Category Earnings Results

Lupin Ltd
Lupin Q3 Results: Profit Soars 39.5% to ₹855 Cr, Revenue Climbs 11%

Business and Industry Overview: 

Lupin Limited is an Indian multinational pharmaceutical company based in Mumbai, recognised as one of the largest generic pharmaceutical companies globally by revenue. It focuses on areas such as pediatrics, cardiovascular health, anti-infectives, diabetes, asthma, and anti-tuberculosis treatments. The company operates across the entire pharmaceutical value chain, including branded and generic formulations, active pharmaceutical ingredients (APIs), advanced drug delivery systems, and biotechnology products. Lupin’s products reach 70 countries, with a strong presence in advanced markets like the USA, Europe, Japan, and Australia, as well as emerging markets such as India, the Philippines, and South Africa. 

It has a Research Park, located near Pune and Aurangabad, which houses over 1,400 scientists. Lupin’s R&D encompasses the following areas: Generics Research, Process Research, Pharmaceutical Research, Advanced Drug Delivery Systems (ADDS) Research, Intellectual Property Management, Novel Drug Discovery and Development (NDDD), and Biotechnology Research.  

India is the largest global provider of generic drugs and is renowned for its affordable vaccines and generic medications. The Indian pharmaceutical industry is currently ranked third in terms of pharmaceutical production by volume. It has evolved into a thriving sector, growing at a compound annual growth rate (CAGR) of 9.43% over the past nine years. Key segments of the Indian pharmaceutical industry include generic drugs, over-the-counter medications, bulk drugs, vaccines, contract research and manufacturing, biosimilars, and biologics. India boasts the highest number of pharmaceutical manufacturing facilities that meet the standards of the US Food and Drug Administration (USFDA) and has 500 API producers, which account for approximately 8% of the global active pharmaceutical ingredient (API) market. Lupin is a major provider of anti-TB API to several leading global institutions and is among the top five pharmaceutical brands in India, holding a 3.4% market share. 

Latest Stock News: 

Pharmaceutical giant Lupin experienced a surge in its share price on Thursday, February 13, 2025, with shares rising by 5.69% to reach an intraday high of Rs 2,140.20. This increase was driven by a strong performance in the third quarter of the financial year 2025 (Q3FY25). 

Lupin reported a remarkable 39.5% year-on-year increase in profit, which climbed to Rs 855.1 crore, up from Rs 613.1 crore in Q3FY24. Additionally, revenue rose by 11% to Rs 5,767.7 crore, compared to Rs 5,197.4 crore during the same period last year.  

The company’s operational performance was also impressive, with earnings before interest, taxes, depreciation, and amortization (EBITDA) soaring by 30.6% to Rs 1,355.8 crore. This led to an expansion in the EBITDA margin to 23.5%, an increase of 350 basis points from 20% a year ago. 

Segmental information: 

Lupin operates in multiple therapeutic and business segments: 

1. Generics: This segment is a key revenue driver, providing affordable off-patent medications across various therapeutic areas. 

2. Branded Formulations: Lupin has a strong presence in India and emerging markets, with leading brands in cardiovascular health, diabetes, respiratory conditions, gastroenterology, and women’s health. 

3. Speciality Pharmaceuticals: The focus here is on complex and niche therapies, particularly in the fields of neurology and respiratory diseases. 

4. Active Pharmaceutical Ingredients (APIs): Lupin manufactures APIs for both its formulations and for third-party clients around the world. 

5. Biotechnology and Biosimilars: The company is also engaged in the development of biosimilars, especially in oncology and immunology, as part of its long-term growth strategy. 

Subsidiary Information:   

Lupin Limited, a prominent global pharmaceutical company, has established a network of subsidiaries worldwide to enhance its market presence and operational capabilities. Below is an overview of some key subsidiaries: 

1. Lupin Pharmaceuticals, Inc., USA: Serves as Lupin’s U.S. subsidiary, focusing on the development and marketing of generic and branded pharmaceuticals in the American market. 

2. Pharma Dynamics (Proprietary) Ltd., South Africa: A leading generic pharmaceutical company in South Africa, offering a broad range of affordable medications. 

3. Hormosan Pharma GmbH, Germany: Specializes in generic pharmaceuticals, catering to various therapeutic areas within the German healthcare sector. 

4. Multicare Pharmaceuticals Philippines, Inc., Philippines: Focuses on providing high-quality pharmaceutical products to meet the healthcare needs of the Philippines. 

5. Generic Health Pty Ltd., Australia: Engages in the distribution of generic pharmaceutical products across Australia, ensuring accessibility to essential medications. 

