Trackpad

This Tata Group Company has entered into a plant-based meat business.

The Tata Group to increase its total addressable market has decided to introduce a new business segment into its core operation by entering the plant-based meat business. Through this, the company will be targeting new customers who want to use more plant-based ingredients without sacrificing taste to improve their health and avoid harming animals for their protein needs, or other factors. The company we are talking about is Tata Consumer Products Ltd. The company will operate this new segment under the brand name “Tata Simply Better”. Under this segment, the company has introduced 4 tasty plant-based alternatives- Spicy Fingers, Awadhi Seekh Kebab, Burger Patty, and Nuggets.

These products are rich in protein and don’t contain any added preservatives, artificial coloring, or flavours. The uniqueness of these products when we compare them with regular meat is that, unlike regular meat which needs to be refrigerated, they can be stored at a normal room temperature without getting spoiled or damaged.

These products will be available across India in selected retail stores and on online e-commerce platforms with a price range of ₹350 to ₹450.

Tata Consumer Products Ltd is the world’s second-largest tea seller. As of the March period ending, the company has a ROE, ROCE, and dividend yield of 6.51 per cent, 9.61 per cent, and 0.74 per cent, respectively.

Anupam Rasayan India reports strong results for Q1FY23 

Anupam Rasayan India Ltd, one of India’s leading custom synthesis & speciality chemical players, has announced its financial results for the quarter ended June 30, 2022.

Financial highlights: 
✓Its operating revenue stood at ₹306.6 crore in Q1FY23 as compared to ₹233.7 crore in Q1FY22, a growth of 31 per cent YoY.
✓The total revenue was reported at ₹297.1 crore in Q1FY23 as compared to ₹238 crore in Q1FY22, rising 25 per cent YoY.
✓ EBITDA (incl. other revenue) stood at ₹84.5 crore in Q1FY23 as compared to ₹65 crore in Q1FY22, increasing 30 per cent YoY.
✓Profit after tax was registered at ₹39.7 crore in Q1FY23 as compared to ₹32.1 crore in Q1FY22, advancing 24 per cent YoY.

On this, Anand Desai, Managing Director of Anupam Rasayan, commented, “I am happy to inform you that we delivered robust growth in Q1FY23 against the backdrop of an uncertain global environment. Our operating revenue grew by 31 per cent on a year-on-year basis. Our focus on financial prudence and operational finesse has helped us keep our margins at sustainable levels. During the last financial year, our ability to ensure continuous supply to our customers has resulted in customers revising their volume guidance upwards for the current financial year along with the increase in the price of these products”

He further added, “Tanfac Integration is progressing smoothly with the successful integration of key areas like finance, IT & HR and I am happy to share that we have successfully expanded the capacity of certain Tanfac products with process improvement and debottlenecking.”

Overall, I believe that we have an exciting year ahead of us and we, at Anupam, are all geared up to deliver strong sustainable growth in FY23,” he concluded.

This renewable energy multibagger company crosses ₹100 crore mark in quarterly revenues!

The company recently informed the exchange that for Q1FY23, it has crossed the important revenue milestone of ₹100 crore, which is a strong harbinger of growth, keeping in mind that the company had reported total standalone revenue of ₹155.85 crore during FY22.

The company believes that the solid results illustrate the ongoing positive momentum in the renewable energy sector and remains optimistic about the remaining period of this fiscal year. The company continues to grow its national footprint while concurrently increasing its project sizes, which testifies to its sharpening project delivery skills.

In the first week of July, the company signed a term sheet to pick up a majority stake in a US-based electric vehicle manufacturing startup. The investment is intended to accelerate the company’s plan to deliver a robust domestically-manufactured EV in India. With this deal, the company foresees an increment in revenue by ₹500 crore-₹600 crore for FY24.

Gensol Engineering Ltd is engaged in the business of solar consulting and EPC. The company's services include solar advisory, solar EPC, solar O&M along with solar monitoring & analysis. It also provides dedicated consultancy services for extra-high voltage (EHV) transmission lines.

Raghav Productivity Enhancers and Capital Refractories partner to globally supply silica ramming mass

Raghav Productivity Enhancers and UK-based Capital Refractories have partnered for worldwide supply of silica ramming mass to the foundry and casting industry.

