Mixed Financial Results in Q2 FY2024-25 for Mindspace, Max Estates, Nuvama, Coal India, and SMC Glob

Team FS

26/Oct/2024

What’s covered under the Article

Mindspace and Max Estates saw declines in net profit YOY, while Nuvama Wealth reported growth across all financial metrics.
Coal India's revenue and profit saw significant drops YOY, impacted by declining EBITDA margins.
SMC Global showed a consistent increase in both sales and net profit for Q2, reflecting stability in the financial sector.

Mindspace Business Parks REIT

Price: ₹366
Market Cap: ₹21,701 Crore
PE Ratio: 40.8

Mindspace Business Parks REIT, a major player in India's office space real estate, showed mixed results this quarter. Revenue rose by 2% YOY and 1.7% QoQ to ₹649 crore, reflecting steady demand in commercial real estate. EBITDA increased by 3% YOY and 3.1% QoQ to ₹468 crore. However, the net profit dropped by 11% YOY and 2.2% QoQ, reaching ₹135 crore, while EPS declined by 11% YOY and 2% QoQ to ₹2.12, impacted by rising operational expenses.

Metric	YOY	QoQ	Sep 2024	Jun 2024	Sep 2023
Sales	⇡ 2%	⇡ 1.7%	₹649	₹638	₹638
EBITDA	⇡ 3%	⇡ 3.1%	₹468	₹454	₹455
Net Profit	⇣ 11%	⇣ 2.2%	₹135	₹138	₹150
EPS	⇣ 11%	⇣ 2%	₹2.12	₹2.16	₹2.38

Max Estates

Price: ₹548
Market Cap: ₹8,825 Crore
PE Ratio: 34.6

Max Estates, a company known for its premium residential and commercial properties, reported significant declines in sales and profit. Sales dropped by 21% YOY and 49.5% QoQ, coming in at ₹7.48 crore. EBITDA fell by 716% YOY and turned negative QoQ with a loss of ₹3.14 crore. However, a massive gain in non-operating income pushed net profit up by 4175% YOY to ₹242 crore, with EPS growing 3850% YOY to ₹15.01.

Metric	YOY	QoQ	Sep 2024	Jun 2024	Sep 2023
Sales	⇣ 21%	⇣ 49.5%	₹7.48	₹14.8	₹9.50
EBITDA	⇣ 716%	Negative	₹-3.14	₹2.09	₹0.51
Net Profit	⇡ 4175%	⇡ 3167%	₹242	₹7.41	₹5.65
EPS	⇡ 3850%	⇡ 2902%	₹15.01	₹0.50	₹0.38

Nuvama Wealth Management

Price: ₹6,679
Market Cap: ₹23,895 Crore
PE Ratio: 28.6

Nuvama Wealth Management, a leading wealth management firm in India, showed strong financial performance this quarter. Sales surged by 43% YOY and 10.8% QoQ to ₹1,051 crore, while EBITDA increased by 56% YOY and 14.2% QoQ, reaching ₹563 crore. Net profit grew by 78% YOY and 16.3% QoQ to ₹257 crore, with EPS seeing a 74% YOY increase and 15.5% QoQ rise to ₹72.13.

Metric	YOY	QoQ	Sep 2024	Jun 2024	Sep 2023
Sales	⇡ 43%	⇡ 10.8%	₹1,051	₹949	₹735
EBITDA	⇡ 56%	⇡ 14.2%	₹563	₹493	₹360
Net Profit	⇡ 78%	⇡ 16.3%	₹257	₹221	₹145
EPS	⇡ 74%	⇡ 15.5%	₹72.13	₹62.44	₹41.39

Coal India

Price: ₹461
Market Cap: ₹2,84,163 Crore
PE Ratio: 7.9

Coal India, a state-owned coal mining giant, witnessed declines across major financial indicators. Sales dropped by 6% YOY and 15.9% QoQ to ₹30,673 crore, while EBITDA decreased by 14% YOY and 39.9% QoQ, settling at ₹8,617 crore. Net profit fell by 22% YOY and 42.7% QoQ to ₹6,275 crore, with EPS also showing a 22% YOY and 42.5% QoQ decline to ₹10.21.

Metric	YOY	QoQ	Sep 2024	Jun 2024	Sep 2023
Sales	⇣ 6%	⇣ 15.9%	₹30,673	₹36,465	₹32,776
EBITDA	⇣ 14%	⇣ 39.9%	₹8,617	₹14,339	₹10,038
Net Profit	⇣ 22%	⇣ 42.7%	₹6,275	₹10,944	₹8,049
EPS	⇣ 22%	⇣ 42.5%	₹10.21	₹17.78	₹13.06

SMC Global Securities

Price: ₹151
Market Cap: ₹1,585 Crore
PE Ratio: 7.3

SMC Global Securities, a leading financial services company, demonstrated consistent growth. Sales rose by 16% YOY and 0.7% QoQ to ₹451 crore, and EBITDA increased by 26% YOY despite a 5.6% QoQ dip, settling at ₹118 crore. Net profit rose by 14% YOY but saw a 14.2% QoQ drop to ₹45.6 crore, with EPS increasing 15% YOY and decreasing 14.4% QoQ to ₹4.33.

Metric	YOY	QoQ	Sep 2024	Jun 2024	Sep 2023
Sales	⇡ 16%	⇡ 0.7%	₹451	₹448	₹389
EBITDA	⇡ 26%	⇣ 5.6%	₹118	₹125	₹94.0
Net Profit	⇡ 14%	⇣ 14.2%	₹45.6	₹53.2	₹39.9
EPS	⇡ 15%	⇣ 14.4%	₹4.33	₹5.06	₹3.78

This quarterly performance review showcases the different growth trajectories for each company, underlining the dynamic nature of India’s corporate landscape.

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