In FY23, core operating EPS jumped almost +295% due to the lower base effect of various incubating businesses (airports, roads); the trend may continue in FY24-25 too
Published : June 2023
The company has a strong presence in tier III and tier IV markets, where brand penetration is relatively easy, and dealers have more power to influence customers’ buying decisions and these markets allowed the company to expand its brand and presence in the Indian market.
Published : June 2023
With an installation base of 5,000 turbines in more than 70 countries, TRIV is the second largest industrial steam turbine player globally. Triveni turbine looks strong with increasing order book along with rising export opportunity
Published : June 2023
Akshay Rajawat
SOM Distilleries & Breweries Limited is only listed company in India having both Beer and IMFL, which complement each other and minimizes risk of seasonality while providing marketing efficiencies. The company continues to focus on enhancing brand presence through CSD and market expansion in states including Uttar Pradesh and Delhi in addition to existing stronghold markets.
Published : June 2023
Enforcement of BS-VI standards, government’s policy support and cost-effective manufacturing base are some factors which should support automotive industry and Precision Camshafts Ltd is likely to gain. Healthy market position in passenger vehicle camshafts and stable financial risk profile are some of factors which should act as principal growth enablers.
Published : June 2023
Pidilite is a leading manufacturer of adhesives and sealants, construction chemicals, crafts products, DIY products, and polymer emulsions in India. Pidilite has divided its business into two segments – C&B product segment (C&B; includes adhesives, sealants, art and craft material and others, construction, and paint chemicals) and the industrial product segment (IP; which includes industrial a...
Published : June 2023
Info Edge (India) incorporated in 1995 is primarily in the business of operating multiple internet-based services through its various web portals and mobile applications and long-term value investing. It currently operates in four service verticals - recruitment solutions, real estate services, matrimonial services, and in education services.
Published : June 2023
Ashish Ghosh
Nifty earnings may be boosted by improving macro, huge fiscal/infra stimulus, growing affluent middle class, RBI/Fed pause, and higher USDINR
Published : May 2023
Incorporated in 1987, Prince Pipes and Fittings Limited (PPFL) is one of India’s leading polymer pipes and fitting manufacturers. It manufactures different types of polymer pipes such as Chlorinated Polyvinyl Chloride (CPVC), Unplasticized Polyvinyl Chloride (UPVC), High-density Polyethylene (HDPE) & Polypropylene Random (PPR) and fittings for CPVC, PPR, and UPVC pipes.
Published : May 2023
Ashish Ghosh
RBI raised corporate governance concerns and smart/innovative accounting methods being employed by some banks to hide NPA and ever-green stressed assets
Published : May 2023
APOLP will continue to lead industry performance (15%/16%/23%/27% CAGR in volume/revenue/EBITDA/PAT over FY22- 25E), in our view, through key long-term growth drivers.
Published : May 2023
RIL is a big beneficiary of Russia-Ukraine geopolitical tensions and economic sanctions on Russian oil, especially in the EU
Published : May 2023
Akshay Rajawat
Ashish Ghosh
The market is now expecting an RBI pause in June; Nifty EPS declined to 835 so far in Q4FY23 against 850 sequentially and 809 yearly; FY23 estimate 875
Published : May 2023
Growth drivers of Patel Engineering Limited include increased government focus, increased funds earmarked for developmental activities, strong order book, favourable industry dynamics and recent project wins. Under National Infrastructure Plan, government has proposed expansion of National Highway network by 60,000 km by 2025 in strategic locations, major economic corridors, and major cities suc...
Published : May 2023
With almost $10B order in hand for FY24, Infy may beat the subdued guidance despite the chorus of an imminent recession in U.S-Europe
Published : May 2023
Akshay Rajawat
A good business model in temporary distress amid the Adani saga; like steel, the cement industry is also a major beneficiary of India’s infra boom
Published : May 2023
Ashish Ghosh
RBI minutes show RBI has opted for a tactical pause on 6th April, not pivot; RBI may hike again on 8th June if Fed goes for a +25 bps hike each in May and June
Published : April 2023
TCS is one of the big beneficiaries of digital transformation by global corporates to optimize cost, and business processes and stay ahead of the competition
Published : April 2023
Tata Steel may scale around 130 by Sep’23, 159 by Mar’24, and 195 by Mar’25 amid stable steel prices/realizations and India’s infra push
Published : April 2023
Akshay Rajawat
Ashish Ghosh
RBI gave priority to financial stability over price stability, depending on actual Fed rate action, RBI may or may not hike in June and is very close to a pivot
Published : April 2023
Ashish Ghosh
At FY24 projected EPS around 956*20 (average PE), Nifty may scale around 18900-19100 by Mar’24
Published : April 2023
Voltas may now fall towards 735-600-535 levels on the loss of market share, thin EBITDA margin, and tepid discretionary consumer demand
Published : March 2023
Krishan Varma
Shalom Martin
RIL may scale 2866 by June’23, 3392 by Mar’24, 4017-4758 by Mar’25 amid expected robust O2C, retail, telecom/digital and Oil & gas (E&P) business
Published : March 2023
HSBC Webinar with Jubiliant Foodworks Management Meet Note
Published : March 2023
Greenpanel Industries is anticipated to record increasing revenue along with strong surge in demand and growing customer base, with EBITDA, and PAT CAGRs of 17%/15%/23%. It is currently trading at 18x/15x FY23E/24E EPS.
