Whalesbook
Bhai, yeh jo profit ka number dikh raha hai na, ₹4,017 crore, yeh asliyat mein tax bachane se aaya hai. Company ka tax expense lagbhag 80% gir gaya, jo pehle ₹662.05 crore tha woh ab sirf ₹112.58 crore ho gaya. Toh tax credits ke chakkar mein pre-tax earnings toh ₹4,383.98 crore ho gaye, par profit ka bada jhatka tax savings se hai.
Par yahaan real picture thodi alag hai. Revenue dekh lo, nearly flat, sirf ₹14,223 crore raha, pichle saal se bhi kam. Aur EBITDA, jo company ke core operations ki health batata hai, woh 1.7% gir kar ₹4,732 crore ho gaya. Margins bhi thode se kam hue. Isi wajah se, market ko yeh mix results pasand nahi aaye aur share 2.48% gir kar ₹217.80 par band hua.
Company ne kaha hai ki market mein challenges chal rahe hain. Jaise ki, mausam kharab tha, toh power ki demand kam rahi. Plus, renewable energy ka share badh raha hai aur merchant market mein rates bhi kam hain. Power sales thodi badhi, 27.2 billion units tak, par price pressure ne revenue badhne nahi diya.
Ab debt ki baat karein toh company par ₹28,855 crore se zyada ka loan hai, aur capacity badhane ke liye aur paisa uthane ki planning hai. Investors ko isse stability ki chinta ho sakti hai. Kuch analysts toh stock ko overvalued bhi keh rahe hain, kahin NTPC jaise peers ke muqable toh. Lekin CEO S.B. Khyalia bol rahe hain ki future mein earnings badhenge, par abhi wait and watch karna hoga.