JSW Steel has reported its highest-ever consolidated crude steel production for the third quarter of FY 2024-25, reaching 7.03 million tonnes (Mnt), marking a 4% increase quarter-on-quarter (QoQ) and a 2% increase year-on-year (YoY).

Steel Production Details

The company stated that the strong performance was driven primarily by Indian operations, which achieved a record production of 6.82 Mnt in Q3 FY25, up by 3% both QoQ and YoY. However, the production and capacity utilisation were temporarily affected by maintenance activities at one of the blast furnaces at the Dolvi plant in October 2024. The furnace resumed normal operations in early November.

The company also reported a capacity utilisation of 91% for its Indian operations in Q3 FY25, excluding trial-run production. The breakdown of production includes 0.21 Mnt from JSW Steel USA (Ohio) and 6.82 Mnt from Indian operations, including 0.12 Mnt from trial runs.

JSW Steel is progressing with its 5 million tonnes per annum (MTPA) integrated steel project at Vijayanagar, spearheaded by its wholly-owned subsidiary JSW Vijayanagar Metallics Ltd. (JVML). During Q3 FY25, JVML commissioned one of the two converters and castors at its steel melt shop. The full ramp-up of this facility is expected by Q4 FY25, increasing the total crude steel capacity at Vijayanagar from 29.2 MTPA to 34.2 MTPA.

For the nine months ending December 31, 2024, JSW Steel’s consolidated production was 20.16 Mnt, an increase from 19.89 Mnt in the same period the previous year. This was boosted by growth in Indian operations and steady performance at JSW Steel USA.

On January 10, 2025, JSW Steel share price opened at ₹890.95, touching the day’s high at ₹896.05, as of 10:58 AM on the NSE.

 

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Kalyan Jewellers India Limited has been in focus on Friday. On January 10, 2025, Kalyan Jewellers share price opened at ₹660.00, down from its previous close of ₹662.55. At 11:08 AM, the share price of Kalyan Jewellers was trading at ₹647.60, down by 2.26% on the NSE. The stock price touched its 52-week high recently on January 2, 2025, at ₹795.40.

Q3 FY 2025 Update

Earlier this week, the company reported a successful Q3 FY 2025, achieving consolidated revenue growth of approximately 39% year-on-year. India operations led the charge, with a 41% increase in revenue compared to Q3 FY2024, driven by strong demand in both gold and studded categories, particularly during the festive and wedding seasons. This period also saw impressive same-store sales growth of around 24%.

In terms of expansion, the company launched 24 new Kalyan showrooms across India, contributing to its increasing market presence, with a strong pipeline of future openings. Internationally, the Middle East market performed well, delivering a 22% revenue growth year-on-year and contributing roughly 11% to the company’s consolidated revenue.

Additionally, the company marked a significant milestone by opening its first Company Owned Company Operated (COCO) showroom in the United States, expanding its footprint into a new market. This strategic move is expected to drive further growth and brand recognition in the international market.

About Kalyan Jewellers India Ltd

Kalyan Jewellers India Ltd is involved in the designing, manufacturing and sale of a range of gold, studded and other jewellery products across different price points. It is one of the largest jewellery retailers in India based on revenue as of FY 2020.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Laxmi Dental IPO is set to launch its IPO on January 13, 2025. It is one of the anticipated upcoming IPOs in India. Here are the key details to note about the Laxmi Dental IPO.

Key Details of the IPO to Note

• Open and Close Dates: Laxmi Dental IPO will open for subscription on Monday, January 13, 2025, and will close on Wednesday, January 15, 2025.
• Allotment Date: The allotment for the IPO is anticipated to be on or before Thursday, January 16, 2025.
• Listing Date: The shares will be listed on the BSE and NSE, with a tentative listing date set for Monday, January 20, 2025.
• Price Band: The price band for the Laxmi Dental IPO is set between ₹407 to ₹428 per share, with a minimum application lot size of 33 shares. Retail investors need to make a minimum investment of ₹14,124.
• Offer Size: The IPO will be a book-built issue amounting to ₹698.06 crore, which includes a fresh issue of 0.32 crore shares of ₹138.00 crore and an offer for sale of 1.31 crore shares of ₹560.06 crore.
• Objects of the Issue: As per the RHP, the proceeds from the fresh issue will be used for the repayment/prepayment, in full or in part, of certain outstanding borrowings availed by the company, for investment in certain subsidiaries for the repayment/prepayment, in full or in part, of certain outstanding borrowings, to fund the capital expenditure requirements for purchase of new machinery for the company, to investment in their subsidiary, Bizdent Devices Private Limited, for the capital expenditure requirements for the purchase of new machinery and for general corporate purposes.