Published : March 2023
Ashish Ghosh
But the Indian banking system is now quite resilient after years of consolidation, various regulatory reforms, and also elevated NIM/NII regime
Published : March 2023
JSW Steel may scale around 741-963 by Mar’24-Mar’25 on expected higher demand driven by India and China coupled with better realizations/spreads
Published : March 2023
Akshay Rajawat
Ashish Ghosh
February RBI minutes show ongoing rate hikes at +25 bps till at least June’23 to keep pace with Fed and to bring down India’s sticky core inflation
Published : March 2023
Aditya Sharma
Shalom Martin
IPO Analysis: Divgi Torque Transfer System Limited
Published : March 2023
Krishan Varma
A Q3FY23 Result Analysis
Published : February 2023
Over past couple years, Prozone Intu Properties Limited amassed winning land bank in strategic emerging micro-markets. Focus on generating free cash flows should act as principal growth accelerator. Real estate sector growth should seek support principally from growth in corporate environment.
Published : February 2023
Meghna Rathod
Krishan Varma
Ashish Ghosh
But RBI may also go for rate cuts in early 2024, just ahead of the general election if India’s sticky core inflation indeed falls below 5% on a sustainable basis
Published : February 2023
Borosil limited is poised for a sustainable growth, with increasing CAGR of 27% from FY23E -FY25E.
Published : February 2023
With over 50 brands spread across 15 different categories, the company offers a wide range of products, including fabric solutions, home & hygiene, life necessities, skincare, cosmetics, hair care, oral care, deodorants, tea, coffee, ice cream & frozen desserts, meals, and health food drinks (HFD).
Published : February 2023
ACC may be another example of a good business model in temporary disruption amid Adani's chaos; may scale 2900-4500 levels by Mar’24-Mar’26
Published : February 2023
With more than 70 years of expertise in the diagnostics industry, Dr. Lal Pathlabs is India's premier and most reliable diagnostics organization. It has a comprehensive array of diagnostic and related healthcare tests and services available to patients and healthcare professionals for use in patient diagnosis, core testing, and the prevention, monitoring, and treatment of illness and other healt...
Published : February 2023
KFO
As we enter 2023, India could continue to benefit from a high investment-to-GDP ratio (at 33% in FY23 versus 30.5% in FY21), higher infra, railway, road, and defense spending by the government; continued revival in the real estate sector, PLI-driven investments and supply chains are being consciously decoupled as national security concerns outdo economic efficiency.
Published : February 2023
Balkrishna Industries (BKT) is the leading producer of off-highway tyres. BKT is present in specialized markets such as turf care applications, agricultural, construction, industrial, earthmoving, port, and cross-ply & radial construction.
Published : February 2023
GAIL, which was founded in August 1984, has commercial interests in petrochemicals, LPG and liquid hydrocarbon production, city gas distribution, and natural gas marketing and transmission (CGD). Over the next three years, Gail Gas sales are anticipated to grow by about 10% annually. In the following three years, it would incur a CAPEX of 4,000 crores. The business plans to install more than 100...
Published : February 2023
A full-service rating organization that provides a variety of rating and grading services across industries is Credit Analysis & Research Ltd. (CARE). In less than 30 years, CARE, which was founded in April 1993 and was supported by several banks and financial organizations, has grown to become the second-largest credit rating agency in India in terms of rating income. Additionally, CARE Ratings...
Published : February 2023
Ashish Ghosh
But Nifty may scale around 21400 by FY24 (projected consolidated EPS 1070 and average PE 20)
Published : February 2023
Dreamfolks Services Limited - A Business Analysis
Published : February 2023
Paradeep Phosphates Limited: A Business Analysis
Published : February 2023
KOEL is expected to achieve a 43% earnings CAGR over the years FY22 to FY24E. As ARKA Fincap's capital infusion nears completion, KOELs balance sheet will be further strengthened as the company continues to produce an average FCF of INR 3.4 bn per annum (FY17–22), allowing it to close the current significant value gap with its competitors in the backup power market.
Published : February 2023
In FY23, opening order book of Rs7bn, which grew 88% year on year (24%), we expect the company to report a 46% revenue CAGR with improving EBITDA margin from FY22 to FY24.
Published : February 2023
Customer-centric approach and diverse suite of offerings are expected to lend support to Karur Vysya Bank. In commercial banking group, Karur Vysya Bank is focused to adopt cluster-based approach to cater to MSME market specially in agro-based industries, retail, pharmaceuticals & health care, etc. Strong distribution network and sticky customer base should act as principal growth enablers of Ka...
Published : February 2023
Gold Finance NBFCs are facing strong competition in the market but still their is a bright future ahead for NBFC's because of under-penetration in the field of gold financing and addition of new customer will keep their growth story intact.
Published : February 2023
TCS may scale 3900-4700 levels by Mar’23-Mar’24 on higher revenue growths and better EBITDA margin in the coming days
Published : February 2023
One of the biggest companies in the MFI sector, SCNL has a broad regional reach. Through subsidiaries, the corporation entered the MSME and home finance segments, which might stimulate development despite weaker asset quality. Additionally, by diversifying geographically, it is lowering its risk. A reliable source of additional income is growing for Indusind Bank's BC (Banking Correspondent) bus...
Published : January 2023
The third-largest forging company in India, MM Forgings Ltd. (MFL), controls a sizeable portion of both the domestic and international markets for forging products for the CV segment. By the end of the company's 23rd fiscal year, capacity is anticipated to increase to 130,000 tonnes. It is increasing its emphasis on EV products and broadening its selection of machined goods, which is producing h...
