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These 3 Companies Beat the Street Estimates And Returned More Than 10% After FY23 Results

26 Jun 2023

Introduction:

Investors eagerly await the year-end results of companies. These reports provide a comprehensive picture of a company's financial performance and help investors choose stocks for their respective financial goals. With FY23 coming to an end, it is time to explore companies that have performed well in the previous financial year. In this article, we will learn about three companies that beat the street estimates and returned more than 10% after their FY23 results. 

Top 3 companies with high than 10% returns

1. ITC Ltd

ITC Ltd is an Indian company operating in different sectors, including hotels, Fast Moving Consumer Goods (FMCG), packaging, paperboards and specialty papers and agri-business. The company has a market capitalization of Rs 5,55,967 crore, as of May 30, 2023, with a P/E ratio of 29.03. ITC Ltd has seen a 59% increase in its share price over the past year. Its 52-week high is 451.80, and its 52-week low is 258.55. 

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ITC Ltd showcased a surge of 29.32% and is one of the top-performing companies of the last year, with a dividend yield of 2.84%. 

2. Tata Motors Ltd

Tata Motors Ltd is an automotive manufacturing company based in India. The USD 37 billion organization is India's largest automobile manufacturer and offers a diverse portfolio of products, including buses, trucks, SUVs, pickups and defence vehicles. The company sells products in over 125 countries and has a market capitalization of Rs 1,73,291 crore as of May 30, 2023. It has a P/E ratio of 71.83 and a dividend yield of 0.38%. 

The company has witnessed a growth of 22.98% in 2023. The company also saw an increase in its global wholesales by 8% between January and March (Q4 FY 23). Moreover, the company’s global wholesales in Q4 FY23 were up by 10% from Q4 FY22.

With a stellar performance in the recent past and a goal to be the most aspirational Indian auto brand by FY 24, Tata Motors Ltd is one of the companies to keep an eye on.

3. Bajaj Auto Ltd

Bajaj Auto Ltd is one of India’s leading manufacturers of motorcycles and three-wheelers. With 75 years of industry experience, the Pune-based manufacturer is a household name in the country. The company has sold over 18 million motorcycles in approximately 70 countries so far. Bajaj Auto Ltd is also the world’s largest manufacturer of three-wheelers and the first Indian two- and three-wheeler company to reach a market capitalization of Rs 1 trillion.

The company presently has a market capitalization of Rs 1,30,863 as of May 30, 2023. Its P/E ratio is 21.58, and the company has a dividend yield of 3.03%. The company saw a growth of 23.42% in 2023, making it one of the top-performing stocks. Bajaj Auto Ltd also exceeded street expectations with a net profit of Rs 1,433 crore in Q4 FY 23. 

To sum it up

The FY23 results of these three companies have exceeded market expectations and delivered impressive returns of over 10%. Investors can keep a close eye on these companies as they have the potential to demonstrate promising returns in their respective sectors in the future. However, it is vital to note that past performance is not always indicative or a guarantee of future returns. Investors must conduct thorough research and analysis before making any investment decisions.

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