Ebitda at Jeevansathi and 99 Acres likely to surprise street; FY22-24e EBIT up 23-35%; TP raised to Rs 8,050; ‘Buy’…
Net debt to Ebitda pegged at 2x in near term; Ebitda for FY22/23e down ~3% due to AR updation; TP…
he company introduced three products in automotive segment. We expect launches of additional products with normalization of economy.
Immediate focus would be on strengthening the collection team and upfront stress recognition with adequate provisioning in Q2FY22e. Post that,…
AL expects its key exports markets (e.g. Middle East, Bangladesh, Sri Lanka and Nepal) to gradually improve as many regions…
Standalone Q1FY22 recurring EPS is down 29% YoY, hit by 77% YoY fall in net marketing margin to Rs 1.4/l,…
Base business revenues grew 84.1% YoY, two year CAGR of 7.4% to Rs 3.8billion vs estimated Rs 4.1billion.
Cut in FY22 diesel volumes; FY22e EPS down 3%; TP cut to `107; ‘Hold’ retained; GRM recovery will be key
However, considering recent rally in the stock price which has made valuations fair, we downgrade it to HOLD from Add.
Standalone revenues fell ~41% QoQ to ~Rs 119 bn while JLR revenues declined ~24% to ~GBP5 bn (ASP’s rose ~10%…
Gross margin expanded 60bps YoY to 56.8% due to higher realisations and mix benefit partly offset by RM pressure –…
Ebitda increased Rs 6500/te QoQ to Rs 26,291/te. Raw material costs + mining premium increased by Rs 3784/te QoQ. Increase…
The total gross free cash balance has shrunk from Rs 71bn in Q4FY21 to Rs 56bn in Q1FY22, debt excluding…
We highlight that ITC has high revenue salience from south India (ala Jyothy Labs, V-Guard etc.) and hence stricter lockdowns…
The firm has gained market shares in most segments (our view) as its price hikes were relatively lower than unorganised/smaller…
Two-year revenue growth CAGR of 4% was a surprise; earnings CAGR of 17.3% estimated for FY21-23; ‘Add’ retained with TP…
Hatsun has commenced Solapur plant in Q4FY21, Dharapuram (TN) plant in Q2FY22 and plans to commence Govindapur, Telangana plant in…
While turnaround signs are a positive, sustainability of growth is key; ‘Sell’ retained with TP raised to Rs 485