Published : January 2023
Tata Consultancy Services Ltd: Q3FY23 Earnings Highlights
Published : January 2023
Godrej Consumer Products Limited: A Q3FY23 Business Updates
Published : January 2023
Ashish Ghosh
India’s economy may grow around 6.50-7.00% and Nifty earnings 15-20% in FY24. India has a huge potential to improve its GDP/Capita, now lowest in G20
Published : January 2023
Cantabil Retail India Ltd. to improve its expansion rate along with improving EBITDA and PAT margins.
Published : January 2023
Radiant Cash Management Services Ltd: A Emerging Business
Published : January 2023
Aditya Sharma
J.B. Chemicals and Pharmaceuticals Limited (JBCPL), established in 1976, is one of the fastest growing pharmaceutical companies in India and a leading player in the hypertension segment. The company has a strong presence in India while Russia and South Africa are the other key markets for the company.
Published : January 2023
ICICI Bank may scale 1154 by Mar’23 and 1385 by Mar’24 amid steady business growths, lower NPA provisions/credit costs, and higher NIM
Published : December 2022
CMS Info Systems Ltd: A Leading Cash Management Company
Published : December 2022
A larger addressable market and improved operational performance in the company's two-wheeler sector have set Eicher Motors Limited (EML) up for a robust recovery and performance up-shift. the valuation is yet to catch up expected recovery in performance, as the stock trades at a 20-25% discount to its historical average multiples, at 24.9x P/E and 21.7x EV/EBITDA on FY2024E estimates.
Published : December 2022
The Praj Industries stock is currently trading at a P/E of 30.5x/24.1x on FY23/24E earnings. The company’s EBITDA improved from Rs687mn in FY17 to Rs1,938mn in FY22, owing strong traction in domestic business and better operational efficiencies.
Published : December 2022
Aegis Logistics Limited is a leading oil, gas, and chemical third-party logistics company. It operates a network of bulk liquid handling terminals, liquefied petroleum gas (LPG) terminals, filling plants, pipelines, and gas stations to deliver products and services for its client base which includes many leading industrial companies in India as well as individual retail customers who are served ...
Published : December 2022
Gujarat Alkalies & Chemicals Ltd. (GACL) is the second-largest participant in the local caustic chlorine business with integrated operations. A diverse range of industries, including textile, pulp and paper, aluminum, detergents, soaps, rayon, plastics, pharmaceuticals, water treatment, and agricultural chemicals, use the company's wide range of products, which include caustic soda, liquid, and ...
Published : December 2022
PGCIL has had a near monopoly in establishing and maintaining the power transmission assets of India over the years. It has earned predictable returns on its investment due to regulated ROE based tariff payout structure on majority of its capitalized transmission assets. The increased capitalization over the last few years augurs well for near term earnings however the reduced capex intensity wi...
Published : December 2022
Ashish Ghosh
RBI may hike further by +25 bps each in February and April for a terminal rate of +6.75%
Published : December 2022
Sansera Engineering Ltd. looks strong in its financial with increasing costumer base and order book domestic as well as globally.
Published : December 2022
Route Mobile looks strong among its peers. Post 35% correction in share price, Route Mobile currently trades at 26x FY24 EPS. Due to its strong revenue growth (both organic & inorganic), consistent track record of profitability, and high return on equity, we expect Route to achieve 35x FY24 EPS.
Published : December 2022
Aditya Sharma
Devyani International is the largest Franchisee of Yum! Brands and operates the highest outlets of KFC, Pizza Hut, Costa Cofee in India, and the company is the largest operators of quick-service restaurants chain in India. It operates 655 stores across 155 cities in India, as of March 31, 2021.
Published : December 2022
Business and financial risk profiles should sustain in medium term due to strong market position, healthy operating efficiency, and expectation of adequate subsidy budget allocation by Indian Government. Healthy liquidity and comfortable financial risk profile should continue to support investments in long-run. Established market position and operating efficiency are expected to act as principal...
Published : December 2022
Focus on high growth segments and implementing critical initiatives are expected to act as growth enablers for Bharat Rasayan Limited. Wide marketing and distribution network should help Bharat Rasayan Limited to see healthy revenue growth. Strong capital structure, and healthy debt coverage indicators should enable the company to make further investments.
Published : December 2022
TTK Prestige Limited (TTK) a company which includes Prestige, Judge, and Prestige Xclusive as its brands largely operates in the Kitchen Appliances section and have a wide range of products including pressure cookers, cookware, gas stoves and domestic kitchen electrical appliances.
Published : December 2022
Sumitomo Chemical India Ltd. (SCIL) is one of the leading players in the industry which has a balanced portfolio of technical as well as formulation products along with backward integration for some products. The Company is known for domestic marketing of proprietary products of its Japanese parent -Sumitomo Chemical Company Limited in agrochemicals, animal nutrition, and environmental health bu...
Published : December 2022
The main activities of Satluj Jal Vidyut Nigam Limited also referred to as SJVN Limited, are the production and sale of electricity. The business is a Mini Ratna and a joint venture between the governments of Himachal Pradesh and India (GOHP). The Government of India (GoI) owns a 59.92% equity ownership in SJVN, while the Government of Himachal Pradesh (GoHP) owns a 26.85% stake.
