Q1 FY24 earnings calls.

ABB India delivered a strong Q1 CY2024 with revenue crossing INR 3,000 crore for the first time, growing 28% YoY, driven by robust execution of a record backlog. Orders grew 15% YoY to INR 3,607 crore, led by data center

Adani Enterprises reported a strong Q1 FY24 with consolidated EBITDA up 47% YoY to INR 2,896 crore and PAT up 44% to INR 674 crore, driven by robust performance in the green hydrogen ecosystem (ANIL) and IRM business. Th

Adani Green reported strong operational performance in Q1 FY24, with operational capacity up 43% YoY to 8,316 MW and sale of energy rising 70% to 6,023 million units. Revenue from power supply grew 55% to ₹2,099 crore, w

Adani Ports delivered its strongest ever quarterly performance in Q1 FY24, with record revenue of INR 6,248 crore (+24% YoY), EBITDA of INR 3,765 crore (+80% YoY), and PAT of INR 2,119 crore (+80% YoY). Cargo throughput

Aditya Birla Capital delivered a strong Q1 FY24 with consolidated PAT up 51% YoY to INR 649 crore and revenue up 39% YoY to INR 8,144 crore. The NBFC arm led growth with a 65% YoY surge in disbursements, driving AUM to I

ABFRL reported Q1 FY24 consolidated revenue of INR 3,196 crore (+11% YoY) and EBITDA of INR 353 crore (11% margin), with PAT loss of INR 162 crore. The discretionary consumption slowdown persisted, impacting Pantaloons (

AIA Engineering reported a strong Q1 FY24 with sales volume of 74,000 tons, a record for the first quarter, driven by mining segment growth. Revenue from product sales stood at INR 220 crore, EBITDA at INR 402 crore (28%

Ajanta Pharma reported a solid Q1 FY24 with consolidated revenue of ₹1,021 crore (+7% YoY) and EBITDA margin of 26% (+300 bps YoY), driven by gross margin expansion from softer API prices and normalized logistics. PAT gr

Alkem Laboratories reported Q1 FY2024 revenue growth of 15.2% YoY, driven by strong international business crossing INR 1,000 crore for the first time. EBITDA margin came in at 13.1%, aided by raw material softening, fav

APAR Industries reported a strong Q1 FY24 with consolidated revenue of INR 3,773 crore (+22% YoY), EBITDA of INR 369 crore (+54% YoY) at a margin of 9.8%, and PAT of INR 197 crore (+61% YoY). Growth was volume-led across

Apollo Hospitals reported a solid Q1 FY24 with consolidated revenue of INR 4,418 crore (+16% YoY) and EBITDA of INR 509 crore (+4% YoY). Healthcare services grew 13% YoY, driven by a 6% increase in IP volumes and an 11%

Ashok Leyland reported a strong Q1 FY24 with revenue of INR 8,189 crore (+13% YoY) and EBITDA margin of 10% (vs 4.4% last year), driven by price hikes, cost reduction, and favorable mix. PAT surged to INR 576 crore (vs I

Asian Paints reported a strong Q1 FY24 with 10% volume growth on a high base, driven by broad-based demand across geographies and segments. Revenue grew 7% YoY (standalone), aided by double-digit volume growth and a heal

Astral delivered a strong Q1 FY24 with 31% volume growth in pipes and healthy adhesive volumes, though revenue growth was muted due to sharp polymer price declines. EBITDA margins remained resilient at ~18% in pipes (adj

AU Small Finance Bank reported Q1 FY24 PAT of INR 387 crore, up 44% YoY, driven by strong asset growth (gross advances +29% YoY) and stable asset quality. Deposits grew 27% YoY to INR 69,315 crore, but sequentially flat

Aurobindo Pharma delivered a robust Q1 FY24 with revenue of INR 6,850 crore (+9.9% YoY) and EBITDA of INR 1,151 crore (+19.3% YoY), driven by strong US formulation growth (+11.2% YoY to $402M) and a record European quart

