Q2 Result 2024 Live Updates: ITC, Adani Wilmar, Patanjali Foods, Castrol India, GMR Airports, others releasing Q2 report today – Industry News

Angshu Mallick, MD & CEO, Adani Wilmar Limited, said, “The Company’s revenue grew by 18% YoY to Rs 14,460 crore. We have delivered another strong quarter, with double digit growth in both edible oils and Food & FMCG segments. The edible oils revenue grew by 21% YoY and the Food & FMCG revenue grew by 34% YoY. The stability in edible oil prices augurs well for our business, allowing us to deliver strong profits over the past four quarters.”

“In H1’25, we achieved our highest-ever half-year operating EBITDA of Rs 1,232 crore and PAT of Rs 624 crore. We have been the 2nd and 3rd largest player in the Wheat flour and Basmati Rice business respectively. Our other food products like pulses, besan, soya chunks, poha has also been growing in strong double digit and they in aggregate have now reached Rs 1,500 crore on LTM basis. Our overall Food & FMCG business has crossed Rs 5,800 crore on LTM basis and we stay committed to build a very large packaged food business in India,” he added.

The company board also declared the third interim dividend of Re 0.50 (50 per cent) per equity share of face value of Re 1 each for the financial year 2024-25 and have fixed Monday, November 04, 2024 as the ‘Record Date’ for determining the shareholders who will be entitled to the said Dividend.

Gross loan book at Rs 30,344 crore; up 14% YoY

Secured book at 34.9% as of Sep’24

Disbursements at Rs 5,376 crore; down 6% YoY

Deposits at Rs 34,070 crore; up 17% YoY

CASA at Rs 8,832 crore; up 26% (YoY)

Ajay Kapur, Whole Time Director & CEO, ACC Ltd, said, “Our performance in Q2 reinforces our standing as a frontrunner in the cement industry. Our financial results this quarter – fuelled by higher volumes, cost optimization, increasing efficiencies, and agility – build the momentum for our growth strategy for FY’25 and beyond. Our growth is being driven by robust demand for high-quality cement products across all markets, as well as our continuous efforts to optimise operations and lead on all ESG parameters. Our leadership status is highlighted in our drive for operational excellence supported by innovation, sustainability, and a customer-centric approach. We continue to deliver strong value for our stakeholders as we aim for sustained profitability through our competitive advantage.”

Arun Kumar, Founder & Executive Chairperson, and Badree Komandur, MD & Group CEO, said, “We continue to deliver on the momentum built over several preceding quarters and delivered another strong quarter. Q2FY25 demonstrated sustained growth across all markets fueled by new product launches. US operations reported the highest ever quarterly revenue of $75m in Q2FY25. Strong YoY improvement in absolute EBITDA and EBITDA margin reflects our continued focus on operational efficiency and profitability.”

Prabha Narasimhan, Managing Director & CEO, Colgate-Palmolive (India) Limited, said, “We are pleased with the robust, consistent topline performance in a tough operating environment. This has been led by broad-based growth across portfolios. Toothpaste achieved high-single digit volume growth on the back of our core brands- Colgate Maxfresh and Colgate Strong Teeth. Toothbrush continued to grow at double digits with rapid premiumisation. We expect continued difficult market conditions but remain committed to leverage our very strong P&L which allows us to continue to invest behind superior products and advertising while we maintain our focus on ensuring better oral health for everyone in India.”

Colgate-Palmolive (India) Ltd on Thursday reported its fiscal second quarter earnings with profit at Rs 395.05 crore, up 16.2 per cent in comparison to Rs 340.05 crore during the corresponding quarter of FY24, missing estimates. It posted revenue from operations at Rs 1619.11 crore, up 10.1 per cent as against Rs 1471.09 crore during the same period of previous financial year. The company EBITDA stood at Rs 497 crore.

According to a CNBC TV18 poll, Colgate-Palmolive was expected to report Q2 profit at Rs 396 crore and revenue for the quarter in review was estimated at Rs 1625 crore.

