In today’s briefing:
- Religare’s New Dawn: The Burman Family Takes Control
- Allied Blenders & Distillers Ltd Q3FY25 Update: Volume Growth, Premiumization
- Apcotex Industries Ltd Q3FY25 Update: Capacity Utilisation and Industry Dynamics Driving Growth
- Godawari Power & Ispat Limited Q3 FY25 Update: De-Growth Due to Lower Iron Ore and Pellet Production
- Trualt Bioenergy Limited Pre-IPO – Built in a Flash: The Rapid Rise to an IPO
Religare’s New Dawn: The Burman Family Takes Control
- After an 18-month saga, the Burman family has taken control of REL, acquiring 25.16% equity and planning a INR 2,000 crore capital infusion.
- This takeover ends promoter-less governance, injecting fresh strategic capital to transform Religare into a competitive NBFC and drive long-term recovery.
- Investors should now view Religare as a turnaround story, with robust governance reforms, lower debt, and renewed focus on core financial services promising sustainable growth.
Allied Blenders & Distillers Ltd Q3FY25 Update: Volume Growth, Premiumization
- Allied Blenders & Distillers (9844250Z IN) ‘s Q3 FY25 results showed robust growth in revenue at Rs. 2,346 crores (up 15.5% sequentially, 12.9% YoY) and strong premiumisation with expanded export reach.
- Enhanced margins driven by effective cost optimization and profitable state brand mix highlight ABDL’s resilience and ability to capture premium market trends, strengthening its competitive position in India’s spirits industry.
- The company aims to grow the aggregate market share of its four millionaire brands and consolidate its position in the P&A whisky segment through its three millionaire brands
Apcotex Industries Ltd Q3FY25 Update: Capacity Utilisation and Industry Dynamics Driving Growth
- Apcotex Industries (APCO IN) operational revenue rose 38.2% YoY to INR 3,553 million in Q3 FY25, driven by strong volume gains and a 30% YoY increase in export volumes.
- Robust volume and export growth, alongside management’s capacity and anti-dumping initiatives, position Apcotex for margin recovery and long-term revenue expansion.
- The company expects margins to improve in Q4, driven by better capacity utilisation and an improving situation in the XNB (Nitrile Latex) business due to duties imposed by the US.
Godawari Power & Ispat Limited Q3 FY25 Update: De-Growth Due to Lower Iron Ore and Pellet Production
- Godawari Power and Ispat (GODPI IN) Q3 FY25 results show revenue and EBITDA declines due to lower iron ore and pellet production, despite improved volumes in HB wires and fabricated products.
- These declines highlight operational challenges affecting profitability, emphasizing the need for capacity expansion and enhanced cost controls in a competitive global steel market.
- The company dropped the plan to set up a greenfield integrated steel plant of 2 million tons. Instead, GPIL is evaluating alternative projects with lower capacity and capex.
Trualt Bioenergy Limited Pre-IPO – Built in a Flash: The Rapid Rise to an IPO
- Trualt Bioenergy Ltd (2350587D IN) (TBL) is planning to raise about US$120m through its upcoming India IPO.
- TBL is one of India’s largest biofuels producers. As of FY24, TBL’s business verticals were Ethanol, ENA (Extra Neutral Alcohol), CBG (Compressed Biogas), FOM (Fermented Organic Manure), CO2 (Carbon Dioxide).
- As per the CRISIL Report, TBL held the distinction of being the largest ethanol producer in India based on installed capacity, as of Mar 24.
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