Select renowned companies including Lupin, Vodafone Idea, NBCC (India), Steel Authority of India (SAIL), Berger Paints (India) and Indian Railway Catering and Tourism Corporation (IRCTC) are set to announce their results for the period ended on December 31, 2024 later today. Interestingly, these stocks were trading in red ahead of earnings, cracking up to 5 per cent in early trade on Tuesday.
Shares of Lupin Ltd dropped 3.57 per cent to Rs 2,092.25 on Tuesday, with its market capitalization slipping below Rs 96,000 crore mark. The stock had settled at Rs 2,169.85 on Monday and it is down 13 per cent from its 52-week high at Rs 2,403.45 hit in January 2025.
HDFC Securities expects Lupin's revenue to come in at Rs 5,692.6 crore in December 2024 quarter up 10 per cent YoY and flat sequentially. Ebitda is seen at Rs 1,269.5 crore, up 24 per cent YoY with Ebitda margins rising 264 bps YoY to 22.3 per cent for the quarter. PAT is seen at Rs 752.8 crore, up 26 per cent YoY but down 14 per cent QoQ.
"US business to see steady traction from its key products like gSpiriva, and gMyrbetriq as well as recently launched gPred Forte (CGT exclusivity). This will partly offset competition in Albuterol and gSuprep. India business to see 15 per cent YoY growth. Gross margin to remain strong leading to Ebitda margin expansion," said HDFC Securities, which has an 'add' rating on Lupin.
Shares of Vodafone Idea Ltd tumbled 2.4 per cent on Tuesday to slip to Rs 8.90 levels, compared to its close at Rs 9.12 on Monday. The total mcap of the telecom player slipped below Rs 64,000 crore mark. The stock crashed nearly 55 per cent from its 52-week high at Rs 19.15 in June 2024.
Kotak Institutional Equities pegs Vodafone Idea's sales at Rs 11,478.2 crore, up 7.5 per cent YoY and 5 per cent QoQ. Ebitda is seen at Rs 4,884.6 crore, up 12.3 per cent YoY and 7.4 per cent QoQ, with Ebitda margins expanding 179 bps YoY to 42.6 per cent. Vodafone Idea's net loss may contract to Rs 6,696.9 crore for the third quarter of the current fiscal. Kotak has a 'sell' rating on it.
Kotak expects revenue growth of 5 per cent QoQ on ARPU uptick, led by tariff hikes, partially offset by continued subs decline. Reported EBITDA is likely to increase 7-8 per cent QoQ on higher ARPUs. "We model EoP subscriber base to decline by 2 million QoQ to 203 million and ARPU to increase 7.5 per cent QoQ to Rs168/month on tariff hikes and improved subscriber mix," it said.
Indian Railway Catering and Tourism Corporation skidded more than 2.65 per cent to Rs 752.90 during the session, with its total valuation slipping below Rs 60,000 crore. The stock ended Monday's session at Rs 773.50. The state-run railway counter scaled its 52-week high at Rs 1,148.30 in May 2024, but its declined 35 per cent since then.
B&K Securities expects IRCTC to report a revenue of Rs 1,251.1 crore, up 8.7 per cent YoY and 14.2 per cent QoQ. Ebitda margin is likely to expand to 36.7 per cent for the quarter. PAT is likely to come in at Rs 361.2 crore, up 14.9 per cent YoY and 17.3 per cent QoQ. "IRCTC ticket volumes have held up well, and results are likely to be healthy," said B&K Securities has a 'sell' rating.
Shares of Steel Authority of India Ltd (SAIL) shed 3.13 per cent to Rs 101.80 on Tuesday, with a total valuations at Rs 42,250 crore. The stock had settled at Rs 105.10 on Monday but it has plunged more than 42 per cent from its 52-week high at Rs 175.65 in May 2024.
Elara Capital expects SAIL to report a revenue of Rs 24,358.1 crore in the Q3FY25, up 4.3 per cent YoY, but down 1.3 per cent QoQ. Ebitda is likely to come in at Rs 2,033.3 crore, falling 30 per cent QoQ and 5 per cent YoY. Adjusted net profit may come in at Rs 135.7 crore, crashing 83.7 per cent QoQ and 51.2 per cent YoY. Elara has a 'reduce' rating on SAIL.
NBCC (India) Ltd, which has crashed over 38 per cent from its 52-week high at Rs 139.90 in August 2024, dropped another 4 per cent for the day to 86.67 on Tuesday, with its total mcap slipping below Rs 24,000 crore. The stock had settled at Rs 90.27 on Monday.
Anand Rathi Shares & Stock Brokers expects NBCC (India) to report a revenue of Rs 2,477 crore, up 29.1 per cent YoY and 32.8 per cent QoQ. Ebitda margins are seen improving 230 bps sequentially to 6.5 per cent. Adjusted net profit is likely to come in at Rs 155.5 crore, up 40.8 per cent YoY and 25.7 per cent QoQ. Anand Rathi currently has a 'sell' rating on NBCC (India).
Berger Paints India Ltd posted the minimal cut among the pack. The stock was down 1.5 per cent to Rs 477.05 on Tuesday, with a total valuations above to Rs 55,000 crore. The stock had ended Monday's session at Rs 484.60 and it is down 25 per cent from its 52-week high at Rs 629.60 hit in September 2024.
Equirus Securities expects the recent trends to continue with Berger Paints India outperforming Asian Paints and other large Domestic decorative paint players. Moreover, we expect an uptick in the Industrial paints business. We have built a 2 per cent topline growth in the SA business and 5 per cent growth in the subsidiary business.
"Berger Paints has consistently grown ahead of the market in the last 9-10 quarters and the outperformance could continue. Margins though would be under pressure due to uptick in RM prices," it added with demand outlook, competition and gross margin trends to remain as key things to watch. Equirus has an 'add' rating on the stock.