AI IS A NET JOB CREATOR IN INDIA! 83,100 AI HIRINGS VS 31,921 LAYOFFS — NOMURA SAYS AI CREATED 51,000 MORE JOBS THAN IT KILLED

COLAB PLATFORMS | Q1 FY27 Results

• Net Profit: ₹1.42 Cr, ↑18% YoY, ↑81% QoQ

• Revenue: ₹32.64 Cr, ↑50% YoY, ↓36% QoQ

• EBITDA: ₹0.16 Cr vs EBITDA Loss of ₹0.07 Cr YoY, ↓88% QoQ

• EBITDA Margin: 0.5% vs -0.3% YoY and 2.6% QoQ

SAVERA INDUSTRIES | Q1 FY27 Results

• Net Profit: ₹3.81 Cr, ↓34% YoY, ↑443% QoQ

• Revenue: ₹28.79 Cr, ↑30% YoY, ↑4% QoQ

• EBITDA: ₹4.86 Cr, ↑8% YoY, ↑74% QoQ

• EBITDA Margin: 16.9% vs 20.5% YoY and 10.1% QoQ

📌 KAYNES – Q1 FY27 Concall Highlights

📈 Revenue

• Consolidated revenue grew 40% YoY to ₹946 crore.

• EBITDA stood at ₹147.6 crore, with 15.6% margin.

• Order book remained strong at around ₹9,000 crore.

⚙️ EMS

• Standalone EMS business grew 53% YoY.

• Overseas entities recorded strong 327% growth.

• Core EMS growth remains strong, supported by automotive, industrial and high-value electronics opportunities.

📟 Smart Metering

• Smart Metering revenue declined 12% YoY to ₹204 crore.

• Management deliberately slowed production and supplies due to weak collections, prioritising cash flow and balance-sheet protection.

• Against around ₹210 crore metering revenue, collections were only ₹88 crore.

• Alternative structures, including potential divestment of the service/installation portion, are being evaluated.

• Clearer strategic roadmap expected by February 2027.

💸 Cash Flow

• Operating cash flow was negative at ₹259 crore, partly due to higher strategic inventory.

• Management remains confident of becoming operating cash-flow positive by FY27-end.

🔬 Semiconductor

• Kaynes Semicon Unit 2 remains on track to commence operations in Q3 FY27.

• OSAT + PCB FY27 revenue target maintained at ₹450–500 crore, with contribution starting from Q3.

• Semiconductor business received around ₹170 crore government subsidy.

• OSAT customer trials and validations are nearing completion, with commercial billing expected shortly.

🖥️ PCB

• Kaynes Circuit remains on track for operations in Q3 FY27.

• A major global customer has indicated demand for the entire initial PCB capacity and has already provided a vendor code.

🚗 EV

• Company has onboarded India's second-largest two-wheeler EV manufacturer.

• Close to securing business from a major global EV manufacturer.

📌 KAYNES – Q1 FY27 Concall Highlights

🛰️ Space & Defence

• Company is developing its first preview satellite, targeting launch around mid-2027.

• Subsidiaries are entering titanium gas bottle manufacturing for ISRO and DRDO.

🌎 Global Expansion

• August Electronics has completed one year of integration, strengthening Kaynes' North American manufacturing footprint.

• Kaynes Semicon has partnered with Mitsui to develop opportunities in Japan.

🎯 Outlook

• Management aims to grow at around 2x underlying market growth.

• Profitability expected to normalise over the next two quarters as forex and supply-chain pressures ease.

🏭 Capex

• FY27 capex includes around: • ₹300 crore – OSAT
• ₹300 crore – PCB
• ₹250 crore – EMS

🏦 Debt

• Consolidated net debt stands at around ₹800 crore.

• Debt-to-equity remains relatively low at around 0.3x.

📉 Margins

• Component prices have increased 30–35% in certain categories, while some PCB prices have risen as much as 3x.

• Management cautioned that FY27 could remain challenging for gross margins due to component shortages and elevated input costs.

💻 OSAT Demand

• Customer qualifications are progressing, with commercial revenue expected as facilities become operational.

• Strong early demand visibility for PCB capacity from a large global customer.

💰 Tax

• Effective tax rate stood at around 35%, impacted by intangible amortisation, intra-company interest capitalisation and losses at certain subsidiaries.

US SENATE CLEARS RUSSIA SANCTIONS BILL, INDIA FACES FRESH 100% TARIFF RISK

The U.S. Senate has passed legislation that would give President Trump authority to impose tariffs of up to 100% on major buyers of Russian oil and gas, potentially including India and China. The Senate vote was 86–11.

DELHIVERY Q1 CONCALL

📊 Financial Highlights

• Q1 FY27 revenue stood at nearly ₹3,000 crore, up ~28% YoY.

• EBITDA stood at ~₹156 crore, up ~5% YoY.

• Express parcel volumes hit a record 322 million shipments, up 55% YoY.

• PTL freight volumes increased 18% YoY to ~5.42 lakh tonnes.

