadband connectivity in rural areas, creating new opportunities for telecom operators. 

Latest Stock News 

As of December 31, 2024, the overall customer base stood at approximately 577 million across 15 countries, reflecting a year-on-year (YoY) growth of 4.7% compared to 551 million in the corresponding quarter last year. The company’s consolidated mobile data traffic surged by 24.2%, reaching 20,689 petabytes (PBs) during the quarter, compared to 16,656 PBs in the previous year. Total minutes of usage on the network grew by 6.8% to 1,385 billion, up from 1,297 billion in the same quarter last year. The smartphone customer base expanded to 270.2 million, recording an increase of 6.5 million quarter-on-quarter (QoQ) and 25.2 million YoY. The company’s capital expenditure for the quarter amounted to ₹91,608 million. In the Digital TV Services segment, the average revenue per user (ARPU) for the quarter stood at ₹160, slightly higher than ₹158 in the previous quarter, with net customer additions of 29,000. The Homes segment continued its expansion, with operations spanning 1,427 cities (including Local Cable Operators), witnessing a robust revenue growth of 18.7% YoY. Net customer additions in this segment totalled approximately 674,000 during the quarter, bringing the overall customer base to 9.2 million. 

Business Segments 

  • Mobile Services (India & South Asia): Airtel is the second-largest telecom operator in India, offering 2G, 4G, and 5G services to millions of customers. The company has a strong focus on ARPU (Average Revenue Per User) growth, driven by premiumization strategies such as higher 4G and 5G adoption, post-paid plan expansion, and bundled content services. Airtel’s “Airtel Black” strategy, which provides bundled mobile, broadband, and DTH services, has seen strong traction. 
  • Airtel Business (Enterprise Solutions): Airtel Business is one of India’s largest B2B telecom service providers, catering to corporates, government institutions, and small businesses. The segment offers cloud computing, cybersecurity, data center solutions, IoT connectivity, and managed services. Airtel has partnered with global technology firms like Google Cloud, AWS (Amazon Web Services), and Cisco to strengthen its enterprise offerings. 
  • Home Broadband & DTH Services: Airtel’s broadband segment has grown significantly under Airtel Xstream Fiber, offering high-speed fiber-optic internet across 1,200+ cities in India. The company has aggressively expanded its fiber network, targeting 40 million homes by 2025. With a focus on Wi-Fi 6 routers, mesh networking, and OTT content bundles, Airtel is enhancing user experience and driving customer retention. The DTH (Direct-to-Home) segment, offered through Airtel Digital TV, provides digital television services to millions of Indian households. 
  • Payments & Financial Services: Airtel operates Airtel Payments Bank, India’s first payments bank, which provides financial inclusion solutions such as digital wallets, UPI transactions, and micro-loans. The bank has witnessed strong growth, driven by an increasing number of digital transactions and rural banking initiatives. Airtel has also partnered with financial institutions to offer insurance, credit, and investment products through its digital platform. 

Subsidiary Information 

  • Airtel Africa: Airtel Africa is a major player in the African telecom market, operating in 14 countries, including Nigeria, Kenya, Uganda, and Tanzania. The subsidiary offers mobile voice, data, and financial services, catering to over 140 million customers. The company has been expanding mobile money services under Airtel Money, driving financial inclusion in underserved regions. 
  • Nxtra by Airtel: Nxtra by Airtel is the company’s data center subsidiary, providing cloud computing and colocation services. As India’s demand for data storage, AI-driven analytics, and cybersecurity solutions increases, Nxtra is expanding its green data centers across multiple locations. Airtel has committed significant investments in energy-efficient and AI-powered infrastructure, ensuring compliance with global data security standards. 
  • Airtel Payments Bank: Airtel Payments Bank operates as a financial inclusion initiative, offering digital wallets, micro-insurance, and payment solutions. The bank has a vast rural and urban customer base, benefiting from Airtel’s extensive network coverage. The increasing shift towards cashless transactions and government-backed financial inclusion programs makes Airtel Payments Bank a high-potential subsidiary. 

Q3 FY25 Earnings 

  • Revenue of ₹45129 crore in Q3 FY25 up by 19.08% YoY from ₹37900 crore in Q3 FY24.  
  • EBITDA of ₹24597 crore in this quarter at a margin of 54% compared to 52% in Q3 FY24. 
  • Profit of ₹16135 crore in this quarter compared to a ₹2876 crore profit in Q3 FY24. 

Financial Summary 

Amount in ₹ Cr Q3 FY24 Q3 FY25 FY23 FY24 
Revenue 37900 45129 139145 149982 
Expenses 18085 20533 67871 71691 
EBITDA 19815 24597 71274 78292 
OPM 52% 54% 51% 52% 
Other Income 1013 9675 1019 -3428 
Net Profit 2876 16135 12287 8558 
NPM 7.5% 35.7% 8.8% 5.7% 
EPS 4.3 25.9 14.9 13.2 
LIC Ltd Q3 FY25 Results
LIC Ltd Q3 FY25 Results: Strong Net Profit Surges 17% YoY to ₹11,057 Cr

