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Samvardhana Motherson shares soar 5% after Q3. Here’s what Nomura, Citi, Motilal said

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Samvardhana Motherson shares soar 5% after Q3. Here’s what Nomura, Citi, Motilal said
Shares of auto component major Samvardhana Motherson International (SAMIL) rose as much as 5.4% to their day’s high of Rs 136 on the BSE after the company’s net profit rose 21% to Rs 1,061 crore in the third quarter of financial year 2026. In the same quarter last year, profit was Rs 879 crore.

The company’s revenue from operations came in at Rs 31,409 crore, marking an increase of 14% from Rs 27,666 crore posted in the same quarter of the previous financial year. Improvement in PAT was supported by lower finance costs and higher contribution from JVs and associates. Revenue growth was led by the impact of the Atsumitec acquisition, organic growth, commodities and favourable FX, the company said.

EBITDA for the quarter under review came in at Rs 3,042 crore, higher by 9.5% from Rs 2,776 crore in the same quarter last year. Margins increased to 10% from 9.7%, SAMIL’s investor presentation showed. “Operational improvements supported by realisation of benefits of Transformative Measures in MPP division,” it added.

What should investors do?

Motilal Oswal has reiterated a Buy rating on Samvardhana Motherson with a revised target price of Rs 148, after raising its earnings estimates by 6% for FY26 and 1% for FY27 following a better-than-expected Q3 performance despite challenging global macro conditions. The brokerage highlighted management’s next five-year revenue aspiration of USD 108 billion and expects the company to continue outperforming global automobile sales, supported by premiumisation trends, the ongoing EV transition, a strong order backlog across auto and non-auto segments and successful integration of recent acquisitions.

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While ongoing tariff issues could cause some near-term slowdown in key geographies, Motilal Oswal believes the company is relatively well positioned due to its proximity to customers and ability to realign supply chains. It added that potential industry consolidation could benefit larger players like Samvardhana Motherson over the long term and maintained its Buy stance based on a valuation of 24x December 27E EPS.
Also read: Risk-on trade back? Smallcap stocks rally up to 28% in 2026, but market breadth stays weak
Nomura has also maintained a Buy rating on Samvardhana Motherson and raised its target price to Rs 140 from Rs 127, citing expectations of a recovery in passenger vehicle demand along with ramp-up in greenfield plants, aerospace and consumer electronics businesses and the integration of two acquisitions. The brokerage expects these factors to support revenue growth of 21% and 11% in FY27 and FY28, respectively. It also highlighted that operating leverage and ongoing cost rationalisation initiatives are likely to sustain margin improvement going forward. Additionally, Nomura noted that any potential new acquisitions could act as a key upside trigger in the company’s journey towards achieving USD 108 billion in revenue by FY30 from USD 25.7 billion in FY25.
Offering a contrarian view, Citi has maintained a Sell rating on Samvardhana Motherson with a target price of Rs 95, despite a Q3 earnings beat driven by strong performance in the Wiring Harness and Modules businesses and improving margins. The brokerage cautioned that global demand risks remain elevated and flagged concerns around the profitability of emerging businesses and recent acquisitions. Citi said valuations have been rolled forward but sees limited upside potential from current levels.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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The Marzetti Co. debuts protein ranch

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The Marzetti Co. debuts protein ranch

The ranch is available as a dressing and as a dip. 

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Cal-Maine Foods, Inc. (CALM) Q3 2026 Earnings Call Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Q3: 2026-04-01 Earnings Summary

EPS of $1.06 beats by $0.28

 | Revenue of $666.95M (-52.95% Y/Y) beats by $24.47M

Cal-Maine Foods, Inc. (CALM) Q3 2026 Earnings Call April 1, 2026 9:00 AM EDT

Company Participants

Sherman Miller – CEO, President & Director
Max Bowman – VP, CFO, Treasurer, Secretary & Director

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Conference Call Participants

