Q2 FY24 earnings calls.

ABB India delivered a strong Q2 CY2024 with 13% YoY revenue growth to INR 2,800 crore and order inflow up 13% to INR 3,400 crore. EBITDA margin expanded to 19%, while PBT margin reached 21%, aided by favorable revenue mi

Adani Enterprises reported a strong H1 FY24 with consolidated total income of INR 48,876 crore and EBITDA up 43% YoY to INR 5,874 crore, driven by incubating businesses contributing 48% of overall EBITDA. The solar manuf

Adani Green Energy reported a strong H1 FY2024 with revenue from power supply up 66% YoY to INR 4,029 crore and EBITDA up 58% to INR 3,775 crore, driven by a 78% increase in energy sales to 11,760 million units. The sola

Adani Ports delivered its strongest ever half-yearly result, with H1 FY24 operating revenue of INR 12,894 crore (+26% YoY) and EBITDA of INR 7,429 crore (+49% YoY), driven by record cargo volumes of 203 MMT (+14% YoY) ac

Aditya Birla Capital delivered a strong Q2 FY24 with consolidated revenue up 22% YoY to INR 8,831 crore and PAT up 44% YoY to INR 705 crore. The lending portfolio grew 41% YoY to INR 109,000 crore, driven by NBFC and HFC

ABFRL reported Q2 FY24 consolidated revenue of INR 3,226 crore (+5% YoY) and EBITDA of INR 369 crore (11.4% margin). PAT was negative at INR 200 crore. The quarter was impacted by sluggish discretionary spending, Adhik M

AIA Engineering reported Q2 FY24 revenue of INR 1,273 crore and EBITDA of INR 444 crore (34.32% margin), driven by favorable product mix, lower raw material costs, and rupee depreciation. Sales volume was 77,725 metric t

Ajanta Pharma delivered a solid Q2 FY24 with consolidated revenue of INR 1,028 crore (+10% YoY) and EBITDA of INR 291 crore (+48% YoY), driven by strong US generics growth (+28% YoY) and margin expansion from lower logis

Alkem delivered a strong Q2 with 12% YoY revenue growth and EBITDA margin of 21.7%, well above the full-year guidance of ~16.5%. PAT came in at ~INR 620 crore, supported by gross margin expansion to ~61% from raw materia

Apar Industries delivered a strong Q2 FY24 with consolidated revenue of INR 3,926 crore (+21% YoY), EBITDA of INR 374 crore (+58% YoY), and PAT of INR 174 crore (+69% YoY). EBITDA margin expanded 220bps to 9.5%, driven b

Apollo Hospitals reported a robust Q2 FY24 with consolidated revenue of INR 4,847 crore (+14% YoY) and EBITDA of INR 628 crore (+11% YoY). Healthcare services revenue grew 12% to INR 2,547 crore, driven by 18% growth in

Ashok Leyland reported a strong Q2 FY24 with EBITDA margin of 11.2%, driven by robust MHCV volumes, market share gains (31.9% in Q2 vs 31.2% in Q1), and a 95% YoY growth in bus volumes. The company achieved historic high

Asian Paints reported a muted Q2 FY24 with decorative paint volume growth of 6% YoY but value growth flat, impacted by weak consumer sentiment and erratic monsoons. However, gross margins expanded to 43.9% (up ~770bps Yo

Astral delivered a strong Q2 FY24 with consolidated revenue growth of 16.3% YoY and EBITDA margin expansion to 17.1% (up 390 bps YoY), driven by 28% volume growth in the core pipes business. The plumbing segment EBITDA m

AU Small Finance Bank reported Q2 FY24 PAT of INR 402 crore, up 17% YoY, driven by strong fee income growth from insurance and credit cards. NIM stood at 5.5%, with pressure from structural mix shift toward lower-yieldin

Aurobindo Pharma delivered a strong Q2 FY24 with revenue of INR 7,219 crore (+25.8% YoY), EBITDA of INR 1,403 crore (+67.7% YoY), and PAT of INR 752 crore (+83.6% YoY). EBITDA margin expanded to 19.4% (+260 bps YoY), dri

Axis Bank delivered a strong Q2 FY24 with PAT of INR 5,864 crore (+10% YoY) driven by robust core operating profit growth of 19% YoY in H1. NIM remained stable at 4.11%, supported by improved loan mix and RIDF reduction.