InCred Equities said, “SBI Life Insurance Company reported ~3.5% yoy decline in the value of new business (VNB) to Rs 14.4 bn whereas the APE grew by ~3.1% yoy to Rs 53.9 bn in 2QFY25. Management attributed the slowdown to the high base of last year, but the share of banks (especially State Bank of India or SBI) continues to witness a decline on individual new business premium basis to ~58% against ~65% last year & ~59% last quarter. SBI is shifting the insurance sourcing towards its digital platform (YONO), which also impacted on the growth temporarily during the quarter. ULIPs continued to retain their dominance in the overall portfolio mix, with a share of ~63% of APE, while the share of protection plans remained sluggish at ~9% of APE.”

As FMCG giant ITC Ltd is all set to announce its Q2 earnings today, Axis Securities said that the company is expected to report a revenue growth of 7 per cent, with cigarette category expected to grow 6 per cent YoY (2 per cent volume), FMCG estimated to grow at 7 per cent YoY, hotels 10 per cent YoY, papers (decline) and agri to grow 15 per cent. The analysis report further said that EBITDA margins is expected to decline YoY on account of of subdued performance of paper board business. Key monitorables, it added, are demand outlook on rural vs urban, competitive intensity, RM trends, Hotels and Agri business outlook.

According to a CNBC TV18 poll, ITC is expected to report Q2 profit at Rs 5050 crore and revenue for the quarter is estimated at Rs 17,710 crore.

Hina Nagarajan, CEO & Managing Director, said, “It’s a muted quarter amidst a softer than expected demand environment. We remain buoyant entering the festive season on the back of structural tailwinds including the reopening of the business in the state of Andhra Pradesh after a near 5-year gap. This reinforces our faith in the overall health and long-term fundamentals of the spirits industry & business in India. Our key focus remains on executional excellence to deliver sustained profitable growth, while maintaining the long-term competitiveness of our portfolio.”

Dr Azad Moopen, Founder and Chairman, Aster DM Healthcare, said, “We are pleased with the momentum built in the second quarter of FY25, which reflects our unwavering focus on operational excellence and capacity enhancement. In H1 FY25, our India business achieved 18% YoY growth, reaching Rs 2,088 crore, driven by increased occupancy and growth in ARPOB. The Operating EBITDA grew by 44% YoY to Rs 410 crore and net profits (post NCI) grew by 88% YoY to Rs 171 crore in H1 FY25. The steady growth across our core businesses, combined with strategic cost optimization, has significantly strengthened our margins with H1FY25 Operating EBITDA margins standing at 19.6%.”

He also talked about the company’s plans to surpass approximately 6,800 beds by FY27.

An analysis report by Centrum Broking said, “Given slowdown in urban consumption along with gradual recovery in rural lead to muted Q2. Home Care and Beauty & Wellbeing (60% of business) grew HSD backed by mid-to-high single digit volume growth, while Personal care and F&R declined by 5%/1.4% YoY. Rising competitive intensity in alternate channel and promotion activity in GT cut down gross margins to 51.0% (-169bp). Despite lower ad-spends (-14.9%), higher other expenses/staff cost +5.5%/+8.1% cut EBITDA by 1.3%, settling the EBITDA margin at 23.5% (-66bp) YoY. Considering the pace of inflation, HUVR expects low-single digit pricing growth in H2FY25. We expect margins improvement to be led by premium mix, judicious price hikes and operating leverage despite increase in media spends. We remain cautiously optimistic expecting LSD volume growth as near term operating environment continues to be competitive. Further to sharpen focus on core business, HUVR decided to separate Ice Cream business.”

With major firms across sectors including Tata Consultancy Services (TCS), HCL Technologies, Infosys, Wipro, Tech Mahindra, Reliance Industries, HUL, Nestle India, Zomato, Paytm, Piramal Pharma, Axis Bank, HDFC Bank, PVR INOX, Bajaj Auto, TVS Motor, Mphasis, Mahindra Logistics, having already released their Q2 numbers, the second earnings season is now in full swing.