6. Nanomi B.V., Netherlands: Involved in advanced drug delivery technologies, contributing to Lupin’s research and development efforts in innovative therapeutics. 

7. Lupin Atlantis Holdings SA, Switzerland: Manages Lupin’s operations and strategic initiatives within the European region. 

8. Lupin Healthcare (UK) Ltd., United Kingdom: Oversees the distribution and marketing of Lupin’s pharmaceutical products in the UK market. 

9. Lupin Pharma Canada Ltd., Canada: Dedicated to the development and commercialization of pharmaceutical products tailored for the Canadian healthcare system. 

10. Lupin Mexico S.A. de C.V., Mexico: Focuses on expanding Lupin’s footprint in the Mexican pharmaceutical market through a range of generic and branded products. 

11. Lupin Life Sciences Limited, India: Established to manage the generics business in India, aligning with Lupin’s strategic focus on the domestic market. 

12. Lupin Manufacturing Solutions Limited: Created to oversee the manufacturing, sale, export, and import of Active Pharmaceutical Ingredients (APIs) and intermediates, as well as to undertake contract development and manufacturing activities. 

Q3 Highlights: 

  • The company achieved a notable 39.5% year-over-year increase in profit, rising to Rs 855.1 crore in Q3 FY24 from Rs 613.1 crore in the same quarter last year.  
  • Revenue grew by 11% year-over-year, reaching Rs 5,767.7 crore compared to Rs 5,197.4 crore in Q3 FY24.  
  • EBITDA surged by 30.6%, climbing to Rs 1,355.8 crore and reflecting a strong operational performance.  
  • The EBITDA margin expanded to 23.5%, marking a 350 basis points increase from the previous year’s margin of 20%. 

Financial Summary: 

Amount in ₹ Cr Q3 FY24 Q3 FY25 FY23 FY24 
Revenue 5,197.00 5,768.00 16,642 20,011 
Expenses 4,159.00 4,412 14,921 16,211 
EBITDA 1,038.00 1,356 1,721.00 3,800.00 
OPM 20% 24% 10% 19% 
Other Income 29 54 151 131 
Net Profit 619.00 859.00 448 1,936 
NPM 11.91 14.89 2.69 9.67 
EPS 13.47 18.74 9.45 42.01 
Siemens
Siemens Q3 Results: Net Profit Strong Jumps 22% to ₹614 Crore, Revenue Declines 3%

Business and Industry Overview: 

Siemens Limited is a technology-focused company in India which is a part of Siemens AG, Germany. It specializes in digital and sustainable transformation. The company offers a comprehensive portfolio through Siemens Xcelerator. The Siemens Xcelerator serves as a marketplace where customers can select solutions tailored to their business challenges, including offerings in digital enterprise solutions, industrial cybersecurity, AI/ML, and more. It features a range of technology solutions, such as Digital Enterprise solutions, industrial edge, industrial cybersecurity, IT/OT integration, integrated automation, and Artificial Intelligence (AI) / Machine Learning (ML). Additionally, it offers products like Building X, Electrification X, and Gridscale X, which assist grid, urban, and industrial infrastructure customers on their digital transformation journeys. In the financial year 2024, the company secured orders from various sectors, including renewables and metals, for its cutting-edge technologies. 

With its local expertise and strong global technological leadership, Siemens Limited is well-positioned to support India’s industrial and economic growth through its innovative solutions in electrification, automation, and digitalization. Siemens India has a strong presence across various industries, supported by its robust research and development capabilities, local manufacturing, and efforts in digital transformation. The company aligns strategically with India’s economic policies, including Make in India, the Smart Cities Mission, and Atmanirbhar Bharat, which aim to foster local innovation and enhance infrastructure development. 

Latest Stock News: 

Siemens reported a 22% increase in their consolidated net profit for Q3 FY25, rising to Rs 614.30 crore from Rs 505.40 crore in the same quarter last year. Consolidated revenue from operations fell by 3% to Rs 3,587.20 crore compared to Rs 3,709.50 crore a year ago. Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) declined 11.5% to Rs 401 crore, with a margin contraction from 12.2% to 11.2%. 

CEO Sunil Mathur stated that the revenue had declined due to slower private sector capital expenditure and normalizing demand in digital industries, while emphasizing the growth in Smart Infrastructure and Mobility sectors due to government spending.  

Segmental information: 

Siemens India operates through several key business segments: 

1. Smart Infrastructure: This segment provides solutions for buildings, grid infrastructure, and energy distribution, all aimed at promoting sustainable urban development. 

2. Digital Industries: Focused on automation, digitalisation, and industrial software, this segment optimises manufacturing and process industries. 