Published : December 2022
Home First Finance Company India (HFFC) Q2FY23 Performance; Consistency remains same
Published : December 2022
Polycab looks fundamentally strong in the field of FMEG at 28x FY23E EPS for further upside potential from its CMP.
Published : December 2022
Intellect Design Arena look attractive and financially strong with increasing service revenue imparted by SaaS and leading partnership with Microsoft to jointly sell Intellect’s iGTB products.
Published : December 2022
Vaibhav Global Limited (VGL), through its distinctive business model, has created a niche for itself in the global retail space, especially in the jewellery, accessories and lifestyle product segments of two of the largest economies of the world - the US and UK.
Published : December 2022
Revenue growth of CyberTech Systems and Software Limited is likely to stem from sales and digital sales, cashflow management, focus on high-margin products, etc. Increased use of geospatial analytics, internet penetration, infrastructural developments, growth in cellular networks, and other key factors should support growth of geospatial industry. Both margins and revenue growth of the company s...
Published : December 2022
Balkrishna Industries Limited (BKT) started its Off-Highway tyre business in 1987. For over 30 years, BKT has successfully focused on specialist segments such as agricultural, construction and industrial as well as earthmoving, port and mining, ATV, and gardening applications.
Published : November 2022
Cholamandalam Investment & Finance Company is one of the premier diversified non-banking finance companies in India, engaged in providing vehicle finance, home loans and Loan against property.
Published : November 2022
The Indian Hotels Company Limited (IHCL), a South Asia’s largest hospitality-focussed enterprise with Indian origins is part of this group. IHCL has a portfolio of total 235 hotels, where 175 of these hotels are operational over 100 locations at 12 different countries across 4 continents and has 28,107 keys (including hotels under various stages of development). Also, on 31st March 2022 IHCL h...
Published : November 2022
Axis Bank may scale 1031 by Mar’23 and 1435 by Mar’25 on the robust business model, steady advance growths, and resilient NIM
Published : November 2022
Borosil Renewables is one of the flagbearers of renewable energy theme based investing and the company is one of the few located outside of China that is really looking to make its mark in an otherwise Chinese dominated industry structure.
Published : November 2022
Krishna Institute of Medical Sciences is a multi-specialty hospitals under the “KIMS Hospitals” brand, with an aggregate bed capacity of 3600+. It is a strong brand in Andhra Pradesh and Telangana associated with high degree of medical competency under the leadership of Dr. Bhaskara Rao Bollineni.
Published : November 2022
Craftsman Automation is a diversified engineering company with integrated manufacturing operations. Its core competence in the powertrain segment includes its machining abilities, wherein it is the largest player in machining of cylinder blocks and cylinder heads for the M&HCV and construction equipment space in India. It is also one of the top players in the manufacturing of aluminium castings ...
Published : November 2022
Over long term, Mahindra Holidays & Resorts India Ltd. continues to focus on expanding resort network at an accelerated pace. It has multiple annuity revenue streams and enhanced operational efficiencies. Key growth differentiators include its unique and solid business model and large base of loyal and committed members.
Published : November 2022
Ceat Ltd. looks strong among its peer for further growth and increase in its CMP from its current level imparted by increasing EBITDA margin and PAT by FY24.
Published : November 2022
Cyient Ltd looks attractive at CMP for further upside potential of 38% by FY24 due to favourable global market sentiment and increasing order book.
Published : November 2022
Tata Metaliks looks strong for further up move of 35 to 38% from its CMP with increasing EBITDA by CAGR of 28% and PAT by 39% by FY24.
Published : November 2022
Ashish Ghosh
Nifty may scale 21000 levels by Dec’23 (projected FY24 EPS around 1050 and average PE 20) if there is no WW-III (nuclear war) triggered by Russia
Published : November 2022
The company believes it is future ready, with plans of balance sheet management and new capital expenditure in place. GDL aims to invest in Rail linked satellite terminals in North India. Over next 2 years, the company plans to incur capex of INR250 Cr.
Published : October 2022
Logistics industry should be able to continue its robust growth, but 3PL logistics should be able to grow at a rapid pace and lead to growth of fulfilment logistics, channel consolidation and cross border logistics. Asset-light business model and favourable market dynamics should act as principal growth enablers. Mahindra Logistics Ltd focuses to be INR10,000 Crores logistics service provider by...
Published : October 2022
Infy is a major beneficiary of global inflation as companies are now embarking on cost optimization by adopting greater automation, digital and cloud adaption
Published : October 2022
Aether Industries Ltd. looks strong for an up move of more than 28% from its CMP with a CAGR growth of 42% by FY24.
Published : October 2022
Heranba Industries is a fully integrated crop protection chemical manufacturer based out of Vapi, Gujrat. The company is a leading producer of pyrethroid based pesticides and is present across entire value chain of the manufacturing process.
Published : October 2022
Home First Finance Company looks strong for an upmove of 18% from its CMP along with growth in CAGR and PAT by 25% and 16% by FY23.
Published : October 2022
Ashish Ghosh
RBI may like to keep the repo rate at +7.50% against average core inflation around +6.00% and a probable Fed rate of +5.50%
Published : October 2022
Focus on digital marketing, online booking of apartments and collections yielded results in difficult times when India was under lockdown. Strong balance sheet is an added advantage and Brigade is in a good position to manage operations. Business obligations should be met by maintaining adequate liquidity. In real estate, it has strong pipeline of ongoing projects of ~17.03 Mn sft.
