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Business Standard
3 days ago
- Business
- Business Standard
ICICI Bank Q1 result on July 19; check preview to find what analysts expect
ICICI Bank Q1 results preview: Private lender ICICI Bank may report strong quarterly earnings during the June quarter of the current financial year (Q1FY26) on the back of solid loan growth, higher other income, and lower slippages, expect analysts. ICICI Bank, they believe, may see net profit gain of anywhere between 3 per cent and nearly 10 per cent year-on-year, while net interest income (NII) could also rise 8-10 per cent. ICICI Bank Q1 results 2025 date, time: A meeting of the bank's Board of Directors will be held on Saturday, July 19, 2025, to consider and approve the unaudited financial results for the quarter ended June 30, 2025. "The Bank will host an earnings call with analysts and investors at 5:00 pm (IST) on July 19, 2025 to discuss the financial results of the Bank for the quarter ended June 30, 2025," it said in a stock exchange filing. ICICI Bank Q1 results expectations: Nuvama Institutional Equities Analysts at Nuvama expect ICICI Bank to see a decent quarter with net profit growth seen at 7 per cent Y-o-Y to ₹11,830 crore. In the corresponding quarter of the previous financial year (Q1FY25), ICICI Bank had reported a net profit of ₹11,060 crore. That said, the net profit may slip a little over 6 per cent quarter-on-quarter (Q-o-Q) from ₹12,630 crore. As per the brokerage, the net profit growth would be driven by NII increase of 7.8 per cent Y-o-Y to ₹21,090 crore, and other income growth of 13 per cent Y-o-Y to ₹7,200 crore. Assuming a 12 per cent yearly increase in operating expenditure (Opex), worth ₹11,800 crore, the brokerage sees ICICI Bank's operating profit at ₹17,140 crore, up 7 per cent Y-o-Y, but down 3 per cent Q-o-Q. On the business front, Nuvama Institutional Equities projects ICICI Bank's loan growth of 12 per cent Y-o-Y/2 per cent Q-o-Q at ₹13.68 trillion, and deposit growth of 13 per cent Y-o-Y/flat Q-o-Q at ₹16.10 trillion. It sees net interest margin (NIM) contracting around 9 basis points Y-o-Y and 14bps Q-o-Q to 4.27 per cent in Q1FY26. YES Securities YES Securities analysts see ICICI Bank's Q1FY26 net profit growth at 9.6 per cent Y-o-Y to ₹12,121 crore. Operationally, NII is seen at ₹21,468.4 crore (up 10 per cent Y-o-Y), and Operating profit at ₹17,391.6 crore (higher by 8.5 per cent Y-o-Y). The brokerage assumes sequential loan growth to be in the 2.5 per cent ballpark due to idiosyncratic growth trajectory. NII growth, it said, will be slower than average loan growth due to fall in yield on advances outpacing cost of deposits. Consequently, NIM will be lower sequentially. "Opex growth would be higher than business growth due to appraisal season. While slippages would be higher on sequential basis due to seasonality, provisions will be higher due to writeback in Q4FY25," it said. JM Financial In-line with other brokerages, analysts at JM Financial expect ICICI Bank's NII to grow around 7 per cent Y-o-Y, but down 1.4 per cent Q-o-Q to ₹20,902.4 crore in the June 2025 quarter. This would be on the back of 11.7 per cent loan growth and 15.2 per cent deposit growth. Overall, NIM is seen at 4.1 per cent at the end of Q1FY26. Further, the operating profit is pegged at ₹17,255.1 crore, higher by 7.7 per cent Y-o-Y but down 2.3 per cent Q-o-Q. Net profit, thus, is projected at ₹11,529.8 crore, up 4.3 per cent Y-o-Y, but down 8.7 per cent Q-o-Q. InCred Equities This brokerage pegs ICICI Bank's net profit at ₹11,400 crore, an increase of just 3.2 per cent Y-o-Y and a drop of 9.7 per cent Q-o-Q. NII, meanwhile, is forecasted at ₹20,900 crore, up 7 per cent Y-o-Y from ₹19,600 crore, but down 1.2 per cent Q-o-Q from ₹21,200 crore. Margins are seen contracting 17bps Y-o-Y and 22bps Q-o-Q to 4.19 per cent, while credit costs could inch up 1bps Y-o-Y and 19bps Q-o-Q to 0.46 per cent.
