First Quarter Business Updates

Bajaj Finance

• Customer franchise as of June 30 stood at 43 million. Acquired 0.5 million new customers during the quarter.
• New loans booked during the quarter at Rs 1.7 million from 7.3 million.
• Assets Under Management at Rs 1.38 lakh crore from Rs 1,28,898 crore
• Capital Adequacy ratio of 26.4%.
• Consolidated liquidity surplus of Rs 17,600 crore.
• Deposit book at Rs 20,000 crore from Rs 15,084 crore.
• AUM under moratorium has reduced to 15.5% from 27% as of April 2020.
• May consider additional provisioning in Q1FY21 to further strengthen balance sheet.

Godrej Consumer

• Expect close to mid-single digit, volume driven sales growth in the quarter.
• Demand trends mixed for categories and geographies.
• Resurgence of household insecticide category continued with strong underlying consumer demand.
• Saw strong momentum in the Hygiene category.
• Hair colour and air freshner demand remained muted.
• Expect close to mid-single digit constant currency sales growth in Indonesia.
• Expect sales decline in the early twenties in constant currency terms for the Africa business.
• Performance in Latin America is expected to be steady.
• Absolute sales likely to be marginally lower than the base quarter.

Bandhan Bank

• Advances up 18% to Rs 71,846 crore
• Deposits up 35% to Rs 57,082 crore
• CASA ratio at 37.1% from 34.1%
• Micro banking loan vertical has shown positive traction subsequent to Unlock 1.
• Collection efficiency has improved to nearly 70% as on July 3, 2020
• Collection efficiency for non-micro banking advances in June at ~84%
• Liquidity Coverage Ratio at ~159%

SH Kelkar

• Witnessed encouraging demand pick-up from the last week of May and continued into June.
• Revenues in Q1FY21 stood between Rs 190-192 crore (provisional)
• Debt in Q1FY21 reduced to Rs 254-258 (provisional) crore as against Rs 299 crore as on March 31, 2020.
• Witnessing initial signs of recovery in FMCG industry and gradual normalisation of demand.

• Hindustan Unilever: Moves Bombay High Court seeking injunction against threats by Emami over the Glow and Handsome trademark. HUL has sought at least seven days prior written notice from Emami before it initiates any legal proceedings. HUl also said that it has registered the Glow and Lovely and Glow and Handsome trademarks in September 2018.
• PVR: Sets the rights issue price at Rs 784 per share, a 25% discount to Monday's closing price. Rights entitlement ratio set at 7 shares for every 94 held as on the record date of July 10. The rights issue will be open from July 17 to July 31. The board had approved raising Rs 300 crore from the rights issue on June 8.
• Shriram Transport Finance: Board approves rights issue worth Rs 1,500 crore. The issue price has been set at Rs 570 per share, which is a discount of 18% to Monday's closing price. Rights entitlement ratio is set at 3 equity shares for every 26 held on record date of July 10. Promoter group will fully subscribe to their rights entitlement and will not renounce their rights.
• Insecticides India: Zonal and territory manager in Chhattisgarh along with 16 distributors and dealers were found indulging in commission of breach of trust, criminal misappropriation and fraud over a period of time thereby causing severe loss to the company worth Rs 20 crore. A complaint has been filed with the superintendent of police.
• Punjab National Bank: To consider raising capital on July 9.
• Canara Bank: To consider raising capital for FY21 on July 10.

• Benchmark indices gained for the fifth straight day
• Tech stocks pushed Nasdaq to a record high
• Amazon shares surged past $3,000 for the first time.
• Tesla extended a five-day rally to over 40%
• U.S. Dollar fell for the fifth day in a row to the lowest since June 10.
• Copper on the verge of erasing losses for the year
• “It’s extraordinary. I think we’re all scratching our heads, but the market is telling me you’ve got to be in it,” Alicia Levina, Chief Strategist at BNY Mellon told Bloomberg TV in an interview.
• Yield on the 10-year treasuries stood at 0.68%
• West Texas Intermediate crude fell 0.1% to $40.61 per barrel.

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