LIC Ltd: Overview 

Life Insurance Corporation of India (LIC) is the largest life insurer in India, commanding a dominant position in the market. Established in 1956 by the Government of India through the nationalization of over 245 private insurers, LIC has played a pivotal role in shaping the Indian life insurance landscape. With an extensive distribution network of more than 1.4 million agents, numerous bancassurance partnerships, and a growing digital presence, LIC caters to millions of policyholders across urban and rural India. As of FY 2024, LIC manages assets worth over ₹45 lakh crore, making it one of the largest institutional investors in the country. Its business model revolves around a diversified product portfolio that includes individual life insurance, pension plans, annuities, ULIPs, health insurance, and group insurance schemes. The company also offers microinsurance products to serve the financially weaker sections of society. LIC’s AUM-to-GDP ratio is among the highest in the world, underscoring its importance in India’s financial system. The Indian life insurance sector is expected to experience robust growth, driven by rising disposable incomes, increasing financial awareness, and favourable regulatory initiatives. Currently, India’s life insurance penetration stands at approximately 3.2% of GDP, significantly lower than the global average, highlighting substantial growth potential. The post-pandemic era has reinforced the importance of life insurance as a financial protection tool, leading to higher demand for pure protection plans (term insurance), health-linked insurance, and retirement products. Additionally, the government’s initiatives, such as Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and tax incentives for insurance products, have boosted policy uptake across different income groups. 

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LIC has demonstrated strong financial performance, with the yield on investment (policyholders’ fund) recorded at 8.82% for the first nine months (9M) of FY25, compared to 9.14% in 9M FY24. A significant highlight of LIC’s financial trajectory is the surge in Indian Embedded Value (IEV), which increased by ₹159,111 crore from September 2023 to September 2024, reflecting a remarkable growth trajectory and strengthening LIC’s valuation in the industry. The company continues to dominate the life insurance sector, backed by its extensive agency network, which contributes 47.40% of the industry’s total agency force. LIC’s loyal and well-trained agency network is a blend of young and experienced professionals, ensuring widespread customer outreach. In 9M FY25, a total of 3,68,150 agents were trained, with a significant 77.40% of them falling within the 18-40 years age group, underscoring LIC’s focus on youth recruitment to drive future growth. Additionally, the launch of LIC’s Bima Sakhi Yojana by the Hon’ble Prime Minister on December 9, 2024, marked a major initiative to empower women in the insurance sector. Out of the total 7.45 lakh women agents in India, LIC holds a 42.67% share, reflecting its leadership in gender-inclusive employment. LIC has also maintained its exemplary claims management system, settling total death claims worth ₹17,588 crore in 9M FY25, up from ₹16,288 crore in 9M FY24. The death claim settlement ratio has improved to 98.66% in 9M FY25, compared to 98.46% in 9M FY24, reinforcing LIC’s commitment to efficient and reliable claim settlements. 

Business Segments

  • Individual Life Insurance: LIC offers a broad range of individual life insurance products, including term insurance, endowment plans, whole-life policies, ULIPs, and money-back policies. These plans provide a combination of risk coverage and savings, catering to different financial needs. Popular policies like Jeevan Anand, Jeevan Umang, and Tech Term continue to be preferred choices among policyholders. 
  • Group Insurance and Pension Plans: LIC dominates the group insurance segment, providing group term insurance, gratuity schemes, and superannuation plans to corporate and government organizations. Its pension and annuity products, such as Jeevan Akshay and Jeevan Shanti, help retirees secure a stable post-retirement income. The growing aging population and lack of adequate pension coverage in India make this segment a key growth driver for LIC. 
  • Health Insurance: LIC’s health insurance segment includes policies like LIC Jeevan Arogya, which offers hospitalization benefits, critical illness cover, and family protection. With rising medical inflation and healthcare costs, LIC is expected to expand its health insurance offerings further. 
  • Microinsurance and Rural Policies: To ensure financial inclusion, LIC has introduced low-premium, high-coverage insurance plans targeted at low-income groups and rural populations. Policies like LIC Bhagya Lakshmi and LIC New Jeevan Mangal provide affordable life coverage, supporting the government’s vision of universal financial protection. 

Subsidiary Information

  • LIC Housing Finance Ltd. (LIC HFL): LIC HFL is one of India’s leading housing finance companies, providing home loans, project financing, and loans against property. With a strong nationwide presence, the subsidiary plays a vital role in India’s real estate financing sector. LIC’s association with the brand enhances customer trust, making LIC HFL a preferred choice for homebuyers. 
  • LIC Mutual Fund Asset Management Ltd: LIC’s mutual fund arm offers diverse investment solutions, including equity, debt, hybrid, and tax-saving funds (ELSS). The subsidiary capitalizes on LIC’s brand recognition to attract retail and institutional investors looking for long-term wealth creation opportunities. 
  • LIC Pension Fund Ltd: LIC Pension Fund manages National Pension System (NPS) investments, serving government employees and private sector participants. With India’s increasing focus on retirement planning, this subsidiary is expected to play a crucial role in the country’s pension market. 
  • LIC Cards Services Ltd: A relatively newer subsidiary, LIC Cards Services Ltd. has entered the credit card market in partnership with IDBI Bank, offering insurance-linked benefits and targeting LIC’s existing policyholders to expand its customer base. 
  • LIC International: LIC has expanded internationally through joint ventures in Bangladesh, Nepal, Sri Lanka, and the UAE, offering customized life insurance solutions to the South Asian market. These subsidiaries contribute to LIC’s global growth strategy and revenue diversification. 

Q3 FY25 Earnings 

  • Revenue of ₹203751 crore in Q3 FY25 down by 4.8% YoY from ₹214054 crore in Q3 FY24.  
  • EBITDA of ₹11395 crore in this quarter at a margin of 6% compared to 4% in Q3 FY24. 
  • Profit of ₹11009 crore in this quarter compared to a ₹9434 crore profit in Q3 FY24. 

