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Biocon is engaged in the business of manufacturing biotechnology products and research services. The company’s quarterly consolidated financials reveal that the operating profit for Q1FY23 was ₹477.30 crore as compared to the operating loss of ₹436.50 crore for Q1FY22. Net sales for Q4FY22 were at ₹2,139.50 crore, recording an increase of 21.52 per cent as compared to net sales of ₹1,760.60 crore in the same quarter last year. The net profit has advanced 27.9 per cent and stands at ₹210.4 crore and the net profit for the same period last year was at ₹164.5 crore. The annual performance of net sales for FY22 reported is ₹8,184 crore compared to last year’s value of ₹7,143.10 crore. The operating profit for FY22 stood at ₹2,182.90 crore as compared to ₹1,907.3 crore for FY21, an increase of 14.45 per cent. The company delivered a net profit of ₹978.5 crore for FY22 as compared to net profit of ₹925.6 crore for FY21, which is a marginal gain of 5.72 per cent. The European Directorate for the Quality of Medicines and Healthcare, a body that establishes ethical and pharmacological standards in Europe, has published a list of deficiencies at the Bengaluru facility of the Indian company Biocon, which is putting pressure on the price of Biocon’s stock right now. Hence, bearing a cautious outlook, we recommend AVOID.





Thirumalai Chemicals is a business having activities in chemicals, surfactants, pigments, and education segments. The company’s quarterly consolidated financial results reported that operating profit for Q1FY23 was ₹99.74 crore as compared to ₹104.35 crore for Q1FY22, a slight decrease of 4.42 per cent. Net sales for Q1FY23 stood at ₹621.05 crore, recording a rise of 56.4 per cent as compared to ₹397.10 crore in the same quarter last year. The net profit was ₹60.05 crore, which was reported to be ₹65.11 crore in Q1FY22, squeezing by 7.77 per cent. On an annual basis, the company reported a positive performance of net sales with ₹1,998.19 crore for FY22, zooming in 84.04 per cent from the previous year’s value of ₹1,085.74 crore. The operating profit reached ₹452.37 crore as compared to ₹227.56 crore for FY21, which swelled by 98.76 per cent. The net profit made was ₹281.23 crore for FY22 as compared to net profit of ₹117.69 crore for FY21, a robust rise of 138.96 per cent. Its main product, Phthalic Anhydride, witnessed high price increases globally which have been strongly aided by the post-pandemic boom in retail and industrial activity within India. Besides, the announcements by the Indian government during the previous fiscal year pertaining to investments in infrastructure projects have augured well for the robust performance of all its customer segments. Hence, we recommend BUY.







Bharat Forge is engaged in metal forging in a number of industries, including mining, oil and gas, construction, railroad, aerospace, automotive and railroad. The company has 10 manufacturing facilities located in India, Germany, Sweden, France and North America, giving it a transatlantic presence. It also is a major supplier of a number of components for the aviation industry, earning it a solid reputation among Indian and international aerospace forging firms. The company’s quarterly consolidated financials reveal that the operating profit for Q1FY23 was ₹460.39 crore as compared to the operating profit of ₹491 crore for Q1FY22.  Net sales for Q1FY22 were at ₹2,107.68 crore, whereas for Q1FY23 it has recorded a jump of 35.29 per cent by standing at ₹2,851.46 crore. The net profit was also seen on the higher side and stands at ₹162.84 crore since Q1FY22 which delivered net profit of ₹161.86 crore. Analysing the annual performance, the net sales for FY22 reported is ₹10,461.08 crore compared to last year which was ₹6,336.26 crore. The operating profit for FY22 zoomed by more than 114 per cent and stood at ₹2,211.84 crore as compared to ₹1,030.64 crore for FY21. The company has delivered net profit of ₹1,110.08 crore for FY22 as compared to net loss of ₹96.99 crore for FY21. The market is shifting towards lightweighting components for electric vehicles as it represents a considerable growth opportunity This for BFL in coming years will benefit both in terms of top-line and margin in the e-mobility components and system business segment. For both local and international markets, the demand for the vehicle category is growing strong. Tork Motors, in which BFL owns 49 per cent stake, has received FAME II approval and will start delivering its first EV bike in April. Additionally, it has received orders for manufacturing parts for EVs in the LCV market. The revenue for the quarter grew by 35 per cent YoY on the back of a sharp recovery and a pass through of steel price inflation. Hence, we recommend BUY.




