By Trendlyne AnalysisThisinfrastructure company surged 6% over two trading sessions following itsQ1FY27 results on August 11. Net profit jumped 46% YoY, driven by a favourable business mix that improved margins. However, revenue grew by only 4% as labour shortages due to state elections, supply disruptions in the Middle East, and weakness in the Brazil business and road projects weighed on growth.
KPIL closed the quarter with arecord Rs 66,607 crore order book, providing around 2.5 years of revenue visibility. High-margin segments –Transmission & Distribution (T&D) and Buildings & Factories – make up 73% of this backlog, boosting future profitability. On T&D, MD Manish Mohnotsaid, “We expect a ramp-up in transmission lines and substation capacity to meet rising electricity demand and support the renewable energy effort.” Management values the T&D domestic market at up to Rs 1.3 lakh crore annually over the next five years, which helps back their FY27 order inflow target of Rs 30,000 crore.
The company wants to win larger, more complex contracts, and has been ramping up its capability to compete in this space. This opens doors to high-moat sectors like data centres, airports, underground metros, and High-Voltage Direct Current (HVDC) projects. Around Rs 3,000 crore ofcapex over the past four years has focused on strengthening KPIL’s execution capacity. The companyplans an additional Rs 800 crore of capex in FY27, and is setting up a rolling mill in Raipur to process more steel inputs in-house.
International markets offer further growth. KPIL is bidding for up to $500 million oil and gas projects in the Middle East, and recently secured its first water-treatment order there worth Rs 344 crore. Conversely, it haspaused domestic water project bids to resolve over Rs 1,500 crore in outstanding payments. While regional conflicts and volatile commodity prices pose risks, management believes project reserves can absorb moderate cost increases.
Post results, Motilal Oswalkept its 'Buy' rating, citing KPIL’s sharp debt reduction and improving earnings outlook. Net debt more than halved YoY, allowing it to fund future projects without straining its finances. Analysts expect net profit to grow at a CAGR of 18% between FY27-29.
This commodity exchange surged 10% over the past week after SEBI proposed allowing foreign portfolio investors (FPIs) to trade physically settled non-agricultural commodity derivatives on domestic exchanges.
Currently, FPIs can only trade eligible, cash-settled non-agricultural contracts, so the proposal could open up bullion and base-metal contracts to a wider set of global investors. SEBI expects the move to improve liquidity and price discovery.
FPIs account for only around 2.5% of MCX's average daily turnover right now, with the exchange adding 35 FPIs in Q1 to take the total base to around 220. This leaves room for participation to increase if the proposal takes effect. Following the proposal, UBS upgraded the stock to 'Buy' with a target price of Rs 3,800, citing the recent correction, strong Q1 volumes and the potential for higher FPI participation.
The regulatory catalyst comes as MCX is already benefiting from a sharp rise in trading activity. Revenue from operations rose 88% YoY in Q1FY27, while net profit doubled. Option derivatives now account for 75% of fee income. Traded clients rose to 13.7 lakh as retail and institutional participation broadened. MCX retained more than 99% of the commodity futures market, with gold and silver making up about 77% of futures turnover.
MCX is also broadening its product base to bring more participants onto the platform. MD & CEO Praveena Rai said, “Indices are a primary focus across bullion, metals and commodities, with multiple launches planned over the coming months.” Silver 100 Gram Futures and 10-gram gold contracts are gaining traction, while electricity derivatives are seeing higher participation and open interest. The exchange has also incorporated the Coal Exchange of India and is working on new metal and commodity index contracts.
Data services offer another longer-term monetisation opportunity. More than 50 AMCs have adopted MCX bullion prices for ETF and NAV valuation, while the exchange is working to widen adoption and launch new data products. MCX continues to invest in technology to support higher volumes, with processing capacity now above three billion transactions a day. The key risk remains a normalisation in volatility, which can weigh on trading activity.
Thisjewellery company rose 3% on Monday after itsQ1FY27 net profit beatForecaster estimates by 34.5%. Addressing concerns over the impact of the government’s announcements in May, Arun Narayan, CEO of Titan’s Jewellery division,said customers who postponed their jewellery purchases in May largely came back in June. Prime Minister Modi had urged Indians to postpone gold purchases to conserve foreign exchange reserves.
Titan’s revenue grew 29.3% YoY to Rs 21,502 crore, led by jewellery, watches and eye care, while lower bullion and digital-gold sales partly offset that growth. Net profit jumped 62.9%, thanks to higher jewellery profits and a Rs 407 crore gain from higher realisations on existing inventory following the customs duty hike.
CFO Ashok Sonthalia cautioned against treating the gain as sustainable, saying, “We don’t want to take credit because at some point when these duties go down, we will have the opposite situation.”
