Financial Performance In FY24, ONGC recorded its highest-ever standalone net profit of Rs 40,526 crore, marking a modest increase of 1.1% from Rs 40,097 crore in FY23. Consolidated net profit reached an unprecedented Rs 57,101 crore, surging by 67.7% from Rs 34,046 crore in the previous year. Gross revenue for the year stood at Rs …
Understanding the Financial Health of Companies The debt-to-EBITDA ratio serves as a crucial financial metric, offering insights into a company’s ability to manage its debt obligations. By comparing a company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) to its debt, investors can gauge its financial health. A lower ratio indicates lesser debt burden, while …
India’s economic landscape is shaped by a network of powerful entities known as PSUs (Public Sector Undertakings). These organisations play a crucial role in driving national growth across various sectors. PSUs are integral to India’s development, from powering our homes to fueling our industries. They showcase a robust partnership between the public sector and economic …
Patel Engineering Limited, a prominent player in the Indian infrastructure sector, announced a strategic move to diversify its portfolio further. The company’s Board of Directors recently approved the acquisition of a 10% stake in a promising start-up, Shail Tunnelling, specialising in the supply of tunnel boring machines (TBMs). This acquisition signifies Patel Engineering’s commitment to …
Zuari Industries Limited, a prominent player in the Indian industrial landscape, announced a strategic move to consolidate its ownership stake in Texmaco Rail and Engineering Limited (Texmaco). The company’s Board of Directors recently approved the acquisition of equity shares in Texmaco for a maximum consideration of ₹200 crore (approximately USD 24 million) from Zuari International …
The National Financial Reporting Authority(NFRA) has banned the auditors of Anil Ambani group companies Reliance Home Finance and Reliance Commercial Finance and has also levied a penalty for the irregularities in their accounts for the 2018-19 period. Reliance Home Finance Auditors Dhiraj and Dheerak, The Auditors of Anil Ambani Group company, Reliance Home Finance have …
On Tuesday, the key frontline domestic benchmark indices ended the day on a mixed note. The NSE benchmark Nifty 50 closed in the green, up by 27 points, surpassing the 22,500 mark, while the BSE Sensex slipped below the important psychological mark of 74,000, ending down by 53 points. The broader indices also displayed mixed …
On May 21, 2024, the technology and engineering solutions provider AXISCADES Technologies Ltd released its results for the quarter (Q4 FY2024) and year (FY 2024) ended March 31, 2024. Quarterly Performance During the quarter, the company’s revenue from operations rose 14% YoY to ₹256 crore, and EBITDA for the quarter amounted to ₹32 crore, increasing …
The domestic equity benchmarks experienced a sideways trend , with the Nifty index hovering just above the 22,500 level. PSU bank shares saw buying demand for the third consecutive trading session. The S&P BSE Sensex closed almost flat, declining by 52.63 points or -0.07% to 73,953.31, while the Nifty 50 index added 27.5 points or …
On May 20, 2024, Krishna Institute of Medical Sciences Limited (KIMS) announced to the exchanges that on May 19, 2024, it had signed an agreement to invest up to ₹71,27,50,000 by subscribing to 7,12,750 Optionally Convertible Redeemable Preference Shares (OCRPS) with a face value of ₹1000 each in KIMS Hospital Bengaluru Private Limited. KIMS Hospital …