Heather Jones – Heather Jones Research LLC
Pooran Sharma – Stephens Inc., Research Division
Leah Jordan – Goldman Sachs Group, Inc., Research Division
Benjamin Mayhew – BMO Capital Markets Equity Research
Benjamin Klieve – The Benchmark Company, LLC, Research Division

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Presentation

Operator

Good morning, everyone, and welcome to the Cal-Maine Foods Third Quarter Fiscal 2026 Earnings Conference Call. [Operator Instructions]. Please note this call is being recorded. I will now turn the call over to Sherman Miller, President and Chief Executive Officer of Cal-Maine Foods. Please go ahead.

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Sherman Miller
CEO, President & Director

Good morning. Thank you for joining us today. I want to remind everyone that today’s remarks may include forward-looking statements. These are based on management’s current expectations and are subject to risks and uncertainties described in our SEC filings. Let me start by sincerely thanking our teams across the organization whose execution, focus and commitment to excellence drive the operational and financial performance that underpins everything we do.

The hard work and dedication continue to set us apart, and these results are a direct reflection of their efforts. In February, we shared the sad news of the passing of long-time Board member, Jim Poole. Over more than 2 decades, Jim made a lasting impact on the company, and we extend our heartfelt condolences to his family and loved ones.

Today, we announced the appointment of Dudley Wooley to the Board to fill the vacancy left by Jim. Dudley brings deep expertise in risk management and governance, along with a strong track record of leading growth-oriented organizations and driving operational performance.

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We look forward to

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St George signs MOU with Boston Metal

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St George signs MOU with Boston Metal

Shares in St George rose by 9 per cent early on Wednesday, on the back of two big days for the West Perth-based midcap.

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Movado Group extends Calvin Klein license agreement through 2029

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Movado Group extends Calvin Klein license agreement through 2029

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Thousands lose their jobs in deep cuts at tech giant Oracle

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Thousands lose their jobs in deep cuts at tech giant Oracle

It is thought that thousands of people may have lost their jobs at Oracle, one of the world’s largest tech companies.

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FAA investigates Delta flight that radioed wrong NYC tower upon approach

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FAA investigates Delta flight that radioed wrong NYC tower upon approach

Pilots of a Delta flight contacted the wrong control tower during a landing attempt in New York City earlier this month in an alarming mix-up captured in newly surfaced flight audio.

The incident occurred March 15, when Delta Air Lines flight 5752, operated by Republic Airways, was flying from Washington Reagan National Airport in D.C. to LaGuardia Airport in Queens. 

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Instead of reaching LaGuardia, the pilots appeared to radio the John F. Kennedy tower about 10 miles away, according to audio published on LiveATC over the weekend.

The baffling error prompted a go-around before the flight ultimately landed safely, the Federal Aviation Administration (FAA) told FOX Business Wednesday.

SOUTHWEST PILOT ABORTS HOLLYWOOD BURBANK LANDING BECAUSE RUNWAY ‘WASN’T QUITE CLEAR’: REPORT

Delta Air Lines plane

A Delta Air Lines Boeing 767 plane bound for New York’s John F. Kennedy International Airport takes off April 5, 2025. (Omar Havana/Getty Images / Getty Images)

According to the transmission, multiple control towers and pilots from other flights could be heard on the feed, with one pilot reacting in stunned disbelief as the mix-up came to light.

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The exchange began when the pilots identified themselves and requested clearance to land, prompting an air traffic controller to respond in apparent confusion.

“That’s … uh … Who?” the JFK tower controller asked. “I’m sorry, where are you?”

DELTA PILOT TELLS CONTROL TOWER ‘WE LOST LEFT ENGINE’ AS FLIGHT IGNITES RUNWAY FIRE

LaGuardia Airport

Delta Air Lines flight 5752 contacted the wrong air traffic control tower while en route to LaGuardia Airport. (Getty Images)

“2-mile final, Brickyard 5752,” the pilot confirmed.

