Quarterly Results : ONGC, Grasim and Others

Quarterly results have been great overall for the Indian companies this time. All the companies have rebounded from their COVID effects and hence posted a good financial result. ONGC’s nets sales rose by 5.22%. Grasim has also posted an increase in net sales to 33462 Crore Rs from 28811 Crore Rs. 

Grasim Industries

The net sales of the company was up by 16.14% for March 2023. The sales for the quarter was 6645 Crore Rs which is 4.23% higher than previous year’s quarterly result of March. The consolidated net profit was 1368 Crore Rs which is 50% lower than 2777 Crore Rs of profit in March 2022. However the quarterly profit was 93.5 Crore Rs which was 91% lower than previous ‘s profit of 1068 Crore Rs. 

The earnings before interest, tax, depreciation and amortisation was 542.46 Crore Rs from 839 Crore Rs in previous year. Hence all the figures of Grasim Industries took a hit except their sales. The consolidated Earnings before interest, tax, depreciation and amortisation was at 4872 Crore Rs which was comparatively higher than previous year’s figure of 4646 Crore Rs. The Earnings per share of the firm took a mighty hit of 21.44 Rs from 42.29 Rs in March 2022 to 20.85 Rs in March 2023. The company has also declared a dividend of Rs 10 per share. 

ONGC

The company’s stock price is valued at 153.50 Rs per share. The consolidated net sales of ONGC was up by 5.22% at 164066 Crore Rs. The company’s net sales for previous year was 155920 Crore Rs. The standalone sales were at 35292 Crore Rs in March 2023 against 34497 Crore Rs in March 2022 which means an increase of 5.2% in the same. The quarterly results display a net loss of 247.7 Crore Rs which is 102.8% less than the profit in March 2022 at  8859 Crore Rs. 

The consolidated net profit was at 3715 Crore Rs which is 64% less than the previous year’s net profit of 10550 Crore Rs. The earnings before interest, tax, depreciation and amortisation was at 23658 Crore Rs against the previous year’s figures of 27139 Crore RS. The standalone figures for the earnings before interest, tax, depreciation and amortisation stand at 13799 Crore Rs in March 2023 against 17393 Crore Rs of March 2022. 

The shares of the company have given 17.3% returns over the last 6 months and a return of 7.8% for the last 1 year. The earnings per share of the firm have decreased from 8.39 Rs in March 2022 to 2.95 Rs in March 2023.  

Vedanta

The net profit for Vedanat was up by 68% to 1881 Crore Rs. The revenue from the operations of the firm was down by 5.4%. The revenue was around 37225 Crore Rs. The earnings before interest, tax, depreciation and amortisation marguin was 29% in the 4th quarter in comparison to 39% in the 4th quarter in March 2022. However the earnings before interest tax, depreciation and amortisation was at 9362 Crore Rs which was 32% higher on a quarterly basis. The overall data for the earnings before interest, tax, depreciation and amortisation was at a 22% low at 35241 Crore Rs than the previous year’s figures. This was due to lower output commodity prices, higher input commodity prices and an offset in foreign exchange gains and strategic hedging.

The company has been successful in generating the highest cash flow it had over the years at 28068 Crore Rs and this would be reinvested in the business and also will be distributed among shareholders. 

Some other figures are the pre-capex cash flow which was 11% more, ROCE at 21%. The aluminium production of the company was at its peak at 2281 kt. The Zinc business made a record metal production increase of 4% at 1062 kt. The gross debt of the firm was at 66182 Crore Rs and the net debt was 45260 Crore Rs. The ratio of net debt to the earnings before interest, tax, depreciation and amortisation stood at 1.28x. 

Adani Power

The net sales of the firm was at 10242 Crore Rs down byu 3.36% in comparison to previous year’s figure of 10597 Crore Rs. The quarterly net profit of the firm was at 5242 Crore Rs in comparison to 4645 Crore Rs in 2022 March which means an increase of 12.85% in the same. The earnings before interest, tax, depreciation and amortisation of the firm was 2460 Crore Rs which is 69% lower in comparison to 7942 Crore in March 2022. The earnings per share have been positive as the same is 12.81 Rs per share in comparison to 11.65 Rs per share in March 2022.