Indian edible oil company Adani Wilmar has reported a 13% year-on-year growth in volumes for the June quarter. The edible oil segment saw a 13% rise in volumes and a 10% year-on-year increase in value. The Food & FMCG segment grew 46% in value and 45% in volume. Adani Wilmar launched 'Fortune Pehli Dhaar First Pressed Mustard Oil' and engaged with health-conscious consumers through digital platforms. Branded exports increased by 36% year-on-year in the quarter. Nuvama Institutional Equities expects Q1 revenue and EBITDA for Adani Wilmar to grow by 12.5% and 196%, respectively. The stock is currently down 21.21% from its 52-week high. Nuvama has maintained its 'BUY' rating on Adani Wilmar with a target price of Rs 455 [bd0b2064].
Dalmia Bharat's Q1 results showed little change in revenue and met estimates. The company is expected to continue facing near-term challenges, according to HDFC Securities. There has been a delay in achieving the medium-term capacity target, which led to a de-rating in the company's valuation multiples in the last few quarters. Motilal Oswal Financial Services also noted that Dalmia Bharat's Q1 performance was in line with expectations. Despite the challenges, Dalmia Bharat's volume growth remains healthy, and soft pricing is expected to continue in the near term [64c0c78e].
Tata Communications Q1 results show steady DPS growth offsetting declines in other verticals, according to Motilal Oswal Financial Services. Margin improvement and data revenue growth are key catalysts for valuation re-rating. [eeb0f956]
Dodla Dairy continues to experience strong margin expansion in Q1; VAP sales reach a record high, according to ICICI Securities. The company is focusing on geographical and distribution expansion to further strengthen its market share [adb6087f].