Bajaj Auto delivered a record quarter with revenue of ₹10,777 crore (up 6% YoY), EBITDA of ₹2,133 crore (up 21% YoY), and PAT of ₹1,836 crore. Margins expanded 260 bps YoY to 19.8%, driven by favorable commodity costs, r

Bajaj Finance reported a strong Q2 FY24 with PAT of ₹3,551 crore, up 28% YoY, driven by robust AUM growth of 33% to ₹290,664 crore and disciplined cost management. The company added 3.58 million new customers, taking the

Bajaj Finserv delivered a strong Q2 FY24 with consolidated revenue up 25% YoY to INR 26,023 crore and PAT up 24% YoY to INR 1,929 crore. Growth was driven by robust performance across subsidiaries: BAGIC reported a 95.3%

Bandhan Bank reported a strong Q2 FY24 with PAT surging 245% YoY to INR 721 crore, driven by improved collection efficiency and lower credit costs. Advances grew 12.3% YoY with secured loan share reaching 44%, up from 38

Berger Paints reported a moderate Q2 FY24 with standalone revenue growth of 2.8% YoY to ₹2,439.84 crore, impacted by extended monsoons and delayed festive season. However, volume growth remained strong at 10.9%, and EBIT

BPCL reported a stellar Q2 FY24 with PAT of ₹8,501 crore, driven by robust refining margins (GRM of $18.49/bbl) and strong marketing performance. The Bina refinery operated at 105% capacity despite a planned shutdown, be

Bharti Airtel reported consolidated revenues of approximately INR 37,000 crore for Q2 FY24, impacted by currency devaluation in Africa. India mobile revenue grew 2.3% sequentially, with ARPU improving to INR 203 from INR

Biocon's Q2 FY24 consolidated revenue from operations grew 49% YoY to INR 3,462 crore, driven by biosimilars revenue nearly doubling post-Viatris acquisition. Core EBITDA rose 35% to INR 1,100 crore with a 32% margin, bu

Bosch Limited reported Q2 FY24 revenue of INR 4,130 crore, up 12.8% YoY, driven by 11.7% growth in Mobility Solutions and 9.9% in Beyond Mobility. PAT surged to INR 999 crore (vs INR 372 crore YoY), boosted by a one-time

Britannia reported Q2 FY24 revenue of ₹4,370 crore, flat YoY, with volume growth of just 20 bps. EBITDA grew 21% to ₹801 crore, with margins expanding to 18.3% driven by cost efficiencies and benign input costs. Revenue

Canara Bank reported a strong Q2 FY24 with net profit surging 42.81% YoY to INR 3,606 crore, driven by 19.76% YoY NII growth and improved asset quality. Gross NPA fell 161 bps YoY to 4.76%, while PCR improved to 88.73%.

CDSL reported a strong Q2 FY24 with consolidated total income of INR 230 crore (+35% YoY) and net profit of INR 109 crore (+35% YoY), driven by robust Demat account additions (80.28 lakh net new accounts, +67% YoY) and h

Cipla delivered a record quarter with revenue of ₹6,678 crore (+15% YoY) and EBITDA margin of 26%, driven by double-digit growth across India (+10%), North America (+28% to $229M), and South Africa (+12%). The India busi

Coal India reported a solid H1 FY24 with production up 12% YoY and offtake up 9% YoY, driven by robust power demand (33% growth in October). Management reiterated the FY24 production target of 780 million tons and FY25 t

Coforge delivered a strong Q2 FY24 with revenue growth of 16.2% YoY in CC terms and an adjusted EBITDA margin of 17.6%, expanding 160 bps sequentially. Growth was broad-based across verticals, with BFSI up 3.8% QoQ and i

