The company targets to achieve 85% localisation by FY25.
Leveraging logistics business expansion to achieve 13-17% growth.
Company anticipates Ebitda margin boost from gSpiriva in August.
To grow its jewellery business by 20% CAGR in next 5 years.
Bank is making strong investments in branch expansion and hiring
Improvement in volumes of 2Ws & 3Ws in coming quarters
Bank’s core operating profitability is estimated to improve
The revenue/average square foot was still below the pre-COVID-19 as well as the 2018 level.
The JAL acquision should be value accretive, but execution will be key
FDA to continue to withhold product approvals from Goa plant
We raise our TP from Rs 1,565 to Rs 1,756 and upgrade to Hold
Diverse & sticky cargo to buffer the impact of trade uncertainties
Strong profit in Q1; EPS for FY23-24e down 8-11%; target price cut to Rs 185 from Rs 205; ‘Buy’ retained
Incremental loan growth driven by the low-spread individual segment; EPS for FY23/24/25e down by 3/1.6/1%; ‘Buy’ retained.
Quarter misses estimates; a margin-led earnings rebound is less material now; ‘Hold’ retained with target price of Rs 1,650.
Margins the highest in past 12 quarters; Ebitda growth of 70% y-o-y estimated for FY23; ‘Buy’ maintained.
Firm progressing on goal of diversifying business model; Buy retained with unchanged target price of Rs 4,950.
Jewellery sales expected to clock c27% growth in FY23e; ‘Buy’ retained with target price of Rs 3,000; valuations are attractive.
