Proventus Agrocom Limited (ProV) Reports Strong H1FY26 Results, Brand Revenue of INR 283 crs up 33% YoY

Wholesome Nutrition Based Products Scaling New Heights Building for tomorrow

• Expanded Beyond Core Dry Fruits into Wholesome Nutrition Based Products
• Brand revenue of INR 283 cr up 33% YoY; PAT INR 6.68 cr up 37% YoY; up 164% from H2 FY25
• Expanded beyond core dry fruits into wholesome nutrition-based products
• Brand revenue up 33% YoY to ₹283 cr; nutrition-based products now ~50% of portfolio; poised for margin expansion
• Reaffirms commitment to ₹1000 cr brand revenue target by FY28

Half year ended September 2025 highlights

• Revenue (Consolidated): ₹390 cr, up 32% YoY
• ProV brand revenue sales: ₹283 cr, up 33% YoY
• Gross margins: Improved to ~22.1% in H1 FY26 from 19.8% in FY25
• EBITDA: ₹9.17 cr vs ₹8.16 cr in H1 FY25 (+12%)
• PAT: ₹6.68 cr vs ₹4.87 cr YoY (+37%); vs ₹2.53 cr (+164%) from H2 FY25
• H1 EPS: ₹19.40

Proventus Agrocom Limited (NSE: PROV), one of India’s fastest-growing healthy snacking companies, announced its half-yearly results for H1 FY26, marking a defining phase in its growth journey, with a sharper focus on wholesome nutrition-based products.

The company reported brand revenue of ₹283 crore, up 33% YoY from ₹213 crore in H1 FY25, maintaining strong profitability despite a 2x increase in marketing and brand investments. Gross margins are set to rise to +22% by FY26 year end as the product mix continues shifting toward high-margin and wholesome nutrition-based products.

Redefining the healthy snacking space

Speaking on the results, Mr. Durga Prasad Jhawar, Managing Director, said:
“This marks the beginning — a transformation beyond traditional dry fruits into a full-fledged healthy snacking brand. Our product mix evolution, brand investments, and expanding distribution network are creating a sustainable foundation for scalable and profitable growth. We remain committed to achieving our ₹1000 cr brand milestone by FY28, with gross margins of 30%.”

Key highlights of H1 FY26 performance

Strong growth and brand momentum

• Brand revenue up 33% YoY; monthly run-rate exceeds ₹60 crore
• 12x brand growth in 4 years — on track to reach ₹575–600 crore by FY26 end
• Wholesome nutrition-based products now ~50% of portfolio

Evolving product portfolio

• Introduced 25+ new products — Flavoured Makhana, Healthy Bars, Trail Mixes, Nut Chocolates, Seed Mixes
• Broadened reach across customer categories with premium, modern-age offerings
• Portfolio shift toward high-margin categories, expected to drive sustained profitability

Strengthened channel presence

• Healthy sales mix across General Trade, Modern Trade, E-Commerce & Quick Commerce
• Enhanced visibility through multi-platform advertising, 1,000+ branded autos, targeted promotions, and strategic in-store activations
• Supported by a 350+ strong sales force

GST cut: A game changer

The recent GST reduction on dry fruits and related categories is expected to significantly boost the organized sector, benefiting both ProV and the healthy snacking industry at large.

“The GST rationalization brings affordability and wider accessibility to health-focused snacking — a direct tailwind for ProV’s evolving product portfolio,” added Mr. Deepak Agrawal, Chief Business Officer.

A transformative phase: Sustainable, scalable, and profitable growth

Despite a 2x increase in marketing spends, ProV has shown profitability growth and improved operating efficiency. This underlines its commitment to long-term brand building while ensuring financial discipline.

With deep-rooted distribution, a diversified portfolio, and expanding infrastructure, ProV is well-positioned to capture India’s booming healthy snacking market, estimated to grow at a double-digit CAGR over the next decade.

“We are not only growing — we are evolving. Our focus is on building a consumer-first brand that delivers both taste and nutrition, creating long-term value for consumers, partners, and stakeholders,” said Mr. Jhawar.

About Proventus Agrocom Limited (ProV)

ProV is an integrated health-food brand with a diversified portfolio spanning dry fruits, nuts, seeds, berries, and healthy snacks. Its “farm-to-homes” model ensures end-to-end control — from sourcing to distribution — delivering premium, nutritious products to millions of households.
The brand operates across General Trade, Modern Trade, E-Commerce, and Q-Commerce.
Corporate Identification Number: U74999MH2015PLC269390.

Safe harbour

This document may contain certain forward-looking statements, which are tentative, based on current expectations of the management of Proventus Agrocom Limited or any of its subsidiaries and associate companies (“ProV”). The results in future may vary significantly from the forward-looking statements contained in this document due to various risks and uncertainties. These risks and uncertainties include, inter alia, the effect of economic and political conditions in India and outside India, volatility in interest rates and in the securities market, new regulations and Government policies that may impact the businesses of Proventus Agrocom Limited as well as its ability to implement the strategy. Proventus Agrocom Limited does not undertake any obligation to update these statements. This document is for information purposes only and any action taken by any person on the basis of the information contained herein is that person’s responsibility alone and Proventus Agrocom Limited or its directors or employees will not be liable in any manner for the consequences of such actions. The company regularly posts all important information at its website www.proventusagro.com

Jio Financial Services Limited Q2 FY26 Consolidated Total Income at Rs. 1,002 crore, up 44% YoY

The Board of Directors of Jio Financial Services Limited (“JFSL”, also referred to as the “Company”), at its meeting held in Mumbai today, approved the unaudited f inancial results for the second quarter of financial year 2025-26, ended September 30, 2025 (Q2 FY26).

Consolidated financial highlights for the quarter ended September 30, 2025, were as follows:

• Net Income from Business at 52% of Consolidated Net Total Income (ex-dividend), up from 14% in Q2 FY25
• NBFC AUM: ₹14,712 crore (vs ₹1,206 crore in Q2 FY25)
• AMC AUM: ₹15,980 crore; maiden flexi cap fund NFO raised ~₹1,500 crore
• Pre-Provisioning Operating Profit: ₹579 crore (vs ₹552 crore in Q2 FY25)
• Profit After Tax: ₹695 crore (vs ₹689 crore in Q2 FY25)

Products and Distribution

• 18 million unique users across JioFinance digital platforms (16 months since launch)
• Jio Credit Limited (NBFC): 12× YoY AUM growth; 14 cities, 15 offices
• Jio Payments Bank:
  • Launched Savings Pro for auto-investing idle funds
  • Entered toll processing with 12 plazas (11 operational)
  • 200,000 Business Correspondents (vs 2,307 in Q2 FY25)
  • Customer base: 2.95 million; deposits: ₹421 crore (~2× YoY)
• Jio Payment Solutions: TPV at ₹13,566 crore, up 167% YoY; launched tap & pay with Mastercard
• Jio Insurance Broking: ₹347 crore in premiums; 2.9 lakh policies issued; 100+ cities across 6 states
• Jio BlackRock AMC:
  • Launched 6 funds, including AI-powered active equity fund
  • Flexi Cap Fund raised ~₹1,500 crore
  • Client base: 150+ institutional, 635,000+ retail investors

Technology

• All entities operate data lakes powering live ML models for personalized targeting
• Developing intelligent, contextual architecture for real-time product delivery

CEO Statement

The significant growth in business income is a direct result of the initiatives taken over the last few quarters towards scaling up profitably, by pursuing a risk-calibrated growth strategy. Our expanding user base is a validation of the enthusiasm with which our offerings have been met in the market. As we design financial services of the future for all Indians, we are actively leveraging next-gen AI and analytics to position JioFinance as a trusted, intelligent, and simplified digital platform that delivers personalised, and fit-for-purpose products to each individual customer. The results of these efforts would become more pronounced over the coming quarters.” — Hitesh Sethia, MD & CEO

About Jio Financial Services Limited

• Core Investment Company registered with RBI
• Operates full-stack financial services via subsidiaries:
  • Jio Credit Limited
  • Jio Insurance Broking Limited
  • Jio Payment Solutions Limited
  • Jio Leasing Services Limited
  • Jio Finance Platform and Service Limited
  • Jio Payments Bank Limited
• JV with BlackRock for asset and wealth management
• JV with Allianz for reinsurance (pending approvals)
• Digital-first model via JioFinance app: loans, savings, UPI, insurance, financial tools

Laborate's Aqualab’s Direct-to-Retail Model Scales Fast: ₹100 Cr Achieved, ₹250 Cr in Sight

Aqualab, the Direct-to-Retail division of Laborate Pharmaceuticals India Ltd, has crossed the ₹100 crore revenue mark within three years of launch and now expects to touch ₹250 crore by FY 25–26. The growth has been driven by an expanding portfolio of over 800 SKUs and a network of 500+ retail stockists, with Tier-II and Tier-III markets contributing a rising share of sales.

Since its inception in 2022, the division has reported consistent year-on-year growth, moving from ₹76 crore in FY 2022–23 to ₹108 crore in FY 2023–24, Aqualab has focused on ensuring affordability and last-mile access, enabling its medicines to reach smaller towns alongside metropolitan centres.