Financial Performance

Strengths and Risks

Strengths:

• Only integrated dental products company in India, well-positioned to capture industry growth.
• Increasing adoption of digital dentistry and large dental networks provide a competitive advantage.
• Robust technological capabilities with stringent regulatory compliance ensuring high-quality standards.

Risks:

• The company has reported a consolidated loss after tax, negative earnings per share for fiscal years 2023 and 2022, and has written off assets in the last three fiscal years. It cannot assure that similar events will not occur in the future.
• The company’s business success relies on expanding its Dental Network, recommendations from the Dental Network, and increasing wallet share per dental clinic, company, and dentist. Failure to achieve this in a cost-effective manner could adversely affect its business, operations, and financial condition.
• The company’s business is concentrated in certain global and domestic jurisdictions, and any loss of business in these regions could negatively impact its operations, results, and financial condition.

About Laxmi Dental Limited

Laxmi Dental Ltd offers a comprehensive portfolio of dental products. Its offerings include custom-made crowns and bridges, branded dental products such as clear aligners, thermoforming sheets, aligner-related products as part of aligner solutions, and pediatric dental products. The company has maintained a presence for over 20 years.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Fabtech Technologies IPO opened for subscription on January 3, 2025 and ended on January 7, 2025.

It was a book-built issue of ₹27.74 crore. The issue was a fresh issue of 32.64 lakh shares. The Fabtech Technologies IPO price band was set at ₹80 to ₹85 per share.

On Day 3 of subscription, January 7, 2025, as of 6:19 PM, Fabtech Technologies IPO was subscribed 740.37 times. QIBs subscribed 224.5x, NIIs subscribed 1,485.52x, and retail investors subscribed 715.05x.

The share allotment was finalised on Wednesday, January 8, 2025, and the shares were listed on the BSE SME platform on January 10, 2025.

Fabtech Technologies Share Price

On the listing day, on the BSE, Fabtech Technologies share price opened at ₹161.50, up from its issue price of ₹85.00. At 10:31 AM, the share price was trading at ₹169.57, up by 5.00% from its opening price of ₹161.50 and 99.49% up from its issue price of ₹85.00. As of the same time, the stock touched its day’s high at ₹169.57. The company’s market cap was ₹208.90 crore.

About Fabtech Technologies Cleanrooms Limited

Fabtech Technologies Cleanrooms is engaged in the manufacturing and delivery of design-to-validation solutions, the company specialises in pre-engineered and prefabricated modular panels and doors for constructing cleanrooms. These cleanrooms cater to the pharmaceutical, healthcare, and biotech sectors and are meticulously designed to maintain a controlled environment, ensuring minimal levels of pollutants, dust, airborne microbes, aerosols, and chemical vapours.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

GTPL Hathway Limited has reported its financial results for the quarter ending December 31, 2024.

Post the announcement, on January 10, 2025, GTPL share price opened at ₹145.00, down from its previous close of ₹146.52. At 10:19 AM, the share price of GTPL was trading at ₹135.46, down by 7.55% on the NSE. Notably, the stock touched its 52-week low at ₹133.13.

Q3 FY 2025 Financial Highlights

The company achieved a total revenue of ₹8,957 million, marking a 4% year-on-year (Y-o-Y) growth. EBITDA for Q3 FY25 stood at ₹1,138 million, reflecting an EBITDA margin of 12.7% and an operating EBITDA margin of 21.8%. Profit After Tax (PAT) for the quarter was ₹102 million.

Operational Highlights

In terms of operational performance, GTPL Hathway’s Digital Cable TV business showed steady growth, with active subscribers reaching 9.60 million as of December 31, 2024, an increase of 200,000 Y-o-Y. Paying subscribers also saw a rise of 2,00,000 Y-o-Y, totalling 8.90 million. The subscription revenue from Cable TV amounted to ₹3,024 million for the quarter.

On the broadband front, GTPL Hathway saw a growth in subscribers, with broadband subscribers increasing by 37,000 Y-o-Y, bringing the total to 1.042 million. The company’s homepass, which represents the network coverage for broadband services, stood at 5.95 million, an increase of 3,50,000 Y-o-Y.

