Earnings Earnings Earnings!

Earnings Roundup 

Asian Paints (-3%) Q3 results missed Street estimates. Decorative paint volumes were flat in Q3 vs the expectation of 5%-6% growth YoY. Steep price hikes + extended monsoon in October affected sales during the peak festival season. Margins improved over the previous year but were lower than expected. This is a concern because input costs have reduced sharply in recent months. Check out its report card here: 📊

• Revenue: Rs 8,608 cr; +2% YoY (vs Est: Rs 9,510 cr)
• EBITDA: Rs 1,612 cr; +5% YoY (vs Est: Rs 1,710 cr)
• EBITDA Margin: 18.4% (vs Est: 18%)
• Net Profit: Rs 1,097 cr; +6% YoY (vs Est: Rs 1,145 cr)

Asian paints will host its Q2 analyst call later today. Management commentary on demand trends, outlook on price hikes and competition from new players will be critical. Let’s see how this goes. 🔥

Asian Paints is down 15% in the past year. 📉

Star Investor Portfolio

Starting today, Stocktwits India will cover the top 3 holdings of India’s biggest investors. We kick things off with the late big bull Rakesh Jhunjhunwala. PS – his portfolio is now managed under his wife’s name – Rekha Jhunjhunwala 🙏

• Titan: The Tata Group Company is Jhunjhunwala’s biggest holding. He controls a 5.2% stake valued at nearly Rs 11,000 cr! Tanishq is India’s #1 organized jewellery brand offering a wide range of gold, diamond, and other precious jewellery. They are also amongst the largest players in the watches and eyecare segment with brands like Fastrack, Sonata and Raga. Titan has a solid pan-India distribution network with +1,500 retail outlets and a presence in 30 countries globally. Their sales and net profit have grown 17% and 23% CAGR over the past 5 years. 💯
  
• Star Health and Allied Insurance Company: Jhunjhunwala along with his wife Rekha are promoters in the company. They hold a 17.3% stake in Star Health which is valued at over Rs 5,000 cr. Star Health is one of the largest private health insurers in India with a ~16% market share. It has a wide pan-India presence with 779 branches across 25 states and 5 union territories. It also has tie-ups with nearly 12,000 hospitals in India. Star Health has a diversified product portfolio with offerings in group health, personal accident, and overseas travel. ✅

• Metro Brands: Jhunjhunwala holds a 14.4% stake in the footwear company valued at Rs 3,400 cr. Metro Brands is among the top 5 footwear brands in India. They operate and sell products under Metro, Mochi, Walkway and Crocs brands. It secures products through outsourcing agreements so they don’t have its own manufacturing facilities. Metro Brands currently operates 598 stores across 136 cities across the country. The company went public in Dec 2021 and is +75% from its IPO price. Another one of Big Bull’s classics! 💪

Stocktwits Spotlight

The sell-off in Bajaj Finserv shares is far from over according to Vaibhav Khanna. Here’s a bearish chart setup he shared on Stocktwits. Follow him for more awesome trading insights and add $BAJAJFINSV.NSE to your watchlist and track the latest from our community. Here’s the link: https://bit.ly/3XLiohz.

Earnings Highlights 

• Persistent Systems: Revenue: Rs 2,169 cr; (+45% YoY) | Net Profit: Rs 238 cr; (+35% YoY)
• IndusInd Bank: Net Interest Income: Rs 4,495 cr; (+19% YoY) | Net Profit: Rs 1,959 cr; (+69% YoY)
• Rallis India: Revenue: Rs 631 cr; (+1% YoY) | Net Profit: Rs 23 cr; (-43% YoY)
• Havells India: Revenue: Rs 4,120 cr; (+13% YoY) | Net Profit: Rs 284 cr; (-7% YoY)
• Happiest Minds Technologies: Revenue: Rs 366 cr; (+29% YoY) | Net Profit: Rs 58 cr; (+18% YoY)

Calendar