Stocks to Watch: Maruti Suzuki, ICICI Bank, HCLTech, Apollo Hospitals, IDFC First Bank, SBI Cards

Maruti Suzuki India: The company reported a standalone net profit of ₹3,878 crore for the quarter ending March FY24. This represents a 47.8 percent increase from the same period last year, largely due to robust operational figures and increased other income. However, the overall results fell short of market predictions. The company’s operational revenue saw a year-on-year growth of 19.3%, reaching ₹38,235 crore, with a 13.4% increase in sales volume to 5.84 lakh units. The EBITDA rose by 40 percent year-on-year to ₹38,235 crore, with a margin growth of 170 basis points to 12.2 percent for the quarter. For FY24, the company proposed a record dividend of ₹125 per share.

ICICI Bank: The private sector bank reported a standalone net profit of ₹10,707.5 crore for the quarter ending March FY24, representing a 17.4% increase from the same period last year, primarily due to reduced provisions for bad loans. The bank's earnings exceeded market expectations. The net interest income for the quarter rose by 8.07% YoY to ₹19,093 crore. The bank also saw an improvement in asset quality, with the gross NPA dropping 14 bps sequentially to 2.16 percent and the net NPA decreasing 2 bps to 0.42 percent in Q4 FY24.

HCL Technologies: The IT services firm announced a net profit of ₹3,986 crore for the quarter ending March FY24. This represents an 8.4 percent decrease from the previous quarter, primarily due to underwhelming operational figures, and the overall results were below market forecasts. The company's operational revenue saw a marginal sequential growth of 0.2%, reaching ₹28,499 crore for the quarter. Dollar revenue growth was at 0.4%, and revenue in constant currency terms increased by 0.3% QoQ. The board has proposed an interim dividend of ₹18 per share for FY24. For FY25, HCL Tech anticipates revenue growth in constant currency terms in the range of 3-5 percent and an EBIT margin of 18–19 percent.

Apollo Hospitals Enterprise: Apollo HealthCo, also known as Apollo 24/7 or AHL, a subsidiary of Apollo Hospitals Enterprise, has signed a binding agreement to secure an equity capital of ₹2,475 crore from Advent International, a global private equity investor. Further, Apollo 24/7 plans to integrate Keimed, a wholesale pharmaceutical distributor, into its operations in a gradual process over the next 24 to 30 months. Advent will make investments in two stages through compulsory convertible instruments, acquiring a 12.1% stake in the combined entity. The merged entity is valued at an enterprise value of ₹22,481 crore.

Vodafone Idea: ATC Telecom Infrastructure has divested its entire stake in Vodafone Idea, selling all of its 144 crore equity shares, which represents 2.87% of the paid-up equity, at an average price of ₹12.78 per share through open market transactions. This sale is valued at ₹1,840.3 crore. On the other hand, Citigroup Global Markets Mauritius has acquired a net total of 48,13,75,145 equity shares in Vodafone at an average price of ₹12.7 per share.

SBI Cards: The company reported a net profit of ₹662 crore in the quarter ending March 31, representing an 11% growth compared to the same period in the previous fiscal year, thanks to robust operational performance. The company's operational revenue for the quarter also saw a rise, reaching ₹4,348 crore, marking a 15.6% year-over-year increase.

RBL Bank: The bank reported robust growth of 49% YoY in its operating profit, while its net profit and deposits increased by 30% and 22%, respectively. A dividend of ₹1.50 per share was declared for eligible shareholders during the Q4 results announcement. The bank posted a net profit of ₹353 crore in Q4FY24, marking a 51% QoQ growth and a 30% YoY increase. It also reported an operating profit of ₹8,887 crore, reflecting a 49% YoY rise and a 16% QoQ growth.

IDFC First Bank: The bank reported a net profit of ₹724 crore for the quarter ending March FY24, marking a 9.8% decrease from the same period in the previous fiscal year due to increased provisions. The bank's net interest income saw a YoY increase of 24%, reaching ₹4,469 crore for the quarter. The bank's asset quality improved significantly, with the gross NPA decreasing by 16 basis points QoQ to 1.88%, and the net NPA dropping by 8 basis points sequentially to 0.60% for the quarter.

Yes Bank: The company announced a substantial 123% YoY increase in net profit, amounting to ₹452 crore for the quarter ending March 31. This growth was partially driven by an increase in other income and a reduction in provisions. During the same period, the bank's net interest income saw a 2.3% rise, reaching ₹2,153 crore. The bank's asset quality improved significantly over the quarter, with the gross NPA dropping 30 basis points QoQ to 1.7 %, and the net NPA decreasing 30 basis points sequentially to 0.60%.

SBI Life Insurance Company: The company reported a net profit of ₹810.8 crore for Q4FY24, marking a 4.4% increase compared to the same period last year. The company's net premium income for the quarter saw a significant rise, growing by 26.2% YoY to reach ₹25,116.5 crore. However, the net commission experienced a slight decline of 2.3%, amounting to ₹851.4 crore during the same period.

