Diversified Sector — Q1 FY24 Earnings Overview
7 companies reported. 5 bullish, 2 neutral, 0 bearish.
Average revenue growth: 14.1%
Sector sentiment: bullish
Aggregate revenue: ₹2,13,454 Cr
Average margin: 5.7%
Company Results
| Company | Revenue | YoY | Margin | Sentiment |
|---|---|---|---|---|
| Bharat Petroleum Corporation | ₹1,28,264 Cr | — | — | bullish high |
| Grasim | ₹31,065 Cr | +11% | — | neutral medium |
| Maruti | ₹30,845 Cr | +22% | — | bullish high |
| Bajajfinsv | ₹23,280 Cr | +47% | 40.0% | bullish high |
| Divislab | — | — | — | neutral medium |
| Mahindra & Mahindra | — | +19% | — | bullish high |
| Sbin | — | — | — | bullish high |
Key sector risks this quarter
Mahindra & Mahindra · high
Tech Mahindra reported its worst quarter ever, and management acknowledged it will take 2-3 years to fix, posing a drag on consolidated earnings.
Grasim · highTextile exports from India have declined for 12 consecutive months, impacting VSF demand and customer profitability.
Grasim · highInternational caustic prices fell 46% from Oct 2022 to June 2023, with further declines expected due to oversupply from China.
Bharat Petroleum Corporation · highManagement noted that crude prices have risen to $82-83/bbl and Russian crude discounts have narrowed sequentially, which could pressure refining margins.
Maruti · highElectronic component shortages caused 28,000 units of lost production in Q1; limited visibility on supplies.