3. Mobility: This area offers railway automation, electrification, and rolling stock solutions to enhance India’s transportation and logistics sector. 

4. Energy: Engaged in power generation, transmission, and grid modernisation, this segment supports India’s transition toward cleaner energy sources. 

5. Healthcare (Siemens Healthcare) : This division develops advanced medical imaging, diagnostics, and laboratory automation solutions. 

6. Siemens Financial Services: This segment provides customised financing solutions for industrial and infrastructure projects. 

Subsidiary Information:   

Siemens Rail Automation Private Limited (SRAPL)       

SRAPL, a wholly owned subsidiary of the Company, specializes in the manufacture, supply, design, installation, and commissioning of railway signalling equipment, which includes both trackside and onboard equipment. 

C&S Electric Limited (C&S)       

C&S is a subsidiary of the Company, in which the Company holds a 99.22% equity stake. It is involved in the manufacturing and distribution of low-voltage products and systems, such as switchboards, power distribution products, control products, protection relays, measurement devices, bus duct, and busbar trunking. For the financial year 2023-24, C&S reported a turnover of ₹17,019 million, accounting for 8% of the Company’s consolidated turnover. This represents an increase from ₹15,036 million for the year ended September 30, 2023. Additionally, the Profit from Operations for C&S for the year ended September 30, 2024, was ₹2,497 million, compared to ₹1,544 million in the previous year. 

Siemens Energy India Limited (SEIL)       

SEIL is a wholly owned subsidiary of the Company and was incorporated on February 7, 2024, for the purpose of demerging the Company’s Energy business (as defined in the Scheme) into SEIL. The first financial year for SEIL spans from February 7, 2024, to September 30, 2024. 

Associate Company: Sunsole Renewables Private Limited (Sunsole)       

Sunsole is an associate company of the Company, engaged in the construction, operation, and maintenance of a solar power plant. This plant supplies power generated on a captive basis to the Company. For the year ended September 30, 2024, Sunsole reported a turnover of ₹23 million, compared to ₹24 million for the previous year. Moreover, its profit for the year ended September 30, 2024, was ₹4 million, a significant improvement from a loss of ₹5 million for the year ended September 30, 2023. 

Q3 Highlights: 

  • Siemens’ revenue from operations stood at ₹3,587 crore in Q3 FY25, falling 3.3% from ₹3,710 crore in the same period last year.   
  • The company’s EBITDA contracted to ₹401 crore in the December quarter of FY25. 
  • Net profit is recorded as ₹ 615 crore in Q3 FY25 compared to ₹ 506 crore in the same quarter compared to last year.  

Financial Summary: 

Amount in ₹ Cr Q3 FY24 Q3 FY25 FY23 FY24 
Revenue 3,710.00 3,587.00 19,554 22,240 
Expenses 3,256.00 3,186 17,067 19,136 
EBITDA 453 401.00 2,487.00 3,104.00 
OPM 12% 11% 13% 14% 
Other Income 256 415 496 925 
Net Profit 506.00 615.00 1,962 2,718 
NPM 13.64 17.15 10.03 12.22 
EPS 14.19 17.25 55.06 76.28 
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 
Muthoot Finance Ltd.
Muthoot Finance Q3 Results: Net Profit Surges 22% to ₹1,392 Crore and Growth & Market Insights

Business and Industry Overview: 

Muthoot Finance Limited is India’s largest gold loan non-banking financial corporation. It offers services like financing gold loans, insurance, housing loans, SME loans, and money transfer services. It is a gold financing company that provides loans against gold jewellery as collateral. The company is headquartered in Kochi, Kerala, and has over 5000 branches throughout the country. Outside India, Muthoot Finance is established in the UK, the US, and the United Arab Emirates. The company falls under the brand umbrella of the Muthoot Group. Its stocks have been listed on the BSE and NSE since its initial public offering in 2011. The target market of Muthoot Finance includes small businesses, vendors, farmers, traders, SME business owners, and salaried individuals.

Non-Banking Financial Companies (NBFCs) have witnessed significant growth in India’s financial ecosystem, playing a crucial role in credit expansion and financial inclusion. Their market share in credit distribution increased from 12% in 2008 to 18% in 2019, before slightly declining to 16% in 2022 due to increased competition from banks. Muthoot Finance is a leader in the microfinance landscape in India.  

Latest Stock News: 

Muthoot Finance reported a net profit of ₹1,363 crore for the third quarter of FY25, reflecting a growth of 32.7% compared to ₹1,027.3 crore during the same period last year. Following the announcement of these strong Q3 results, Muthoot Finance’s share price surged over 5% in early trading on 13 February 2025. The shares rallied by as much as 6.45%, reaching a fresh 52-week high of ₹2,321.80 on the BSE. 

