We analysed NALCO’s FY18 annual report. Key takeways: Revenues from sale of metal and alumina increased 26%
y-o-y to Rs 93.7 bn driven by 21% increase in LME, partially offset by 4% appreciation of currency and 11% /3% inc
Calculated NIM on AUM expanded 140bp q-o-q, led by yield expansion, as MMFS gained market share in used vehicles and non-M&M OEMs. b) Adj. AUM grew 19.5%/6.6% y-o-y/q-o-q (ahead of our estimate), marking sturdy growth after 1
Aluminum and alumina market dynamics have turned favorable after recent events, leading to supply vacuum of 2.8mtpa of metal (Rusal and Hydro) and 8mtpa of alumina (from the world’s largest alumina refinery in Brazil owned
Fire in BASF’s German chemical plant, China resorting to factory shutdowns in a move to regulate environmental laws, and floods in the US have caused several supply-side disruptions for flavors and fragrances (F&F) players
As the impact of GST-related hiccups is waning, print ad revenues are expected to grow at a healthy 10% CAGR over FY18-20 on the back of recovery in ad spends led by increased launches across the FMCG and auto space.
Fortis Healthcare needs to recover loan of ~Rs 4.7 billion from promoter entity. Management responded that it is confident about recovering this loan, but we see this as a concern, given the financial health of the promoter e
Budget 2018: THE FInance minister was adversely positioned to present a landmark Budget. As the 2018 Budget comes against the backdrop of a difficult situation post-demonetisation, GST implementation, Gujarat election results
KPIT announced a merger with Birlasoft and a subsequent demerger of its Engineering business, effectively implying creation of two separate businesses – the combined KPIT-Birlasoft entity and the Engineering entity.
EBITDA rose 10.1% y-o-y to Rs 39 billion, while adjusted PAT increased 6.5% y-o-y to Rs 28.2 billion. Cigarette volume decline is likely to have been 2%. Calculated cigarette revenue grew 14% y-o-y, while cigarette EBIT incre
Reported power brand sales grew just 9.3% y-o-y. EBITDA rose 36.8% y-o-y to Rs 69.3 crore (est of Rs 61 crore). Adj PAT after non-controlling interest (NCI) grew 61.5% y-o-y to Rs 34.7 croe (est. of Rs 34.7 crore).