From PG Electroplast’s biggest fall on record to a sharp, sudden decline in Kalyan Jewellers, these stocks were the biggest casualties after their June quarter results during Friday’s trading session.
1 / 9Multiple stocks had a very sharp fall during Friday’s trading session after they reported their June quarter results, either after market hours on Thursday, or on Friday. Stocks fell as much as 23% after results. Here is a look at this list:
2 / 9PG Electroplast | The stock fell 23% on Friday after it cut its full year growth guidance across parameters, from revenue, to profitability and business segments. The fall was the biggest on record for the stock. From ₹5 in 2020, the stock had risen to levels of ₹1,054 in January this year before correcting. The fall comes just a few months after promoters offloaded some stake in the company via block deals in May.
3 / 9Kalyan Jewellers | Despite a 31.5% revenue growth, a 38% jump in its EBITDA and a near-50% profit jump, Kalyan Jewellers’ shares fell over 11% on Friday. The management told CNBC-TV18 that Same Store Sales Growth will continue its momentum, while loans have been brought down by over ₹500 crore.
4 / 9The Ramco cements | Shares of the cement company fell nearly 6% after revenue and volumes were below expectations. Sales volume declined 5.5% from last year, due to weak demand in Kerala and the eastern markets. EBITDA per tonne stood at ₹981 from ₹752 last year and ₹631 in March.
5 / 9Biocon | Biocon was also among the top losers on Friday after reporting results on Thursday night. The company mentioned that the generics business was in-line with expectations and that Liraglutide will be the biggest growth driver in Europe. The management also said that interest costs will gradually come down.
6 / 9Data Patterns | The stock recovered from the lows of the day, yet ended lower by close to 6% on Friday. Revenue for the quarter fell 5%, while EBITDA and profits also saw a drop. The management though, is confident of achieving their full year targets.
7 / 9Subros | Subros shares fell nearly 8% on Friday after its revenue for the quarter fell from last year due to a maintenance shut down of a customer, while EBITDA fell due to lower sales volumes and increase in manpower costs due to salary and wage revisions.
8 / 9NBCC | The state-run company’s stock fell 4% on Friday despite a 20% growth in its EBITDA, a 11.6% growth in revenue and a 30 basis points expansion in margins. The real estate revenue for the company fell 27%.
9 / 9Some of the other earnings accident of the day included Best Agro (Down 10%), Varroc Engineering (Down 8%), and Kuantum Papers (Down 9%).