The company’s significant net profit growth was driven by robust loan growth and margin expansion. Additionally, Muthoot Finance reported its highest-ever consolidated loan assets under management (AUM) at ₹1.11 lakh crore as of December 31, 2024. During the quarter, the consolidated loan AUM increased by ₹7,159 crore, representing a 7% quarter-on-quarter growth. 

Segmental information

  • Gold loans: It offers gold loans at low interest rates to its customers. 
  • Housing finance: It offers housing finance options to its customers.  
  • Personal loans: It offers personal loans. 
  • Wealth management: It offers wealth management solutions. 
  • Money transfer: It offers money transfer services. 
  • Insurance broking: It offers insurance broking services. 
  • Microfinance: It offers microfinance services. 

Subsidiary Information:

Muthoot Money Ltd. (MML) became a wholly owned subsidiary of Muthoot Finance Ltd. in October 2018. MML is a Reserve Bank of India (RBI) registered Non-Banking Finance Company primarily engaged in providing gold loans. 

Muthoot India Brokers Pvt Ltd (MIBPL) also became a wholly owned subsidiary of Muthoot Finance Ltd in September 2016. MIBPL is an unlisted private limited company that has held a Direct Broker license from the Insurance Regulatory and Development Authority (IRDA) since 2013. 

Asia Asset Finance PLC (AAF) in Colombo, Sri Lanka, became a foreign subsidiary of Muthoot Finance on December 31, 2014. As of December 31, 2024, Muthoot Finance holds 91 million equity shares in AAF, representing 72.92% of the company’s total capital. The loan portfolio stands at LKR 28,404 million as of December 31, 2024. 

Muthoot Homefin (India) Limited is a Housing Finance Company registered with the National Housing Bank (NHB). It became a wholly owned subsidiary of Muthoot Finance Ltd. in August 2017.  

Q3 Highlights

  • Muthoot Finance reported a 32.7% YoY increase in Q3 FY25 net profit to ₹1,363 crore. 
  • Following the results, the stock surged over 5%, reaching a 52-week high of ₹2,321.80. 
  • The company’s loan AUM hit ₹1.11 lakh crore, its highest-ever level. 
  • The loan AUM grew by ₹7,159 crore (7% QoQ) in Q3 FY25. 

Financial Summary:  

Amount in ₹ Cr Q3 FY24 Q3 FY25 FY23 FY24 
Revenue 3,168.00 4,423.00 10,515 12,635 
Expenses 566.00 913 2,110 2,513 
EBITDA 1,390 1,863.00 4,696.00 5,455.00 
OPM 44% 42% 45% 45% 
Other Income 8 8 29 59 
Net Profit 1,027.00 1,363.00 3,474 3,474 
NPM 32.42 30.82 33.04 27.50 
EPS 25.59 33.95 86.52 100.87 
Tata Investment Corporation ltd
Tata Investment Corporation Q3 Results: Net Income Falls to ₹196.1 Million, Profit Declined

Business and Industry Overview: 

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

Latest Stock News: 

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

Segmental information: 

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

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

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

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

Subsidiary Investments: 

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

Q3 Highlights: 

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

Financial Summary: 

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

Business and Industry Overview: 

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

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

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

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

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

Latest Stock News: 

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

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

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

Segmental information: 

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

Healthcare Services 

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

Pharmacy & Digital Healthcare 

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

Primary & Secondary Care 

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

Telehealth Services 

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

Health Insurance & Wellness 

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

Education & Research 

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

International Healthcare Projects 

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

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

Subsidiary Information: 

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

Q3 Highlights: 

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

Financial Summary: 

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

Business and Industry Overview: 

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

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

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

Latest Stock News: 

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

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

Segmental information: 

Vodafone operates in several business segments, primarily categorized into: 

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

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

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

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

Subsidiaries: 

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

Joint Venture: 

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

Associate Company: 

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

Q3 Highlights: 

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

Financial Summary: 

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

Patanjali Foods Limited: Overview 

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

Latest Stock News 

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

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

Business Segments: 

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

Subsidiary Information: 

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

Q3 FY25 Earnings 

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

Financial Summary 

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

Grasim Industries Ltd: Overview

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

Latest Stock News 

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

Business Segments 

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

Subsidiary Information 

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

Q3 FY25 Earnings 

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

Financial Summary 

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

Business and Industry Overview: 

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

Latest Stock News:

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

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

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

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

Subsidiary Information:

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

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

Ramagundam Fertilizers and Chemicals Limited (RFCL):  

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

Q3 Highlights:

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

Financial Summary:

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