Page 9 of Investor

There is slowdown for select rural-centric players but higher-urban-salience companies are likely to more than pick up the slack

Greater share of premium products has ensured high realisations; ‘Buy’ retained

The single biggest takeaway from RBI’s FSR is that they are expecting NPLs to increase by 60bp from 9.3% in…

While matured hospitals (41% of sales) and pharmacy business (40%) are expected to see steady growth with gradual margin expansion,…

The acquisition of KPCL significantly increases ADSEZ’s footprint on the East Coast and should increase access to the southern hinterland…

Combined entity’s revenue grew ahead of HUVR; focus on topline to persist

Companies with higher share of PPC in sales mix and greater exposure to North region will be affected

Demand recovery in store in CY20; ~19% EPS CAGR estimated over FY19-22; risk-reward is attractive; ‘Buy’ maintained

Overall proposed cuts will imply only 0.5 mn b/d of reduction in oil production from the levels achieved in November…

Century– rebranding & revamping of assets to improve margins: The company has already started to turn around its recently acquired…

Prospects very bright in the medium term given reasonable valuations and potential jump in RoCE; ‘Buy’ maintained.