Published : October 2022
Plans are there to target profitable growth and Nazara Technologies Limited prioritizes growth over profit maximization so that it can achieve and maintain market leadership in all segments. It has a diversified and de-risked business model, having several levers of long-term growth.
Published : October 2022
Hindustan Foods at the CMP of Rs475 looks strong for further upside potential, the stock trades at 90x FY22 EPS, reflecting premium valuations driven by a high, 55%, profit CAGR over the last three years and lack of alternatives in the space.
Published : October 2022
LIC is the 3rd strongest global insurance brand, with ~28.07 crore policies being serviced and ~13.33 lakh agents.
Published : October 2022
To become the world’s most respected and valuable auto technology company for our customers, employees and shareholders.
Published : October 2022
We are one of India’s leading developers with over three decades of experience. We have transformed the city skylines of Bengaluru, Mysuru, Hyderabad, Chennai, Kochi and Ahmedabad with our developments across Residential, Offices, Retail, Hospitality and Education sectors.
Published : October 2022
We believe KTKM is positioned for an earnings upgrade cycle; estimate growth by 7%/13% for FY23E-FY25E on higher margins and lower loan-loss provisions. We expect Kotak Mahindra Bank to achieve market capitalisation of US$100Bn by FY25E.
Published : October 2022
Recovery in media and entertainment sector and growth in entertainment consumption are expected to act as principal growth enablers. The company marked its entry into broadcasting space by launching 2 new channels – Shemaroo MarathiBana and Shemaroo TV. This entry into broadcasting should be considered as a long-term strategic investment towards taking a bite of large advertising pool and this...
Published : October 2022
An emerging player in a niche segment of waste collection, transportation and processing, Antony Waste Handling Cell is a play on rising urbanization and the ensuing waste generated due to our carefree lifestyle.
Published : September 2022
A business that appeared resilient and experienced strong growth during Covid has faltered during recent quarters. The stock has more than halved during the last 1 year and looking at the chart it seems like the business is doomed, but, is it?
Published : September 2022
Ashish Ghosh
Looking ahead, jumbo Fed hiking and elevated domestic inflation may force RBI to continue to follow the Fed hiking path and RBI may hike +0.50% on 30th September
Published : September 2022
Focus on cost reduction and improvement in production efficiencies should lend support to next leg of growth. Support of regulatory environment and opportunities offered by global clinical supplies market should help Bilcare Limited achieve reasonable growth rates.
Published : September 2022
Kirloskar Oil Engines Ltd. (KOEL), a leading diesel genset player with dominant market share of 24%. KOEL has developed strong manufacturing base with eight manufacturing facilities and presence across thirty countries.
Published : September 2022
Sagar Cements Limited (SCL), established in 1985, is a south India based cement manufacturer with a capacity of 8.25MT (South-5.75MT, Central-1MT, East- 1.5MT). SCL has a total captive power capacity of 66.85MW.SCL’s capacity has grown at 10% CAGR and reached 8.25MT, and targets~10MT by FY25. Revenue/PAT grew at a CAGR of 11%/28% during the last 5Yrs.
Published : September 2022
Acrysil is a rising smallcap delivering quartz sinks across the world. A testament of its quality is reflected in the presence of IKEA as the company's client. The company is also trying to expand its portfolio with products like premium bathroom fittings, built in appliances for modern homes among others.
Published : September 2022
EPL’s product is probably the first thing we interact with when we wake up. EPL manufactures the tube in which toothpaste, beauty creams and medical ointment are packed. It is the medium through which we identify our favorite brands and use them on a daily basis.
Published : September 2022
Apcotex Industries was started as a division of Asian Paints in 1991. The division was later spun off as a separate company, which was headed by Mr. Atul Choksey, former MD of Asian Paints. It is currently a leading producer of synthetic rubber and latex in the country.
Published : September 2022
4 decades of leadership in Industrial Bio-technology Space
Published : September 2022
Leader in Lifestyle Kitchen Products
Published : September 2022
With a focus on EV transition, JLR reimage, cost control, deleveraging, and buoyant domestic operations, Tata Motors may scale 540-648 by FY: 24-25
Published : September 2022
Delivering in Style since 1979
Published : September 2022
Supriya Lifescience Ltd. looks fundamentally strong for a good upside potential of 35% from its CMP of Rs.332
Published : September 2022
Surana Solar Limited manufactures Solar Energy Systems with the focus on solar Photovolatic PV Modules.
Published : September 2022
Faze Three Limited (FTL), promoted by Mr. Ajay Anand in 1985, is engaged in manufacturing and export of superior quality high-end Home Textile products supplied to top retailers across the globe. It has a diversified product line, main products include Bathmats, Chair pads, Blankets, Rugs, Throws, Floor covering, Bedspreads, etc. Currently, the floor covering segment is the dominant product cate...
Published : September 2022
MTAR technologies is a leading player in precision engineering industry with huge growth potential and looking attractive for an upside potential of 25% from its current market price.
Published : September 2022
Coal India Limited (CIL) – incorporated in 1975 post the government took over private coal mines, had production of 79MT at the time of inception. Today, CIL is the largest coal producer in the world. Its raw coal production in FY22 stood at 623MT, up 4.4% YoY. On Oct’10, the GOI divested a 10% stake in CIL for Rs 15,200 Cr through an IPO and got listed on the stock exchanges. After the IPO,...
Published : August 2022
Fiem is trading at a valuation of 14x 1-year forward P/E multiple after the recent steep rally. It has a good upside potential of 17% from its CMP.
