Business Standard

Tata Consumer, ICICI Prudential Life among major Q4 results today

Mahindra & Mahindra Financial Services has deferred its Q4 earnings meeting and subsequent announcement due to fraud detected by the company

Stock market, BSE

Photo: Bloomberg

Vasudha Mukherjee New Delhi

Listen to This Article

ICICI Prudential Life, MCX, Tata Consumer Products, and Tata Elxsi are among the 15 companies that will on Tuesday release results for the fourth quarter of Financial Year 2023-24 (Q4 FY24).

Mahindra & Mahindra Financial Services deferred a meeting for the quarter and annual financial results on April 23 after detecting fraud at a company branches in the North East.

"During the end of the 4th quarter of the financial year ended 31st March 2024, a fraud was detected at one of the company's branches in the North East. In respect of retail vehicle loans disbursed by the company the fraud involved forgery of KYC (know your customer) documents leading to embezzlement of company funds. The investigations in the matter are at an advanced stage. The company estimates that the financial impact of this fraud is unlikely to exceed Rs.150 crore. Investigations are underway, and necessary corrective actions have been identified and are at various stages of implementation, including arrest of few persons involved," the company said in an exchange filing.

The market is expected to react to companies’ Q4 results. India Inc. is anticipated to report moderate earnings for the March quarter, led by domestic cyclical sectors such as auto and banking, financial services, and insurance (BFSI), while global cyclical sectors such as oil & gas and metal may lag.

Tata Consumer Q4 results

Analysts at Elara Capital are optimistic about Tata Consumer Products Limited's performance in the fourth quarter, attributing its growth to several key factors. They anticipate strong growth, driven by robust performances in new ventures, increased volume in salt sales, and the strategic acquisition of Capital Foods. Additionally, they forecast that Tata Consumer's subsidiary, Tata Global Beverages Limited (CLGT), will achieve high single-digit growth through aggressive promotional offers in modern trade channels and efforts towards premiumisation.

Analysts at Motilal Oswal Securities have provided a detailed outlook for Tata Consumer's performance in specific areas. They expect revenue for the India-branded tea business to grow by seven per cent  year-on-year, primarily driven by a three per cent year-on-year increase in volume. Nourishco, another subsidiary, is anticipated to maintain its strong performance trajectory. Furthermore, they project an improvement in ebitda (earnings before interest, taxes, depreciation, and amortisation) margin to approximately 15.4 per cent in Q4 FY24, compared to 14.1 per cent in Q4 FY23. Key factors to monitor include fluctuations in tea and coffee prices, which can significantly impact Tata Consumer's financial performance.

ICICI Prudential Life Q4 results

Motilal Oswal Securities anticipates a healthy growth in new business premium for ICICI Prudential Life (ICICIPRU), indicating a positive trajectory for the company's core business operations. Additionally, they highlight the expense ratio outlook as a crucial factor to monitor, as it reflects the company's efficiency in managing its operational costs. Furthermore, analysts expect the Value of New Business (VNB) to exhibit healthy growth, accompanied by an expansion of margins. Lastly, there is an optimistic outlook for ICICIPRU's non-linked savings business, with expectations for sustained healthy growth, along with a potential recovery in the Protection business segment. These projections provide insights into the expected financial performance of ICICI Prudential Life Insurance Company Limited in the fourth quarter of the financial year.

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Apr 23 2024 | 10:53 AM IST

Explore News