Axis Bank reported a strong Q1 FY24 with consolidated PAT growing 41% YoY and annualized ROE at 19.44%, up 388bps YoY. NII grew 27% YoY to INR 11,959 crore, with NIM at 4.10% improving 50bps YoY. Fee income rose 28% YoY

Bajaj Auto delivered a record Q1 FY24 with revenue of ₹10,310 crore (+29% YoY), EBITDA of ₹1,954 crore (+51% YoY), and PAT of ₹1,665 crore. Domestic motorcycle retail grew 19% YoY, gaining 2% market share in the 125cc+ s

Bajaj Finance delivered an excellent Q1 FY24 with PAT of INR 3,437 crore (up 32% YoY) and AUM growth of 32% to INR 2.7 lakh crore, the highest ever quarterly addition of INR 22,718 crore. The company booked 9.94 million

Bajaj Finserv reported a strong Q1 FY24 with consolidated PAT up 48% YoY to INR 1,943 crore and total income up 47% to INR 23,280 crore. The general insurance arm (BAGIC) posted a combined ratio of 100.7% (vs 104.6% last

Bandhan Bank reported a stable Q1 FY24 with net profit of INR 721 crore, down 18.7% YoY from INR 887 crore, impacted by seasonal weakness in microfinance and higher provisions. Advances grew 6.7% YoY but declined sequent

Berger Paints delivered a strong Q1 FY24 with standalone value growth of 10.1% and operating profit growth of 37.5%, driven by double-digit volume growth of 12.7% and market share expansion to 20.2% (up 90bps). Decorativ

BPCL reported a stellar Q1 FY24 with consolidated PAT of INR 10,644 crore, its highest ever, driven by record refinery throughput at 115% capacity utilization and strong marketing volume growth of ~8% YoY. Refinery GRM s

Bharti Airtel delivered a strong Q1 FY24 with consolidated revenue of INR 37,440 crore, up 4% QoQ, driven by India mobile revenue growth of 4.5% QoQ. EBITDA margin expanded 50 bps QoQ to 52.7%, aided by the War on Waste

Biocon Group delivered a strong revenue-led Q1 FY24, with consolidated revenue up 59% YoY to INR 3,516 crore, driven by the Viatris biosimilars acquisition and robust growth across all segments. Biosimilars revenue more

Bosch Limited reported Q1 FY24 revenue of INR 4,158 crore, up 17.3% YoY, driven by growth in mobility solutions (13.6%) and beyond mobility (21.5%). PAT rose 22.4% YoY to INR 409 crore, aided by higher other income. Howe

Britannia reported Q1 FY24 revenue growth of 9% YoY, driven entirely by transaction growth, with operating profit surging 37% YoY. EBITDA margin came in at 15.6%, reflecting cost efficiencies and benign input costs, thou

Canara Bank reported a strong Q1 FY24 with net profit surging 74.83% YoY to ₹3,535 crore, driven by 27.72% NII growth and improved asset quality. Gross NPA declined 183 bps YoY to 5.15%, while PCR crossed 88%. Gold loan

CDSL reported a strong Q1 FY24 with consolidated revenue up 19% YoY to INR 174 crore and net profit up 28% YoY to INR 74 crore, driven by buoyant capital markets and a 29% YoY increase in Demat accounts to 8.83 crore. An

Cipla delivered a strong Q1 FY24 with 18% YoY revenue growth to INR 6,329 crore, driven by record performance in India (12% growth) and the US ($222 million, +43% YoY). EBITDA margin expanded to 23.6%, aided by favorable

Coforge delivered a solid Q1 FY24 with constant currency revenue growth of 2.7% QoQ and 18.4% YoY, despite a challenging macro environment. Record quarterly order intake of $531 million, including a $300 million TCV BFS

Coromandel reported a steady Q1 FY24 with consolidated revenue of INR 5,758 crore (down 1% YoY) and EBITDA of INR 709 crore (up 3.5% YoY). PAT was INR 494 crore, marginally lower YoY. The nutrient business saw volume gro