Published : August 2022
Ashish Ghosh
RBI may hike another +75 bps minimum till Feb’23 (@25 bps) for a terminal rate +6.15% (if Fed goes for +150 bps rate hikes in rest of 2022)
Published : August 2022
Well-diversified suite of hospitality offerings and healthy growth prospects should act as growth enablers once travel and tourism sector gets back on growth path. Focus on cash conservation and adequate liquidity measures should lend some support and help the company achieve growth. During tough times, the company expanded portfolio with 12 openings at an average of 1 hotel per month.
Published : August 2022
During tough operating environment, ICICI bank saw healthy growth in core operating profit and its capital and liquidity position was strong. Franchise has been strengthened supporting robust flow of deposits. Improvement in asset quality parameters was also seen with granular and stronger portfolio mix. ICICI bank will continue to build on its long-term strategic focus of growing core operating...
Published : August 2022
The Nykaa Story - India’s largest Omni channel beauty destination
Published : August 2022
RIL is among the few large companies in India with a positive earnings revision cycle ahead, given the strong refining and gas environment. RIL has a huge upside potential of 25% from its current market price.
Published : August 2022
ICICI Bank is a large private sector bank in India offering a diversified portfolio of financial products and services to retail, SME and corporate customers. The Bank has an extensive network of branches, ATMs and other touch-points.
Published : August 2022
HCL Technologies Limited is an primarily India-based technology company.
Published : August 2022
Tega Industries is a leading manufacturer and distributor of specialized, critical, and recurring consumable products for the global mineral beneficiation, mining, and bulk solids handling industry. Globally, Tega industries are the second largest producers of polymer-based mill liners, based on revenues for the year 2020.
Published : August 2022
TCS may scale 4000 levels by FY23 on higher revenue and better EBITDA margin in the coming days
Published : August 2022
Axis Bank look strong for an upside potential of 30% from its current market price.
Published : August 2022
PolicyBazaar has a good upside potential of 35% from its current price along with growing CAGR.
Published : August 2022
To enhance product reach, Parag Milk Foods Limited plans to strengthen distributor & stockists base to target higher retail penetration. Parag Milk Foods Limited plans to increase Ad spend on various channels like television, newsprint, digital media to strengthen its brands. Target of increasing value-added product portfolio should be achieved by focusing on health and nutritional aspect in dev...
Published : August 2022
Stable asset quality and reliable business strategy are expected to act as principal growth enablers. Gold loans saw a growth of 17% to reach INR18,469 crores in 1Q23, with retail advances growing 14% to reach INR49,872 crores year-over-year. Commercial banking advances saw 10.23% growth year-over-year to touch INR12,865.20 crores.
Published : August 2022
Keva holds the position of being the largest Indian origin player which is most adoptable to evolving consumer needs.
Published : July 2022
DELHIVERY LIMITED : A LEADING LOGISTICS AND SUPPLY CHAIN SERVICES COMPANY
Published : July 2022
Growth drivers in near term include network expansion, penetration in domestic market, exploring overseas market, launch of e-vehicles in potential domestic market and developing various application and upgradation of existing product portfolio. Strategic tie-ups involving leading banks and NBFCs should offer retail financing for vehicles. Automobile industry should seek support from factors lik...
Published : July 2022
Heritage Foods Limited has an extensive presence and is consistently expanding its distribution, enlarging its portfolio and making continuous investments in brand. Market position and management of working capital should act as principal growth enablers. Strong distribution network should continue to help in product supply. Heritage Foods Limited focuses on penetrating into newer geographies an...
Published : July 2022
A fully integrated and diversified player in the Indian Chemical sector A wide range of products and backward integration Capex's commitment of Rs.750 Crores spread over the next three years
Published : July 2022
Ashish Ghosh
RBI may hike +0.50% on 5th August
Published : July 2022
Polycab is a manufacturer of wires & cables as well as Fast Moving Electrical Goods (FMEG) which include products like fans, lights etc. The company sells its products under the brand name “Polycab”. It is the largest player in the domestic wires & cables industry and has also made its name in the FMEG industry by scaling the segment rapidly since it entered the industry in FY14.
Published : July 2022
Stylam Industries Ltd is a manufacturer of laminates, solid surface panels and other allied products. It is one of the largest exporters of laminates from India and is also trying to increase its presence in the domestic market which is dominated by Greenlam currently. Further, Stylam has also announced its foray into Plywood manufacturing and is investing 60 crores to set up the necessary infra...
Published : July 2022
Considering the integrated business model, superior financial performance, healthy balance sheet with improving re- turn ratios, the company has good long-term growth prospects. We foresee 25.7% revenue CAGR, EBITDA expansion of 23.2% CAGR, and 29.5% growth in earnings over FY21-24E.
Published : July 2022
TheAsianInvestor
Several asset classes are available in market place and rationality lies in achieving a balance between risks and opportunities. Investments have their own risks and opportunities and both should be evaluated before investing hard-earned money. There are different asset classes for different age categories. While assessment of risks remains an important task, idea behind investing should be that...
Published : July 2022
The improvement in return ratios over the past decade has settled the argument related to the nature of VBL’s business prevailing into pure manufacturing. EBITDA margins would remain stable (19-20%) but PAT margins have a huge scope to grow. Gains are expected on the back of rising out-of-home consumption after two years of sluggish performance. The stock has run up quite a lot, up 6 times sin...
