As highlighted in our recent report, the use of SDR has increased over the past few quarters, as banks look to delay stress recognition, since SDR allows current classification to continue for 18 months.
Crompton has a strong franchise in consumer electricals with leading positions in fans and pumps, and a top-three position in lighting. Despite underinvesting for many years prior to demerger in 2015, the company grew market
Amidst demonetisation driving significant demand contraction in consumer discretionary sectors, public sector contracting can be a ‘safe haven’. Subsequent push on infra spending, subject to ability to spend, can be a pos
While corporate performance in general improved slightly in the three months to June, the share of debt with an interest cover of less than 1 saw a small increase to 39% from 38%, according to a report by Credit Suisse.
HDFC Bank’s Q4 net profit was in line. Top-line growth was healthy (+22% y-o-y) on stronger-than-expected loan growth (+27%) and pick-up in fee income (+16%), as this helped offset the pick-up in opex on large branch additi
SKS management was at our AIC, represented by CFO Ashish Damani and Deputy CFO Pratap R. Management expressed confidence of sustaining 50% loan growth over a 2-3 year time frame, compared to 93% growth currently.
Dalmia announced restructuring with: amalgamation of all East assets into OCL (sale of Bokaro unit from Dalmia to OCL), amalgamation of Adhunik (North East) into DCBL (South assets). Merger of Adhunik saves tax of `1.2 billio
We recently interacted with Exide’s management; the key message was the increased focus on profitability. After clocking 4% CAGR in three years, going forward, Exide expects top line growth to accelerate to double digits.
Indian banks’ NPLs (non-performing loans) jumped an unprecedented 30% in Q3 following the RBI audit and are likely to move-up further to ~6.6% of loans by March 16 as most banks deferred the impact over two quarters.