New Research Reports

Retail Research

End of Day Summary

MOIL targets 2.5mt production by FY26 and 3.5mt by FY30 from 1.8mt in FY25, driven by ramp-ups at Gumgaon and Balaghat mines. Sales are projected at 1.9mt in FY26 and 2.4mt in FY27, with upside potential from operational improvements. Domestic manganese demand rose sharply in FY25, driven by steel and alloy production, indicating a strong demand outlook. The company laid down a capex roadmap at Rs3.4bn for FY26, with a total of Rs24bn earmarked till FY30, to be spent in a phased manner. The...

In Q4FY25, SBI Life reported a decline in both net premium and total income. Despite this, the company remains strategically focused on long-term growth through strengthening its agency and bancassurance channels, improving the product mix with increased emphasis on non-ULIP and protection products, advancing digital capabilities, and expanding its presence in underserved regions....

*over or under performance to benchmark index TIIs revenue stream with growth in the core sector, and industrial segments like railways & power continue to support long-term revenue visibility. The company is exploring significant diversification beyond the automotive sector due to cyclicality in the industry, especially considering the weak performance in the Passenger Vehicle (PV) and Heavy Commercial Vehicle (HCV) segments. Further, recovery in EV expansion builds stability for the long term....

overall EBITDA/kg to inch upwards to Rs40/kg by FY26. realization and stable volume growth (7.3%). MTEP expects double-digit by superior EBITDA/kg of Rs100/ Rs70 for Pharma/Food business. MTEP has given positive outlook in the near term led by 1) Growing traction in...

Indonesia reports 2% SSG, geopolitical impact eases off significantly by focus on value proposition and healthy growth in store traffic with ADS of 108k and Adj loss at Rs254mn vs est of Rs270. Indonesia business reported 9.7% decline in sales (BK-Indonesia SSG came at 2%), however green shoots in demand recovery are visible with stabilizing geopolitical scenario and closure of non-performing stores. RBA's India strategy is centered around 1) Value...

Management guided for 20%+ revenue growth with PBT margins of 5.25%5.5% on a standalone basis along with order intake of Rs260-280bn in FY26. We revise our FY26/FY27E EPS estimate by 1.8%/-3.6%, due to delayed collection in the Water business impacting the revenue. Kalpataru Projects International (KPIL) reported a 20.5% YoY increase in standalone revenue, with EBITDA margin improving by 66 bps to 8.4%. Growth was driven by strong execution across a robust order book, though delays in payment collections...

ER&D spending set for major growth .......................................................................................... 9 ER&D services expand beyond mechanical function..................................................... 10 Manufacturing segment drives spending in outsourcing ............................................ 12 Digital mix cannibalizing legacy ER&D spend .................................................................... 14 Growing intensity of ER&D outsourcing .............................................................................. 15 Indian ESPs to grow faster than GCCs................................................................................. 16 India emerging as a global ER&D service provider .......................................................... 17 Segment-wise India opportunity ....................................................................................... 18...