Financial Summary 

Amount in ₹ Cr Q3 FY24 Q3 FY25 FY23 FY24 
Revenue 214054 203751 784628 845966 
Expenses 204815 192356 750420 813188 
EBITDA 9239 11395 34207 32779 
OPM 4% 6% 4% 4% 
Other Income 206 818 7800 14829 
Net Profit 9434 11009 35997 40916 
NPM 4.4% 5.4% 4.6% 4.8% 
EPS 14.9 17.4 56.9 64.5 
Cummins India Q3 FY25 Results
Cummins India Q3 FY25 Results: Strong Revenue Grows 21.78%, Net Profit Up 12.99%

Business and Industry Overview 

Cummins India is well known for its natural gas engines and the generator is a part of Cummins Inc., a US-based company with a global revenue of $23.6 billion. It is also a 51-per cent subsidiary of Cummins Inc. It has 21 dealerships and more than 120 dealership branch offices across India. It is a leading player in the power solutions industry, providing engines, power generators, and related technology. Its main products include diesel and alternative-fueled power generator sets with capacities up to3,0000 kW(3,7500 kVA). Cummins is widely known for its truck engines worldwide but in India, it’s famous for generators, which has accounted solely for its total revenue in the third quarter.  

It has seven legal entities including three joint ventures  

Cummins India Limited, Cummins Generator Technologies India Pvt. Ltd., Cummins Technologies India Pvt. Ltd., Fleetguard Filters Pvt. Ltd., Tata Cummins Pvt. Ltd., Valvoline Cummins Pvt. Ltd., and Cummins Sales & Service Pvt. Ltd. (formerly known as Cummins Svam Sales & Service Private Limited).  All these legal entities operate 21 manufacturing facilities in India.   

The Indian Industrial engine market has a rapid growth potential fueled by increasing energy and infrastructure sectors. It is valued at 162.94 million in 2023 and is expected to grow at a CAGR of 5.05 % by 2029. Even India’s power generation has increased by 6.80%, reaching 1452.43 billion KWh by January 2024. The main reason behind this is India’s growing industrialization and urbanization as India is marching towards Vikashit Bharat. Even the government has made a lot of efforts to increase industrialization and aims to make India a manufacturing hub. Cummins India holds a majority stake of around 62 % in the Indian engine manufacturing industry.   

Latest Stock News 

Cummins India’s share price increased by over 5% on February 6 after the company reported strong Q3 results, with an 11.9% year-on-year profit growth. The Board announced an interim dividend of ₹18 per share, to be paid by March 3, 2025. The stock has gained 22% over the past year.  

In an exchange filing, the company stated, “The Board of Directors has approved and declared an Interim Dividend of ₹18 per equity share (900%) on 277,200,000 equity shares (Face Value ₹2 each) for the Financial Year 2024-25.” The Record Date for determining shareholder eligibility for this interim dividend is Friday, February 14, 2025, with payment scheduled by March 3, 2025.  

On 6 February 2025, at the Bharat Mobility Global Expo 2025, Cummins India also announced the launch of its next-generation HELM™ (which stands for Higher Efficiency, Lower emissions, Multiple fuels) engine platforms. These platforms are expected to include a high-performance L10 engine with an advanced Hydrogen Fuel Delivery System (FDS) with Type IV on vehicle storage vessels and the innovative B6.7N natural gas engine. This shows the company’s understanding of the Indian Commercial Vehicle market and its aim of adhering to current market demand and future environmental requirements.  

Business Segments

  • Cummins India Limited has three business units: Engine, Power Systems, Distribution, and Integrated Supply Chain Management. 
  • The Engine Business produces engines ranging from 125 to 400 HP for light, medium, and heavy-duty commercial vehicles, as well as off-highway equipment used in construction and compressors, with power outputs between 49 HP and 430 HP. 
  • The Power Systems Business specializes in designing and manufacturing durable engines with horsepower ranging from 700 HP to 4500 HP. These engines cater to industries such as marine, railways, defence, and mining, offering high-performance solutions tailored to meet the unique requirements of each sector, ensuring reliability and efficiency across diverse applications. 

The Distribution Unit distributes powertrains and powertrain-related components.

Q3 2025 Earnings

  • Revenue is reported at Rs 3,086.01 crore in Q3 FY 2025, up 21.78% from Rs. 2,534.06 crore in Q3 FY 2024.  
  • Quarterly Net Profit at Rs. 514.00 crore in Q3 FY 2025, up 12.99% from Rs. 454.92 crore in Q3 FY 2024.  
  • EBITDA stands at Rs. 720.88 crore in Q3 FY 2025, up 10.64% from Rs. 651.54 crore in Q3 FY 2024. 

Financial Summary

Amount in ₹ Cr Q3 FY24 Q3 FY25 FY23 FY24 
Revenue 2,534.06 3,086.01 7,744 8,959 
Expenses 2,072 2,551 6,502 7,197 
EBITDA 720.88 651.54  232 1014 
OPM 21% 19% 16% 20% 
Other Income 99.39  111.39 406 566 
Net Profit 119 514 1648 2711 
NPM 4.74 16.84 21.28 30.26 
EPS 18 20.15 62.07 44.46 
BHEL, JSW Energy, and JSW Infrastructure Q3 FY25 Results
BHEL,JSW Energy, and JSW Infrastructure Q3 FY25 Results, Industry Insights

