Latest news with #IPO-bound
Deccan Herald
5 days ago
- Business
- Deccan Herald
Can't take on big cement majors yet; will grow biz organically: Parth Jindal
Parth Jindal, the managing director of the IPO-bound JSW Cement, told reporters that entrenched competitors have very strong balance sheets, with low or no debt and a lot of cash.
Deccan Herald
6 days ago
- Business
- Deccan Herald
JSW doesn't have 'aukaat' to take on Adanis, Birlas; will grow cement business organically: MD Parth Jindal
Parth Jindal, the managing director of the IPO-bound JSW Cement, told reporters that entrenched competitors have very strong balance sheets, with low or no debt and a lot of cash.
Reuters
29-07-2025
- Business
- Reuters
India's Blue Dart posts lower quarterly profit as higher expenses offset rise in deliveries
July 29 (Reuters) - Indian courier delivery firm Blue Dart Express's ( opens new tab first-quarter profit fell nearly 9% on Tuesday as higher expenses offset a rise in volumes. The company, which competes with Delhivery ( opens new tab and IPO-bound Shadowfax, said its consolidated net profit fell 8.6% to 488.3 million Indian rupees ($5.62 million)in the quarter ended June 30. Its revenue from operations rose 7.4% to 14.42 billion rupees, while expenses grew 8.3% to 13.86 billion rupees. Indian logistics companies have been grappling with higher expenses due to more competition and increased freight costs. Analysts said Blue Dart's higher volume growth was likely fueled by the business to consumer (B2C) unit and its Surface business, which delivers items weighing 10 kilograms and above door-to-door. Blue Dart did not provide a performance breakdown of its businesses. PEER COMPARISON * Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell ** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT APRIL-JUNE STOCK PERFORMANCE -- All data from LSEG -- $1 = 86.8160 Indian rupees
Economic Times
16-07-2025
- Automotive
- Economic Times
Ola Electric shares slide over 3% after Maharashtra orders closure of unlicensed showrooms
Regulatory scrutiny and sales slump Live Events Eroding market position (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of Ola Electric Mobility slipped as much as 3.5% on Wednesday to Rs 42.60 on BSE after a report stated that the Maharashtra Transport Department had directed regional authorities to shut down the company's showrooms and service centres operating without valid trade regulatory action follows a letter dated April 16 from the state's Joint Transport Commissioner, which noted that 121 Ola Electric showrooms were found operating without the mandatory trade certificates, and 109 show-cause notices had been issued. According to The Economic Times, which cited the letter, 75 showrooms have already been shut state transport department has now instructed district-level transport offices to take immediate action. 'If the showroom or store-cum-service center of M/s Ola Electric Mobility Limited in your area of operation is conducting business without obtaining a trade certificate from the transport office, action should be taken to close that center or showroom, and its original trade certificate should be cancelled,' the letter crackdown is part of a broader enforcement drive by the Maharashtra government, which has already conducted multiple raids on Ola Electric outlets. According to the same letter, a total of 192 vehicles were seized during these regulatory headwinds come at a time when Ola Electric is already under pressure from central ministries. Last month, the company received inquiry emails from the Ministry of Heavy Industries and the Ministry of Road Transport and Highways over alleged violations related to trade certificates and discrepancies in vehicle scrutiny has coincided with a sharp deterioration in the company's operational performance. According to Vahan data cited by The Economic Times, Ola Electric has sold 69,142 electric scooters so far in 2025 — a steep drop from 1,54,297 units during the same period last year. The decline has significantly eroded the company's market share in the electric two-wheeler Electric's market share has declined sharply from 33.4% to 19.6% year-on-year, after selling 60,500 units in the first quarter of FY26. The company has ceded ground to rivals TVS Motor, Bajaj Auto, and IPO-bound Ather Energy, all of whom outpaced Ola in June follows an earlier compliance concern this year, when a gap between reported sales of 25,000 units and only 8,500 actual registrations raised fresh questions about the company's disclosure company's financial performance has also shown signs of stress. In Q1 FY26, net loss widened to Rs 428 crore, up from Rs 347 crore in the same quarter last year. Revenue halved to Rs 828 crore, compared to Rs 1,644 crore in Q1 FY25.
Time of India
26-06-2025
- Business
- Time of India
Startups chase profits, their ticket to Dalal Street
MUMBAI: Startups gearing up to go public are setting their financials in order - cutting losses and chasing profitability. IPO-bound Urban Company reported its first full year of profitability in FY25, the firm said in its annual report last week. Although much of the profits - Rs 240 crore on a consolidated basis - came on the back of a Rs 211-crore deferred tax credit, the startup managed to turn in profits even on a pre-tax basis. Hit by the tech downturn post pandemic that saw valuations of loss-making startups getting eroded in private market and investor narrative shifting from growth at any cost to profits - companies had already begun fixing their financials; those eyeing an IPO had been more focused given the affinity of public markets for profitable firms and the added scrutiny they bring forth. The trend is not new but in the current times, companies may have to do more than just paring losses. In a volatile market situation, the bar for IPOs is much higher and it is imperative for companies to be profitable, analysts said. "The revenue metrics are no longer benchmarks from a (IPO) valuation perspective. For even the anchor book to come in, profitability is important. Ebitda level profitability is also fine but investors will not favour companies that burn cash," Mehekka Oberoi, fund manager at IIFL Fintech Fund told TOI. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Eat 1 Teaspoon Every Night, See What Happens A Week Later [Video] Health Benefits Undo Given that there are some listed startups today, the benchmarks for companies now going IPO are higher and profitability has become more important, said Gopal Jain, managing partner at Gaja Capital. "There is less space for vanity metrics in public markets. Because they cater to all kind of investors, they focus on simple metrics like profitability." "Also, public markets show leniency when new sectors are born, as the sectors become deeper, the bar for subsequent companies go up," Jain said. Urban Company now joins the league of players like Groww which are profitable; Oyo which is making its third attempt in going public is also in the black. Meesho and Lenskart heavily cut down on their losses in FY24, their latest filings show; analysts do not rule out more companies reporting profitability for FY25. Meesho's consolidated losses narrowed to Rs 304 crore in FY24 from Rs 1,675 crore in FY23. The company had earlier this year said that excluding Esop costs, its losses stood at Rs 53 crore in FY24 and it managed to turn profitable in Q2FY24. Lenskart's consolidated losses narrowed to Rs 10 crore in FY24 from Rs 64 crore in FY23. Shiprocket had said that it expects to record profits in FY25. Yet, there is much work ahead - companies such as Physicswallah saw their losses balloon in FY24. "As IPO-bound companies gear up for public spotlight, key lessons from recent listings are clear: markets value consistency, discipline, and predictability over aggressive short-term growth," said Nishit Garg, partner, Asia investment team at RTP Global. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