Ircon International: The company, in collaboration with Dineshchandra R. Agrawal Infracon (DRA), has been awarded the contract for the Kottavalasa-Koraput doubling project of the Waltair division, East Coast Railway. The project, to be executed on an EPC basis, is valued at ₹1,198.09 crore.

Shakti Pumps: The company has reported a significant 41-fold year-on-year surge in net profit, reaching ₹89.7 crore for the quarter ending March FY24, driven by robust operational performance. The company's operational revenue saw more than a threefold increase to ₹609.3 crore, up from ₹182.7 crore in the same period. EBITDA also saw a nearly twelvefold rise to ₹130.7 crore from ₹11 crore, with a margin expansion of 1,550 basis points, standing at 21.5%. The company has proposed a final dividend of Rs. 4 per share.

Indiabulls Real Estate: The company reported a net loss of ₹302 crore for the quarter ending March FY24, an improvement from a loss of ₹376 crore in the same period last fiscal year. However, the company's operational revenue saw a significant decrease, falling by 80.6% year over year to ₹21 crore for the quarter.

Patanjali Foods: The FMCG company announced that its board has deliberated on a preliminary proposal from Patanjali Ayurved (PAL) regarding the sale of PAL's non-food business to the company. The board has given a provisional nod to assess the most effective method to boost synergies with PAL's non-food portfolio, ensuring all transactions are conducted at arm's length.

State Bank of India: On April 26, the State Bank of India announced a partnership with HCLSoftware, a subsidiary of HCLTech, to facilitate the bank's digital transformation. As part of a five-year agreement, HCLSoftware will implement the HCL Unica platform. This will allow SBI to revolutionize its customer interaction framework and deliver highly personalized communication across various digital marketing channels, all while complying with the Digital Personal Data Protection Act (DPDPA) and other rigorous security standards.

Eveready Industries: The company reported a profit of ₹8 crore for the fourth quarter ending March 31, a significant turnaround from a loss of ₹14.39 crore in the same quarter of FY23, despite a slight decrease in operational revenue to ₹281 crore. However, this profit represents a small decrease compared to the December 2023 quarter. The company's revenues for the full FY24 were ₹1,314.2 crore, a minor one percent drop from ₹1,327.7 crore in FY23. The Profit After Tax (PAT) for the year witnessed a remarkable 231% growth to ₹66.7 crore in FY24, up from ₹20.1 crore in FY23.

Mastek: Despite a weak operating margin, the company reported a net profit of ₹94.4 crore for the quarter ending March FY24, marking a 30.1% growth from the same period in the previous fiscal year, aided by a tax write-back. Revenue from operations increased by 9.9% YoY to ₹780 crore during the quarter, but EBITDA fell 0.3% YoY to ₹125.1 crore, and the margin dropped 165 basis points to 16% for the quarter.

Force Motors: The company reported a 4.3% YoY decrease in consolidated net profit, amounting to ₹140.3 crore for the quarter ending March 31, attributed to a high base. The profit for Q4FY23 included an exceptional gain of ₹208.32 crore. The quarter’s revenue from operations rose by 35% compared to the same period last year, reaching ₹2,011.2 crore. The board proposed a dividend of ₹20 per share for FY24.

Aditya Birla Sun Life AMC: The company reported a consolidated net profit of ₹208.4 crore for the January-March quarter of FY24, marking a 53.7% growth from the same period in the previous fiscal year. This growth was backed by both revenue and operating numbers. The company's revenue from operations in Q4FY24 was ₹365.6 crore, a 23% increase from the corresponding quarter in the previous year.

Sanghi Industries: The cement company reported a net loss of ₹19 crore for the quarter ending March FY24, a significant reduction from a loss of nearly ₹105 crore in the same period last fiscal year. This improvement was partly due to healthy operating numbers, lower finance costs, and an increase in topline. The company's revenue from operations for the quarter grew by 26.2% YoY, reaching ₹285 crore.

Mahindra Holidays and Resorts India: The company reported a consolidated net profit of ₹83.2 crore for the quarter ending March 31, a 47.8% increase from the same period last year. The company's revenue from operations for the same period rose by 12.4% to ₹800.2 crore.

Utkarsh Small Finance Bank: The bank saw a 19.3% YoY increase in net profit, reaching ₹159.7 crore for the January-March FY24 quarter. The net interest income for the quarter rose by 31.8% YoY to ₹540 crore. The bank’s asset quality improved significantly, with the gross NPA dropping 53 bps sequentially to 2.51% and the net NPA decreasing 16 bps QoQ to 0.03 percent.

SBFC Finance: This financial services institution recorded a net profit of ₹73.4 crore for the March FY24 quarter, a 71.7 percent increase from the same period in the previous fiscal year. The company's revenue from operations for the quarter grew by 34.3 percent year over year, amounting to ₹278.8 crore.