Bharat Heavy Electricals Ltd: Overview 

Bharat Heavy Electricals Ltd. (BHEL) is one of India’s largest public sector engineering and manufacturing companies, primarily focused on power generation and transmission equipment. Established in 1964, BHEL has played a crucial role in the development of India’s power and industrial infrastructure. The company is headquartered in New Delhi and operates through numerous manufacturing plants, regional offices, and service centers across India and globally. BHEL is a dominant player in the power generation equipment sector, where it manufactures a wide range of products like Thermal Power Plants, Hydroelectric Power Plants, and Gas based Power Plants. The company also offers solutions for substations, transmission lines, and distribution systems, which are critical components for maintaining power grid stability. BHEL has been diversifying its product offerings and has a growing presence in the defense sector. The company manufactures radar systems, communication equipment, and other defense electronics, contributing to India’s defense capabilities. It also offers equipment and systems for aerospace applications. BHEL has a strong presence both in India and internationally, with significant exports to countries in Asia, the Middle East, Africa, and Latin America. The company has worked on major projects in countries like Algeria, Egypt, Sri Lanka, and Nepal. 

Latest Stock News 

In the Power Segment, BHEL emerged as the successful bidder for the main plant package of the 3×800 MW Telangana Stage-II supercritical thermal power plants. The company also received a Limited Notice to Proceed (LNTP) from NTPC Ltd. to begin basic engineering. In the Industry Segment, BHEL secured an order for the supply of around 800 kV, 6000 MW Khavda-Nagpur LCC HVDC Terminal Stations, along with AC transmission systems at Khavda and Nagpur, in collaboration with Hitachi Energy India Ltd. For sector-wise order receipts up to Q3 FY25, the Power Sector received Rs. 39,464 Cr, the Industry Sector received Rs. 8,328 Cr, and Exports garnered Rs. 154 Cr. Other key orders include an EPC order for the 765 kV Air Insulated Substation Package, several substation extension orders for 400 kV/765 kV ratings, and the supply of transformers for various transmission companies. Additionally, BHEL secured orders for supplying and supervising the installation and commissioning (E&C) of a 1x 80 MW STG for a chemical manufacturing company, and supplying 689 traction motors and 27 sets of traction electrics for the DETC project from Indian Railways. The company also received a development order for high-power Li-ion cells from the Vikram Sarabhai Space Centre. In the Export Market, BHEL secured an order for the supply and supervision of a 95 MW generator for Russia and an order for safety valves for a project in Costa Rica, marking its entry into the 91st country. BHEL also successfully completed the Harbour Acceptance Trials (HATs) for the first upgraded SRGM onboard INS Nilgiri. Furthermore, six BHEL units/divisions were recognized in various categories at the prestigious CII EXIM Bank Award for Business Excellence 2024. 

Q3 FY25 Earnings 

  • Revenue of ₹7277 crore in Q3 FY25 up by 32.2% YoY from ₹5504 crore in Q3 FY24.  
  • EBITDA of ₹304 crore in this quarter at a margin of 4% compared to 4% in Q3 FY24. 
  • Profit of ₹135 crore in this quarter compared to a ₹60 crore profit in Q3 FY24. 

JSW Energy Ltd: Overview 

JSW Energy Ltd is a part of the JSW Group, is one of India’s leading private-sector power generation companies. The company is engaged in the business of power generation, transmission, and distribution, focusing on renewable energy, thermal energy, and hydroelectric power. Established in 1994, JSW Energy has played a significant role in the country’s energy sector, contributing to both the conventional and renewable energy segments. JSW Energy operates a significant portfolio of thermal power plants across India. These plants primarily use coal and gas as their fuel sources. The company has thermal power plants in states like Maharashtra, Tamil Nadu, and others, with a total installed capacity that has made it one of the major players in the Indian thermal power sector. The thermal plants play a crucial role in meeting India’s increasing energy demands, particularly in industrial and urban sectors. The company has made significant investments in solar power projects and has been scaling up its renewable energy capacity in line with the Indian government’s renewable energy targets. This segment is becoming increasingly important to JSW Energy as it aligns with global trends toward sustainability and reducing carbon emissions. The company’s hydroelectric plants help in balancing the grid by providing consistent and reliable power, especially during peak demand periods. The energy sector in India is undergoing a major transformation. The country is one of the largest consumers of energy in the world, with an increasing demand for both conventional and renewable energy sources. The Indian government has set ambitious goals for renewable energy capacity, aiming for 500 GW of non-fossil fuel-based energy by 2030, which creates opportunities for companies like JSW Energy to grow its renewable energy portfolio. 

Latest Stock News 

On December 27, 2024, O2 Power signed a definitive agreement to acquire a 4,696 MW renewable energy (RE) platform, marking one of the largest RE transactions in the sector. The deal was valued at an enterprise value of ₹12,468 crores after adjusting for net current assets. Additionally, O2 Power completed the acquisition of 125 MW of wind projects from Hetero Labs and Hetero Drugs Ltd. on January 10, 2025. The company’s net generation of energy increased by 10% YoY, reaching 6.8 billion units and is driven by wind capacity additions, incremental contributions from Utkal Unit 1, and higher generation from hydro plants. As of now, the total locked-in capacity stands at 28.3 GW. During the third quarter, 377 MW of wind capacity was commissioned, bringing the total installed capacity to 8.1 GW, with 872 MW added in the first nine months of the fiscal year. In the utility-scale segment, O2 Power received a Letter of Award (LoA) for 400 MW of ISTS-connected solar capacities from NTPC in December 2024. Wind generation reached 639 million units, a 38% increase YoY, thanks to the capacity additions. Additionally, total hydro generation rose by 14% YoY to 723 million units due to improved hydrology. 

