Friday 05 Jul '13We maintain our ‘neutral’ rating for Coal India (CIL) with a target price of R340. We expect CIL to report profit of R20,000 crore in FY14 (up 13.5% y-o-y) and R21,000 crore in FY15 (up 5% y-o-y). CIL trades at nine times FY15 EPS and 5.3 times FY15 EV/Ebitda.
Friday 17 May '13We maintain our ‘neutral’ rating on Nestle India and assign a target price of Rs4,900 per share. At the current market price, the stock trades at 35.6x and 29.3x CY13e and CY14e earnings, respectively.
Monday 28 May '12Key investment arguments: Equity funding requirement for entire 3 GW (giga watt) of projects under construction is largely met. Returns on these projects are capped and thus provide limited upside.
Saturday 26 May '12For FY12, BHEL posted revenue of R49,500 crore (up 20%), adjusted Ebitda of R9700 crore (up 21%) and adjusted net profit of R6,900 crore (up 21%). The reported numbers are largely in line with the provisional numbers.
Monday 14 May '12HDFC reported PAT (profit after tax) at R13.3bn (vs est of R12.3bn) led by better than expected margin performance (net operating income 11% above estimate.) Business growth remained healthy and asset quality impeccable.
Thursday 27 Oct '11In Diwali 2010, Indian markets were in a euphoric mood. The Sensex was at a new high of 21,000 points and the Sensex P/E was at 25% premium to the 15-year average, with foreign institutional investment at an all-time high of $29 billion for calendar year 2010.
Saturday 21 May '11Opto Circuits reported 62.8% y-o-y growth in revenue at R544crore. EBITDA grew 7.3% y-o-y to R119crore; EBITDA margin contracted by 1,130bps to 21.9%. Adjusted PAT grew 57.6% y-o-y to R110crore, boosted by other income of R18.8crore.
Monday 08 Nov '10Nalco’s Q2FY11 profit after tax went up 41% YoY to Rs 2.2 bn, below our estimates of Rs 3.3 bn due to lower-than-expected alumina reali- sations and higher-than-expected power and fuel costs due to seasonal reasons.
Monday 08 Nov '10ICICI Bank’s second quarter FY11 net profit grew 19% year-on-year to Rs 1,240 crore, versus our estimate of Rs 1,160 crore. Adjusted for the merger impact, net interest margin and profit after tax growth would be 3-4% higher than our estimates.