Jewellery remained the main growth engine, with domestic sales rising 38%. Tanishq, Mia and Zoya recorded strong growth, with sales at existing stores rising 33%. While buyer growth was modest, the average spend per buyer rose 31% as higher gold prices lifted purchase values.
Demand for premium analogue watches also supported growth, with revenue from Watches and EyeCare growing about 21%. Women’s Bags delivered strong double-digit growth, supported by store expansion and rising e-commerce penetration.
While the management flagged softness in plain gold towards the end of July, buyer growth in studded jewellery has been picking up. The company expects its jewellery margin to stay around 11%. MD and CEO Ajoy Chawla said, “If gold prices remain subdued, a better product mix and higher-value jewellery could support margins.”
Motilal Oswalreiterated its ‘Buy’ rating on the stock with a higher target price of Rs 6,000. The brokerage sees sales growing at a CAGR of 18% through FY28. It expects Titan to benefit from the shift towards organised jewellery buying, with its exchange programme offering another way to attract customers and gain market share.
The stock of this agrochemicals company fell 10.9% over the past week after it reported weak June-quarter results. Q1FY27 revenue fell 11.1% YoY to Rs 1,766.4 crore due to weak demand across both agrochemical and pharma divisions. Profits took an even deeper hit, plunging 38.9% to Rs 244.2 crore as inventory and other expenses climbed. Ultimately, net profit missed Trendlyne's Forecaster estimates by 19.5%, driven down by shrinking export volumes. The stock features in a screener of companies with declining cash flow from operations over the last two years.
Management attributed the decline in export volumes to an ongoing global agrochemical slump, weak crop prices, and delayed delivery schedules from clients. Even though monsoon rains picked up sharply in July, moving from a 36.4% deficit at the end of June to a 1% surplus by July-end, domestic agrochemical sales still lagged behind last year's figures. Industry experts suggest this slowdown happened because farmers had already stocked up early or reduced planted acreage for certain crops at the start of the season.
Despite weak global crop-protection demand, the company’s domestic agribusiness delivered 12% volume growth and 3% revenue growth. It continued to invest through the weak phase, strengthening its complex-chemistry and innovation capabilities. PI Industries launched a first-of-its-kind biological nematicide (pest-control product) in Brazil, Mexico and the US. Management reported positive feedback from Brazil and estimates the country’s total addressable market at around $750 million. It expects low-single-digit revenue growth and an EBITDA margin of around 24% in FY27.
Deven Choksey retained its ‘Accumulate’ rating on the stock with a target price of Rs 2,833. The brokerage expects PI Industries to remain in a transition phase through FY27, with the pace of recovery in global agrochemical and custom synthesis and manufacturing (CSM) demand key to earnings momentum. It adds that the FY27 capex guidance of Rs 700-800 crore gives the company sufficient flexibility to continue investing through the downturn.
This two-wheeler firm’s stock surged 6.4% over four sessions after reporting Q1FY27 results on August 7. Revenue jumped 35.4% YoY and beat Forecaster estimates, led by demand across scooters, motorcycles, and exports. Net profit also beat estimates despite falling 17.2%. A richer product mix, price hikes, and lower promotional spending helped offset higher raw material and employee costs.
Lower GST rates boosted two-wheeler demand, especially across rural markets. This tax cut benefited price-sensitive entry-level commuter motorcycles, a segment where Hero dominates the industry. The EV business also gained traction, pushing market share to around 11%. Exports grew 63% as the company doubled its global footprint over the past two years.
Management expects the two-wheeler industry to deliver double-digit growth in FY27, creating room for volume gains. Hero is also adding capacity to meet the expected increase in demand. The company is planning a Rs 1,500 crore capex as it aims to double monthly ICE scooter capacity to 1.3 lakh units by the end of this fiscal year. They are also increasing EV capacity by 50% to 45,000 units.
CFO Vivek Anand maintained his margin guidance, despite EBITDA margin falling 110 bps to 13.3%. “We are optimistic of achieving our medium-term EBITDA margin guidance of 14-16%,” he said, adding that this will be achieved through ongoing cost-cutting initiatives. However, he warned that reaching this target will be challenging in the near-term due to persistent inflation.
Following the results, Motilal Oswal retained a ‘Buy’ rating with a higher target price of Rs 6,560, implying a 13.3% upside. The brokerage believes growing scooter market share, strong overall sales, and a diverse export footprint will drive revenue visibility. Analysts expect the firm to deliver annual revenue and net profit growth of 9-10% through FY28.
Trendlyne's analysts identify stocks that are seeing interesting price movements, analyst calls, or new developments. These are not buy recommendations.
