Management commentary also did not assuage concerns about the lack of earnings recovery in the near term.
Revenue contribution of Central/Brand Factory/other brands stood at 49%/42%/9% for 3QFY20.
In January, the Maharashtra Cabinet cleared the proposal to keep Mumbai open 24×7.
GAIL reported Ebitda miss of 18% at Rs 20.7b (-22% y-o-y), led by poor LPG and liquid hydrocarbon performance, while…
TATA thus reported a consol PBT loss for the first time in 16 quarters. Given the challenges in the European…
RM costs likely to drag margins over the next 2-3 quarters; ‘Neutral’ maintained.
LPC intends to grow in the branded domestic formulation (DF) segment by introducing new products, and increasing reach.
GB standalone revenue increased 5% Y-o-Y to Rs 9.3b due to 7% Y-o-Y volume growth (6% branded value growth).
Earnings outlook is unclear due to worsening top line visibility; ‘Neutral’ retained as valuations are fair
Beat on Ebitda despite a revenue miss; valuations are inexpensive given prospects; ‘Buy’ retained, TP at Rs 801.
FY20/21/22e EPS down 5/1/2% to factor in outlook on biosimilars and Syngene; ‘Neutral’ maintained
Consol. adj. PAT came in at Rs1.6 bn (v/s adj. loss of Rs1.1 bn and below est. Rs2.4 bn) on…
MSIL does not expect material pre-buying in Q4FY20 as it plans to stop diesel car production beginning February. Currently, it…
While Revlimid is an interesting opportunity, it would not fructify in the next few months. Net working capital days reduced…
FY21/22e EPS down 12/16% due to lower loan growth assumption; ‘Buy’ retained.
We expect the operating performance to remain healthy, while high PCR and limited exposure to stress names will keep credit…
KMB’s loan growth is moderating due to weaker trends in the corporate banking and CV/CE portfolios.
FY21/22e EPS down 4/7% given lower loan growth assumptions; ‘Neutral’ retained with TP of Rs 1,625
