·      L&T announced inline with expected Q4 Ebitda but stro | DK Technical Analysis by Dhananjay Kadam

 
·      L&T announced inline with expected Q4 Ebitda but strong order book. Company reported Q4 Net profit Rs3990cr (up 10% YoY)– Bloomberg expectation Rs4032cr, Income Rs58340cr (up 10% YoY) – Expectation Rs58907cr, Ebitda Rs6833cr (up 4.9% YoY) – Bloomberg expectation 7147cr, Ebitda margin at 11.7% vs 12.3% (YoY), New orders Rs76100cr estimates Rs6546cr and Order Book at period end Rs4 lakh cr (up 12% YoY)  - expectation Rs3.89lakh cr
 
·      Venkay’s Q4 Net profit Rs25.2cr (down 56% YoY), Income Rs1042.5cr (down 15% YoY), Ebitda margin 3.3% vs 7% (YoY), Ebitda Rs34cr (down 60.6% YoY)
 
·      Sanfoi India Q1 Net profit Rs190.4cr (down 20% YoY) – Bloomberg expectation Rs131cr, one time gain Rs17.8cr, Ebitda down 18% at Rs230cr, Ebitda margin 31.2% and Income Rs737cr (up 4.2% YoY) – Expectation 690cr
 
·      Escort announced better than expected Q4 Ebitda and Ebitda margin. Company reported Q4 Net profit Rs185.5cr (down 8.2% YoY) – expectation Rs177.9cr, Income Rs2183cr (up 16.8% YoY) – expectation Rs2198.5cr, One tome loss Rs24.4cr Ebitda margin 10.8% vs 13.5 (YoY) – expectation 9.1%, Ebitda Rs236cr (down 6.2% YoY) – expectation Rs199.5cr
 
·      Godrej Consumers announced inline with expected Q4 Ebitda and Ebitda margin. Company reported Q4 Net profit Rs452.1cr (up 24.2% YoY) – expectation Rs380cr, Income Rs3200.2cr (up 9.8% YoY) – expectation Rs3170cr, Ebitda margin 20% vs 17.2 (YoY) – expectation 19.7%, Ebitda Rs641cr (up 37.1% YoY) – expectation Rs630cr
 
·      Hindalco Novelis 4QFY23 first cut – Revenue in-line, EBITDA miss on back of higher input costs - Revenue stood at USD4,397m (YoY/QoQ: -9%/ +5%) which was 8% above our estimates of USD4,055m. Shipment volume stood at 936kt (YoY/QoQ: -5%/ +3%) and was in line to our est of 975kt.  Adj. EBITDA stood at USD403m (YoY/QoQ: -6%/ +18%) was 11% below our estimates of USD452m. The EBITDA was impacted due to lower volumes and higher operating costs. EBITDA/t at USD431/t (YoY/QoQ: -1%/ +15%) was below our est of USD464/t. Adjusted PAT for the quarter stood at USD197m (YoY/QoQ: -13%/ +36%) was above our est of USD164m. Lower tax outgo supported APAT.