Tata Consultancy Services (TCS) is a flagship business and a constituent of the Tata Group. It is an IT services, consulting and business solutions organisation that has been partnering with many of the world’s largest businesses in their transformation journeys for over 50 years. TCS provides a range of business, technology and engineering services and solutions that are led by consulting and powered by cognitive technology. The company’s quarterly consolidated financials reveal that the operating profit for Q2FY23 was ₹15,481 crore as compared to the operating profit of ₹14,227 crore for Q2FY22, which has improved by 8.81 per cent.  The net sales for Q2FY23 were at ₹55,309 crore, recording a gain of 18.01 per cent as compared to net sales of ₹46,867 crore in the same quarter last year. The net profit has also consequently increased and stands at ₹10,465 crore whereas in Q2FY22 it stood at ₹9,653 crore. The annual performance of net sales reported is ₹191,754 crore as compared to last year’s value of ₹164,177 crore. The operating profit for FY22 stood at ₹57,075 crore as compared to ₹49,680 crore for FY21, showing a gain of 14.89 per cent. The company has delivered net profit of ₹38,449 crore for FY22 as compared to net profit of ₹32,562 crore for FY21, registering a gain of 18.08 per cent. From a long-term perspective, TCS has built a resilient business model by securing multiple long-term contracts with the world’s leading brands.  There have been several significant business orders for the digital transformation of operations in the data centre and network, digital workspace and customer experience. Areas which saw the most growth in Q2 include digital F and A, agile supply chain and human capital management services. Deal successes in the UK and Europe were described by management as being positive and improving QoQ profits. On the inorganic growth front, the management commented that it is sharply focused on making the right investments to power its expansion in the growth and transformation opportunity while sustaining industry-leading profitability. Hence, we recommend HOLD. 






 

International Travel House (ITH), the first publicly traded travel agency in the nation, started operations in 1981. ITH has grown to be one of India’s most admired travel firms. It has wide range of product offerings, substantial national reach, high reputation for service quality and dependability (ISO 9001:2015 certified) and impressive clientele. The company’s quarterly consolidated financials reveal that the operating profit for Q2FY23 was ₹5.81 crore as compared to the operating loss of ₹1.89 crore for Q1FY22. The net sales for Q2FY23 stand at ₹45.39 crore, recording an increase of 92.59 per cent as compared to net sales of ₹23.57 crore in the same quarter last year.

The net profit has also been on the higher side and stood at ₹4.52 crore since the same period last year which recorded a net loss of ₹3.67 crore. The annual performance of net sales reported is ₹94.21 crore compared to last year’s value of ₹59.39 crore. The company recorded an operating loss for FY22 of ₹4.33 crore as compared to ₹35.35 crore for FY21. The company has reported a net loss of ₹10.70 crore for FY22 as compared to net loss of ₹45.06 crore for FY21, recording a substantial decrease. The company has delivered the highest ROCE of 8.88 per cent for FY22. 

Also, ITH recorded the highest earning per share (EPS) of the year in the last quarter at ₹5.66. The company has outperformed both the Sensex by 148.18 per cent and the sector by 115.69 per cent in the past year. Whereas on a three-year basis the Sensex has delivered nearly 50 per cent return, International Travel House stocks have appreciated by 166 per cent in the same period. The shares of ITH have returned 143.16 per cent on YoY basis. The company has a beta of 1.50 with Sensex, which is high. High beta stocks perform well in a bull market. The promoter holdings in the company stand at 61.69 per cent, which shows that they are confident in the future of the company. Hence, we recommend BUY. 

Container Corporation of India with the widest network and strategic tie-ups in India is now an indisputable industry leader. It has grown to include managing ports, air cargo complexes and building cold chains in addition to providing inland rail transit for containers. The business has created multimodal logistics assistance for domestic and international containerization and trade in India. The company’s quarterly consolidated financials reveal that the operating profit for Q1FY23 was ₹547.26 crore as compared to the operating loss of ₹495.05 crore for Q1FY22. Net sales for Q1FY23 were at ₹1,993.99 crore, recording a rise of 9.56 per cent as compared to net sales of ₹1,819.94 crore in the same quarter last year. 

As a result, the net profit has also increased and stands at ₹294.03 crore, witnessing a gain of 17.04 per cent since Q1FY22 which was at ₹251.22 crore. The annual performance of net sales for FY22 reported is ₹7,652.73 crore compared to last year’s value of ₹6,427.08 crore. The operating profit for FY22 gained traction, rising by 51.42 per cent and stood at ₹1,994.36 crore as compared to ₹1,317.14 crore for FY21. The company’s net profit for FY22 was ₹1,028.37 crore, up from ₹469.23 crore for FY21, representing an admirable growth of 119.16 per cent.

The company has grown its infrastructure over time, and it now runs 61 terminals across India, of which six are dedicated to import-export trades, 36 are integrated container terminals and 17 are dedicated to domestic trade. Additionally, the company has established two strategic partnerships in various places. The business is putting greater emphasis on profitability and is still focusing more on long-haul profitable routes where there is less competition. Container Corporation of India is also enhancing its value-added services and looking to generate higher margins from terminal handling and logistics solutions. While the export-import volumes grew 8 per cent YoY, domestic volumes spiked 32 per cent YoY in FY22. Hence, we recommend HOLD.