With its foundry & casting customers, Capital Refractories will use its global distribution network to expand the silica ramming mass business. One of the biggest refractory companies in the world, Capital Refractories, is based in the UK. It has 67 locations throughout a refractory distribution network that spans six continents. It has manufacturing facilities dispersed across eight countries.

Raghav Productivity Enhancers, which invented the fully-automated silica ramming mass plant, applied for a global process patent in October 2018. It is the only business in the mineral industry with a government-approved research & development facility that received approval from the Department of Scientific & Industrial Research (DSIR). The company’s ability to produce products with the greatest degree of cost-effective customisation for its clients has helped it take the lead in the mass market for silica ramming worldwide.

For its new ramming mass plant, Rakesh Jhunjhunwala invested `30.90 crore in the company. The plant will begin its operations in October 2022 after being set up, using the company's proprietary process. Besides, Ramesh Damani, Utpal Sheth, Mukul Agrawal, LN Bangur, and Prateek Kela were among the notable capital market investors, who made investments in the company earlier in 2021.

Polycab India outperforms due to positive results!

Polycab India is a top gainer of BSE Capital Goods index today. Its revenue stood at ₹2,780.9 crore, growing by 48 per cent YoY with broad-based growth across segments & markets. Profit before tax for Q1FY23 was reported at ₹294.7 crore, marking a 203 per cent rise from Q1FY22. The net profit also soared 195.7 per cent to ₹222.54 crore for the quarter ended on June 30, 2022, as compared to the same period, a year ago.

EBITDA margin improved 420 bps YoY to 11.3 per cent, led by calibrated price hikes and better operating leverage.

Its wires & cables business saw a strong growth of 48 per cent YoY. While its domestic distribution-driven business sustained its strong growth momentum, institutional business improved its performance compared to the same quarter last year. Export contributed 6.7 per cent to consolidated revenue & posted healthy revenue growth of 62 per cent YoY.

The company’s FMEG business grew by 59 per cent YoY to ₹305.2 crore. Lighting, switchgear, and pump continued their strong growth momentum while fans, conduit pipes & solar business posted healthy growth. However, switches saw a decline due to supply challenges. The company remains committed to achieving ₹20000 crore in sales by FY2026

Polycab India Limited (PIL) is India’s largest manufacturer of wires & cables and one of the fastest-growing FMEG companies with a consolidated turnover of over ₹12200 crore in FY22. PIL is at the forefront of providing innovative, safe & energyefficient products to a diverse set of customers via a strong distribution network of more than 4,600 authorised dealers and over 2,05,000 retail outlets. PIL’s business operations span across India via 23 manufacturing facilities, over 15 offices, and 25 plus warehouses.

LIC sells a stake worth ₹3882 crore in Sun Pharmaceutical Industries

I ndian state-owned insurance group and investment company, Life Insurance Corporation of India (LIC) has sold around 2 per cent stake in India’s largest pharmaceutical company, Sun Pharmaceuticals Industries Ltd. LIC sold its 2 per cent stake between the period of May 17, 2021, and July 22 2022. The average selling price for LIC stood at ₹808.02 a share. LIC previously held 16,85,66,486 quantity of shares and now it holds 12,05,24,944 equity shares of Sun Pharmaceuticals, selling ₹3,881.85 crore worth of stake in the company.

Sun Pharmaceutical Industries Ltd produces, develops, and sells a wide range of branded and generic formulations, as well as Active Pharmaceutical Ingredients (APIs). The company and its subsidiaries have about 43 manufacturing facilities worldwide. The company’s revenue can be categorized into 5 segmentsIndia branded formulations (which contribute 31 per cent to the total revenue), US formulations (30 per cent), emerging markets (18 per cent), rest of the world (ROW) (15 per cent), and API & others (6 per cent). Talking about company financials, the 10-year sales and net profit growth look decent at 17 per cent and 10 per cent, respectively. However, the 5-year growth numbers remain poor at 4 per cent, and -1 per cent, respectively.

The company has an ROE, ROCE, and dividend yield of 14 per cent, 18.4 per cent, and 0.81 per cent, respectively, as per the March period ending. With a market value of ₹207,566 crore, the company's shares are currently trading at a PE multiple of 31.4x. Regarding the shareholding structure, the promoters own about 54.48 per cent of the company, FIIs and DIIs together own 34.61 per cent, and non-institutional investors own the remaining 10.91 per cent.