Bharat Petroleum (BPCL) reported subdued Q2FY17 performance with PAT of R13 billion (down 50% q-o-q, up 26% y-o-y). EBITDA at R14 billion was 50% below estimate; however higher than expected other income (3x) implied only a 2
Britannia’s 11.3% y-o-y revenue growth was in line, while EBITDA and PAT surge of 4.5% and 5.8% y-o-y, respectively, came slightly below estimates. Overall volumes grew 7% y-o-y, dragged by dip in bread and international bu
GSK Consumer’s (GSK) Q2FY17 revenue, EBITDA and adjusted PAT came in line with our estimates—revenue dipped 1.7% y-o-y (~1.3% y-o-y fall due to one-off accounting adjustment impact) and EBITDA & adjusted PAT jumped 3.0% a
Jubilant FoodWorks’ (JFL) Q2FY17 revenue came in line, while PAT came below estimate due to lower gross margin. Though SSG came at 4.2% (in line with our 4% estimate), it had the benefit of shift of Ramadan dates.
LIC Housing Finance’s (LICHF) Q2FY17 PAT, at Rs 4.95 billion (up 20% y-o-y), was better than our estimates on improved NIMs (up 7bps q-o-q). While overall disbursements were below trend (up <10% y-o-y), the quarter saw c
Mahanagar Gas (MGL) is India’s third largest city gas player with quasi-monopoly in Mumbai and adjoining areas. Our deep-dive analysis of Asian peers indicates that MGL (along with Indraprastha Gas) is the purest play on st
Jindal Steel & Power's (JSPL) consolidated Q1FY17 EBITDA of Rs 9.8 billion (flat y-o-y) surpassed consensus as well as our estimates due to lower operating cost at steel division, higher pellet sales and good performance of J