Stocks to watch: Mankind, TechM, IndiGo, Adani Green, DLF, Ashok Leyland

Mankind Pharma: The company is set to acquire Bharat Serums & Vaccines (BSV) from Advent International for approximately ₹13,630 crore. This acquisition positions Mankind Pharma as a leader in the Indian women’s health and fertility drug market and provides access to high entry barrier products in critical care. Swedish private equity firm EQT and the Abu Dhabi Investment Authority (ADIA) consortium were also bidders in the acquisition process.

Tech Mahindra: The company reported a 29% sequential increase in net profit to $102 million for the quarter ended June 2024, driven by a 14% drop in subcontracting costs. Its revenue rose 0.7% sequentially to $1.56 billion, with significant growth in its healthcare business. Despite the positive results, analysts had expected higher profits. The company aims to increase its operating margin to 15% by March 2027 through its cost management programme, Project Fortius.

IndiGo: The airline will declare its Q1FY25 results on 26 July, following challenges such as the collapse of the roof at Delhi airport and the global outage of Microsoft services. The airline’s domestic market share increased to 61%, and it saw growth in both domestic and international departures. IndiGo’s capacity by Available Seat Kilometres (ASK) grew by 11% compared to the same quarter last year. The airline’s revenue will depend on compensation from Pratt & Whitney for lost revenue due to grounding. IndiGo is expected to report a profit, continuing its streak of seven straight quarters of profits.

Adani Green Energy: The company reported a 95% increase in consolidated net profit to ₹629 crore for Q1FY25, compared to ₹323 crore in the same period last year. Total income rose 22.5% to ₹3,122 crore. The growth was driven by a capacity addition of 2,618 MW, expanding operational capacity by 31% YoY to 10,934 MW. CEO Amit Singh highlighted the development of a 30 GW renewable energy plant in Khavda, Gujarat, using advanced robotics for solar module installation.

DLF: The company reported a 23% increase in consolidated profit to ₹645.61 crore for Q1FY25, up from ₹527 crore in the same period last year. Total income rose to ₹1,729.82 crore from ₹1,521.71 crore.

Ashok Leyland: The company’s Q1FY25 results showed an 11.2% rise in EBITDA to ₹912 crore, with a margin increase to 10.6%. Revenue grew 5% YoY to ₹8,599 crore. However, net profit fell 8.7% to ₹526 crore due to a one-time tax implication. Chairman Dheeraj Hinduja noted the industry’s growth momentum and the company’s focus on electric vehicles through its subsidiary, Switch Mobility.

Nestle India: The company reported a 7% increase in net profit to ₹746.6 crore for Q1FY25, with revenue rising 3.3% to ₹4,814 crore. Despite challenges like food inflation and volatile commodity prices, the company saw growth across product groups. EBITDA grew 4.3% to ₹1,103 crore, with a margin of 22.9%. E-commerce contributed 7.5% of domestic sales, growing at double digits.

Ramco Cements: The company reported a 55% YoY decline in net profit to ₹35.5 crore for Q1FY25. Revenue from operations dipped 6.8% to ₹2,088.4 crore. EBITDA fell 6.4% to ₹319.5 crore, with a margin of 15.3%. The company attributed the decline to weak demand and a drop in cement prices.

Jupiter Wagons: The company reported a 46% YoY increase in net profit to ₹91.9 crore for Q1FY25. Revenue from operations rose 16.8% to ₹879.9 crore. EBITDA jumped 41.1% to ₹136.7 crore, with a margin of 15.5%. The company’s wheelset manufacturing subsidiary saw a five-fold increase in revenue. Its order book stood at ₹7,028.34 crore.

Axis Bank: The bank’s Q1FY25 results were mixed, with a net profit of ₹6,035 crore, up from ₹3,452 crore last year, but down 15% sequentially. Asset quality worsened, with gross NPAs rising to 1.54%. Brokerages had mixed reactions, with some downgrading the stock and others maintaining a buy rating but lowering target prices.

