Stocks to watch- Kotak Mahindra Bank: The bank's PAT for FY2 | Neeraj Joshi
Stocks to watch-
Kotak Mahindra Bank: The bank's PAT for FY24 increased by 26% YoY to 13,782 crore. The PAT for Q4FY24 was 4,133 crore, an 18% YoY increase. The bank's NII for FY24 increased by 21% YoY to ₹25,993 crore. The NIM for Q4FY24 was 5.28%. The bank's board recommended a 2 per share dividend.
Avenue Supermarts: The company, which runs large format retail stores DMart, reported a 22% YoY increase in their net profits for Q4FY24, with the PAT rising to ₹563.1 crore. The company's revenue from operations grew by 20% to 12,726 crore.
Mahindra Finance: The company's total income for Q4FY24 was ₹3,706 crores, a 21% YoY increase. However, its PAT decreased by 10% YoY to ₹619 crores, while its NII increased by 14%, to ₹1,971 crores. The company's NIM was stable at 7.1%. Disbursements rose by 11% to ₹15,292 crores, and the Gross Loan Book grew by 24% YoY to 1,02,597 crores. The company also improved its asset quality, reducing Stage 3 assets to 3.4% from 4.0% in December 2023. Credit costs were within the targeted range of 1.5% 1.7%.
Britannia Industries: The company reported a consolidated net profit of ₹536.61 crore for the March quarter, a decline of 3.76% from the same quarter of the previous financial year. The total revenue of the company stood at ₹4,069.36 crore, rising 1.14% from the year-ago quarter.
IDBI Bank: The bank reported a 43.7% YoY increase in net profit for Q4FY24, at 1,628.5 crore. The bank's NII rose by 12.4% to ₹3,687.9 crore. The bank's board recommended a dividend of ₹1.50 per equity share for FY24.
Adani Enterprises: The company has expressed interest in developing the port of Bataan in the Philippines. The company plans to construct a 25- meter deep port designed to accommodate Panamax vessels. Separately, the Adani Group's Mundra petrochemical project is set to receive a loan of ₹17,000 crore from a consortium led by the State Bank of India (SBI), covering 60-70% of its capital expenditure requirement. The loan will aid in the financial closure of the project, which had halted last year due to allegations of financial fraud. The project, requiring a total capex of ₹25,000-27,000 crore, resumed operations in July last year.
Titan Company: The firm reported a Q4 standalone net profit of ₹786 crore, up 7% YoY. The company's revenue rose 17% to ₹10,047 crore. EBITDA for the quarter was at ₹1,109 crore, growing by 6.2%. The board recommended a dividend of 11 per equity share.
JSW Infrastructure: The company plans to invest over 2,500 crore in fiscal year 2025 to expand its cargo handling capacity. The company anticipates a 50% increase in capacity to 258 million tonne with an investment of ₹14,000 crore by 2027.