• PTL yield improved to ~₹12, supporting 20%+ revenue growth.

• Supply Chain Services revenue stood at ~₹200 crore; margins were impacted by start-up costs of two large contracts.

🚀 Business Highlights

• Express parcel demand remains strong, with growth trends toward the mid-to-upper end of the 20–30% guidance range.

• D2C volumes continue to grow 40–45% YoY.

• Same-day and next-day deliveries are becoming a larger part of express volumes.

• PTL yield improvement was largely structural, supported by network quality and pricing.

• Supply Chain Services pipeline remains healthy across e-commerce, automotive and consumer durables.

🆕 New Initiatives

• Delhivery Local is scaling faster than expected, with current ARR run-rate at ~₹150 crore versus original FY27 exit target of ₹250 crore.

• Contribution margins for Delhivery Local are ahead of initial expectations.

• Delhivery Maps, based on proprietary GIS data, has been launched internally and will be offered to external customers.

• Continued investments in automation, storage systems and engineering to improve efficiency.

🎯 Management Outlook

• Express parcel growth guidance maintained at 20–30%, with trends currently toward the mid-to-upper end.

• Express service EBITDA margin target remains at 16–18%; H2 FY27 expected to move closer to the upper end.

• PTL margin targeted at ~15–15.5% by FY27-end vs 13.4% at FY26-end.

• H2 expected to benefit from seasonally stronger volumes and absorption of upfront network investments.

📈 Key Updates

• Normalised Q1 profitability could have been ₹30–35 crore higher without fuel inflation, minimum-wage increases and temporary network investments.

• 97–98% of relevant contracts now have fuel-price escalation mechanisms; full benefit expected from Q2.

• Management expects minimum-wage costs to be progressively passed through via customer pricing.

• PTL yield improvement of ~₹0.37 was largely organic; only ~₹0.06 came from fuel inflation.

• Supply Chain margins expected to stabilise during Q2 and early Q3 as new contracts ramp up.

• Ecom Express integration cost ₹17 crore in cash during Q1; statutory PAT impact was ~₹30 crore due to depreciation and other non-cash charges.

TRUMP SAYS THE U.S. IS 'LOW-KEYING IT' WITH IRAN, EMPHASIZING TEHRAN'S ECONOMIC PAIN - AXIOS INTERVIEW

TRUMP SAYS THE U.S. IS 'LOW-KEYING IT' WITH IRAN AND IS ONLY 'SEMI-NEGOTIATING' WHILE WATCHING THE COUNTRY'S WORSENING ECONOMIC SITUATION, ADDING THAT IRAN IS 'IN VERY BAD SHAPE' AND HAS LITTLE MONEY TO PAY ITS TROOPS, SAYING 'IT WILL WORK OUT. IT ALWAYS WORKS OUT. IT'S LIKE A CHESS GAME' - AXIOS

DIXON TECH:

CO-VIVO JV DEAL TO CLOSE IN 2 MONTHS; REVENUE TO REFLECT FROM Q3.

HAL:

CO REVIVES SU-30MKI PRODUCTION; ₹60,000-CRORE FLEET UPGRADE ALSO PLANNED.

BLUE CLOUD SOFTECH: CO SIGNS USD 150M (APPROX. RUPEES 1500 CR) SOW WITH SPACEX INTERNATIONAL FOR AI INFRASTRUCTURE, WITH AN 18-MONTH CONTRACTUAL TERM || CO'S M.CAP IS 430 CR

Macquarie’s Sandeep Bhatia on Divi’s Labs:

“Like Divi’s, it has done well; expect it to do well. The peptides space is very promising — continue to push that.”

MAZAGAON DOCK: CO SAYS WILL ADD TWO NEW LARGE ORDERS IN FY27

BSE : NIFTY REJIG: BSE SET FOR NIFTY 50 ENTRY, WIPRO TO EXIT - NUVAMA

• 🔄 BSE expected to be included in the Nifty 50, replacing Wipro

• 💰 BSE inclusion could trigger estimated passive inflows of around $741 million

• 📉 Wipro exclusion could lead to estimated outflows of around $246 million

• 📊 Expected BSE flows are around 6x its average daily traded value (ADTV), while Wipro flows are around 5x

• 📅 Rejig announcement expected post-market hours, with final adjustment scheduled for September 30, 2026

🟢 Impact: Positive for BSE; Negative for Wipro – Index-linked passive funds could drive substantial buying in BSE and selling in Wipro.

HITACHI ENERGY says Have A Strong Order Backlog & Will Convert Into Strong Revenues

HITACHI ENERGY Says Karjan Unit Investment Of Approx ₹1,600 Cr Will Be Commissioned In FY28, Asset Turnover 3x-5x

HITACHI ENERGY Says Expect 3-6 Months For The Barmer HVDC, A 6 GW Proj To Conclude | Q1 Cannot Be Taken As Base For Rev Growth But Strong Double-digit Growth Will Continue

HITACHI ENERGY says Orders Came From Data Center, Energy Storage & Other Sectors As Well | Will Continue To Improve Margin In Double-digits