Mphasis: The company reported a 2.1% YoY increase in net profit to ₹404 crore for Q1FY25. Revenue rose 4.6% YoY to ₹3,422 crore. The company saw steady improvement in client demand and a strong deal pipeline. Operating margin grew 10 bps sequentially to 15%. The company’s headcount decreased by 1,019 employees to 31,645.

United Breweries: The company, controlled by Heineken NV, reported a 27.47% rise in consolidated net profit to ₹173.80 crore for Q1FY25, up from ₹136.34 crore a year ago. Revenue from operations increased by 10.83% to ₹5,811.28 crore. The growth was driven by a 5% volume increase and a 44% rise in the premium segment. Gross profit margin improved by 247 bps. Total expenses rose 10% to ₹5,585.19 crore. UBL invested ₹47 crore in Capex for supply chain initiatives.

PNB Housing: The company reported a 25% increase in net profit to ₹433 crore for Q1FY25, up from ₹347 crore a year ago. Gross NPAs declined by 241 bps to 1.35%, and net NPAs fell to 0.92%. Disbursements grew 19% YoY to ₹4,398 crore, with retail disbursements constituting 99%. Net Interest Income rose 4% YoY to ₹651 crore. Operating expenditure increased by 27% YoY to ₹190 crore. The stock closed at ₹780.60 on BSE, up 0.55%.

JM Financial: The company reported a 6.2% YoY decline in net profit to ₹60.4 crore for Q1FY25. Revenue from operations fell 5.4% to ₹219 crore. EBITDA declined 8% to ₹167.9 crore, with a margin of 76.7%.

Venus Pipes & Tubes: The company reported a 58% increase in PAT to ₹27.55 crore for Q1FY25, driven by higher exports. Revenue from operations rose 34% to ₹240.1 crore. Export revenue jumped eight times to ₹60.9 crore. The company saw strong growth in the seamless and welded pipes segments, with significant order inflows from the oil and gas sector.

Go Digit General Insurance: The company reported gross written premium growth of 22.1% to ₹2,660 crore, compared to ₹2,178 crore in the corresponding quarter last year. Go Digit's profit jumped 74.1% to ₹101 crore in Q1FY25, compared to ₹58 crore in the same quarter last year. Assets under management rose 33.3% to ₹17,773 crore, compared to ₹13,337 crore in the previous year quarter while combined ratio fell to 105.4% from 106.2% earlier.

Glenmark Life Sciences: The company's profit fell 17.7% to ₹111.5 crore in Q1FY25, compared to ₹135.5 crore in the same quarter previous year. Revenue grew 1.8% to ₹588.6 crore, compared to ₹578.5 crore in the year-ago period.

Mahanagar Gas: The company's profit rose 7.4% to ₹284.5 crore, compared to ₹265 crore in the same quarter last year. Revenue (excluding excise duty) rose 1.4% to ₹1,589.6 crore, compared to ₹1,567 crore in the corresponding quarter last year.

Chalet Hotels: The company's consolidated Q1FY25 profit plunged 31.6% to ₹60.6 crore, from ₹88.7 crore in the same quarter last year. Revenue grew 16.2% to ₹361 crore, compared to ₹310.8 crore in the year-ago period. Tax expenses in the quarter came in at ₹17.07 crore, compared to a tax write-back of ₹51.5 crore in the year ago period.

Aavas Financiers: The company reports a 15% increase in profit in Q1FY25 to ₹126.1 crore, compared to ₹109.7 crore in the corresponding quarter last year. Revenue grew 16.2% to ₹542.4 crore, compared to ₹466.8 crore in the year-ago period, while assets under management rose 22% to ₹17,841.5 crore, compared to ₹14,650 crore in the same quarter lasy year. The company's disbursements rose 13% to ₹1,210.9 crore, compared to ₹1,068.2 crore in the same quarter last year.