“Crossing ₹100 crore in three years demonstrates how quickly the Direct-to-Retail model is scaling in India. We are now targeting ₹250 crore by FY 25–26, with non-metro markets expected to contribute 42% of incremental growth. Expanding therapeutic categories and strengthening last-mile delivery will remain our key focus areas,” said Arpit Bhatia, Managing Director, Laborate Pharmaceuticals.

Aqualab’s rise is in step with national priorities such as Make in India and the government’s PLI push to boost domestic pharma manufacturing. The retail pharmacy market, pegged at ₹18,700 crore in FY24, is projected to touch ₹31,200 crore by FY32, growing at a CAGR of 6.6% on the back of stronger generic penetration, greater health awareness, and organised distribution. Leveraging this momentum, Aqualab is preparing to expand into new categories, add facilities, adopt digital channels, and explore exports, consolidating its position in India’s retail pharma landscape.

Laborate’s WHO, GMP, and EU GMP-certified facilities have provided Aqualab with the infrastructure to scale rapidly while maintaining international quality standards. The company operates modern plants with advanced manufacturing and quality control systems, enabling compliance with stringent benchmarks. This foundation has not only supported Aqualab’s domestic expansion but also positions the division for potential export opportunities in the future.

About Laborate Pharmaceuticals

Founded in 1985, Laborate 1 is one of the leading pharmaceutical companies in India, with capabilities in manufacturing, R&D, and global distribution. The company provides pharmaceutical products in therapeutic categories that include CVS, Diabetics, Pain Management, CNS, and other general categories, and has presence in 55 countries worldwide.

Laborate’s facilities are cGMP compliant with several regulatory agencies including WHO-GMP, and now EU-GMP compliance. With innovation, quality, and affordability as the cornerstones of its strategy, Laborate is able to provide drugs in both branded and contract manufacturing capacities, to its clients

UGRO Capital Reports ₹421.8 Cr Income in Q1 FY26; PAT Up 12%, AUM Crosses ₹12,000 Cr

• AUM of INR 12,081 Cr, up 31% YoY
• Total Income stood at INR 421.8 Cr in Q1’FY26, up 40% YoY
• Net Total Income at INR 216.5 Cr, up 31% YoY
• GNPA/NNPA at 2.5%/1.7% on total AUM
• Embedded Finance Growth: Reached INR 1,011 Cr AUM with INR 582 Cr disbursed in Q1’FY26 through MSL platform
• Emerging Market Business Growth: Reached INR 2,772 Cr AUM with 309 branches operational; ~346 branches to be operational by Sep’25
• CRAR at 22.4%, provides strong capital headroom above the regulatory minimum, supporting calibrated growth
• Strategic actions: Profectus Capital acquisition (INR 1,400 Cr, all-cash) advancing; INR 381 Cr rights issue completed and INR 911 Cr preferential issue in process

UGRO Capital Limited (“UGRO” or “the Company”), a DataTech NBFC focused on MSME lending, announced its financial performance for the quarter ended June 30, 2025 (Q1’FY26). The Company sustained healthy year-on-year growth and a stable risk profile, while reinforcing structural growth engines of branch expansion in Emerging Markets, scale in Embedded Finance, and progress on the Profectus Capital acquisition and ongoing equity raise. Continuing its journey toward becoming the largest small business financing institution driven by data and technology, the Company reported Assets Under Management (AUM) of INR 12,081 crore as of June 30, 2025, reflecting a 31% YoY growth.

The Emerging Market Business continued to scale with 309 operational branches and a path to ~346 branches by September 2025, supported by improving branch-vintage profitability. The Embedded Finance platform crossed INR 1,000 Cr AUM; Q1 disbursements were INR 582 Cr, with strong contributions from partners such as PhonePe and BharatPe. In parallel, the Company advanced the INR 1,400 Cr all-cash acquisition of Profectus Capital (shareholder approval received; change-of-control and allied approvals in process) and continued its capital raise programme (INR 381 Cr rights issue completed; INR 911 Cr preferential issue in progress), further strengthening the balance sheet for quality growth.

UGRO Capital continued to diversify liabilities and improve the cost of funds during the quarter. Total debt stood at INR 7,586 Cr as of June 30, 2025, with CRAR at 22.4%, and the off-book share at 42% supported by co-lending and direct assignment flows. The partner ecosystem remains deep and data linked with 17 Co-lending partners, 50+ lenders and 770+ GRO partners and Green anchor partners, enabling tailored credit for over 2 lakh MSMEs across India.

In terms of financials, Total Income for Q1’FY26 stood at INR 421.8 Cr, up 40% YoY and 2% QoQ; Net Total Income was INR 216.5 Cr, up 31% YoY and PAT was INR 34.1 Cr, up 12% (YoY). Portfolio quality remained stable with GNPA/NNPA at 2.5%/1.7% on total AUM.

UGRO reported Disbursement of INR 1,599 Cr in Q1’FY26. First Quarter of any Financial Year is seasonally softer, and by design, the Company prioritized discipline over pace. Underwriting filters were tightened particularly on borrower leverage resulting in calibrated originations. Draft co-lending guidelines issued in April weighed on volumes temporarily; the effect was cushioned by higher direct assignments and continued liability diversification. With the Emerging Market network nearing full rollout and embedded-finance funnels strengthening, momentum is expected to improve from Q2 while keeping asset quality at the center.

Speaking on the performance, Mr. Shachindra Nath, Founder and Managing Director of UGRO Capital, said, “Q1 was a quarter of discipline. In line with our risk guardrails, we tightened underwriting and moderated originations wherever borrower leverage was elevated. Even so, the portfolio remained resilient across our nine focus sectors, and we delivered 31% YoY AUM growth with stable asset quality. We stayed focused on building our next engines of Emerging Market distribution, Embedded Finance partnerships and the Profectus acquisition. With capital actions underway and approvals progressing, we are well placed for the next phase of high-quality growth. While the industry is seeing relatively higher stress in unsecured segments, UGRO’s exposure there is limited and ring-fenced; our book is predominantly secured, and our filters are sharper than before. As seasonal effects fade and partner funnels ramp up, we expect growth to pick up while staying firmly disciplined on unit economics."

About UGRO Capital Ltd (NSE: UGROCAP I BSE: 511742)

UGRO Capital Limited is a DataTech Lending platform, listed on NSE and BSE, pursuing its mission of “Solving the Unsolved” for the small business credit gap in India, on the back of its formidable distribution reach and its Data-tech approach.

The Company’s prowess in Data Analytics and strong Technology architecture allows for customized sourcing platforms for each sourcing channel. GRO Plus module which has uberized intermediated sourcing, GRO Chain, a supply chain financing platform with automated end-to-end approval and flow of invoices, GRO Xstream platform for co-lending, an upstream and downstream integration with fintechs and liability providers, and GRO X application to deliver embedded financing option to MSMEs.

The credit scoring model GRO Score (3.0) a statistical framework using AI / ML driven statistical model to risk rank customers is revolutionizing the MSME credit by providing on-tap financing like consumer financing in India.

UGRO has executed Co-lending model in India which is prevalent in the West through Co-Lending relationships with total of 17 Banks and NBFCs and built a sizeable off-balance sheet asset of 42% of its AUM through its Co-lending and Co-originating partners and GRO Xstream platform.

The Company is backed by marquee institutional investors (raised INR 900+ Cr of equity capital in 2018, INR ~340 Cr in 2023, INR ~258 Cr in 2024 and INR ~1300 in 2025). For more information, please visit: http://www.ugrocapital.com

Tata Motors Q1 FY26: Profit Drops 30% as JLR Tariffs and Volume Declines Pressure Margins

Tata Motors Ltd. (TML) reported a subdued start to FY26, with consolidated net profit plunging 30% year-on-year to ₹3,924 crore for the quarter ended June 30. The decline was driven by volume contraction across all business segments and a sharp drop in profitability at Jaguar Land Rover (JLR), which faced headwinds from newly imposed U.S. trade tariffs.

Financial Snapshot

• Revenue: ₹1,04,407 crore (↓ 2.5% YoY)
• EBITDA: ₹9,724 crore (↓ 35.8%)
• EBITDA Margin: 9.3% (↓ 480 bps)
• EBIT: ₹4,500 crore (↓ ₹4,100 crore)
• PBT (before exceptional items): ₹5,617 crore (↓ ₹3,232 crore)
• Auto Free Cash Flow: ₹-12,300 crore (↓ ₹13,000 crore)

Despite the earnings pressure, Group CFO PB Balaji emphasized that the quarter remained profitable, citing strong fundamentals and a sharp reduction in finance costs, which fell by ₹533 crore to ₹938 crore.

Segment Performance

Jaguar Land Rover (JLR)

• Revenue: £6.6 billion (↓ 9.2%)
• EBIT Margin: 4.0% (↓ 490 bps)
• Challenges: A 27.5% U.S. tariff on UK/EU-made vehicles and the phase-out of legacy Jaguar models
• Relief Ahead: New UK-US and EU-US trade deals are expected to reduce tariffs to 10% and 15%, respectively

JLR CEO Adrian Mardell reaffirmed the brand’s commitment to its “Reimagine” strategy, with £3.8 billion earmarked for FY26 investments in next-gen EVs, including the electric Range Rover and Jaguar models.