Q3 FY25 Earnings 

  • Revenue of ₹2439 crore in Q3 FY25 down by 4.09% YoY from ₹2543 crore in Q3 FY24.  
  • EBITDA of ₹914 crore in this quarter at a margin of 37% compared to 44% in Q3 FY24. 
  • Profit of ₹157 crore in this quarter compared to a ₹232 crore profit in Q3 FY24. 

JSW Infrastructure Ltd: Overview 

JSW Infrastructure Ltd is a part of the JSW Group, is one of India’s leading private-sector players in the infrastructure development sector, with a focus on ports, logistics, and related services. Established with the aim of supporting India’s growth and fostering trade and commerce, JSW Infrastructure has expanded its footprint across various parts of India and globally. The company plays a significant role in facilitating the smooth movement of goods, especially in the maritime, logistics, and port infrastructure domains. The company operates multipurpose cargo terminals, bulk terminals, and specialized terminals for handling various types of cargo such as coal, iron ore, liquid cargo, containers, and general cargo. The company has a robust logistics network that ensures seamless transportation of goods to and from the ports. JSW Infrastructure operates at key coastal and inland locations across India, with a robust network in states such as Maharashtra, Gujarat, and Odisha. It also has a growing presence in global markets, with strategic investments in key international ports and infrastructure projects. The infrastructure and logistics sector in India is growing rapidly, driven by increasing trade, industrialization, and urbanization. With the Indian economy poised to grow, the demand for world-class ports, transportation, and logistics infrastructure is expected to rise significantly. The government’s push for the development of infrastructure, especially ports and logistics under initiatives like the Sagarmala Project, presents significant opportunities for private players like JSW Infrastructure. 

Latest Stock News 

O&M contracts have been secured for two dry bulk terminals in the UAE, namely Fujairah (24 mtpa) and Dibba (17 mtpa). The strategic locations of these terminals enhance the cargo profile, reducing transportation costs. Additionally, the company’s presence on both the West and East coasts of India provides an advantageous geographic position, ensuring strong connectivity to industrial hubs and mineral-rich regions. In Q3 FY25, the total cargo handled was 29.4 million tonnes, and in 9M FY25, it reached 85.7 million tonnes, reflecting an 11% YoY growth. The cargo handling capacity at the Mangalore Coal Terminal has been increased to 8.1 MTPA from 6.7 MTPA, while the PNP Port capacity has risen to 8 MTPA from 5 MTPA. The company maintains a strong balance sheet, with a net debt of ₹827 crore, cash and bank balances of ₹4,845 crore, and gross debt of ₹5,672 crore. 

Regarding new developments, the V.O. Chidambaranar Port (Tuticorin) signed a concession agreement in July 2024 for the construction of a 7 MTPA berth to handle dry bulk cargo, with an estimated capex of ₹600 crore. At JNPA (Liquid Terminal), a concession agreement was signed in April 2024 for two liquid cargo berths with a total capacity of 4.5 MTPA, involving an estimated capex of ₹100 crore. Notably, 40% of the pipeline has been delivered, with 25% currently under installation. Other expansions include the Mangalore Container terminal, where capacity is being increased from 4.2 MTPA to 6 MTPA, requiring an estimated capex of ₹150 crore. The brownfield expansion at Jaigarh for LPG capacity, set at 2 MTPA, is estimated to require ₹900 crore in capex. Lastly, the Goa terminal expansion will boost its capacity to 15 MTPA from 8.5 MTPA through the construction of a covered shed, with an estimated capex of ₹150 crore. 

Q3 FY25 Earnings 

  • Revenue of ₹1182 crore in Q3 FY25 up by 25.7% YoY from ₹940 crore in Q3 FY24.  
  • EBITDA of ₹586 crore in this quarter at a margin of 51% compared to 50% in Q3 FY24. 
  • Profit of ₹336 crore in this quarter compared to a ₹254 crore profit in Q3 FY24. 
Coal India Q3 Results
Coal India Q3 Results: Net Profit Declines 17% to ₹8,491 Crore, Announces 2nd Interim Dividend

Coal India Ltd: Overview

Coal India Ltd (CIL), a Maharatna company, is the world’s largest coal producer and a major player in India’s energy ecosystem. Established in 1975 and headquartered in Kolkata, CIL operates under the Ministry of Coal, Government of India. It plays a pivotal role in meeting India’s energy demands, supplying over 80% of the country’s coal requirements. CIL’s operations span coal mining, production, and supply to diverse sectors such as power, steel, cement, and fertilizers. 

India’s coal sector is critical for supporting its growing economy, as coal remains the primary source of energy generation, contributing nearly 60% to the country’s electricity production. However, the industry is also undergoing a transformation, driven by increasing environmental concerns, the shift towards renewable energy, and technological advancements to improve efficiency and reduce emissions. Despite these challenges, CIL remains central to India’s energy security strategy, catering to the ever-growing demand for coal with consistent production growth and operational improvements. 

Latest Stock News 

Coal India declares a 2nd interim dividend of ₹5.6 per share. In November 2024, Coal India Limited (CIL) took a major step toward sustainability by commissioning a 50 MW solar power plant, its largest to date, at Northern Coalfields Limited (NCL) in Nigahi. A few weeks later, on December 2, 2024, CIL signed an MoU with Bharat Petroleum Corporation Limited (BPCL) to explore a ground breaking Coal-to-Synthetic Natural Gas project at Western Coalfields Limited (WCL) using surface coal gasification technology. The Ministry of Coal further bolstered these efforts by approving a financial incentive of ₹1,350 crore for each of three coal gasification projects. 