Dabur India reported a strong Q1 FY24 with consolidated revenue crossing INR 3,130 crore, up 11% YoY, driven by 13.3% constant currency growth. India business grew 8% with double-digit growth in Healthcare and HPC, while

Divis Laboratories reported a consolidated total income of INR 1,859 crore for Q1 FY24, down from INR 2,343 crore in the same quarter last year, reflecting the absence of COVID-related demand and ongoing pricing pressure

Dixon Technologies reported a solid Q1 FY24 with consolidated revenue of INR 3,274 crore (+15% YoY), EBITDA of INR 135 crore (+34% YoY), and PAT of INR 57 crore (+28% YoY). EBITDA margins expanded 60 bps YoY to ~4.1% (im

DLF reported a steady Q1 FY24 with consolidated revenue of INR 1,522 crore and PAT of INR 528 crore, up 12% YoY. New sales bookings of INR 2,040 crore were in line with guidance. The company's net debt fell to a record l

Dr. Reddy's delivered a strong Q1 FY24 with consolidated revenue of INR 6,738 crore (+29% YoY) and EBITDA margin of 31.7%, driven by robust U.S. generics growth (+69% YoY to $389M) including lenalidomide, Mayne Pharma in

Eicher Motors delivered a stellar Q1 FY24, with consolidated revenue of ₹3,986 crore (+17% YoY), EBITDA of ₹1,021 crore (+23% YoY), and PAT of ₹918 crore (+50% YoY). EBITDA margin expanded 110 bps to 25.6%, driven by pri

Fortis Healthcare reported a steady Q1 FY24 with consolidated revenue of INR 1,657 crore, up 11.4% YoY, driven by hospital revenue growth of 13.6% to INR 1,354 crore. However, consolidated EBITDA margin contracted 40bps

GAIL reported a strong Q1 FY24 with consolidated PAT surging 150% YoY to INR 1,793 crore, driven by a sharp recovery in gas marketing spreads, lower inventory losses, and improved transmission tariff realization. Gas tra

Gland Pharma reported consolidated revenue of INR 1,209 crore for Q1 FY24, up 41% YoY, driven by the Cenexi acquisition (37% contribution) and 4% base business growth. EBITDA stood at INR 298 crore (25% margin), while PA

Glenmark delivered a strong Q1 FY24 with consolidated revenue of INR 24,106 million, up 22.5% YoY, driven by robust performance in Europe (+73.7%) and ROW (+30.4%). EBITDA margin came in at 18.6% (19% ex-forex loss), wit

Godrej Consumer Products delivered a strong Q1 FY2024, with consolidated organic UVG of 8% and constant currency sales growth of 13%, ahead of expectations despite tough market conditions. India organic UVG was 10% with

Godrej Properties reported a muted Q1 FY24 with bookings declining 11% YoY to INR 2,254 crore due to delayed launches, though existing inventory sales grew 19%. Revenue surged 251% to INR 1,315 crore, EBITDA rose 98% to

Grasim's Q1 FY24 consolidated revenue grew 11% YoY to INR 31,065 crore, driven by subsidiaries UltraTech and Aditya Birla Capital, but standalone revenue fell 14% YoY to INR 6,238 crore due to weak realizations in VSF an

GFL reported a weak Q1 FY24 with consolidated revenue of ₹1,209 crore (down 9% YoY), EBITDA of ₹328 crore (down 24% YoY), and PAT of ₹201 crore (down 34% YoY). The bulk chemicals and refrigerant segments faced price and

Happiest Minds delivered a strong Q1 FY24 with total income of INR 405 crore, up 4.7% QoQ and 22.6% YoY. EBITDA at INR 103 crore (25.5% margin) marked the 13th consecutive quarter above the 20-24% guidance band, driven b

Havells India reported a muted Q1 FY24, with consumer demand impacted by unseasonal weather, though B2B and Lloyd segments showed healthy growth. Cables and wires volume grew over 30%, while lighting saw mid-single-digit