A handful of companies including Titan Company Ltd, GAIL (India) Ltd, Mazagon Dock Shipbuilders Ltd, PB Fintech Ltd, Oil India Ltd and Dr Reddy's Laboratories Ltd will be reporting their September quarter results today. Among them, Oil India and Dr Reddy's Labs are seen reporting drop in Q2 profit growth. On the other hand, companies such as Mazagon Dock Shipbuilders and GAIL are seen reporting over 20 per cent growth in Q2 profit.
In the case of Titan Company, MOFSL expects the Tata group firm to report 20 per cent standalone revenue growth (ex-bullion) and same store sale growth of 14 per cent in Q2. The standalone Jewelry EBIT margin is expected to remain stable at 13.8 per cent against 14.1 per cent YoY. The growth in watches segment is expected to be healthy muted growth in eye care segment. Inventory loss of Rs 300-350 crore due to custom rate cut in Q2FY25. The brokerage though has not considered the impact in its estimates. Net-net, MOFSL sees Titan reporting 18.4 per cent YoY rise in adjusted profit at Rs 1,080 crore on 15.2 per cent YoY rise in sales at Rs 14,430 crore.
In the case of Mazagon Dock Shipbuilders Ltd, Nirmal Bang Institutional Equities expects the company to report 47 per cent YoY rise in net profit at Rs 489.20 crore on 20 per cent YoY rise in sales at Rs 2,193.20 crore. Ebitda is seen coming in at Rs 411.90 crore, up 133 per cent.
In the case of PB Fintech, JM Financial expects the company to maintain its growth trajectory, forecasting a 52 per cent YoY growth in insurance premium with core insurance premium growth of 42 per cent. New Initatives could see a sharper ramp-up at 81 per cent, the brokerage said.
"Paisabazaar disbursals are expected to decline 2 per cent YoY, however improve 29 per cent sequentially with the gradual recovery of unsecured loans as well as some early traction in secured loans. We expect revenue growth of 43.6 per cent/7.6 per cent YoY for Policybazaar / Paisabazaar, as take-rates are likely to decline in insurance and improve in credit disbursals. We expect group contribution margin at 29.1 per cent with core CM likely to further get dented with sustained rise in new health insurance," JM Financial said.
"Additionally, we expect adjusted Ebitda margin expansion of 280bps/190bps on a YoY/QoQ basis to reach 4.4 per cent, as strong topline growth delivers operating leverage. Management commentary around recent decision to foray into healthcare should be keenly watched," the brokerage said. JM sees profit of Rs 42.60 crore and sales of Rs 1,110.20 crore for Q2.
In the case of Oil India, Elara Securities expects 21.6 per cent YoY fall in net profit at Rs 1,644.80 crore on 0.2 per cent rise in sales at Rs 5,353 crore. This brokerage sees GAIL's profit at Rs 3,023.80 crore, up 25.7 per cent. The PSU's sales are seen rising 7.6 per cent YoY at Rs 34,239 crore.
Meanwhile, Sharekhan expects Dr Reddy's Labs to report 4 per cent drop in profit at Rs 1,425 crore compared with Rs 1,482 crore YoY. Sales are seen rising 13 per cent YoY to Rs 781.90 crore from Rs 690.30 crore. Ebitda margin is seen at 28 per cent, down 138 basis points YoY.