Commercial Vehicles (CV)

• Revenue: ₹17,009 crore (↓ 4.7%)
• EBITDA Margin: 12.2% (↑ 60 bps)
• Outlook: Expected recovery driven by monsoon normalization, infrastructure activity, and easing interest rates

Passenger Vehicles (PV)

• Revenue: ₹10,877 crore (↓ 8.2%)
• EBIT Margin: -2.8% (↓ 310 bps)
• EV Momentum: Despite industry softness, EVs remained a bright spot with strong customer interest and new launches

PV volumes declined 10.1% to 1,24,800 units, impacted by model transitions for Altroz, Harrier, and Safari. MD Shailesh Chandra noted that upcoming hatchbacks and SUVs will help strengthen the portfolio in H2.

Strategic Moves

Demerger Update

The final hearing for Tata Motors’ demerger scheme has concluded, with October 1, 2025 targeted as the effective date. The move aims to streamline operations and unlock shareholder value.

Iveco Acquisition

TML announced plans to acquire 100% of Iveco Group NV (excluding Defence) for €3.8 billion, subject to regulatory approvals. The acquisition is expected to close in H1 FY26 and will expand Tata’s global footprint in commercial mobility.

Outlook

While macroeconomic headwinds persist, Tata Motors remains cautiously optimistic. The company aims to:

• Leverage festive demand and tariff clarity
• Accelerate EV adoption
• Improve contribution margins through better product mix and cost controls

PB Balaji summed up the quarter: “Despite stiff macro headwinds, we delivered a profitable quarter backed by strong fundamentals. We’re focused on rebuilding momentum across our portfolio.”

Aimtron Electronics Posts 222% Surge in Open Orders Fueled by AI, IoT, and Green Energy Demand

Aimtron Electronics Ltd, one of the leading Electronics System Design and Manufacturing (ESDM) solutions companies, saw a significant surge of 222% YoY in open order book to INR 419.50 crore. The company’s Total Revenue also witnessed a huge jump of 85% to approximately INR 43.30 crore in Q1FY 25-26 as compared to INR 23.26 crore in Q1FY24-25.

Of the total new orders that Aimtron received, 80% came from domestic and 20% from exports. These orders are broken down by type as 63% Box-Build, 35% PCBA, and 2% Design. The growth was driven by robust demand across the Network Security, Green energy, Industrial, IoT, and AI sectors with key ODM and box build projects being the primary drivers of this performance.

Among other strategic and operational milestones, Aimtron successfully completed Stage I of the AS9100 audit, with Stage II scheduled for August 2025. This certification is crucial for securing high-value aerospace and defence contracts. A new SMT line will integrate advanced AI-powered inspection capabilities to enhance efficiency.

Aimtron also launched a greenfield expansion adjacent to the Vadodara plant for long-term growth. This strategic location leverages local logistics, talent, and Gujarat's favourable industrial policies and the new capacity will aid incremental capacity for future growth. Certified facilities in Vadodara and Bengaluru boast five SMT lines and five box build lines with operations being governed by top-tier certifications, including ISO 13485, ISO 14001, ISO 9001, and IATF 16949.

Recent successful fund raise of preferential shares through warrants (awaiting shareholder approval at ensuing extra ordinary general meeting and in principle approval from NSE)

• The company recently received tremendous response to its preferential fund raise through the warrants route. The fund raise was to the tune of approximately Rs 98.50 crore raising approximately 14,47,188 warrants at Rs 680.64 per share and will be used for growth capital.
• Nearly 69 investors participated in this fund raise of which the promoters and its employees participated to the extent of approximately 18.5% of the fund raise, over and above external investors.

Chairman's Message

Chairman Mukesh Jeram Vasani noted:

Our strong growth trajectory underscores Aimtron’s strategic vision, operational strength, and dedication to meeting complex global needs with agility and unparalleled precision. Our growing order book, the strong growth being portrayed in our revenue growth and the planned capacity expansion are all aimed towards achieving our targeted growth for FY26 and beyond. We also thank all investors who showed tremendous response to our fund raise trusting our ability to.

About Aimtron Electronics Limited

Founded in 2011, Aimtron Electronics provides EMS, PCB assembly, box-build, and design services. With facilities in Vadodara, Ahmedabad, and Bengaluru, and a parent company headquartered in Chicago, USA, Aimtron serves customers across the automotive, medtech, aerospace, industrial, power, gaming, IoT, and robotics sectors. Guided by the philosophy of “Tomorrow, Today”, Aimtron helps shape the technological future of the world. The company’s vision is to enrich society globally through innovative technology.

Delhivery Q1 FY26: PAT Surges 67% YoY; Revenue Up 6% to ₹2,294 Cr

Delhivery Limited (NSE: DELHIVERY, BOM: 543529) announced Q1 FY26 results today.

Q1 FY26 results snapshot:

• Revenue from services of Rs. 2,294 Cr in Q1 FY26, growth of 6% YoY vs Rs. 2,172 Cr in Q1 FY25
• EBITDA of Rs. 149 Cr (6.5% margin) in Q1 FY26, a growth of 53% YoY from Rs. 97 Cr (4.5% margin) in Q1 FY25
• Profit after tax of Rs. 91 Cr (3.8% margin) in Q1 FY26, a growth of 67% YoY from Rs. 54 Cr (2.4% margin) in Q1 FY25

Businesses snapshot: Express Parcel

• Shipment volumes of 208 million in Q1 FY26 - significant growth of 14% YoY from 183 million in Q1 FY25; momentum continuing into Q2
• Revenue grew 10% YoY to Rs. 1,403 Cr in Q1 FY26 from Rs. 1,276 Cr in Q1 FY25

Part Truck Load

• Tonnage grew 15% YoY to 458K MT in Q1 FY26 from 399K MT in Q1 FY25
• Revenue grew 17% YoY to Rs. 508 Cr in Q1 FY26 from Rs. 435 Cr in Q1 FY25
• Service EBITDA margin expanded significantly to 10.7%, an increase of 750 bps YoY from 3.2% in Q1 FY25

Other businesses

• Supply Chain Services: Revenue for the quarter was Rs. 205 Cr in Q1 FY26 vs. Rs. 259 Cr in Q1 FY25
• Truckload: Revenue for the quarter was Rs. 148 Cr in Q1 FY26 vs. Rs. 156 Cr in Q1 FY25
• Cross Border Services: Revenue for the quarter was Rs. 24 Cr in Q1 FY26 vs. Rs. 43 Cr in Q1 FY25.

New initiatives

• Rapid: 20 active stores in 3 cities; monthly revenue run-rate of Rs. ~1.2 Cr; plan to expand the active store count to 40 by the end of FY26
• Direct: Active in Ahmedabad, NCR and Bengaluru; promising early traction

Sahil Barua, MD & CEO of Delhivery 

“We’re pleased with the strong start to the financial year. The improved profitability as a result of operating at a higher scale reaffirms the inherent operating leverage linked efficiencies in our business. We look forward to the upcoming festive sale season with optimism.”, said Sahil Barua, MD & Chief Executive Officer.

Delhivery will host its earnings call to discuss Q1 FY26 results at 6:00 PM IST on Friday, August 1 st, 2025. The registration link for the call has already been shared with the stock exchanges and the link to the audio replay will be made available on the Investor Relations page of the company’s website at https://www.delhivery.com/company/investor-relations following the earnings call.

About Delhivery

Delhivery is India's largest fully-integrated logistics services provider. With its nationwide network covering over 18,850 pin codes, the company provides a wide range of logistics services such as express parcel transportation, PTL freight, TL freight, cross-border, supply chain, and technology services. Delhivery has successfully fulfilled over 3.8 billion shipments since inception and today works with over 43K+ customers, including large & small e-commerce participants, SMEs, and other enterprises & brands. For more information about Delhivery, please visit www.delhivery.com.

L&T Finance Posts Rs. 701 Cr PAT in Q1 FY26; Retail Book Hits ₹99,816 Cr, Exceeds Lakshya 2026 Goal

• Retail Disbursements at Rs. 17,522 Crore, up 18% YoY, for the first quarter ended June 30, 2025
• The first quarter ended June 30, 2025, witnessed successful integration of the acquired Gold Loan portfolio and roll out of ‘Project Cyclops’ in SME Finance

L&T Finance Ltd. (LTF), one of the leading Non-Banking Financial Companies (NBFCs) in India has recorded consolidated Profit After Tax (PAT) of Rs. 701 Crore, up 10% QoQ and 2% YoY for the first quarter ended June 30, 2025. During the quarter, LTF achieved a milestone of highest-ever consolidated book of Rs. 1,02,314 Crore, up 15% YoY. The retail book size during the quarter reached Rs. 99,816 Crore, up 18% YoY. The Company has recorded quarterly retail disbursement of Rs. 17,522 Crore for the first quarter ended June 30, 2025, up 18% YoY. Retailisation stood at 98% for the quarter ended June 30, 2025, exceeding Lakshya 2026 target.