Economic Times
10-07-2025
- Business
- Economic Times
Avenue Supermarts Q1 Results Preview: DMart owner's PAT likely to rise by up to 8%, revenue may see 18% surge on store additions
Avenue Supermarts, which operates DMart stores, will announce its Q1FY26 earnings on Friday, July 11, where the company is expected to report a bottomline growth of 6-10% on a year-on-year basis. The net profit in the quarter under review is expected to fall in the range of Rs 817 crore to Rs 892 crore, according to estimates of three brokerages. ADVERTISEMENT The Radhakishan Damani-owned company is likely to report a revenue growth of 16-18% YoY in the range of Rs 15,932 crore to Rs 16,348 crore. The estimates of JM Financial, Axis Securities and HSBC have been taken into account. While Axis Securities has most conservative net profit growth estimates, HSBC remains most bullish in the pack. As for the revenue, JM Financial has the lowest estimate while Axis has the highest. Company's margins are likely to contract on a YoY basis on account of store the key monitorables are competition, demand situation in metros, tier 1&2 cities and store expansion. ADVERTISEMENT The Q1FY26 earnings preview suggests a strong sequential performance across key financial metrics. The profit after tax (PAT) is expected at Rs 869 crore, reflecting a 7% YoY growth and a significant 40% jump quarter-on-quarter (QoQ). Revenues are projected at Rs 15,932 crore, up 16% YoY and 10% QoQ. JM Financial attributed the revenue uptick to addition of 9 stores QoQ to 424 stores. In its view, the sales per square foot is expected to grow 2% YoY to Rs 9,200. ADVERTISEMENT The Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) is estimated at Rs 1,349 crore, marking a 10% increase over the previous year and a healthy 37% rise sequentially. Despite a YoY decline of 44 basis points, the EBITDA margin is expected to improve sharply by 168 basis points QoQ to 8.5%."We expect EBITDA margin to contract 40 bps despite expectation of flat gross margin as we expect employee and other expenses to remain elevated due to higher competitive activity," the brokerage noted. ADVERTISEMENT Axis Securities expects PAT of Rs 817 crore, representing a 5.6% increase on a YoY basis and a sharp 48.6% surge QoQ. Revenues are estimated to rise to Rs 16,348 crore, up 16.2% YoY and 9.9% QoQ on the back of store expansion and single-digit is forecasted at Rs 1,344 crore, registering a 10.1% YoY growth and a strong 40.7% sequential rise. While the EBITDA margin is expected to contract by 46 basis points on a yearly basis to 8.2% on the back of higher Opex, led by store expansion and weak GM. ADVERTISEMENT The key monitorables are demand outlook in metros/Tier 2/3 towns and store expansion Q1FY26 preview estimates the net profit at Rs 892 crore, marking a 10% increase compared to the same quarter last year. Revenues are expected to rise to Rs 16,203 crore, an 18% jump is estimated at Rs 1,390 crore, up 14% YoY while the EBITDA margin is expected to come in at 9%, slightly lower by 33 basis points compared to the previous year. Competitive pressures might weigh on SSSG and margins, this brokerage said. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Mint
10-07-2025
- Business
- Mint
Ground Reality: A 26-acre patch emerges as key hurdle to SCL Mohali's facelift
A 26-acre land parcel near the existing chip research and manufacturing facility, the Semi-Conductor Laboratory (SCL) in Mohali, has emerged as a potential hurdle in the Centre's plan to modernise the decades-old plant with advanced chip technology. Owned by the Punjab government, the land was identified by the Centre-run facility over a year ago for its expansion and adding new fabrication lines. However, ongoing disputes over the land and a higher price of about ₹700-800 crore demanded by the Punjab government are causing delays to the government's plans, two officials aware of the matter said on the condition of anonymity. 'The land is seen as key for expansion due to its proximity to the existing research and manufacturing infrastructure. Essential services such as power, water, and connectivity can be expanded with the existing SCL set-up nearby, making it highly practical for expansion," the first official said, adding that the ministry of electronics and IT (MeitY) is currently evaluating the prospects. Queries emailed to MeitY and chief secretary to the Punjab government did not elicit any response till press time. To be sure, SCL Mohali is currently undergoing a ₹4,000-crore revamp process which involves replacement of old machine and equipment along with technology upgrade in the existing legacy semiconductor technology of 180 nanometer (nm). After this revamp, the government will begin with the process to modernise SCL Mohali by moving to lower chip nodes of 65 nm, 40 nm, and 28 nm nanometer, the official said, adding that a new tender will be invited to seek technology partners for SCL's foray into lower nodes. The 180-nanometer process is an old chip-making technology. It is still used to make chips for satellites, space and defense systems, medical devices, micro-controllers, power management, etc. In chip-making, nanometers measure the size of tiny parts like transistors and the spaces between them on a chip. Smaller nanometers mean smaller, faster, and more power-efficient chips. 'While technology transfers are key for SCL to foray into new chip technology, land acquisition is very important for infra expansion. The Punjab government is quoting a three-times higher price for the land. Requests have also been made to them to directly hand over the land to the SCL after it is cleared for the existing disputes," the second official said. 