CIL also collaborated with IREL (India) Ltd through a MoU signed on January 6, 2025, to jointly develop critical mineral assets. Meanwhile, Mahanadi Coalfields Limited (MCL) recorded its first-ever income of ₹241 crore from the Basundhara rail line during the first nine months of FY 2024-25. Operationally, the company achieved a notable reduction of ₹365 crore in explosive expenses, although repair and maintenance costs rose by ₹89 crore. However, challenges persisted. Bharat Coking Coal Limited (BCCL) grappled with land issues and fires in overburden (OB) and coal benches. At the same time, excessive rainfall, nearly double that of the previous fiscal year, significantly impacted operations at NCL. 

Business Segments

  • Coal Mining and Production: CIL operates over 352 mines, categorized into underground, opencast, and mixed mines. The company’s production volumes stood at 703.2 million tonnes (MT) in FY23, a 12% year-on-year growth, with plans to achieve 1 billion tonnes of annual production by FY26. This aligns with India’s goal of reducing coal imports and boosting domestic supply. 
  • Coal Supply and Distribution: Coal India ensures reliable and efficient coal delivery through its robust distribution network, which includes rail, road, and dedicated freight corridors. The e-auctions play an important role here. Power utilities remain the largest consumers, accounting for approximately 80% of CIL’s total coal sales. The company also caters to non-power sectors like cement, steel, and chemicals. 
  • Coal Beneficiation: To address the growing demand for higher-grade coal and reduce the ash content, CIL operates 15 coal washeries (11 coking and 4 non-coking). These washeries play a vital role in improving the quality of coal supplied to industrial users, particularly in the steel sector. CIL is planning to expand its coal beneficiation capacity in the coming years to meet evolving market needs. 
  • Renewable Energy Initiatives: In line with India’s renewable energy goals, CIL is diversifying into solar and wind energy. The company has already set up solar projects at various locations and plans to invest ₹5,650 crore to develop 3 GW of renewable energy capacity by FY27. These initiatives align with CIL’s long-term sustainability strategy and the government’s focus on reducing carbon emissions. 

Subsidiary Information

  • Mahanadi Coalfields Limited (MCL): Mahanadi Coalfields Limited (MCL), established in 1992 and headquartered in Sambalpur, Odisha, is one of Coal India Ltd’s largest and most productive subsidiaries. Operating across Odisha, MCL plays a crucial role in India’s energy sector, contributing over 190 million tonnes (MT) of coal production in FY23. The company primarily caters to the power, steel, and cement industries, with a focus on large-scale opencast mining projects. MCL emphasizes sustainability and technological advancements to maintain operational excellence. 
  • Northern Coalfields Limited (NCL): Northern Coalfields Limited (NCL), established in 1986, is headquartered in Singrauli, Madhya Pradesh. NCL operates primarily in Madhya Pradesh and Uttar Pradesh, focusing on opencast mining to meet regional power demands. It produced over 122 MT of coal in FY23, making it a significant contributor to Coal India Ltd’s output. NCL is a key supplier to major clients like NTPC and has built a reputation for its highly mechanized operations. The company also prioritizes environmental management and community development, aligning with its commitment to sustainable mining practices. 
  • South Eastern Coalfields Limited (SECL): South Eastern Coalfields Limited (SECL), founded in 1985, is headquartered in Bilaspur, Chhattisgarh. It is Coal India Ltd’s largest subsidiary in terms of geographical area, operating across Chhattisgarh and Madhya Pradesh. SECL specializes in both opencast and underground mining and recorded a production of approximately 162 MT in FY23. It is a major coal supplier for the power, steel, and cement industries. SECL is actively involved in enhancing coal evacuation infrastructure and adopting eco-friendly mining techniques, further cementing its leadership in India’s coal sector. 
  • Western Coalfields Limited (WCL): Western Coalfields Limited (WCL), established in 1975 and headquartered in Nagpur, Maharashtra, operates across Maharashtra and Madhya Pradesh. WCL specializes in both opencast and underground mining, producing around 57 MT of coal in FY23. The subsidiary plays a vital role in meeting the energy demands of western India, supplying coal to thermal power plants and other industries. WCL is also dedicated to environmental conservation through initiatives like afforestation and reclaiming mined-out areas. Its focus on sustainable mining ensures long-term regional energy security. 
  • Central Coalfields Limited (CCL): Central Coalfields Limited (CCL), founded in 1975 and headquartered in Ranchi, Jharkhand, operates extensively in the coal-rich regions of Jharkhand. CCL produced approximately 74 MT of coal in FY23, serving power, steel, and cement sectors across the country. With a mix of opencast and underground mines, the subsidiary focuses on modernizing its operations through the adoption of advanced technologies. CCL is also developing coal washeries to supply cleaner coal, aligning with its commitment to environmental sustainability and meeting the rising demand for high-quality coal. 

Q3 FY25 Earnings 

  • Revenue of ₹35780 crore in Q3 FY25 down by 1.03% YoY from ₹36154 crore in Q3 FY24.  
  • EBITDA of ₹12317 crore in this quarter at a margin of 34% compared to 36% in Q3 FY24. 
  • Profit of ₹8491 crore in this quarter compared to a ₹10292 crore profit in Q3 FY24. 