Debut Investment Grade Credit Rating has been assigned to LTF by international rating agencies (S&P Global Ratings and Fitch Ratings). S&P Global Ratings has assigned LTF “BBB-” long-term and “A-3” short-term issuer credit rating. The outlook on the long-term rating is Positive. Fitch Ratings has assigned LTF long-term foreign and local currency Issuer Default Ratings (IDR) of “BBB-” with a Stable outlook. These long-term ratings are investment grade and are at par with India’s Sovereign Credit Rating. This will enable the Company to tap global capital markets and further diversify its liability franchise and deepen investor base.

‘Project Cyclops’, in-house developed proprietary credit underwriting engine by LTF, has been rolled-out for SME Finance and its advanced version is implemented in Two-wheeler Finance.

The Company’s customer-facing PLANET app, which has emerged as a powerful digital channel for customers, crossed more than 1.86 Crore downloads as on date, comprising more than 16.7 Lakh downloads on the rural side. As of date, this channel has done collections of over Rs. 4,800 Crore while servicing around 7.85 Crore requests and has sourced loans of over Rs. 15,500 Crore. The Company has launched a revamped customer-centric website and the next-generation PLANET 3.0.

Commenting on the financial results, Mr. Sudipta Roy, Managing Director & CEO, LTF said, “In a challenging quarter, our Company remained focused on outcomes and achieved a resilient performance while showcasing our ability to manage market headwinds. This performance is on the back of our commitment to sourcing creditworthy customers backed by technology and robust credit guardrails, while keeping a strong focus on collection efficiency across businesses. Our impetus remains on risk calibrated business growth with a sharp focus on a strong asset quality, laying the foundation for a sustainable and predictable growth going forward.

In the quarter, we achieved the highest-ever consolidated book of over Rs. 1 Lakh Crore milestone and added a secured high yield product to our loan portfolio i.e., Gold Loan. Our company has been assigned a debut investment grade credit rating of “BBB-/Positive” by S&P Global Ratings and “BBB-/Stable” by Fitch Ratings. This rating will serve as a foundation for further diversifying our liability franchise by accessing financing opportunities across the global capital markets. Our AI-driven next-gen digital credit engine, ‘Project Cyclops’ is starting to yield early dividends in our Two-wheeler finance business, and during the quarter, ‘Project Cyclops’ was scaled up in Farm business and launched in the SME finance business. We remain focused on continuously strengthening our risk and credit frameworks, which will serve us well in times to come.”

Key Highlights:

Robust Retail Franchise:

The Company’s granular and deep pan-India Retail franchise is led by its strong distribution capabilities namely, its geographic presence in around 2 Lakh villages from around 2,089 rural meeting
centers/branches and 407 branches across urban centers. This extensive geographic presence is also supported by over 13,000 distribution points built over a decade. The Company also leverages
over 2.6 Crore of its customer database to drive a credible cross-sell and up-sell franchise contributing 35% of the Company’s repeat disbursements share in value and 49% in count during Q1FY26.
Building a diversified retail franchise:

Rural Business Finance:

• Q1FY26 disbursements at Rs. 5,618 Crore vs. Rs. 5,773 Crore, down 3% YoY
• Book size at Rs. 26,616 Crore vs. Rs. 25,887 Crore, up 3% YoY

Farmer Finance:

• Q1FY26 disbursements at Rs. 2,200 Crore vs. Rs. 1,903 Crore, up 16% YoY
• Book size at Rs. 15,756 Crore vs. Rs. 14,204 Crore, up 11% YoY

Two-wheeler Finance:

• Q1FY26 disbursements at Rs. 2,128 Crore vs. Rs. 2,621 Crore, down 19% YoY
• Book size at Rs. 12,331 Crore vs. Rs. 12,025 Crore, up 3% YoY

Personal Loans:

• Q1FY26 disbursements at Rs. 1,942 Crore vs. Rs. 1,178 Crore, up 65% YoY
• Book size at Rs. 9,383 Crore vs. Rs. 6,667 Crore, up 41% YoY

Housing Loans and Loans Against Property:

• Q1FY26 disbursements at Rs. 2,780 Crore vs. Rs. 2,245 Crore, up 24% YoY
• Book size at Rs. 26,464 Crore vs. Rs. 19,961 Crore, up 33% YoY

SME Finance:

• Q1FY26 disbursements at Rs. 1,273 Crore vs. Rs. 978 Crore, up 30% YoY
• Book size at Rs. 6,964 Crore vs. Rs. 4,471 Crore, up 56% YoY
• During the quarter, LTF launched a Business Loan campaign with the tagline, ‘Aapke Business Ka Game Changer’ featuring Indian cricketer Jasprit Bumrah. The campaign highlighted how the Business Loan is offered through a digital application process for quick and efficient funding, it has a rapid disbursal providing timely capital, and an app-based withdrawal facility offering flexible cash flow management.

Nazara Achieves All-Time High EBITDA of ₹153.5 Cr on Revenues of ₹1,624 Cr in FY25, Strengthens Core Gaming Focus

Nazara Technologies Limited reported its highest ever annual EBITDA of INR 153.5 crores in FY25 on revenues of INR 1,624 crores, with its core gaming business delivering a healthy 19.9% EBITDA margin and overall EBITDA margins of 9.4%.
This performance reflects the strength of Nazara’s diversified portfolio, disciplined execution, and focused pivot toward high-margin gaming segments. PAT from continued operations was INR 62.5 crores and pre-tax Operating Cash Flow came in at INR 118.3 crores, underscoring the company’s strong cash generation and prudent financial management.

In Q4 FY25, Nazara posted revenue of INR 520.2 crores up 95% year-on-year and EBITDA of INR 51.0 crores, a 74% increase. Growth was driven by solid momentum in the core gaming portfolio, particularly Fusebox and Animal Jam, along with improved unit economics in Kiddopia. Margins remained resilient despite elevated user acquisition investments and new IP integrations.

Key FY25 Strategic Highlights:

• Expanded into narrative mobile gaming through the acquisition of Fusebox Games
• Entered offline entertainment by acquiring Funky Monkeys and Smaaash, creating a 360° gaming ecosystem
• Took full ownership of Kiddopia and Sportskeeda, enabling fungible cash flows and faster integration
• Made its largest investment to date in PokerBaazi, reinforcing leadership in skill-based real money gaming
• Licensed and integrated global IPs like C.A.T.S. and King of Thieves, enhancing long-term cash flow visibility

The company also operationalized its Centers of Excellence in User Acquisition, Analytics, and AI, embedding cross-group efficiencies and unlocking organic scale. FY26 is expected to mark a step-change, with rising contribution from high-margin gaming verticals set to further boost profitability and drive global expansion.

Nitish Mittersain, Jt. Managing Director & CEO, commented: “FY25 has been a pivotal year in Nazara’s journey—marked by record profitability, deeper control across key businesses, and the successful execution of our Nazara 3.0 strategy. We strengthened our core by fully owning high-performing assets like Kiddopia and Sportskeeda, expanded globally through acquisitions such as Fusebox and Curve Games, and sharpened our focus on building a high-margin, IP-led gaming platform. As we enter FY26, we are poised for accelerated growth with increasing contributions from our core gaming portfolio. Our platform is now stronger, and more globally relevant with a growing presence across North America and Europe, strategic global partnerships, and recognition among the world’s top gaming publishers. Nazara is not just leading the gaming industry in India—it is steadily establishing itself as a rising force on the global gaming stage.”

RRP Drones Innovation Posts ₹14.09 Crore Revenue in FY25 PAT was at Rs. 6.72 crore

RRP Drones Innovation Pvt. Limited, which develops and designs weather-resistant UAVs, payloads, and software to satisfy the needs of the global unmanned aerial vehicle (UAV) market, has reported ₹14.09 crore turnover for FY25 and PAT of ₹ 6.72 crore. The current order book stands at ₹ 30crore.

Rajendra K Chodankar, Chairman, RRP Drones Innovation Pvt. Ltd. said, “We are delighted to report a good set of numbers in FY25. The consistent expansion of our order book reflects our growing reputation and trust within the industry. As we continue to innovate and expand, we remain committed to contribute to India's defence capabilities.”

Drone-in-a-box, is a very unique technology, by virtue of ToT and exclusivity with Microavia and is a one umbrella solution for Monitoring and execution. The current year will see acquisition with major global players which in turn is expected to add sizable business revenues too.

About RRP Drones Innovations Ltd.:

RRP DRONES develops and designs weather-resistant UAVs, payloads, and software to satisfy the needs of the global UAV market, working with customers and partners.

It has a full-cycle in-house manufacturing process. Components, including hardware, autopilot, UTM, and payloads, and broad integration options for 3rd party products and services.

Drone-in-a-box system (DIB) is designed for manual and autonomous security patrolling and emergency response. The flights could be scheduled and performed regularly including continuous operations, while autonomy is reached by mission planning features in different modes. The system can operate as a network providing larger coverage of the area.

