We estimate the carrying value of SYMC on M&M books to be ~Rs 12.6 billion, thus a write-off of this amount may also need to be taken in case SYMC files for bankruptcy and the stake sale does not take place. But this will not
ADSEZ has turned around its Krishnapatnam (KPCL) acquisition significantly ahead of our previous estimates, leading to earnings upgrade: ADSEZ has turned around the operations more efficiently than anticipated.
While current lead cost, at ~Rs 140k/kg, is largely similar to last year’s average level, product mix is likely to worsen, with a higher mix of OEs. Hence, gross margins might come under pressure, in our view.
Collection trends in micro-banking portfolio have considerably improved since the moratorium ended, recovering to 91% in Oct (95% by number of customers) but still lagging other segments (96-98% collection efficiency in mortg
OVL’s oil production at 2.2mmt fell 5% q-o-q and 10% y-o-y, while gas production at 1.2bcm declined 6% q-o-q and 10% y-o-y. OVL reported a Q1 loss of Rs 3 bn due to lower production and subdued oil/gas prices.