Financial Summary 

Amount in ₹ Cr Q3 FY24 Q3 FY25 FY23 FY24 
Revenue 36154 35780 138252 142324 
Expenses 23183 23463 94020 94352 
EBITDA 12971 12317 44232 47971 
OPM 36% 34% 32% 34% 
Other Income 2489 2214 6560 8396 
Net Profit 10292 8491 31723 37396 
NPM 28.6% 23.7% 22.9% 26.3% 
EPS 16.6 13.8 51.5 60.7 
Q3 FY25 Results
Q3 FY25 Results: Torrent Pharma, JSW Steel, DLF, IndiGo, and Godrej Consumer

1. Torrent Pharmaceutical results in the 3rd quarter: Net profit increased by 14% compared to the previous year as ₹ 503 CR; Income ₹ 2,809 CR.

Torrent Pharmaceuticals The net profit report increased by 14% in the 3rd quarter of the year 2025 to 5,030 million rupees, which supports strong growth in the domestic market. The company’s revenue has increased from 2,732 tens of millions of rupees to 2,809 million rules in the same period last year.

  • Businesses in India: The growth of 12% YOY is ₹ 1,581 ten million rupees, which supports the focus.
  • Business in Germany: 4% increased income compared to the previous year as ₹ 282 ten million
  • Business in the United States: 1% revenue of income of ₹ 271 ten million rupees

The Committee approved the latest dividend payment ₹ 26 per share (valued value ₹ 5), which will be paid around February 15, 2025.

2. JSW Steel Q3 results: Profit fell 70.31% YoY, revenue drops 1.34%

JSW Steel reported a YoY decline of 70.31% in net profit to ₹717 crore for Q3 FY25 with revenue slipping by 1.34% YoY. But on a sequential basis, revenue grew 4.27% and profit was up 63.33%.

  • Operating Income: Declined 38.68% YoY but improved 11.03% QoQ.
  • Expenses: Selling, General & Administrative (SG&A) expenses dropped 5.82% QoQ and 2.79% YoY.
  • Earnings Per Share (EPS): Declined 67.71% YoY to ₹3.19.

The company’s market capitalization stands at ₹226,890.3 crore, with a 52-week high of ₹1,063 and a low of ₹761.75.

3. DLF Q3 Results: Net Profit Soars 61%, Revenue Remains Steady

DLF has reported a outstanding 61% jump in net profit for the 3rd quarter of FY25, reaching ₹656.6 crore. However, its revenue saw only a inappreciable increase of 0.5%, totaling ₹1,528.7 crore. The company’s operating profit (EBITDA) decreased by 21.7% to ₹400 crore, with margins narrowing to 26.2% compared to 33.6% last year. Despite this, DLF’s net profit growth reflects strong underlying performance in the real estate sector.
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    4. Indigo Q3 Results: Profit 18% Yoy despite strong revenue growth

    Interglobe Aviation, a Carent company of Indigo, reported that net profit for Q3 FY23 fell 18% Y-O-Y to Q3 FY2024. Last year’s decline was due to a lack of periodic adjustments for the festive season.

    • Revenue: Up 14% year-on-year to Rs 22,111 crore, driven by a 12% increase in available seat kilometers (ASK) and driven by a 13.5% increase in passenger revenue (RPK).
    • Weighting factor: increased 1.2 percentage points to 86.9%.
    • Seek (Ex-fuel): Jumped sharply 23.1% Yoy to ₹3.

    5. Godrej Consumer Products Q3 Results: Net profit increased by 14% YoY. Revenue increased by 3%.

    Net profit at the foster product of Godrej, reduced by 14.2% YOY to ₹ 498 million rupees. Estimates about 525 million -year -old analysts. The income increases by 3%. YOY is ₹ 3,768 million rules.

    • EBITDA: 10.1% YoY is ₹ 756 ten million. The profit margin is reduced by 20.1% from 23% last year.
    • Highlights: ₹ 3,768 million hole, year, received compared to ₹ 3,660 million rupees, YOY (Bloomberg about 3,709 million rupees)
    KEI Industries Shares Surge 11% in Q3 Results
    KEI Industries Shares Surge 11% in Two Days Post Q3 Results and ₹4 Dividend Announcement

    KEI Industries Ltd: Overview 

    KEI Industries Ltd is a leading Indian manufacturer and supplier of cables and wires, specializing in a wide range of products, including power cables, control cables, instrumentation cables, and specialty cables. Founded in 1968 and headquartered in New Delhi, the company caters to diverse industries such as power, oil and gas, real estate, railways, and infrastructure. KEI has positioned itself as a one-stop solution provider for cables and wires, offering customized solutions that meet specific project requirements. In addition to cables, the company also manufactures stainless steel wires and provides turnkey EPC (Engineering, Procurement, and Construction) solutions, adding further value to its portfolio. With its state-of-the-art manufacturing facilities in Bhiwandi, Chopanki, Silvassa, and Pathredi, KEI ensures high-quality production and consistent supply to domestic and international markets. The company boasts a robust distribution network, covering urban and rural markets across India, and exports its products to over 50 countries, strengthening its global presence. KEI has been at the forefront of technological advancements and innovation, ensuring that its offerings align with the evolving needs of its clients and the industry. The Indian cables and wires industry is poised for significant growth, driven by rapid urbanization, increasing infrastructure development, and rising investments in the power and renewable energy sectors. Government initiatives such as ‘Make in India’ and the push for smart cities have further boosted demand for quality cables and wires. Globally, the market is witnessing a shift towards high-performance and energy-efficient cables, offering opportunities for companies like KEI to expand their product offerings and cater to the growing demand. 

    Latest Stock News 

    In Q3 FY25, KEI Industries saw a strong performance in its domestic institutional wire and cable sales, which rose to ₹809 crore compared to ₹556 crore in the same quarter last year. However, domestic institutional EHV cable sales dropped significantly to ₹41 crore, down from ₹184 crore in the previous year. Total institutional cable sales, including exports, contributed 44.82% of the company’s revenue during the quarter, a slight decrease from 45.42% in Q3 FY24. Despite this, total institutional sales, including exports, posted an impressive year-over-year growth of 18.22%. 