Nazara Reports Highest Ever EBITDA of ₹ 52.4 Cr on Record Revenues of ₹ 534.7 Cr in Q3FY25

Nazara Technologies Limited, a leading diversified gaming and sports media platform, has reported its highest-ever quarterly EBITDA of INR 52.4 crores in Q3FY25, reflecting 39% year-on-year growth. The company announced revenues of INR 534.7 crores and a PAT of 13.7 crores for the same period.

 

Nazara’s core Gaming segment revenues grew by 53%, fuelled by strategic acquisitions including Fusebox Games as well as strong performance by existing games such as Animal Jam.

The recent licensing agreements and upcoming integrations of popular entertainment IPs are further set to enhance user growth and engagement going forward. Kiddopia’s collaboration with Mattel’s Barbie and Moonbug’s Little Angel will strengthen engagement among young audiences, while partnerships with well-known franchises including Big Brother and Bigg Boss will enable the gaming vertical to scale.

Nazara also announced the acquisition of popular gaming IPs CATS: Crash Arena Turbo Stars and King of Thieves. These games will be operated and published by Nazara Technologies Ltd, thereby ensuring revenue and profit from these will accrue directly to the listed entity. We intend to further scale this model in coming quarters

To support its expansion, Nazara is raising INR 495 crores through a preferential equity issue to Axana Estates LLP, led by Arpit Khandelwal and Mithun Sacheti. This capital infusion, combined with Nazara’s strong cash reserves, provides the company with financial flexibility to pursue further acquisitions as well as boost organic growth to drive long-term value creation.

Nitish Mittersain, Jt Managing Director & CEO of Nazara Technologies, commented on the results:

This quarter’s performance reflects our continued focus on execution and growth. By expanding our gaming ecosystem, partnering with globally recognized IPs, and driving high-impact acquisitions, we are well-positioned to establish Nazara as a truly global gaming leader from India

With a strong foundation, a clear strategy, and an experienced leadership team, Nazara is focused on scaling operations, exploring new markets, and enhancing operational efficiencies as it continues its growth journey in the global gaming industry.

About Nazara Technologies-

Nazara is India’s only listed gaming and Esports Company, with majority ownership of several leading gaming and esports brands with presence in India, the US, and other global markets. In esports, Nazara has India’s leading esports platform NODWIN Gaming and Sportskeeda/Pro Football Network in the sports media space. Nazara’s offerings in the interactive gaming segment include gamified early learning ecosystems like Kiddopia and Animal Jam, a leading IP based gaming studio ‘Fusebox’, India’s most popular cricket simulation franchise, World Cricket Championship (WCC), and a wide portfolio of casual games distributed through telco partnerships in many emerging markets.

Nazara also holds significant minority stake in Pokerbaazi, India’s largest online platform. Additionally, Nazara controls Datawrkz, a digital ad tech company supporting its portfolio companies and external clients with demand-side user acquisition and supply-side ad monetization services.

Apple Posted Revenue of $85.8 Bn in June Quarter; Services Revenue Reaches New All-time High

Apple, on Thursday, announced financial results for its fiscal 2024 third quarter ended June 29, 2024.

Revenue: Apple posted quarterly revenue of $85.8 billion, up 5 percent year over year, and quarterly earnings per diluted share of $1.40, up 11 percent year over year.

Earnings per Share (EPS): The company reported $1.40 per diluted share, marking an 11% growth year over year.

Software Updates: During this quarter, Apple unveiled significant updates to its software platforms at the Worldwide Developers Conference. Notably, they introduced Apple Intelligence, a breakthrough personal intelligence system powered by private generative AI models integrated into iPhone, iPad, and Mac.

Active Devices: Apple's installed base of active devices reached an all-time high across all geographic segments, driven by high customer satisfaction and loyalty.

Dividend: The board of directors declared a cash dividend of $0.25 per share, payable on August 15, 2024, to shareholders of record as of August 12, 2024.

These results demonstrate Apple's continued growth and commitment to innovation. If you'd like more details, you can find the full financial statements on Apple's investor relations website.

“Today Apple is reporting a new June quarter revenue record of $85.8 billion, up 5 percent from a year ago,” said Tim Cook, Apple’s CEO. “During the quarter, we were excited to announce incredible updates to our software platforms at our Worldwide Developers Conference, including Apple Intelligence, a breakthrough personal intelligence system that puts powerful, private generative AI models at the core of iPhone, iPad, and Mac. We very much look forward to sharing these tools with our users, and we continue to invest significantly in the innovations that will enrich our customers’ lives, while leading with the values that drive our work.”

Ambuja Cements achieves sustainable performance in Q1 FY’25

Operating EBITDA Rs. 1,280 Cr, PAT Rs. 790 Cr

Operating Cost improved by 3% YoY at Rs. 4,437 PMT

Cash & Cash Equivalent at Rs. 18,299 Cr

• Q1 Operating EBITDA at Rs. 807 PMT, EBITDA margin of 15.4%.
• Quarterly EPS (diluted) at Rs. 2.65.
• Taken lead in ESG, Net Zero commitment by 2050, near-term targets validated by SBTi, first of its kind in the sector.
• Added 275 Mn MT limestone reserves in Q1 FY’25.

Ambuja Cements, the cement and building materials flagship of the diversified Adani Group, has announced sustainable results for Q1 FY’25, supported by cost leadership, improved efficiencies and growth.

Mr. Ajay Kapur, Whole Time Director & CEO, Ambuja Cements, said, “We have delivered another sustainable performance and our focus on innovation, digitisation, customer satisfaction and ESG is at the heart of our success. Our persistent performance sets the tone for the rest of the financial year, as we expand our footprint and capacities across new geographies. Our continued improvement on cost brings visibility of achieving the targeted cost reduction of Rs. 530 PMT by FY’28. With the Penna transaction expected to be closed by Q2 FY’25, our capacity will go to 89 MTPA and well on track to achieve our 140 MTPA plan by FY’28.”

Operational Highlights

• Group synergies continue to facilitate cost reduction journey, complemented by increasing footprint and capacities.
• Green power share at 18.4%, will improve to ~31 % by FY’25 and 60% by FY’28, this will contribute to reduction in overall cost of power by 33%, boosting EBITDA.
• Higher linkage coal volume and improved coal volume from Gare Palma (captive coal mine), has contributed to 17% reduction in Kiln fuel cost (Consolidated) from Rs. 2.08 to 1.73 per ’000 Kcal.
• Integration of recently acquired Tuticorin GU and Penna Cement (under closing) will help to further improve market share, overall profitability and RoCE.

Financial Highlights (Consolidated)

• Higher volume along with improved operational parameters resulted in growth in all business parameters.
• EBITDA PMT @ Rs. 807, EBITDA Margin of 15.4%,
• Net worth increased by Rs. 8,620 Cr during quarter and stands at Rs. 59,465 Cr, company remains debt free & continues to maintain Crisil AAA (stable) / Crisil A1+ ratings.
• The Cash & Cash Equivalent stands at Rs. 18,299 Cr enables accelerated growth in future.
• For Ambuja (consolidated), business level working capital stands at 30 days, reflecting agility in unblocking the funds in inventory and receivables.

Progress on Ongoing Projects

Brownfield expansions at 14 sites for Clinker facility of 11 Mn T and Cement capacity of 23.4 Mn T is progressing well as per plan. Out of this 4 MTPA clinker line 3 at Bhatapara (Chhattisgarh) is expected by Q4 FY’25 and 6.4 MTPA grinding facility (Sankrail 2.4, Farakka 2.4 and Sindri 1.6 MTPA) is expected between Q3 & Q4 FY’25. In addition, pre-operative work for the 28 MTPA grinding facility and 22 MTPA Clinker facility is under progress.

ESG Updates

The Company has launched Digital BRSR (Business Responsibility and Sustainability Reporting) for financial year 2023-24 which is available on the Company’s website - https://www.ambujacement.com/ambuja4-BRSR/. The digital report enables quick overview and ease of information on Company’s ESG Performance in an interactive and interesting manner.

• With Green power projects on track, power cost will be optimised with 60% sourced from green power, EBITDA maximisation & reduction in CO2 footprint.
• Green cement @ >80% of product mix, exemplifying commitment to eco-friendly practices & CO2 footprint minimisation
• Ambuja and ACC created societal values for >4.6 million people by contributing to fields like healthcare, education, employment, and sustainable livelihoods.
• Achieved 11x water positivity (FY’24) for Ambuja Cement, establishing leadership in water governance.
• Reached an impressive 8x plastic negativity (FY’24) for Ambuja Cement through co-processing of plastic waste in cement kiln.
• Pledged to plant 8.3 million trees by 2030, (1.4 million trees planted till FY’24) in line with Adani Group's ambitious plan to plant 100 million trees.
• Ambuja and ACC put together used more than 21 million tonnes of waste derived resources in FY’24 embracing circular economy.