Coromandel reported Q2 FY24 consolidated revenue of INR 7,033 crore, down ~31% YoY due to lower subsidy rates, but EBITDA remained flat at INR 1,059 crore and PAT grew 2% to INR 755 crore. EBITDA margin expanded ~470bps

Dabur's Q2 FY24 consolidated revenue grew 7.3% YoY to INR 3,204 crore, with constant currency growth of 10.4%. International business was a standout, growing 23.6% in constant currency. India business ex-beverages grew 6

Divis Laboratories reported Q2 FY24 consolidated PAT of INR 348 crore on total income of INR 1,995 crore, with export share at 87%. Revenue growth excluding COVID portfolio was double-digit YoY, but constant currency gro

DLF delivered a strong Q2 FY24 with consolidated revenue of INR 1,476 crore, EBITDA up 19% YoY to INR 591 crore, and PAT up 29% YoY to INR 629 crore. The company achieved a net cash position of INR 142 crore post dividen

Dr. Reddy's delivered a record quarter with INR 6,880 crore revenue (+9% YoY) and INR 2,181 crore EBITDA (+30% YoY), driven by strong US generics (up 9% to $384M) and Europe (up 12% to EUR 59M). EBITDA margin expanded to

Eicher Motors reported a stellar Q2 FY24 with consolidated revenue of ₹4,115 crore (up 17% YoY), EBITDA of ₹1,087 crore (up 32% YoY), and PAT of ₹1,016 crore (up 55% YoY), all record highs. Royal Enfield volumes grew 14.

Fortis Healthcare reported a strong Q2 FY24 with consolidated revenue of INR 1,770 crore (+10.1% YoY) and operating EBITDA of INR 330 crore (+8.9% YoY). Hospital revenue grew 12% YoY to INR 1,456 crore, with hospital EBI

GAIL reported a strong Q2 FY24 with consolidated PAT of INR 2,344 crore, up 36% QoQ, driven by higher gas trading margins, lower fuel costs, and dividend income. Gas transmission volume rose to 140.31 MMSCMD (up 4 MMSCMD

Gland Pharma reported consolidated revenue of INR 1,373.4 crore in Q2 FY24, up 32% YoY, driven by Cenexi acquisition and US market recovery. EBITDA grew 8% YoY to INR 320.5 crore, but margin contracted to 23% (down 500 b

Glenmark's Q2 FY24 consolidated revenue grew 6.3% YoY to INR 3,588 crore, driven by strong performance in Europe (+58.4%) and ROW (+19%), while India grew only 2.8% due to acute segment slowdown and US declined 1.9% due

GCPL reported Q2 FY24 organic volume growth of 6% and revenue growth of 2%, with EBITDA up 30% YoY. India volumes grew 11% but missed expectations due to poor household insecticide performance from erratic monsoons and a

Godrej Properties reported its most successful quarter ever with new bookings of INR 5,034 crore, up 109% YoY, driven by strong launches like Tropical Isle in Noida (INR 2,000 crore) and Parkland Estate in Kurukshetra (I

Grasim's Q2 FY24 consolidated revenue grew 10% YoY to INR 30,221 crore, with EBITDA up 14% to INR 4,509 crore, driven by cement and financial services. Standalone revenue rose 4% to INR 6,442 crore, while EBITDA jumped 2

GFL reported a weak Q2 FY24 with consolidated revenue of INR 947 crore (down 35% YoY), EBITDA of INR 163 crore (down 70% YoY), and PAT of INR 53 crore (down 85% YoY). The sharp decline was driven by simultaneous headwind

Happiest Minds reported Q2 FY24 revenue of INR 429 crore (+19.3% YoY) and EBITDA margin of 24.4%, above the guided 22%-24% range. Revenue growth was 3.6% QoQ in constant currency, industry-leading. However, management re

Havells India reported a mixed Q2 FY24 with soft consumer demand but healthy B2B growth in industrial switchgears, traditional lighting, and power cables. Lloyd maintained growth momentum, though losses expanded due to u