Latest news with #EBIDTA
United News of India
4 days ago
- Business
- United News of India
SC continues hearing on JSW Steel's BPSL resolution plan: ex-promoters, creditors, and state present arguments
New Delhi, Aug 7 (UNI) The Supreme Court today continued hearings in the high-stakes dispute over JSW Steel's resolution plan for Bhushan Power and Steel Limited (BPSL). The matter was heard by a bench, comprising Chief Justice of India B.R. Gavai, Justices Satish Chandra Sharma, and K. Vinod Chandran. The current proceedings follow the Supreme Court's July 31, 2025, order, which allowed review petitions filed by JSW Steel, the Committee of Creditors (CoC), and others challenging the Court's earlier May 2 judgment that had rejected the resolution plan and ordered BPSL's liquidation. The case stems from a batch of civil appeals concerning JSW Steel's Rs 19,700 crore resolution plan, which had received approval from the CoC during the Corporate Insolvency Resolution Process (CIRP) and was subsequently cleared with modifications by the NCLT and NCLAT. Appeals were filed by multiple stakeholders, including the Directorate of Enforcement (ED), operational creditors (such as Kalyani Transco, Jaldhi Overseas, Medi Carrier, C J Darcl Logistics), the State of Odisha, and former promoters like Sanjay Singal. Senior Advocate Dhruv Mehta, appearing for Sanjay Singal, argued that JSW Steel failed to implement the resolution plan within the stipulated time under the IBC. He alleged that JSW did not bring in the committed equity infusion and instead substituted it with compulsory convertible debentures, undermining the plan's objectives. He further contended that once the resolution plan is approved, the CoC has no authority to modify it, as there is no express provision under the IBC for post-approval alterations. On the issue of EBIDTA during CIRP, Mehta cited the NCLT's direction that such earnings must flow to creditors and relied on the Supreme Court's ESAAR judgment, which allowed similar treatment based on the resolution plan's request-for-proposal (RFP) conditions. Operational creditors presented their arguments next. The State of Odisha's claim for entry tax was dismissed on the ground that it was not filed within the prescribed deadline before the Resolution Professional. The claim for electricity dues, though filed in time, had not been contested when reduced. The bench dismissed both claims. Solicitor General Tushar Mehta, appearing for the CoC, began his submissions by defending the concurrent findings of the NCLT and NCLAT. He identified three core issues, maintainability of the appeal by ex-promoters; Distribution of EBIDTA generated during CIRP to creditors and the inappropriateness of judicial interference with the CoC's commercial wisdom, especially given the conduct of the former promoters. He also noted that many arguments raised now by ex-promoters were not submitted before lower forums. Further, in a shift from its previous position, the CoC sought interest for delays in the implementation of the resolution plan. SG Mehta will continue his submissions tomorrow at 2 PM, followed by Senior Advocate Neeraj Kishan Kaul, who appears for JSW Steel. JSW Steel Ltd is represented by Senior Advocates Neeraj Kishan Kaul and Gopal Jain, with legal teams from Karanjawala & Co.: Nandini Gore (Senior Partner), Tahira Karanjawala (Partner), Swati Bhardwaj, Akarsh Sharma, Manvi Rastogi, Sharanya Ghosh, and Pranav Garg. AZB & Partners: Rajendra Barot (Senior Partner), Vivek Shetty, Suharsh Sinha, and Akhilesh Menezes. The Committee of Creditors is represented by SG Tushar Mehta, assisted by Raunak Dhillon. The Resolution Professional is represented by Senior Advocate Shyam Divan and Shardul S. Shroff. The matter remains under active hearing before the Supreme Court and is likely to have significant implications for insolvency jurisprudence and investor confidence in resolution processes under the IBC. UNI SNG SS
CNBC
4 days ago
- Business
- CNBC
Pinterest stock falls 10% after earnings miss
Pinterest shares were down about 10% on Thursday after the company reported second-quarter earnings that missed on earnings per share. Here's how the company did, compared to analysts' consensus estimates from LSEG: Sales in Pinterest's second quarter grew 17% year-over-year while net income was $38.76 million, up from $8.9 million a year ago during the same period. Pinterest said that third-quarter sales will come in between $1.033 billion to $1.053 billion, topping analyst estimates of $1.025 billion. The social media company said it had 578 million global monthly active users in the second quarter, ahead of the 574.5 million that StreetAccount was projecting. Pinterest said in May that it had 570 million monthly active users in the first quarter. Pinterest recorded $251 million in second quarter adjusted earnings before interest, taxes, depreciation and amortization, or EBIDTA, which was higher than StreetAccount's estimates of $233 million. "I'm proud of our Q2 results — delivering 17% revenue growth and another quarter of record users," Pinterest CEO Bill Ready said in a statement. "We're also excited that Gen Z has grown to over half of our user base." Snap shares plummeted over 15% on Tuesday after the company reported second-quarter earnings in which global average revenue per user missed expectations. Evan Spiegel, the company's CEO, said in an investor letter that Snap's "topline growth" was negatively impacted by factors including a botched advertising platform update that has since been fixed. Amazon reported second-quarter earnings last Thursday and noted that its online ad sales jumped 23% year over year to $15.69 billion. Reddit reported its latest earnings the same day, and said that second-quarter sales skyrocketed 78% year over year to $500 million. Alphabet beat on the top and bottom lines when it reported its second-quarter earnings on July 23, and Meta said on July 30 that its second-quarter revenue hit $47.52 billion. That represented a 22% increase from the previous year during the same period.
