CAPITALSTARS WEDNESDAY CORPORATE NEWS UPDATE : 24 JULY 2019

CapitalStars Investment Adviser

Jubilant Foodworks drops ~7% after reporting flat PAT at ~Rs75cr

Jubilant Foodworks reported its first quarter results for FY20 today. Profit after tax in Q1FY20 came in at Rs74.8cr.Operating revenues for Q1FY20 stood at Rs940cr, a growth of 9.9% over Q1FY19. This was driven by Same Store Sales Growth (SSG) of 4.1% in Domino's Pizza, on a strong base of 25.9% last year.Like for Like Sales growth, i.e., sales growth of stores that were not split since 1st April, 2018 came in higher at 5.8%.EBITDA for Q1 FY20 stood at Rs219cr, at 23.3% of revenue.

UPL raises EUR100mn working capital loan at zero rate of interest

UPL informed the exchanges that it has raised EUR100mn of working capital loan at 0% rate of interest.The company's shares are trading lower by 3%. The company in its filing said, "We wish to inform you...that UPL Corporation Limited ("UPL Corp"), the international arm of UPL Limited ("UPL"), has arranged financing of EUR100mn to meet working capital requirements across the group. The short tenor loan carries zero running coupon and is the first such financing raised by the group.""The facility is proposed to be arranged by Cooperatieve Rabobank U.A., the leading Dutch Food and Agri-focused bank. The transaction is subject to customary conditions, including the execution of necessary documentation and receipt of required approvals and is expected to be completed in August-September 2019, the company added.

Torrent Pharma's PAT rises 32.51% to Rs216cr in Q1FY20

Torrent Pharmaceuticals, on July 23, reported a 32.51% rise in its consolidated PAT at Rs216cr for the quarter ended June 30 vs. Rs163cr yoy.The rise in PAT was mainly on account of strong sales in most geographies.Shares of the company are currently up 5%.Its consolidated revenue from operations stood at Rs2, 022cr vs. Rs1, 872cr yoy.Further, the company India business was up 9% yoy to Rs907cr for the quarter, while US revenues rose 13% yoy to Rs376cr.In a separate filing, the company stated that it has appointed Jinesh Shah as an additional director till the next annual general meeting and also whole-time director for 5 years with effect from Aug 1, 2019.

Mahindra & Mahindra Financial stock tanks 11% after PAT declines 66% in Q1

Mahindra & Mahindra Financial Services Limited, a leading provider of financial services in the rural and semi-urban markets, reported a Profit After Tax (PAT) at Rs108cr during the quarter ended June 30, 2019, as against Rs322cr during the corresponding quarter last year, a decline of 66% over the same period previous year.The company total income increased by 23% at Rs2, 838cr during the quarter ended June 30, 2019, as against Rs2, 302cr in the corresponding quarter last year.

Zydus Cadila announces launch of Ramelteon Tablets, 8mg

Zydus Cadila announced the Day I launch of Ramelteon Tablets (US RLD - Rozerem Tablets), 8 mg upon receiving the final approval from the USFDA.Shares of Zydus Wellness are trading flat with a positive bias.Ramelteon is a sedative, also called a hypnotic.It works by affecting certain substances in the body that help regulate the "sleep-wake cycle." Ramelteon is used to treat insomnia that is associated with having trouble falling asleep.The drug will be manufactured at the group's formulations manufacturing facility at SEZ, Ahmedabad. The group now has 270 approvals and has so far filed over 360 ANDAs since the commencement of the filing process in FY 2003-04.

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