Things I read yesterday as part of my stock research activities.
Quarterly Results
Core Business
🟢 Maruti Suzuki starts FY27 with a market share of 42%, up from 39% in FY26, led by passenger cars and SUVs. Record April domestic sales of 1,91,122 units were powered by a 141% YOY surge in SUV volumes, with the segment nearing category leadership.
🟢 Bajaj Auto reports April total sales of 5,13,792 units vs 3,65,810 units YOY, beating the estimate of 4,80,080 units. Exports surged 83% YOY to 2,65,582 units, making international markets the primary FY27 growth driver.
🔴 Ashok Leyland reports April total sales of 14,646 units vs 13,421 units YOY, slightly below the estimate of 15,800 units. LCV domestic volumes rose 23% YOY and M&HCV trucks grew 15%, but export headwinds and bus segment softness capped the overall result.
🟢 Ather Energy delivers highest-ever quarterly volumes of 83,418 units, up 76% YOY, with adjusted gross margin jumping 116% YOY to ₹925 Cr in FY26. Q4 net loss narrowed 57% YOY to ₹100.2 Cr, signalling improving unit economics. It also announces 10 lakh units of total manufacturing capacity, with Phase-I of 5 lakh units commencing from Q3 FY27. The Aurangabad facility at approximately 42,000 units per month anchors Phase-I, targeting the ₹1 lakh to ₹1.3 lakh EV price segment.
🟢 Netweb Technologies guides for 30-35% revenue growth in FY27. AI segment contribution has risen sharply to 43% from 15% previously, driven by deepening hyperscaler and enterprise AI infrastructure deployments across India.
🟢 Adani Ports handles 43.1 MMT of cargo in April 2026, up 15% YOY, led by containers and dry cargo both rising 17% YOY. Logistics rail volume fell 16% YOY to 48,490 TEUs, a divergence that could weigh on higher-margin integrated logistics revenue.
🟢 Lloyds Metals commissions its second 4 MTPA pellet plant at Konsari, taking total pellet capacity to 8 MTPA and ranking among India’s largest merchant pellet players.
🟢 BSE has overtaken NSE in the F&O segment with 55.4% market share in April while NSE dropped to 44.6%.
New Orders Received
🟢 EMS Limited receives a ₹143.80 Cr letter of award for sewer network and house connection work in Varanasi from UP Jal Nigam.
Partnerships & Acquisitions
🟢 Knowledge Marine and Engineering Works acquires approximately 15 acres of waterfront land in Saphale, Palghar for shipyard expansion near Vadhvan Port. Vadhvan Port’s 298 MTPA capacity ambition creates long-term anchor demand for proximate shipbuilding and repair infrastructure.
🟢 Tata Chemicals’ board approves ₹100 Cr investment to debottleneck salt capacity at Mithapur, targeting 82,500 TPA additional output. Mithapur is India’s largest integrated salt complex and this low-capital investment delivers roughly 12% incremental capacity.
That’s it for today.
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Disclaimer: Anand Ganapathy K is a SEBI-registered Research Analyst with SEBI registration number INH000016630. This post is purely for learning purposes. We do not recommend buying or selling stocks mentioned in this newsletter. Securities market investments carry market risks. Kindly review all related documents before investing.