Praj Industries: The company's consolidated net profit jumped 43.5% to ₹84.2 crore in Q1FY25, compared to ₹58.7 crore in the corresponding quarter last year. The company's revenue fell 5% to ₹699.1 crore, compared to ₹736.7 crore in the year ago period.

Motilal Oswal Financial Services: The company's profit grew 68% to ₹883.6 crore, compared to ₹526.1 crore in the corresponding quarter last year. Revenue jumped 54% to ₹2,312.3 crore, compared to ₹1,501.5 crore in the year ago period.

SJVN: The company has received a Letter of Intent for the allotment of the Darzo Lui pumped storage project from the Government of Mizoram with an installed capacity of 2,400 MW the estimated cost of the project upon completion is ₹13,947.50 crore.

Sobha: Anamudi Real Estates LLP, a privately-held arm of the Godrej family, is likely to sell a 5% stake in Sobha through block deals for $100 million CNBC-TV18 reported citing sources Anamudi Real Estates holds a 9.99% stake in the real estate company.

NHPC: The company has appointed Sanjay Kumar Singh as director of projects. Singh has expertise in power and infrastructure projects in the Himalayan terrain, including Uttarakhand, Himachal Pradesh, and Bhutan. He was previously the chief general manager at SJVN.

Bajaj Finserv: The company’s Vidal Healthcare plans to roll out two new services annually, with maternity services launching in H2FY25. The company focuses on creating a differentiated value proposition in the TPA industry, offering hospitalization as a service.

Magadh Sugar & Energy: Sudershan Bajaj has resigned as Chief Financial Officer of the company due to personal reasons effective July 31.

IndusInd Bank: The bank is expected to report double-digit growth in profit and NII for Q1FY25, driven by healthy loan growth. NII is estimated to rise 13.6% YoY to ₹5,533 crore, and profit is expected to climb 11.6% YoY to ₹2,370 crore. The bank reported 16% YoY growth in net advances and 15% YoY growth in deposits. Gross NPA ratio is estimated to remain stable at 1.9%.

Jagsonpal Pharmaceuticals: The company will sell its Faridabad facility to Regalia Laminates LLP for ₹41 crore. The facility was not operational and did not contribute any revenue last year. The sale is expected to be completed by October 31, 2024.

Chennai Petroleum Corporation: The company reported a 38% YoY decline in net profit to ₹342.6 crore for Q1FY25. Revenue from operations dipped 3.5% to ₹17,095 crore. EBITDA declined 25.7% to ₹663.6 crore, with a margin of 3.9%.

Texmaco Rail & Engineering: The company acquired 100% shareholding in Jindal Rail Infrastructure Limited for around ₹615 crore. The acquisition aims to expand Texmaco’s rolling stock business. The transaction is subject to certain adjustments at closing.

DCB Bank: The bank reported a 3% YoY increase in net profit to ₹131.4 crore for Q1FY25. NII increased 5.5% to ₹496.6 crore. Gross NPA stood at 3.33%, and net NPA at 1.18%. Advances grew 19% YoY, and deposits increased 20%. The capital adequacy ratio was 15.95%.

AU Small Finance Bank: The bank reported a 29.9% YoY rise in net profit to ₹502.57 crore for Q1FY25. Gross NPA ratio stood at 1.78%, and net NPA ratio at 0.63%.

Ujjivan Small Finance Bank: The bank reported a 7% YoY decline in net profit to ₹301 crore for Q1FY25. Gross NPA ratio rose to 0.29%, and net NPA ratio to 0.41%. Provisions increased by 320% to ₹110 crore.

Bharti Airtel: Bharti Airtel-owned Airtel Africa reported a consolidated net profit of $7 million for Q1FY25, compared to a $170 million loss a year ago. Revenue fell 16% to $1,156 million due to currency devaluation. The company’s EBITDA margin declined to 45.3%. Total customer base grew by 8.6% to 155.4 million.