Branding

• Strategic placements of 'Mazbooti ki Misaal' advertisements aired during IPL 2024 and World Cup T20 reaching out to 250M+ audiences.
• Amplified digital presence on 15+ high traffic apps and websites to increase brand reach and awareness.
• Conducted 'Skill Building Workshops' across various domains for ~3700 contractors.

Outlook

Cement demand during FY’24 stood higher by 7 - 8% YoY at 422 MTPA and are likely to grow by 7 - 9 % in FY'25 to around 451 MTPA driven by strong correlation with GDP growth and rising demand from housing and infrastructure sectors. The Government aims to invest ~USD 3 trillion in infrastructure and housing development through the ongoing 'Housing for All' scheme, National Infrastructure plan, PM Gati Shakti National Master plan and others. An outlay of Rs. 11.11 lakh crores for Capital Expenditure has been allotted in Budget FY’25 which represents 3.4% of GDP. Phase IV of PMGSY will be launched to provide all-weather connectivity to 25,000 rural habitations. All these measures are expected to bring buoyancy to cement demand.

Achievements

• 'Best Customer Service' Award for the revolutionary AAA Certified Technology initiative at the 17th Customer Fest Show India 2024.
• Leadership Score in CDP Climate Assessment, showcasing leading position in environmental stewardship.
• Bhatapara and Roorkee plants won Apex India Green Leaf Platinum and Gold Awards for Environmental Excellence, respectively.
• Gold and Silver Awards for water positivity and waste co-processing, respectively, at the SKOCH Awards 2024.

About Ambuja Cements Limited


Ambuja Cements Limited, is one of India's leading cement companies and a member of the diversified Adani Group – the largest and fastest growing portfolio of diversified sustainable businesses. Ambuja, with its subsidiaries ACC Ltd. and Sanghi Industries Ltd has taken the Adani Group’s cement capacity to 78.9 MTPA with 18 integrated cement manufacturing plants and 19 cement grinding units across the country. The Company has entered into a binding agreement to acquire Penna Cement Industries Limited with a capacity of 14 MTPA. Ambuja has been recognised among ‘India’s Most Trusted Cement Brand’ by TRA Research in its Brand Trust Report, 2024 and among ‘Iconic Brands of India’ by The Economic Times. Ambuja has provided hassle-free, home-building solutions with its unique sustainable development projects and environment-friendly practices since it started operations. The company has many firsts to its credit – a captive port with six terminals that has facilitated timely, cost-effective and cleaner shipments of bulk cement to its customers. To further add value to customers, the Company’s innovative products are now enlisted in GRIHA product catalogue. These products not only fulfil important customer needs but also help in significantly reducing their carbon footprints. Being a frontrunner in sustainable business practices, Ambuja Cements ranks among ‘India's Top 50 companies contributing to inclusive growth’ by SKOCH and has been recognised for its climate change mitigation commitments with a ‘Leadership Score’ of A- by CDP.

Tata Play's Net Loss Increases to Threefolds

Tata Play, a major direct-to-home (DTH) TV distribution operator in India, reported a net loss of Rs 354 crore for the fiscal year ending March 31, 2024. This represents a threefold increase in losses compared to the previous year when they reported a net loss of Rs 105 crore.

The Tata Group promoted company's revenue from operations declined by more than 4% to Rs 4,304 crore, while expenses increased by 1.47% to Rs 4,761 crore.

Tata Play's DTH business slipped into a net loss of Rs 247 crore in FY24 against a net profit of Rs 20 crore in FY23. Revenue from the DTH segment dropped 7.45% to Rs 3,983 crore.

The company faced heightened competition in its DTH business, which contributed to the widening losses. Despite this, Tata Play's broadband business saw a narrower net loss and a 27% increase in revenue. The decline in DTH revenue is expected to be offset by growth in broadband and over-the-top (OTT) services.

As of now, there are four pay-for-use DTH service providers and one free-to-air service provider in India. The major DTH operators include — Tata Play (formerly Tata Sky), Airtel Digital TV (Bharti Telemedia), Dish TV, and Sun Direct.

Additionally, there's a free-to-air DTH service called DD Free Dish, operated by Prasar Bharati. These providers collectively cover more than 95% of the total pay TV viewing universe in India.

Tata Play's widening losses can be attributed to several factors:

1. Increased Competition: The DTH (direct-to-home) TV distribution market in India has become highly competitive, with multiple players vying for subscribers. This intense competition has led to pricing pressures and reduced margins for Tata Play.

2. Content Costs: Acquiring and broadcasting content (such as TV channels, movies, and sports events) involves significant costs. As Tata Play expands its offerings, content acquisition expenses have risen, impacting profitability.

3. Subscriber Churn: High subscriber churn rates (customers switching to other DTH providers or cord-cutting) affect revenue stability. Retaining existing subscribers and attracting new ones is crucial for sustained growth.

4. Regulatory Changes: Regulatory changes in the broadcasting industry can impact DTH operators. Compliance costs, license fees, and other regulatory requirements can add financial strain.

5. Shift to OTT Services: The rise of over-the-top (OTT) streaming services (like Netflix, Amazon Prime Video, and Disney+ Hotstar) has affected traditional DTH subscriptions. Consumers now have more choices, leading to a decline in DTH viewership.

6. Infrastructure Investments: Tata Play's expansion into broadband services and infrastructure investments (such as upgrading satellite transponders and set-top boxes) require substantial capital expenditure.

In summary, Tata Play faces a challenging landscape with fierce competition, changing consumer preferences, and rising costs. Addressing these issues will be crucial for improving profitability.

ONGC Results FY'24 – Posted Its Highest Ever Standalone Net Profit of 40,526 Crore and Declared Highest Ever Dividend

ONGC has recently reported remarkable financial outcomes for FY'24. The company has achieved highest-ever standalone net profit of ₹40,526 crore and consolidated net profit of ₹57,101 crore for FY'24 demonstrate their financial strength. The company's crude production also saw an increase of 2.4% in Q4 of FY'24. 

The Company registered a Profit After Tax (PAT) of Rs. 639 crore in FY'24, as against Rs. 1660 crore in FY'23 mainly due to higher impairment. The Board of Directors of the Company has recommended final dividend of Rs. 0.50 per share on fully paid equity share par value of Rs. 100 each, subject to approval by the shareholders. The total dividend amounts to Rs. 75 crore.

• Standalone net profit: ONGC declared a record standalone net profit of ₹40,526 crore.
• Consolidated net profit: The company also reported its highest ever consolidated net profit at ₹57,101 crore.
• Total dividend: The total dividend for FY'24 would be 245% (Rs 12.25 per share of face value Rs 5 each) with a total payout of Rs 15,411 crore. This includes interim dividend of 195% (Rs 9.75 per share) already paid during the year and final dividend of 50% (Rs 2.50 per share) recommended by the Board.
  
• Crude production: There was a 2.4% increase in crude oil production in Q4 FY'24 compared to the same quarter in the previous year.

ONGC has expanded its footprint beyond India. Their global presence allows them to explore and tap into hydrocarbon reserves in various regions, contributing to their overall. ONGC's overseas arm, ONGC Videsh Ltd. registered production of oil and gas of 10.518 MMTOE in FY'24, as compared to 10.171 MMTOE in FY'23 which is 3.4% incremental growth compared to the previous year. This positive performance was driven by strong contributions from five operated/ jointly operated assets, namely MECL & CPO-5 in Colombia, GPOC & SPOC in South Sudan, and Sancristobal in Venezuela despite natural decline, geopolitical tensions, and local issues.

These figures reflect ONGC's strong financial performance and growth in the oil and gas sector. The increase in crude production is particularly notable as it contributes to the company's profitability and indicates a positive outlook for future production capabilities.

ONGC plays a vital role in the energy sector, contributing to approximately 70% of India's domestic production and fulfilling around 60% of the country's total energy requirements.

Moreover, ONGC boasts a skilled and experienced workforce. Their technical expertise and dedication drive the company's exploration, production, and refining activities.

In summary, ONGC's success can be attributed to a combination of market leadership, skilled workforce, global reach, financial stability, innovation, and a visionary approach.

Salesforce Q1 Fiscal 2025 Results: Revenue of $9.13 Bn; To Pay $0.4 Bn in Dividend to Stockholders

Salesforce has announced its first quarter fiscal 2025 results, which ended on April 30, 2024.

Salesforce's CEO, Marc Benioff, expressed optimism about the company's position in the AI CRM market and its potential to help companies connect with their customers through AI over the next decade. Amy Weaver, President and CFO of Salesforce, highlighted the company's disciplined profitable growth and significant progress in their capital return program.

Key highlights —

First Quarter Revenue: $9.13 Billion, an increase of 11% Year-Over-Year (Y/Y), and also up 11% in Constant Currency (CC).

Subscription & Support Revenue: $8.59 Billion, up 12% Y/Y.

GAAP Operating Margin: 18.7%, and non-GAAP Operating Margin: 32.1%.

Current Remaining Performance Obligation: $26.4 Billion, up 10% Y/Y, and also up 10% in CC.

Operating Cash Flow: $6.25 Billion, up 39% Y/Y, and Free Cash Flow: $6.08 Billion, up 43% Y/Y.

