Page 6 of Investor

Company faring better than peers on operational front due to its focus on exports; lower costs to aid margin; ‘Buy’…

CY20e Ebitda cut by 7% to factor in Covid-19; valuation is attractive; ‘Buy’ retained.

Covid-19 related gains are largely priced in; Aurobindo, Biocon are top picks; Torrent downgraded to ‘Hold’.

While pressure on volumes and realisation is expected in near term, company will gain most from demand revival; ‘Buy’ maintained.

While Q1 will bear brunt of lockdown, FY21 earnings likely to be among best in consumer sector; TP up to…

15.9/34.7% cut in FY20/21 EPS due to COVID-19; TP down to Rs 754; upgraded to ‘Buy’ given sharp correction

FY21/22e EPS up 6.4/3.8%; TP raised to Rs 535; ‘Neutral’ retained as return ratios are yet to improve significantly

Net debt to remain stable in FY21; FY21e EPS down 10% to factor in Covid-19; TP revised to Rs 1,544…

Q4 performance was steady; FY21/22e volumes cut by 40/20% due to Covid-19; TP down to Rs 261 from Rs 522

Despite near-term impact, growth story remains intact; FY21-22 EPS cut by average 20%; TP down to Rs 3,750.

FY21/22e Ebitda down 25/4% given slump in power demand; CIL’s cash position a positive; ‘Buy’ retained with TP of Rs…

Sharp release in working capital may help liquidity, while the pressures of debt maturities remain low.