The company intends to pass on some part of the savings to delivery partners, which should help improve their compensation…
Cigarette and FMCG saw impressive numbers; FY22 a year of recovery; ‘Buy’ retained with unchanged target price of Rs 305
FCF generation was strong and leverage at 2.5x was comfortable. We lower our Ebitda estimates by 1-2% on higher diesel…
Volumes were flat in Q4; margins to continue facing pressure due to inflation; stock may see near-term volatility; ‘Buy’ maintained.
Earnings estimates raised by 2-3%; improvement in RoA/RoE to drive next leg of re-rating; target price up to Rs 1,070;…
50-100 bps weight cut on India in the last 3-6 months; earnings growth of c15% estimated for Nifty in FY23
Pricing momentum needs to be maintained; IGL remains the top pick; the near-term outlook is soft for Gujarat Gas
FY23 guidance suggests strong demand outlook; FY23/24e EPS cut by 3-6% due to margin pressure; Buy retained with TP of…
Deleveraging continued in Q4; outlook is robust; ‘Buy’ maintained with TP of Rs 1,475
Management, in the last three years, discussed its renewed focus to gain share from roads in the domestic space.
Sizeable scope for ARPUs to rise; investments and initiatives expected to lead to 20% Ebitda CAGR over FY22-24e; ‘Buy’ retained
The CSM revenue CAGR of Indian players (35% over FY18-21) has outstripped their Chinese counterparts (16%), suggesting market share gains.
Gland has a relatively limited launched portfolio in the Rest-of-World Market and India, which will expand to provide growth opportunities.
Assam waiver not factored into estimates; growth has improved; RoEs expected to move towards 20%; Buy retained with TP of…
Inflation denting sales; RM costs and adverse mix likely to keep margins under pressure in Q4; Buy retained with TP…
Protection sales were affected by supply constraints and tighter reinsurance stance, but can normalise in 6-12 months with limited impact…
L&T announced 18% of orders in railways, 39% in hydrocarbon and 12% in power T&D and water each in the…
Firm could adopt a faster sales trajectory; correction’s a BUYing opportunity
