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Bajaj Finance stock hits 52-week high on strong Q4FY18 numbers

Shares of Bajaj Finance hit 52-week high after the company’s standalone revenue improved by 33.2% yoy to Rs3,557cr.

Its NII came at Rs2,365cr as against Rs1,686cr, which has improved by 40.3% yoy.

The company’s net profit came above estimates at Rs720.9cr against Rs449cr, up 60.5% yoy. Its GNPA declined by 19bps qoq to 1.48% and NNPA has declined by 15bps qoq to 0.38% respectively.

Jyothy Laboratories rallies for second day post Q4 results

Jyothy Laboratories Jyothy Laboratories stock soared for the second straight day after it reported strong March quarter earnings.

The company reported strong set of numbers for the quarter significantly ahead of consensus estimates. Company reported strong revenue (net of excise duty) growth of 15.8% yoy to Rs516.8cr, 4% ahead of estimates.

Due to tax reversal of Rs65.6cr in the base quarter, company reported that PAT has declined by 29.3% yoy to Rs75.9cr.

The comparable revenue growth for the quarter stood at 17.2% yoy aided by 11.4% yoy volume growth.

Granules India surges 9% on drug approval

Shares of Granules India have surged by 9% to Rs105 on the back of the USFDA approval to its Methylergonovine 0.2 mg Tablets. This is a low competition drug with sizable volumes and launch of this product will be beneficial to Granules India.

The approval has also come from its US facility, which is also positive for the company, as it will start building pipeline form the US facility located in Virginia. This is an acquired facility and company is planning to start filling value added products from this site. The plan is to develop 5-6 ANDAs per year. As company starts launching products from this site, there will be operating leverage that it will generate leading to margin expansion.

Transport Corporation’s Q4 PAT jumps 76%; to divest its cold chain business

Transport Corporation of India reported 25.7% yoy growth in the revenue to Rs605.3cr in Q4FY18. The growth was driven by 15% yoy growth in the freight business, 33% yoy growth in supply chain business and 61% yoy growth in seaways business.

The strong revenue growth, coupled with decline in operating expenses (as % of sales) led to 182bps yoy and 51bps qoq expansion of the EBITDA margins.

Absolute EBITDA grew by 53.7% yoy to Rs60.5cr in Q4FY18. PAT grew 76.2% yoy to Rs32.7cr in Q4FY18 due to higher operating leverage. Depreciation and interest expenses grew by 9% yoy and 7% yoy respectively in Q4FY18.

Cabinet approves National Biofuel Policy

The Union Cabinet, chaired by the Prime Minister Narendra Modi has approved National Policy on Biofuels – 2018.

The Policy expands the scope of raw material for ethanol production by allowing use of Sugarcane Juice, Sugar containing materials like Sugar Beet, Sweet Sorghum, Starch containing materials like Corn, Cassava, Damaged food grains like wheat, broken rice, Rotten Potatoes, unfit for human consumption for ethanol production.

The Policy categorises biofuels as “Basic Biofuels” viz. First Generation (1G) bioethanol & biodiesel and “Advanced Biofuels” – Second Generation (2G) ethanol, Municipal Solid Waste (MSW) to drop-in fuels, Third Generation (3G) biofuels, bio-CNG etc. to enable extension of appropriate financial and fiscal incentives under each category.

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