The company returned $2.2 Billion in share repurchases and $0.4 Billion in dividend payments to stockholders.

For the upcoming second quarter of fiscal year 2025, Salesforce has initiated revenue guidance of $9.20 Billion to $9.25 Billion, which would represent a 7% - 8% Y/Y growth.

The full year FY25 revenue guidance remains at $37.7 Billion to $38.0 Billion, indicating an 8% - 9% Y/Y growth. However, the full year FY25 Subscription & Support Revenue Growth Guidance has been slightly lowered to just below 10% Y/Y.

The backbone of Salesforce's income is its subscription- based model, which provides a consistent and predictable revenue stream. This model supports ongoing innovation and value delivery to users.

These factors combined have contributed to Salesforce's robust financial performance and its ability to maintain a trajectory of growth.

For more detailed information, you can refer to the full earnings call transcript or the official press release.

HCLTech Reports $13.3 Billion in Revenue of Full Year, Up 5.4% YoY

HCLTech, a leading global technology company, recently released its financial results for the fourth quarter and the full year ended March 31, 2024. Here are the key highlights:

Full Year Revenue: HCLTech reported a full year revenue of $13.3 billion, which represents a 5.4% year-over-year (YoY) growth.

Digital Services: The revenue from digital services grew by 5.3% (CC) and now contributes to 37.3% of IT Services revenue

HCLSoftware: The Annual Recurring Revenue (ARR) for HCLSoftware reached $1.02 billion.

Large Deals: During FY24, the company secured 73 large deals, with a total contract value (TCV) of $9.76 billion, marking a 10% YoY increase.

Quarterly Revenue: For the quarter, HCLTech's revenue was $3.43 billion, up 6% YoY.

Geographical Growth: The Americas region experienced the fastest growth at 6.8% YoY (CC), followed by Europe with 5.5% YoY (CC).

Industry Verticals: Financial Services and Telecommunications, Media, Publishing & Entertainment were the leading industry verticals. Financial Services grew at 12.1% YoY CC for the full year, while the latter recorded an impressive 39.2% growth (YoY) during the quarter.

Dividend: HCLTech announced a dividend of ₹18/share for the quarter, totaling ₹52/share for FY24.

Workforce: The company's total headcount stood at 227,481 at the end of the quarter, with 12,141 freshers hired during the full year.

Outlook for FY25: HCLTech provided guidance for 3%-5% revenue growth YoY (CC) and an EBIT margin at 18%-19%.

C Vijayakumar, CEO & Managing Director, HCLTech, said, "We are well positioned to capitalize on the growing global enterprise technology spend with our AI-led propositions, global delivery model, and ideal mix of technology services and products."

Prateek Aggarwal, Chief Financial Officer, HCLTech, said, "Our FY24 performance underlines the resilience of our business model, delivering industry-leading growth."

HCLTech is witnessing strong growth in cloud and cybersecurity.

Among the select GenAI deals that HCLTech won in the quarter are:

• A US-based biopharmaceutical company selected HCLTech to leverage GenAI and data engineering to automate the extraction of structured and unstructured data from diverse sources.
• A US-based financial services provider selected HCLTech to migrate its existing machine learning models to new-age GenAI platforms for greater agility, improvement and innovation in service delivery.

HCLTech was recognized by Ethisphere as one of the World’s Most Ethical Companies in 2024. Other key recognitions that HCLTech received in Q4 FY24 are:

• Rated AA in the MSCI ESG ratings for the second consecutive year
• Included in the S&P Global Sustainability Yearbook 2024 for the second year in a row
• Rated as the fastest-growing IT services brand with 15.9% YoY growth in brand value among the top 10 IT companies globally, as per the 2024 Brand Finance Global 500 and IT Services Top 25 Report.

Tata Elxsi Delivers 13% Revenue Growth in FY24; Declares 700% Dividend (Rs. 70/Share)

Declares 700% dividend (Rs. 70 per share)

Full-year PBT crosses Rs. 1,000 Cr for the first time

Growth led by Transportation at 24.6% year-on-year

Tata Elxsi (BSE: 500408 | NSE: TATAELXSI), amongst the world’s leading providers of design led technology services, announced its fourth quarter results for the period ending 31st March 2024.

Highlights of the Year Ended 31st March 2024

• Revenues from operations at Rs. 3,552.1 Cr, + 13.0% YoY
• EBITDA Margin at 29.5%, PBT margin at 28.5%
• Profit before Tax (PBT) grows 11.9% to Rs. 1048.7 Cr
• Software Development and Services (SDS) grew by 9.3% YoY, in constant currency.
• System Integration & Support (SIS) grew by 18.6% YoY, in constant currency.

Highlights of the Quarter Ended March 31, 2024

• Revenues from operations at Rs. 905.9 Cr, - 0.9% QoQ, + 8.1% YoY
• Operating revenue growth -0.6% QoQ and +7.2% YoY on constant currency basis
• EBITDA Margin at 28.8%; PBT at 27.9%
• Profit Before Tax (PBT) at Rs. 262.4 Cr, +4.9% YoY

Industry Highlights for the Year Ended March 31, 2024

• Transportation continues to grow strongly, registering a revenue growth of 24.6% YoY, supported by deal wins in Electric, Software Defined Vehicles and OEMs
• Healthcare delivered sustained growth of 10.8% YoY
• Media and Communications grew 0.2% YoY in a challenging business environment for this industry

Dividend related announcement:

The Board of Directors have recommended a final dividend of 700% (Rs. 70 per equity share of par value of Rs. 10 each) for the financial year ending 31st March 2024, subject to approval by the shareholders of the company at the Annual General Meeting.

Mr. Manoj Raghavan, CEO and Managing Director, Tata Elxsi, commenting on the company’s performance in the financial year 2023-24, said:

“Financial year 2024 has been a year of consistent operational performance with a revenue growth of 13% despite global macroeconomic uncertainties, and volatility in the media and communications industry over the last few quarters. We have done well to maintain industry leading EBITDA margin at 29.5% for the year, even while we continued to invest in expanding our talent base through all four quarters, with a net addition of 1535 Elxsians through the year.

We had laid down a strategy of integrating our design business deeply with our key industry verticals, complementing our software and digital business with a design-led proposition. This is now complete, with a seamless end-to-end proposition from ideation to market introduction. This is enhancing our competitive differentiation, providing early visibility into customer product roadmaps, and creating larger downstream development deals. Starting with this quarter, we are reporting this integrated view of design-digital in all three verticals, under the Software Development and Services (SDS) segment.

During the financial year, our transportation business grew strongly at 24.6% YoY, and now accounts for 49.9% of our overall SDS revenues. OEMs now constitute over 56% of the transportation business, and we are now embedded into the SDV programs of 5 global OEMs. I am especially delighted with the SDV program with a global OEM we won this quarter, and the German Design Award 2024 for our work on automotive HMI, which demonstrates the world-class design-led proposition we offer to customers.

The Healthcare & Lifesciences business registered a growth of 10.8% YoY. We have established a strong foundation for continued growth, with the addition of 5 marquee customer logos in the year and expanded capabilities and platforms in new growth areas such as digital therapeutics and connected health. The Offshore Development Centre for Innovation and R&D we announced in March 2024 for Dräger Medical, the German-headquartered leader in critical care and safety equipment, demonstrates the relevance of our technology and design expertise and deep domain capabilities for next-generation healthcare.

Our Media & Communications business grew 0.2% during the financial year. While this quarter saw a one-off impact of a deal ramp-down with a customer due to a merger, we have done well through the year to protect business, add marquee customers and increase wallet share with key customers. Even while the industry continues to experience significant reductions in discretionary spend and R&D budgets, we are placed well with our integrated design-digital offerings and investments in platforms for the future.

Our Systems Integration and Support (SIS) Business is pivoting to value-added services, innovation-led projects such as experience centres, and supporting downstream deployment and run management for our products and platforms. While Q4 revenues and growth was impacted by hardware shipment delays due to the Red Sea shipping crisis, it grew creditably by 19.0% in FY24, getting to a near 100 Crores business in this financial year.

We are transforming our customer base across industries, with a significant shift towards OEMs in the automotive industry, and operators in the media and telecom industry, while we continue to invest in deepening our key customer relationships. This is reflected in the strong growth in our Top 10 and Top 25 customers across the company.

We are continuing to invest ahead in building our talent pipeline and are expanding our presence across locations in India and overseas. Our employee retention continues to be the best amongst our peers and the industry at large.

Even as we step into the new financial year, we are pleased to announce two new members to the board. Mr. Soumitra Bhattacharya has had an illustrious corporate career, especially in the automotive industry with over 28 years with the Bosch group. He serves as Chairman of Bosch Limited, and is the Director for IFQM - an industry-led initiative focused on Quality, Excellence, and Innovation. Ms. Ashu Suyash is a highly respected leader and served as MD and CEO of CRISIL, among leadership roles across many leading institutions. She has recently set up Colossa Ventures, an investment ecosystem for women entrepreneurs, and is an Independent Director on a few Boards including Hindustan Unilever. We look forward to leveraging the rich experience and network, industry knowledge and strategic inputs from our new directors.