'An Indian pre-play foundry type vision for SCL Mohali should include a diverse fab (fabrication) level node portfolio that offers multiple nodes to meet demand of diverse end-markets and also have both Capex and Opex cost structure synergies across the node mix in the fab," said Danish Faruqui, CEO of Fab Economics, a US-based boutique semiconductor fab/OSAT greenfield projects advisory and implementation consultancy. Fabrication in semiconductors means the process of building tiny electronic components and circuits on a silicon wafer, using advanced machines, chemicals, and cleanroom environments. 'Specific nodes sub-90nm with individual capacities in SCL Mohali will bring multi-faceted synergy to develop and propel the entire nation's ecosystem towards more advanced nodes," Faruqui said, adding that SCL Mohali's expansion and modernization should aim for brownfield-driven synergies. SCL first started manufacturing in 1984. This was three years before Taiwan's Semiconductor Manufacturing Company (TSMC), which eventually became a global chip leader, set up shop. But a mysterious fire 35 years back destroyed its facilities at the 51-acre campus at Mohali and after that slow decision-making had put SCL off-track. The facility has been serving strategic sectors like space and satellites, railways, and telecom, among others by supplying them 180 nm chips. 'The current plan with SCL modernisation is to increase its capacity and to support startups and industry for R&D and prototyping," a third official said, adding that the chip design startups have already started utilising the SCL facility for prototype and limited scale manufacturing of their chips in 180 nm technology. With modernisation, the startups will be able to get their chip prototype in the advanced technology, the official said. Currently, fabless startups that develop chip designs have to tap global entities such as TSMC, and GlobalFoundries to get even limited samples of chips before actual production can start. The same not only incurs huge costs but also limits their ability to do failure analysis, testing, and identify any challenges in manufacturing or assembly first hand. Lately, the SCL facility has also been used by global semiconductor companies, which are setting up shops in India, for training their workforce. Last year, US-based Micron, which is setting up assembly, test, marking, and packaging (ATMP) facility at Sanand, Gujarat, got the first-level training to its engineers from SCL Mohali, according to a post by SCL on X in February 2024. Similarly, Lam Research, which is a manufacturer and supplier of wafer fabrication equipment, also sent a batch of engineers for training at the SCL Mohali recently, the third official said. 'Tata too approached to get the training done but the same did not happen. This was because they had asked SCL to accommodate a batch of 120 people whereas SCL can accommodate only a limited number," the third official added. Queries emailed to Tata Electronics and Lam Research did not elicit any response till the press time. In December 2021, the government announced a ₹76,000-crore India Semiconductor Mission that aims to create a strong semiconductor and display ecosystem in the country. Of the same, the government had earmarked around ₹10,000 crore for modernisation of SCL. According to estimates by industry body India Electronics and Semiconductor Association (IESA), by 2030, India's semiconductor demand is projected to reach $103 billion, and 10-15% of this will stem from technologies built on 180nm nodes such as MEMS (micro-electromechanical systems), CMOS (complementary metal-oxide-semiconductor) image sensors, power semiconductors, analog, and mixed-signal devices.
Fibre2Fashion
05-07-2025
- Business
- Fibre2Fashion
India eyes 12% global share in chemicals with reforms: NITI Aayog
Achieving a 12 per cent share in global chemical value chains (GVCs) by 2040 is the ambitious target set for India's chemical sector, according to NITI Aayog. Despite contributing significantly to the gross domestic product (GDP), the sector remains fragmented and is hindered by infrastructure gaps, regulatory inefficiencies, and low R&D intensity. India's 3.5 per cent GVC share and $31 billion trade deficit in 2023 underscore its dependence on imported feedstock and specialty chemicals. However, with targeted fiscal and non-fiscal reforms, India aims to build a $1 trillion chemical industry and emerge as a global powerhouse, as outlined in NITI Aayog's latest report 'Chemical Industry: Powering India's Participation in Global Value Chains.' India aims to achieve a 12 per cent share in global chemical value chains by 2040, up from 3.5 per cent in 2023, according to NITI Aayog. Its report outlined targeted reforms to address infrastructure gaps, low R&D, and skill shortages. With strategic interventions, India envisions a $1 trillion chemical sector by 2040, reduced trade deficit, and 7 lakh new skilled jobs by 2030. The report provided an in-depth analysis of the sector, highlighting opportunities, challenges, and a strategic roadmap to strengthen India's position in global markets. Structural issues such as heavy import reliance—stemming from limited domestic backward integration—outdated industrial clusters, and high logistics costs have reduced global competitiveness. Low investment in R&D—only 0.7 per cent compared to the global average of 2.3 per cent—further hampers innovation in high-value chemicals. Regulatory delays, particularly in environmental clearances, restrict industrial