Published : July 2022
Hindustan Foods Limited is an India-based company, which is engaged in contract manufacturing of various FMCG products including food, home care, personal care, beverages etc. They also do manufacturing of leather shoes and accessories.
Published : July 2022
HDFC asset management company plans to capitalise on existing reach and distribution network and focus is on enhancing it. Performance of HDFC asset management company should seek support from significant recovery in stock markets. Rising awareness about mutual funds should result higher participation of individual investors.
Published : July 2022
Tata Steel may face capacity constraints in FY23, but is on the way to adding another 10MT production capacity by FY30
Published : July 2022
Insecticides (India) Ltd. (IIL) is one of India’s leading manufacturers of Agrochemicals. It provides farmers with a range of products for their crop protection requirements. It also owns the prestigious “Tractor Brand” which has gained great popularity in the farming community. It has state-of-art manufacturing facilities located at Chopanki (Rajasthan), Samba & Udhampur (Jammu & Kashmir)...
Published : July 2022
Jubilant Ingrevia is attractively placed in terms of the cash profit of FY25E which gives an attractive reward potential at the CMP
Published : July 2022
Lumax Industries has been consistently evolving in its product innovation with its in-house design and development capabilities. Company enjoys about 50% market share in domestic automobile lighting business. It caters to a variety of customer needs through endto-end automotive lighting solutions for four-wheelers, two-wheelers applications, commercial vehicles, and tractors/Farm Equipment Segme...
Published : July 2022
CreditAccess Grameen Limited looks strong with growth in loan book at 23% along with stable operating expenses along with declining credit costs which should drive PAT growth of 66% over FY22-24E. Healthy growth in earnings should drive RoE to ~19% by FY24E.
Published : July 2022
In FY20, diversified business model supported Edelweiss Financial Services Limited as 3 out of 4 businesses saw minimal impact. This was despite ~8 quarters of market dislocation. Edelweiss Financial Services Limited has made a decision to divest stake in Edelweiss Gallagher Insurance Brokers Ltd. Market leadership and focus on gaining market share are expected to act as principal growth enable...
Published : July 2022
Hi Folks!! Here is the Fundamental report on Tasty Bite. I know, there is lot of things would be missing in this report but still you can have a look in that for some refreshment. Thanks ! Have a good day!
Published : July 2022
KEC International – a $1.8 Bn Engineering, Procurement, & Construction (EPC) major, is the flagship company of the RPG Group. It undertakes EPC projects across the country’s key infrastructure sectors such as Power Transmission & Distribution, Railways, Civil, Urban Infrastructure, Solar, Smart Infrastructure, Oil & Gas Pipelines, and Cables, among others.
Published : July 2022
Birlasoft, a small-cap IT company, has an upside potential of 35%. The company’s repeated demonstration of ‘walking the talk’ makes us believe that it is on track to achieve its stated target of USD1bn revenue by FY25E.
Published : July 2022
JSW Steel may be an example of a good business model under temporary disruption; strong domestic demand may help despite various global headwinds
Published : July 2022
Established in 1967, VTTL is one of the leading power tiller and compact tractor manufacturer in India. It was established by the VST Group of companies, a well-known century old business house in South India, as a JV with Mitsubishi Heavy Industries, Japan and Mysore State Industrial Investment Corporation. VTTL manufactures farm equipment, namely power tillers, tractors, power weeders, diesel ...
Published : July 2022
TCPL future ambitions remain aggressive, At 17% EPS CAGR over FY22-25e, TCPL should deliver industry-leading growth within indian FMCG.
Published : July 2022
During present times, Godrej Consumer Products Limited should benefit as it is FMCG company, with strong portfolio to deliver in COVID-19 world. Roughly 80% of its product portfolio includes health (household insecticides), hygiene, and value for money products. Godrej Consumer Products Limited launched sanitiser products across India and SAARC, Indonesia, Africa, Latin America, and USA business...
Published : June 2022
Significant fall in debt and favourable sectoral dynamics should lend some support to stock price of Va Tech Wabag Ltd. The company is having strong credit metrics and adequate liquidity profile, enabling it to deal with sectoral challenges. With focus on emerging markets, the company plans to fill a huge infrastructural gap.
Published : June 2022
Motherson Sumi Wiring India Limited (MSWIL) has good upside growth potential.
Published : June 2022
Newgen Software Technologies is a global software Company and is engaged in the business of software product development including designing and delivering end-to-end software solutions covering the entire spectrum of software services from workflow automation to Document management to imaging. Newgen has 530 active clients and is scaling up key clients fast, Despite Pandemic, revenue per top-20...
Published : June 2022
Jubilant Foodworks is the undisputed leader in the Indian QSR space. A slew of recent happenings like Mr. Pratik Pota's abrupt exit, decision to stop reporting SSSG, fortressing strategy have left the investors spooked and time will tell how the company emerges out from this.
Published : June 2022
Matrimony is a new age consumer tech company that no one seems to care about. Matrimony has charted a profitable journey in an industry where it is competing with VC backed money guzzling platforms. Its next bet is the Marriage Services segment.
Published : June 2022
Ashish Ghosh
RBI is now effectively treating the +6.00% upper tolerance band of CPI as a target against official +4.00%
Published : June 2022
Shree Renuka Sugars is a global agribusiness and bio-energy corporation. The Company is one of the largest sugar producers in the world, the leading manufacturer of sugar in India, and one of the largest sugar refineries in the world.