Notably, 75% of the homepass is available for FTTX (Fiber to the Home) conversion. The broadband average revenue per user (ARPU) for the quarter was ₹465 per month, reflecting a ₹5 Y-o-Y increase. Additionally, the average data consumption per user per month was 365 GB, marking a 6% Y-o-Y increase.

GTPL Hathway’s consistent growth across both its Digital Cable TV and broadband segments highlights the company’s strong market position.

Commenting on the results, the Managing Director of GTPL Hathway Limited, Mr Anirudhsinh Jadeja, said, “GTPL continues to consistently grow subscriber base across both business divisions, reflecting our commitment to provide best in class and innovative products and services to our customers. Our focus on providing a holistic experience for our subscribers has enabled us to maintain our position as the largest MSO in the country. We are confident of our growth in upcoming quarters in both the business segments based on favourable industry dynamics towards continued consolidation.”

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Senco Ltd has posted its business update for Q3 and the first nine months of FY25.

On January 10, 2025, Senco share price opened at ₹1,120.00, down from its previous close of ₹1,127.55. At 9:50 AM, the share price of Senco was trading at ₹1,082.80, down by 3.97% on the NSE.

Industry Update

The company stated that the gold prices have experienced a slowdown in their upward movement since early November 2024. After months of record highs, gold prices dropped from a peak of US$2,787 per ounce to US$2,605 per ounce by December 2024, a decline of nearly 6%.

Despite this dip, the gold market continued to show resilience, with a significant increase in prices. In Q3, gold prices increased by 24% year-on-year (YoY), and 8% quarter-on-quarter (QoQ). Indian consumers, driven by the reduction in customs duty, remained committed to buying gold despite rising prices. This sustained demand was particularly evident during the Dhanteras period and in the second week of December.

QIP Update

Senco Ltd successfully raised ₹459 crore through a Qualified Institutional Placement (QIP), allotting equity shares at ₹1,125 per share, which is nearly 3.5 times the IPO price. As a result of this allotment, the company’s equity share capital base has increased from 7.77 crore shares to 8.18 crore shares, marking a notable expansion.

Business Key Highlights

Senco Ltd achieved growth in the third quarter and the first nine months of FY25. The company recorded its highest-ever monthly sales in October 2024, crossing ₹1,000 crore in a single month. In Q3 FY25, the company achieved over ₹2,000 crore in sales, marking another milestone. The total trailing twelve months (TTM) revenue has surpassed ₹6,000 crore, reflecting the company’s steady march toward its annual revenue growth target of 19%-20%.

In terms of growth, Senco reported a 22% YoY revenue increase in Q3 and a 19% YoY growth in the first nine months of FY25. Retail growth was steady at 19% YoY in Q3, with Tier 3 and Tier 4 towns outperforming metro and Tier 2 cities, a trend consistent with broader economic patterns and retail consumption.

The Same Store Sales Growth (SSSG) remained strong in the 13%-14% range, indicating that existing showrooms continue to perform robustly. The stud ratio, a key metric for the company’s product offerings, remained steady at 10.5%, with ongoing investments in marketing, inventory build-up, and customer engagement programs aimed at enhancing this ratio, particularly in northern markets.

The company’s old gold recycling program continued to be a key component of its business, contributing 38% from old gold and 62% from non-sourced gold. This initiative supports the shift from unorganised to organised markets, aligning with industry trends.

Additionally, Senco incorporated a wholly owned subsidiary named Sennes, which will drive its value-creation strategy. Sennes will focus on the consumer lifestyle segment, including premium leather accessories, lab-grown diamond jewellery, and perfumes. The company also witnessed an increase in its Average Selling Price (ASP) and Average Transaction Value (ATV), with both growing by 28% and 14%, respectively, during the nine-month period.

Showroom Network and Expansion

Senco Ltd’s showroom network has expanded to 170, including 69 franchisee showrooms, with 12 new showrooms launched in the last nine months. The new openings include stores in Gwalior (MP), Dehradun (UK), Barakar (WB), and Chandaneshwar (Odisha). Notably, the Dehradun store marks the company’s entry into Uttarakhand, which is considered a significant milestone for Senco. The company is also celebrating the centennial mark in its own showroom portfolio.

Q4 FY25 Outlook

Looking ahead, Senco Ltd is committed to opening 18-20 new jewellery showrooms during FY25, with plans to establish 10-12 franchisee outlets.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Tata Elxsi announced its financial results for the third quarter ending December 31, 2024.

