🇮🇳 India Daybook: DMart Posts Q2 PAT of ₹804 Cr, PTC Industries Raises ₹1,800 Cr via QIP

📍 EARNINGS WATCH

• Avenue Supermarts (DMart): The retail supermarket chain operator reported a 7.6% year-on-year increase in standalone net profit to ₹804 crore for the quarter ended September 30 (Q2), trailing street estimates of ₹879 crore amid wage-related operating cost pressures. Standalone revenue from operations grew 18.4% YoY to ₹19,206 crore, supported by 9.5% same-store sales growth across stores open for over two years. The company added 15 new stores during the quarter, bringing its total footprint to 518 stores. Consolidated net profit for the quarter rose 8.5% YoY to ₹743 crore on total revenue of ₹19,644 crore.

📍 FUNDRAISE

• PTC Industries: The manufacturer of critical titanium and superalloy aerospace components closed its Qualified Institutional Placement (QIP) after raising approximately ₹1,800 crore. The board approved the allotment of 8.54 lakh equity shares to qualified institutional buyers at an issue price of ₹21,060 per share. Proceeds will be used to pare down high-cost corporate debt and fund machinery and working capital expansion at its aerospace subsidiary, Aerolloy Technologies.

📍 JOINT VENTURES & PARTNERSHIPS

• Mahindra & Mahindra (M&M): Brazilian aircraft manufacturer Embraer entered into an agreement with Mahindra Defence Systems Limited (MDSL) to acquire a 51% majority stake in Novavayu Aerospace Limited. MDSL will retain a 49% stake in the joint venture entity. The strategic tie-up is set to assemble and position Embraer's C-390 Millennium aircraft to bid for the Indian Air Force's Medium Transport Aircraft (MTA) program, with the transaction expected to close by December 1.

📍 DIVESTMENTS & CORPORATE RESTRUCTURING

• Alok Industries: The integrated textile company announced that its step-down subsidiary, Alok Industries International Limited, completed the divestment of its 100% equity stake in Czech fabric maker Mileta a.s. to CRESCON a.s. for a total cash consideration of EUR 558,825 (approx. ₹5.6 crore). Consequently, Mileta a.s. has ceased to be a subsidiary of Alok Industries.

• Inox Green Energy Services: The company announced that its operating subsidiary, Vibhav Energy Private Limited, allotted 10 crore equity shares to Authum Investment & Infrastructure following the conversion of ₹100 crore worth of inter-corporate deposits (ICD). The conversion grants Authum a 25% stake, resulting in Vibhav Energy ceasing to be a wholly owned subsidiary of Inox Green Energy.

• Tech Mahindra: The technology services major disclosed that its step-down overseas entity, LCC Networks Poland, has been voluntarily liquidated as part of corporate structural rationalization.

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