Published : June 2022
Return of product lifecycle to drive market share, Recent corrections in commodity prices, Fx provide good upside opportunities to the MSIL estimates.
Published : June 2022
Sakar Healthcare Ltd is engaged in manufacturing of pharmaceutical formulations in the form of liquid injectables, tablets/ capsules, oral liquid syrups, dry powder injectables and syrups. Presently, its domestic sales accounts for 31% of revenues and exports accounts for the rest of 69% of revenues. It is one of the fastest growing pharma company in India.
Published : June 2022
Are the newly listed digital marketplaces at close to bubble valuations? or will growth justify the price you pay? Zomato, Policybazaar, Paytm, Nykaa - how do you value these. all are down close to 43% on an average in 6 months. Is it an end or a beginning of a beautiful new journey. Unemployed? Salary cut - take it .
Published : June 2022
As the pandemic has turned into an endemic, it should help LIC profitability; also COVID scare will help new business
Published : June 2022
As business activities should improve and construction activities should resurge, demand conditions should see some improvement. Unforeseen circumstances due to COVID-19 pandemic should be taken care by the company’s sufficient liquidity resources. Global presence and distribution strength have supported in past and should continue to act as growth enablers.
Published : June 2022
Pidilite Industries Limited remains confident of medium to long-term prospects of home improvement sector, and it continues to focus on delivering profitable volume-led growth. Resurgence of construction activities should act as a principal growth enabler.
Published : June 2022
Shalom Martin
Nifty and Bank Nifty tumbles due to weak global cues lead by higher inflation data, higher crude oil prices and weakening currency.
Published : June 2022
Ashish Ghosh
Inflation may not come down meaningfully if Russian geopolitical tensions and economic sanctions linger
Published : June 2022
Strong capital and market position should continue to act as principal growth accelerators. Competitive strengths include strong brand equity and technological infrastructure. Blow of COVID-19 should be minimised due to adequate retained earnings and steps taken to reduce costs.
Published : June 2022
Diversified foods portfolio due to continued innovation and tight cost control initiatives should continue to act as principal growth accelerators. Agro Tech Foods Ltd has strong innovation pipeline across its 5 Foods categories. Plans are there to leverage innovation to deliver Foods growth. Sectoral dynamics and strong market position should provide needed support.
Published : June 2022
Ashish Ghosh
Nifty stumbled in line with Dow Future ahead of U.S. inflation data after the White House indicated elevated CPI
Published : June 2022
Ashish Ghosh
Indian economy and Nifty EPS may continue to grow at a reasonable pace despite various headwinds
Published : June 2022
E-commerce vertical and exports should continue to act as principal growth accelerators. India’s superior quality of textile should continue to provide edge to Indian companies and major portion of India’s export of textiles is done to US & UK. Significant availability of raw material and manpower provides advantage to Indian companies in global textile space.
Published : June 2022
Ashish Ghosh
The Indian market was also supported by upbeat PMI and in line with estimated GDP data
Published : June 2022
Previously RIL plunged on the subdued report card (Q4FY22) and no comments by the management about R-JIO and R-Retail listing
Published : May 2022
Upon a detailed equity research on the share of Dalmia Sugar and Industries conducted on 07/05/2022, I found that the share was underpriced and had a potential for growth owing to the huge demand of sugar in the domestic as well as the international market.
Published : May 2022
Asset light business model of BLS International Services Limited supports on focusing better returns and efficient capital utilization. The company is a cash accretive business, with projects entailing direct collections from its customers. Sound credit measures and global presence should act as principal growth accelerators.
Published : May 2022
Strong liquidity profile and revised allocation should act as principal growth enablers. Revival in economic and business activities and opening up of Indian economy should help Nahar Capital & Financial Services Limited’s revenues. The company does investment business with a long-term perspective that should help repress temporary challenges.
Published : May 2022
Mastek has gone through a transformational journey in recent years and has successfully upped its delivery capabilities. Focus now is on clocking in a topline of $1 billion in the 2nd half of this decade. The company has a focused strategy in place and now everything rests on management's execution capabilities.
Published : May 2022
Favourable industrial dynamics and strong order book should act as principal growth enablers of Elecon Engineering Company Ltd. Favourable outlook of power sector is likely to lend support. PLI scheme by Government should provide support to domestic manufacturing output and growth opportunities to engineering industry.
Published : May 2022
Ashish Ghosh
Depending upon the trajectory of the Russia-Ukraine peace agreement/lingering war and inflation, RBI may cumulatively hike to +6.50% or +7.15% by Feb’23 (against Fed’s +2.75% or +3.50% by Dec 22)
Published : May 2022
But the volatility may be an opportunity to buy a quality blue-chip private bank in adversity
Published : May 2022
Diversified product suite and large customer base should continue to act as principal growth enablers. Gaskets business should continue to be largest revenue contributor, with Forging business to remain second largest. In FY20, OEMs made 70% of the company’s revenue, while exports made 14%.
Published : May 2022
Ashish Ghosh
RBI goes for an unexpected, unscheduled rate hike just ahead of much anticipated Fed hike; RBI may now hike +0.75% in June and +0.50% in August to match Fed
Published : May 2022
Versatile product mix & innovative offerings are expected to provide Nitin Spinners Limited a competitive edge. Pent up demand and reduced channel inventory should lend support to sales growth in FY22. Export demand should be led by competitive domestic cotton prices and trade tensions between US and China. With recovery in demand, growth should come from volumes and realisations in FY22.
Published : May 2022
Sneha Shah