On January 10, 2025, Tata Elxsi share price opened at ₹5,950.00, down from its previous close of ₹6,439.95. At 9:40 AM, the share price of Tata Elxsi was trading at ₹5,949.25, down by 7.62% on the NSE. Notably, the stock touched its 52-week low at ₹5,929.85.

Financial Performance Highlights

The company reported an operating revenue of ₹939.2 crore. The company achieved an operating EBITDA of ₹246.6 crore, with an EBITDA margin of 26.3%. Profit After Tax (PAT) stood at ₹199.0 crore, reflecting a PAT margin of 20.3%.

Commenting on the performance, the CEO and Managing Director of Tata Elxsi, Mr Manoj Raghavan, said, “We continue to see positive outcomes of our strategic business focus on Japan, emerging markets and capitalising on the India opportunity. During the quarter, our revenue from India has grown by 21.9% YoY, while Japan and emerging markets grew at 66.8% YoY. This will serve us well over the next few quarters even as we navigate geopolitical uncertainty, currency volatility and industry-specific challenges in Europe and the US.”

Strategic Initiatives and Developments During the Quarter

He also stated that the automotive industry faced significant business challenges in recent months, with OEMs, particularly in the US and Europe, reporting sales and growth difficulties in their key markets. These challenges have affected new deal closures and Tier 1 supplier spending. Despite this challenging environment, Tata Elxsi successfully secured and executed large deals during the year, showcasing its ability to deliver differentiated value to customers. The company has managed to protect and grow its revenues, even during a difficult quarter for the global automotive industry.

During the quarter, TTata Elxsi established an Offshore Development Centre for Suzuki Corporation, Japan, to support their global technology and engineering development. The centre will play a key role in accelerating innovation across Connected, Autonomous, and Electric technologies.

The CEO and MD stated that Tata Elxsi unveiled its AVENIR SDV software suite, a cloud-native virtual development platform powered by Qualcomm’s Snapdragon Digital Chassis.

The suite offers solutions for accelerating the software-defined vehicle (SDV) and mobility roadmaps for global OEMs.

Despite seasonal challenges, the segment delivered QoQ constant currency growth.

A significant multi-year deal was secured with a US-based MSO for developing and managing their application portfolio.

The company’s Healthcare & Lifesciences business segment reported 1.1% QoQ growth, driven by marquee customer wins and traction in Gen AI-powered regulatory, digital engineering, and sustainability solutions.

“We step into the fourth quarter of this financial year with the confidence of large automotive deal wins in the year and quarter that will see continued ramp-ups even as we navigate the current volatility in the automotive market; the stability and return to growth in our healthcare and media & communications verticals, and large strategic deals in the pipeline across all our key verticals,” said Mr Manoj Raghavan.

 

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

On Thursday, January 9, 2025, the Indian benchmark indices Sensex dropped by 528.28 points, or 0.68%, to close at 77,620.21, while the Nifty 50 declined by 162.45 points, or 0.69%, ending at 23,526.50. Check out a few stocks that might be in focus during the trading session on Friday.

• TCS

Tata Consultancy Services (TCS) reported a net profit of ₹12,380 crore for Q3 FY25, reflecting an 11.9% increase over ₹11,058 crore in the same quarter of FY24. Adjusting for a one-time legal settlement of ₹958 crore in Q3 FY24, the year-on-year (YoY) net profit growth stands at 5.5%.

• IREDA

Indian Renewable Energy Development Agency (IREDA) posted a net profit of ₹425.38 crore in the October-December quarter, marking a 27% increase from ₹335.53 crore in the corresponding period last year.

• Adani Total Gas

Adani Total Gas received an upward revision of 20% in administered price mechanism (APM) gas allocation from GAIL (India), effective January 16, 2025. This revision is expected to positively impact the company and stabilise retail prices for consumers.

• Adani Wilmar

Adani Commodities LLP, a promoter of Adani Wilmar, plans to sell up to 20% of its stake in the company through an Offer for Sale (OFS), set to open on Friday, January 10, 2025.

• Indian Overseas Bank

Indian Overseas Bank has announced plans to sell ₹11,500 crore worth of non-performing assets to asset reconstruction companies (ARCs). The sale includes 46 loan accounts, with expressions of interest invited from ARCs.

• Tata Elxsi

Tata Elxsi revenue from operations for the quarter ending December 31, 2024, rose 2.7% to ₹939 crore, compared to ₹955.1 crore a year earlier. However, its net profit declined 3.6% to ₹199 crore from ₹229.4 crore in the year-ago quarter.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.