I am pleased with our overall performance and resilience in revenues, margins, and customer additions through the year, in a volatile macroeconomic environment.

We are entering the new financial year with a commitment for growth, and the continued confidence in our differentiated design-led engineering capabilities. This is backed by strategic relationships we have built over years with key customers, the qualitative change in revenues towards OEMs and SDV programs, entries into new operators and marquee healthcare logos, investments in strategic technology areas and AI, and the strong deal pipeline we carry into the new financial year.”

Wipro Gross Revenue Reached ₹222.1 Billion ($2.7 billion¹), Flat QoQ

• IT services segment operating margin increases 40 bps QoQ.
• Net income increases 5.2% QoQ.
• FY 24 Large deal bookings at $4.6 billion, a YoY increase of 17.4%.
• Operating cash flows at 158.6% of net income for the year.

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company, announced financial results under International Financial Reporting Standards (IFRS) for the quarter and year ended March 31, 2024.

Highlights of the Results
Results for the Quarter ended March 31, 2024:

1. Gross revenue reached ₹222.1 billion ($2.7 billion1), flat QoQ.
2. IT services segment revenue was at $2,657.4 million, an increase of 0.1% QoQ and decrease of 6.4% YoY.
3. Non-GAAP2 constant currency IT Services segment revenue decreased 0.3% QoQ, and 6.6% YoY.
4. Total bookings3 was at $3.6 billion. Large deal bookings4 was at $1.2 billion, increase of 31.1% QoQ and 9.5% YoY.
5. IT services operating margin5 for the quarter was at 16.4%, up by 40 bps QoQ.
6. Net income for the quarter was at ₹28.3 billion ($341.0 million1), an increase of 5.2% QoQ.
7. Earnings per share for the quarter was at ₹5.43 ($0.071), an increase of 5.2% QoQ.
8. Operating cash flows of ₹52.2 billion ($626.1 million1), an increase of 9.0% QoQ and at 182.6% of Net Income for the quarter.
9. Voluntary attrition was at 14.2% on a trailing 12-month basis.

Results for the Year ended March 31, 2024:

• Gross revenue reached ₹897.6 billion ($10.8 billion¹), a decrease of 0.8% YoY.
• IT services segment revenue was at $10,805.3 million, a decrease of 3.8% YoY.
• Non-GAAP² constant currency IT Services segment revenue decreased 4.4% YoY.
• Large deal bookings4 was at $4.6 billion, up by 17.4% YoY. Total bookings3 was at $14.9 billion decrease of 5.5% YoY.
• IT services operating margin5 for the year was at 16.1%, up by 50 bps YoY.
• Net income for the year was at ₹110.5 billion ($1,325.3 million¹), a decrease of 2.7% YoY.
• Earnings per share for the year was at ₹20.89 ($0.251), an increase of 0.8% YoY.
• Operating cash flows of ₹176.2 billion ($2,114.0 million1), an increase of 34.9% YoY and at 158.6% of Net Income for the year.

Outlook for the Quarter ending June 30, 2024

Wipro expects revenue from its IT Services business segment to be in the range of $2,617 million to $2,670 million*. This translates to sequential guidance of (-)1.5% to +0.5% in constant currency terms.

* Outlook for the Quarter ending June 30, 2024, is based on the following exchange rates: GBP/USD at 1.26, Euro/USD at 1.08, AUD/USD at 0.66, USD/INR at 83.19 and CAD/USD at 0.74

Capital Allocation:

The Board of Directors confirmed the interim dividend of ₹1 declared by the Board earlier at its meeting held on January 12th, 2024, shall be considered as the final dividend for the financial year 2023-24.

1. For the convenience of the readers, the amounts in Indian Rupees in this release have been translated into United States Dollars at the certified foreign exchange rate of US$1 = ₹83.34, as published by the Federal Reserve Board of Governors on March 31, 2024. However, the realized exchange rate in our IT Services business segment for the quarter ended March 31, 2024, was US$1= ₹83.09

2. Constant currency for a period is the product of volumes in that period times the average actual exchange rate of the corresponding comparative period.

3. Total Bookings refers to the total contract value of all orders that were booked during the period including new orders, renewals, and increases to existing contracts. Bookings do not reflect subsequent terminations or reductions related to bookings originally recorded in prior fiscal periods. Bookings are recorded using then-existing foreign currency exchange rates and are not subsequently adjusted for foreign currency exchange rate fluctuations. The revenues from these contracts accrue over the tenure of the contract. For constant currency growth rates, refer note 2.

4. Large deal bookings consist of deals greater than or equal to $30 million in total contract value.

5. IT Services Operating Margin refers to Segment Results Total as reflected in IFRS financials.

6. Voluntary attrition is in IT Services computed on a quarterly annualised basis and excludes DOP.

7. Effective April 1, 2023, Wipro merged its ISRE segment with our IT Services segment. The YoY growth rates for the quarter ended March 31, 2024 were computed by rebase lining Q4’23 numbers.

IT Products

1. IT Products segment revenue for the quarter was ₹1.2 billion ($13.9 million¹)
2. IT Products segment results for the quarter were ₹0.14 billion ($1.72 million¹)
3. IT Products segment revenue for the year was ₹4.1 billion ($49.5 million1)
4. IT Products segment results for the year were (-₹0.37 billion) (-$4.45 million¹)

ReNew Announces Results for the 3rd Quarter and 9 Mths of FY'24

ReNew Announces Results for the Third Quarter and Nine Months of Fiscal Year 2024: Increases the bottom end of Adjusted EBITDA guidance for FY24 by 2%

ReNew Energy Global Plc (“ReNew” or “the Company”) (Nasdaq: RNW, RNWWW), a leading decarbonization solutions company, today announced its unaudited consolidated IFRS results for Q3 FY24 and nine months ended December 31, 2023.

Operating Highlights:

• As of December 31, 2023, the Company’s portfolio consisted of 13.8 GWs, of which ~8.5 GWs are commissioned and 5.3 GWs are committed, compared to 13.4 GWs as of December 31, 2022.
• Total Income (or total revenue) for the first nine months of FY24 was INR 72,414 million (US$ 870 million), compared to INR 63,493 (US$ 763 million) for the first nine months of FY23. Net profit for the first nine months of FY24 was INR 3,538 million (US$ 43 million) compared to a net loss of INR 5,103 million (US$ 61 million) for the first nine months of FY23. Adjusted EBITDA for the first nine months of FY24 was INR 52,406 million (US$ 630 million), as against INR 49,994 million (US$ 601 million) for the first nine months of FY23. Cash Flow to equity ("CFe") for the first nine months of FY24 was INR 21,756 million (US$ 262 million) compared to INR 19,810 million (US$ 238 million) for the first nine months of FY23.
• Total Income (or total revenue) for Q3 FY24 was INR 19,290 million (US$ 232 million), compared to INR 16,077 (US$ 193 million) for Q3 FY23. Net loss for Q3 FY24 was INR 3,216 million (US$ 39 million) compared to a net loss of INR 4,013 million (US$ 48 million) for Q3 FY23. Adjusted EBITDA for Q3 FY24 was INR 12,509 million (US$ 150 million), as against INR 11,628 million (US$ 140 million) in Q3 FY23. Cash Flow to equity (“CFe”) for Q3 FY24 was INR 2,392 million (US$ 30 million) compared to INR 2,682 million (US$ 32 million) in Q3 FY23.
• Days Sales Outstanding (“DSO”) ended Q3 FY24 at 86 days, a 92 day improvement, year on year.

FY 24 Guidance

We are increasing the bottom end of our FY24 Adjusted EBITDA guidance range by 2%, to INR 63,000 – INR66,000 million and expect revenue generation from 1,750 to 1,950 MWs of completed projects by the end of Fiscal Year 2024.

The Company’s Adjusted EBITDA and Cash Flow to equity guidance for FY24 are subject to the weather being similar to FY23.

Financial Year		Adjusted EBITDA		Adjusted EBITDA / share		Cash Flow toequity (CFe)		CFe / share
FY24		INR 63,000 –INR 66,000 million		INR 158 -INR 164		INR 6,000 –INR 8,000 million		INR 15 -INR 20

Note: the translation of Indian rupees into U.S. dollars has been made at INR 83.19 to US$ 1.00.

Webcast and Conference call information

A conference call has been scheduled to discuss the earnings results at 8:30 AM EST (7:00 PM IST) on February 20, 2024. The conference call can be accessed live at: https://edge.media-server.com/mmc/p/wnkm7p5v or by phone (toll-free) by dialing:

US/ Canada: (+1) 855 881 1339
France: (+33) 0800 981 498
Germany: (+49) 0800 182 7617
Hong Kong: (+852) 800 966 806
India: (+91) 0008 0010 08443
Japan: (+81) 005 3116 1281
Singapore: (+65) 800 101 2785
Sweden: (+46) 020 791 959
UK: (+44) 0800 051 8245
Rest of the world: (+61) 7 3145 4010 (toll)

An audio replay will be available following the call on our investor relations website at https://investor.renew.com/news-events/events