     For the nine months ended FY25, domestic institutional wire and cable sales climbed to ₹1,998 crore, up from ₹1,560 crore in the same period a year ago. Meanwhile, domestic institutional EHV cable sales declined to ₹193 crore from ₹402 crore last year. Total institutional cable sales, including exports, contributed 41.03% of revenue during 9M FY25, compared to 44.57% in 9M FY24. EPC sales, excluding cables, experienced a sharp decline of 58.94% year-over-year in Q3 FY25, with export EPC sales recorded at ₹13 crore for the quarter and ₹89 crore for the nine months of FY25. The company’s order book remained strong, with pending orders valued at approximately ₹3,871 crore. On a standalone basis, KEI’s financial charges in Q3 FY25 were ₹10.92 crore, consistent with the same period last year. 

    Business Segments 

    • Cables and Wires: The cables and wires segment is the largest and most significant contributor to KEI Industries’ revenue. KEI’s cables are designed to meet the diverse and demanding requirements of industries such as power generation and distribution, real estate, oil and gas, railways, and infrastructure development. These cables are known for their superior quality, reliability, and ability to withstand extreme conditions, ensuring safety and efficiency in operations. With advanced manufacturing capabilities and adherence to stringent quality standards, KEI consistently delivers innovative cable solutions tailored to the specific needs of its clients, making it a preferred partner for various sectors. 
    • Stainless Steel Wires: KEI Industries is also a prominent manufacturer of stainless steel wires, which are extensively used across several industries, including automotive, construction, and industrial machinery. These wires are renowned for their exceptional durability, resistance to corrosion, and adaptability to diverse applications. They find applications in areas such as welding, reinforcement, and industrial equipment, providing clients with reliable solutions for critical processes. By maintaining strict quality control and continuously enhancing its product range, KEI has established itself as a key player in the stainless steel wire market. 
    • EPC Services: KEI offers turnkey Engineering, Procurement, and Construction (EPC) solutions for power transmission and distribution projects, further strengthening its position as a comprehensive solutions provider. The EPC segment includes a range of services such as cable laying, installation, testing, commissioning, and project management. This end-to-end approach allows KEI to deliver complete solutions to its clients, ensuring seamless execution and timely project delivery. KEI’s commitment to excellence in project execution has made it a trusted partner for government bodies, utilities, and private organizations involved in power and infrastructure development. 
    • Exports: KEI Industries has established a strong foothold in the global market by exporting its products to over 50 countries. The company has a significant presence in regions such as the Middle East, Africa, Southeast Asia, and Europe. KEI’s export portfolio includes a diverse range of cables and wires, designed to meet the specific needs of international clients across various industries. The export business has been a key growth driver, contributing substantially to KEI’s overall revenue. 

    Subsidiary Information 

    • KEI Cables Australia Pty Ltd: This subsidiary plays a pivotal role in KEI Industries’ expansion into the Australian market. It focuses on supplying high-quality cables and wires to key industries such as mining, construction, and energy. With its robust portfolio of products and expertise, KEI Cables Australia caters to the growing demand for reliable and efficient cable solutions in the region. 
    • KEI International Ltd (Dubai): Situated in the UAE, this subsidiary enhances KEI’s presence in the Middle East, a region characterized by rapid infrastructure development and high demand for cables and EPC services. KEI International Ltd ensures that the company’s products and services are accessible to a broad range of clients, contributing significantly to the company’s growth in this key market. 
    • KEI Industries FZE (Sharjah): As a strategic hub for KEI’s export operations, this Sharjah-based entity is instrumental in providing customized cable solutions to clients across Africa, the Middle East, and nearby regions. The subsidiary focuses on meeting the unique requirements of international clients, reinforcing KEI’s commitment to delivering excellence on a global scale. 
    • KEI Europe GmbH (Germany): Headquartered in Germany, this subsidiary supports KEI’s endeavours to penetrate the European market. It specializes in providing high-performance cables and solutions tailored for industrial and infrastructure applications. By catering to the European market’s emphasis on quality and innovation, KEI Europe GmbH plays a critical role in the company’s international growth strategy. 
    • KEI Projects Pvt Ltd: This subsidiary is dedicated to executing EPC contracts, supporting KEI’s vision of offering integrated solutions for large-scale power transmission and distribution projects. KEI Projects Pvt Ltd leverages the parent company’s expertise in cables and wires to deliver comprehensive project management services, ensuring successful project completion and client satisfaction. 

    Q3 FY24 Earnings 

    • Revenue of ₹2467 crore in Q3 FY24 up by 19.8% YoY from ₹2059 crore in Q3 FY24.  
    • EBITDA of ₹241 crore in this quarter at a margin of 10% compared to 10% in Q3 FY24. 
    • Profit of ₹165 crore in this quarter compared to a ₹151 crore profit in Q3 FY24. 

    Financial Summary 

    INR Cr. Q3 FY24 Q3 FY25 FY23 FY24 
    Revenue 2059 2467 6908 8104 
    Expenses 1845 2226 6206 7267 
    EBITDA 215 241 702 838 
    OPM 10% 10% 10% 10% 
    Other income 14 14 32 49 
    Net Profit 151 165 477 581 
    NPM 7.3% 6.7% 6.9% 7.2% 
    EPS 16.7 17.3 52.9 64.5