agility. Moreover, the sector faced a 30 per cent shortfall in skilled professionals, especially in areas like green chemistry, nanotechnology, and process safety. To address these issues, the report recommended several strategic interventions: establishing world-class chemical hubs by upgrading existing clusters and creating new ones; enhancing port infrastructure with a dedicated Chemical Committee; and introducing an Opex subsidy scheme to promote domestic production of high-dependence or high-export-potential chemicals, NITI Aayog said in a press release. Advancing R&D through increased funding, industry-academia collaboration, and global technology partnerships is emphasised, alongside fast-tracking environmental clearances via a DPIIT audit committee to improve transparency and accountability. The report also suggested leveraging Free Trade Agreements (FTAs) by including chemical-specific provisions and improving exporter awareness and utilisation. Talent development is another core pillar, with proposals to expand ITIs, upskill faculty, and strengthen industry-academia linkages to align training with evolving sectoral needs. The vision for 2030 is for India to become a global chemical manufacturing powerhouse with a 5–6 per cent GVC share, doubling current production and reducing the trade deficit to achieve a net zero balance in chemicals. This growth is expected to generate an additional $35–40 billion in exports and around 7 lakh skilled jobs. India's rise in the global chemical sector will be driven by advanced technology adoption, streamlined regulations, modern infrastructure, and a skilled workforce. The report concluded that realising this potential will require coordinated efforts from the central and state governments, along with proactive industry participation, to build a competitive, investment-ready, and globally integrated chemical industry. ALCHEMPro News Desk (SG)
Irish Examiner
30-06-2025
- Business
- Irish Examiner
Kerry Airport to hit record passenger numbers with new facilities
Kerry airport is heading for record passenger numbers this year, its AGM in Tralee heard on Monday. The airport in Farranfore, which is heavily dependent on government subsidy, reported operating profit after taxation of €1,373,300 for 2024, compared to €1,198,347 in the previous year. However, without the operational expenditure Opex grant — the annual government subsidy for core services at regional airports — Kerry would have recorded a loss of €533,000, the meeting at the Ballygarry Estate Hotel was told. The Opex subsidy amounted to just over €1.392m in 2024, a decrease of €29,000 on the previous year of over €1.42m. The annual allocation is an 'esoteric process,' chairman Denis Cregan said in response to questions from the floor. The grants are published in November, and it is not yet known how much Kerry Airport, a passenger rather than a cargo airport, will be allocated for 2025. Strong performances on fuel bought by Ryanair, corporate jet business, the gift shop, and the carpark operations led to the increase in turnover. However, the county council rates bill, energy costs, and wage costs were challenges. The airport has invested around €5m of its own reserves into new arrivals and departure facilities which will open at the end of July. The spend was felt necessary for passenger convenience at the growing airport. The new facilities will mean a third gate for departures and help ease a queuing situation which has developed. An appeal went out to passengers to arrive early. 'Perhaps because it is Kerry,' people arrived last minute, often 40 minutes before departure, the AGM was told. 'We need to get the message out there: Please come early,' chief financial officer Basil Sheerin said in an appeal to passengers on the Kerry to Germany, Spain, France, London, and Dublin routes. Capital support Capital facilities as such as fire and electric buses and vehicles for internal transport received Capex or government capital support. In 2024, Kerry was allocated 637,000 in capital funding support for improvements to the runway, a new scanner, electric vehicles, and other equipment. In 2025, the allocation would be 1.83m for safety and security and further carbon reduction measures. The focus after the construction of the arrivals hall was building cash reserves to try to entice more airlines, chairman Denis Cregan, said. We are getting back now to building cash reserves to attract new carriers Kerry was very much dependant on Ryanair, including for the regional Dublin to Kerry flight which now operated on a commercial basis, the AGM heard. A better service to Dublin was needed, with earlier departure times, but the airport was dependent on Ryanair, which had taken over the once subsidised route. Should the Ryanair commercial arrangement fail, then the board would lobby the Government to re-instate the government subsidised public service obligation (PSO) route for Kerry, Mr Cregan said. Some of the existing routes by Ryanair had increased, with the Kerry flight to Alicante now operating five times a week. Three French routes with the French carrier Chalair — to Brittany, Normandy, and the Dordogne — were now in place for the next 12 weeks and overall passenger numbers this year were likely to exceed the 420,000 record set in 2009, the meeting heard. Much work was undertaken by the voluntary boards, including marketing supervision, along with efforts to develop new routes. The policy of not paying a dividend so as to further develop the airport was to continue, the well-attended meeting was told. Read More Shannon Airport Group unveils two new directors