Business Standard
5 days ago
- Business
- Business Standard
Transrail Lighting hits all-time high after PAT more than doubles to Rs 106 crore
Transrail Lighting added 1.29% to Rs 802.90 after the company's consolidated net profit increased by 105% to Rs 106 crore in Q1 FY26 from Rs 52 crore in Q1 FY25. For the quarter, the company declared revenue of Rs 1,660 crore, a growth of 81% over the corresponding quarter of the previous year. EBIDTA improved by 66% to Rs 200 crore in Q1 FY26 from Rs 120 crore in Q1 FY25. EBIDTA margin fell by 100 basis points YoY to 12% in Q1 FY26. Profit before tax (PBT) in Q1 FY26 was at Rs 147 crore, up by 89% from Rs 77 crore posted in Q1 FY25. The company has received new orders worth Rs 1,748 crore in Q1 FY26, which is a growth of 72% YoY. Major portion of these order wins has come from domestic T&D projects. The un-executed order book (UEOB) stood at Rs 14,654 crore as of 30 June 2025, reflecting a robust 44% growth YoY. Total UEOB including L1 stands at Rs 15,637 crore. Randeep Narang, MD & CEO said: "We have started the financial year on a strong note, delivering robust growth in revenue, profitability and order intake. Our consistent order inflow led by the core T&D segment, has further strengthened our orderbook which coupled with our sharp focus on execution, reinforces our confidence in sustaining this momentum in the quarters ahead." The scrip advanced 4.0% to hit the days high at Rs 824.95, which is an all-time high for this counter. Transrail Lighting is a leading turnkey engineering, procurement and construction (EPC) company with primary focus on power transmission and distribution business with 4 decades of experience in construction and manufacturing.
Business Standard
5 days ago
- Business
- Business Standard
Jindal Stainless posts 11% YoY rise in Q1 PAT; EBITDA rises to Rs 1,310 crore
Jindal Stainless has reported 11% rise in consolidated net profit to Rs 715 crore on a 8% increase in revenue from operations to Rs 10,207 crore in Q1 FY26 over Q1 FY25. Total expenditure for the period under review aggregated to Rs 8,897 crore, up 8% YoY. EBIDTA improved by 8% to Rs 1,310 crore in Q1 FY26 from Rs 1,212 crore in Q1 FY25. Profit before tax (PBT) in Q1 FY26 was at Rs 969 crore, up by 9% from Rs 886 crore posted in Q1 FY25. Abhyuday Jindal, managing director, Jindal Stainless, said: Despite continued volatility in the global landscape, Jindal Stainless has reinforced its market leadership underpinned by our customer-centric approach, sustained product and special grades innovation, and continued operational efficiency. We are advancing our presence across high-impact sectors such as railways, automotive, and infrastructure, while unlocking new opportunities across the sectors through strategic partnerships and application-driven offerings. Our initiatives like co-branding programmes and loyalty schemes are redefining customer engagement and operational agility." Jindal Stainless is Indias leading stainless-steel manufacturer of stainless steel flat products, in austenitic, ferritic, martensitic and duplex grades in India used in a variety of industries like automobile, railways, construction, consumer goods, etc. The scrip declined 3.32% to currently trade at Rs 709.60 on the BSE.
Business Standard
6 days ago
- Automotive
- Business Standard
Bajaj Auto registers PAT of Rs 2,096 crore in Q1; EBIDTA margin declines to 19.7%
Bajaj Auto has posted 5% increase in standalone net profit to Rs 2,096 crore in Q1 FY26 from Rs 1,988 crore in Q1 FY25. For the quarter, the company declared revenue of Rs 12,584 crore, a growth of 6% over the corresponding quarter of the previous year. Exports, premium motorcycles, CVs and Chetak clocked double-digit growth in Q1 FY26. The company stated that balanced business model was at play as resurgent exports and scaling up of the emerging electric portfolio more than made up for the domestic motorcycle performance, which although improved over previous quarter, had a subduing effect on the overall growth. The company clocked total sales volume of 11.11 lakh units in Q1 FY26, which is higher by 1% as compared with the volume of 11.02 lakh units posted in Q1 FY25. While two-wheeler sales remained flat at 9.48 lakh units, commercial vehicle sales rose by 7% to 1.62 lakh units in Q1 FY26 over Q1 FY25. Domestic sales and export sales for Q1 FY26 aggregated to 6.34 lakh units (down 8% YoY) and 4.76 lakh units (up 16% YoY), respectively. EBIDTA improved by 3% to Rs 2,482 crore in Q1 FY26 from Rs 2,415 crore in Q1 FY25. EBIDTA margin fell by 50 basis points YoY to 19.7% in Q1 FY26. The decline in margin was almost entirely on lower dollar realisation during the quarter, while an improved mix and operating leverage offset the impact of commodity inflation. Profit before tax (PBT) in Q1 FY26 was at Rs 2,788 crore, up by 6% from Rs 2,622 crore posted in Q1 FY25. The companys balance sheet remains healthy. It has managed to sustain its track record of free cash flow generation, with Rs 1,200 crore added during the quarter. Surplus funds stood at Rs 16,726 crore, after infusing Rs 300 crore into Bajaj Auto Credit to finance the continued scale up/ growth of its book and Rs 1,525 crore into Bajaj Auto International Holdings BV, Netherlands, to partly fund the KTM Austria transaction. Bajaj Auto is engaged in the business of development, manufacturing, and distribution of automobiles such as motorcycles, commercial vehicles, electric two-wheelers, etc., and parts thereof. The scrip shed 0.72% to currently trade at Rs 8170.65 on the BSE.