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“2-mile final where?” the controller pressed, to which the pilot answered, “Runway 4.”

“At LaGuardia?” the controller asked.

“Yes, ma’am,” the pilot responded.

“This is Kennedy Tower, please go to LaGuardia Tower,” the controller quickly instructed.

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“Oh my goodness. All right,” the pilot answered.

UNITED JET DODGES BLACK HAWK IN LAST-SECOND MANEUVER OVER CALIFORNIA AIRPORT: ‘THAT WAS NOT GOOD’

An airplane is seen flying behind a control tower at Reagan National Airport

An airplane takes off near the control tower at Reagan National Airport in Arlington, Va., Oct. 8, 2025.  (Brendan Smialowski/AFP/Getty Images / Getty Images)

Another unknown individual, who heard the interaction in the feed, reacted in disbelief, saying, “That’s crazy.”

The pilots then contacted the correct tower, announcing, “We’re going around.”

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The FAA confirmed the slip-up to FOX Business Wednesday, explaining the flight began a go-around, which aborts the landing approach and returns the aircraft to a safe altitude for another attempt.

“The flight crew of Delta Air Lines Flight 5752 performed a go-around on approach to LaGuardia Airport after incorrectly establishing communication with the John F. Kennedy air traffic control tower,” the FAA said. 

“Air traffic control instructed the flight crew to switch to the correct frequency. No other aircraft were involved.”

Ticker Security Last Change Change %
DAL DELTA AIR LINES INC. 67.60 +1.12 +1.68%

According to FlightAware, the jet arrived roughly 25 minutes behind schedule.

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The FAA said the agency is investigating the event.

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Delta Air Lines confirmed to the New York Post that its flight crew was not on board the aircraft, which was operated by Republic Airways, according to FlightAware.

FOX Business reached out to Republic Airways for more information. 

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Tiger Woods won’t captain 2027 Ryder Cup team, golf future remains uncertain

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Tiger Woods won't captain 2027 Ryder Cup team, golf future remains uncertain

Tiger Woods of Jupiter Links Golf Club looks on before the match against the Los Angeles Golf Club at SoFi Center in Palm Beach Gardens, Florida, March 24, 2026.

Adam Glanzman | TGL Golf | Getty Images

Tiger Woods’ future in professional golf remains unclear as he seeks treatment after a rollover car crash last week.

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Woods was arrested for a DUI after the accident in Jupiter Island, Florida, his second rollover in five years, and said in a statement on X that he would be stepping back from golf “to return to a healthier stronger, and more focused place.”

Woods did not provide a timeline for his return, only that he would be stepping away for a “period of time.”

On Wednesday, the PGA of America announced that Woods will no longer serve as captain of the 2027 U.S. Ryder Cup Team.

“We support his decision,” the PGA of America said in a statement on X. “We commend Tiger for prioritizing his long-term health and deeply respect the courage it takes to make such a personal decision.”

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The latest developments leave Woods at least temporarily at the fringes of the sport that made him a household name. The golf community has rallied around the sport’s biggest star as he vows to “focus on his health,” and the PGA Tour said in a statement that Woods has the organization’s full support.

“Tiger Woods is a legend of our sport whose impact extends far beyond his achievements on the course. But above all else, Tiger is a person, and our focus is on his health and well‑being,” the tour said.

Off the course, Woods has been serving as chairman of the PGA Tour’s Future Competition Committee since August. That group has been responsible for creating a vision for the future of professional golf.

A PGA Tour spokesperson said that Woods will return to that role when he is ready to do so.

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Golf Channel analyst and former tour pro Brandel Chamblee suggested it could be time for Woods to consider retirement following his latest accident. Woods, 50, has been recovering from various injuries sustained in his car crash in 2021.

“Why would he need to play golf anymore?” Chamblee asked Friday on the Golf Channel’s “Golf Central.” “I think he should probably ask himself that. Consider not playing golf anymore.”

Until Friday’s accident, Woods held onto hope that he would compete in the upcoming Masters Tournament this month.

