SAMHI, SignatureGlobal & Zaggle Prepaid: These recent D-St debutants rebound up to 9%; here's why

Latest debutants of Dalal Street, including Zaggle Prepaid Ocean Services, SAMHI Hotels and SingantureGlobal (India) hogged limelight among the investors as these companies announced their first earnings after listing. However, one should note that the declared results pertain to the first quarter ended on June 30, 2023, while the September quarter earnings shall be shared later.

Rebouding 5 per cent from the early dip, shares of SingatureGlobal hit new highs of Rs 515.45 on Thursday. Along with the June 2023 quarter results, the company had also shared business updates for September 2023 quarter and half year ended on the same date. The scrip had settled at Rs 502.85 on Wednesday. The stock rose 34 per cent from its issue price of Rs 385 apiece.

SingatureGlobal reported a 69.4 per cent fall in the revenue from operations to Rs 165.86 crore in Q1FY24, against Rs 542.08 crore in the year-ago period. The company reported a net loss of Rs 7.18 crore in the first quarter compared to a net profit of Rs 32.79 crore in the same quarter last year.

However, adjusted gross profit margins to 34.33 per cent in Q1FY24 as compared to 26.91 per cent during the period under review, while adjusted EBITDA margin dropped to 9.53 per cent from 18.21 per cent during the given time-frame.

In a separate exchange filing, Signatureglobal reported its best ever half-yearly pre-sales performance in H1FY24 at Rs 1,851.40 crore, reporting a growth of 37.57 per cent in the year-round period. However, the number of units sold dropped 4 per cent to 1,956 from 2,024 units in Q1FY23.

Sales realization improved to Rs 9,800 per square feet in the first half of the ongoing fiscal, from Rs 7,425 per square feet in the first half of last year. Collections came in at Rs 1,327.46 crore, signaling a growth 65 per cent on a yearly basis. Net debt reduced to Rs 369.97 crore at the end of six months ended on September 30, 2023 from Rs 1,093.90 crore at the end of FY23.

Like SignatureGlobal, Zaggle Prepaid Ocean Services also rebounded 9 per cent from day's low to hit Rs 218.8 after its results for the June 2023 quarter. The stock, which hit Rs 201.10 during the day, has gained about 33 per cent from its issue price of Rs 164 apiece.

The company reported a 67.4 per cent fall in the net profit at 2.06 crore in the June 2023 quarter, which stood at Rs 6.3 crore in the same period a year ago. However, revenue from operations rose 33.7 per cent to Rs 118.48 crore for the given quarter, compared to Rs 88.62 crore previous year.

Topline of the company was driven by: growth in corporate credit cards business, Launch of new product named Zoyer and expansion of customer base. Adjusted EBITDA grew 27.4 per cent to Rs 13.8 crore from Rs 10.83 crore during the year-ago period, while EBITDA margins declined to 11.65 per cent from 12.22 per cent.

SAMHI Hotels also saw an initial dip to Rs 154.4 before recovering 6 per cent to Rs 163.95 on Thursday after Q1 results. The scrip had settled at Rs 158.55 in the previous trading session. The stock had gained more than 30 per cent from its issue price of Rs 126 apiece. Akin to SignatureGlobal and Zaggle Prepaid, SAMHI Hotels also made its debut in September 2023.

SAMHI Hotels revenue from operations declined 7 per cent to Rs 190.44 crore in June 2023 quarter from Rs 204.76 crore in the June 2022 quarter. However, its net loss expanded about 14 per cent to Rs 83.49 crore in the given quarter, from Rs 73.68 crore in the same quarter last year.

Its average occupancy remained almost flat, marginally down, at 71 per cent in the Q1FY24 from 73 per cent in the Q1FY23. However, average room-rate increased about 18 per cent to Rs 5,408 from Rs 4,594. Revenue per available room (RevPAR) saw growth of 14 per cent to Rs 3,810 from Rs 3,337.

Among other recent debutants of Dalal Street, Sai Silk (Kalamandir) and Yatra Online will also announce their June 2023 quarter results in the next few sessions. The former one will release its earnings on Friday, October 13, while the latter one will announce its earnings on Monday, October 16.

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