Augusta National Golf Club Chairman Fred Ridley confirmed this week that Woods would not play.

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“Although Tiger will not be joining us in person next week, his presence will be felt here in Augusta,” Ridley said. “Augusta National Golf Club and the Masters Tournament fully support Tiger Woods as he focuses on his well-being.”

TGR, Woods’ education foundation, said it remains committed to serving its students and communities.

“Our thoughts are with our founder as he takes the time needed to focus on his health,” its CEO Hrag Hamalian said in a statement.

Woods’ apparel brand, Sun Day Red, also voiced its support this week.

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“He is not just our partner, he is our friend. We are here for him and we remain focused on the work we are building together,” the company said in a post on the Meta-owned Threads platform.

TGL, the indoor golf league founded by Woods and Rory McIlroy, declined to comment about Woods’ hiatus and potential return.

Woods made his first TGL playing appearance of the season for the Jupiter Links team last week in front of a notable audience. ESPN said nearly 1 million viewers tuned in to watch Woods’ return, making it the largest audience this season.

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Black Hawk Acquisition receives Nasdaq notice for market value non-compliance

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Walmart-owned Sam’s Club raises its annual membership fee to $60

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Walmart-owned Sam's Club raises its annual membership fee to $60

A Sam’s Club in Miami, July 7, 2025.

Joe Raedle | Getty Images

Walmart-owned Sam’s Club said Wednesday it will raise its annual membership fee by $10.

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Starting on May 1, the warehouse club — which directly competes with Costco and BJ’s Wholesale Club — will charge $60 per year for basic membership and $120 for its higher-tier option. It currently charges $50 for club members and $110 for Plus members and last raised annual fees in October 2022.

In a statement, Sam’s Club said it has “adjusted our membership pricing to support the things our members love,” citing perks including its assortment, expanded hours and better curbside pickup and delivery options.

Still, those new fees will be below those of rival Costco, which charges $65 per year for its basic membership and $130 per year for its higher-tier option. Costco hiked its fees in 2024. The fees bring Sam’s Club in line with BJ’s, which charges $60 per year for its basic membership and $120 per year for its higher-tier membership.

Sam’s Club is hiking membership fees as its annual sales and membership grow. Net sales for Sam’s Club in the U.S. grew by about 3.1% to $93 billion last fiscal year, according to Walmart’s fourth-quarter earnings report. That growth has come in part from an expanding digital business: In the holiday quarter, the warehouse club’s e-commerce sales increased by 23% year over year. Store and website visits increased, too, with transactions rising 5.3% year over year in the same quarter.

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Higher gas prices, driven by the Iran war, have drawn more attention to one of warehouse clubs’ key perks: cheaper prices at the pump. Gas prices hit a nationwide average of $4.018 this week, according to travel association AAA. That’s the highest price since August 2022, when the Russia-Ukraine war drove up energy prices.

Sam’s Club does not disclose its membership count, but said that it hit a record high in the three-month quarter that ended Jan. 31. Membership for the retailer is estimated to be more than 30 million, with a similar proportion of members opting into the higher-tier level as at Costco, according to David Bellinger, a retail analyst for Mizuho Securities.

Based on the equity research firm’s estimate, the membership fee increase could bump up annual income from the subscriptions by more than $200 million. That would translate to a 2 cent annual earnings per share lift for parent company Walmart.

Membership fee increases for current members will take effect when they renew at the end of their billing cycle. Sam’s Club said it emailed members about the fee increase on Tuesday.

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As part of the fee change, Sam’s Club said members of its higher-tier level, called “Plus,” will be able to earn up to $750 per year in Sam’s Cash rewards on eligible purchases, up from $500 per year.

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Energy bill help would be based on household income, Reeves says

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Energy bill help would be based on household income, Reeves says

The chancellor tells the BBC it is “too early” to say exactly who would get help but hinted any support would not arrive until the autumn.

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