Research Reports published by BP WEALTH

I G Petrochemicals Ltd.    
12 Nov 2020
444.85
2.23%
BP Wealth
IG Petrochemicals Ltd (IGPL) reported strong margin performance on the back of favourable PAN/OX spread during the quarter. Revenue de-grew by 9.1% YoY to INR 2424mn (est INR 2621mn) mainly impacted by lower realization due to soft crude oil prices. However, demand is fully recovered in Paints and Plasticizers to pre-COVID levels. EBITDA surged by 191.5% YoY to INR 418mn (est INR 235mn) with 1186bps YoY expansion in margin from 5.4% in Q2FY20 to 17.2% in Q2FY21 (est. 9%). This was mainly due to 1134bps expansion in gross margin (33.4% vs 22.4% in Q2FY20) on account of improvement in PAN/OX spread. Currently, PAN/OX average (avg) spread is around $200 (vs avg $150 in Q1FY21) compared to 10-year avg of $200 vs $100 in FY20. We believe spreads can continue to remain favourable in the near term on the back of healthy demand in the Paint and Plasticizer...
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BP Wealth downgraded I G Petrochemicals Ltd. to Sell with a price target of 405.0 on 12 Nov, 2020.
Sequent Scientific Ltd.    
09 Nov 2020
155.65
1.57%
BP Wealth
driven by positive operating leverage. During the quarter the company incurred one-time expenses of BSE code INR 90mn (onetime bonus and ESOPs of INR 52.1mn and INR 38.3mn related to discontinuation of Alivira France operations) under Exceptional item. SSL reported a PAT of INR 213mn compared to our estimate of INR 250mn. Adjusting onetime expenses, the Normalised PAT came in at INR297mn...
Sequent Scientific L.. has an average target of 186.00 from 2 brokers.
Hikal Ltd.    
06 Nov 2020
171.90
0.64%
BP Wealth
INR3,368mn mainly driven by strong growth in the Pharmaceutical segment. On segmental performance: The crop protection segment de grew by 17.9% (YoY) to INR 926mn and 12.7% (YoY) due to deferment of orders worth INR400mn which is expected to be supplied largely in Q3FY21. Pharmaceutical segment revenue surged by 34.1% to INR 2,793mn led by strong volume off-take supported by new capacity at Bangalore unit which was commissioned late last year. Despite 554bps contraction in gross margin, EBITDA margin managed to improve by 58bps to18.8%, was 29bps above our estimate. EBITDA margin was supported by 11% (YoY) decline in employee cost and flat other expenses in the growing topline. EBIT margin of the Crop protection segment declined by 1044bps...
Hikal Ltd. has gained 52.06% in the last 1 Year
Neuland Laboratories Ltd.    
04 Nov 2020
1031.30
3.24%
BP Wealth
Neuland lab (NLL) has posted revenue of INR2,414mn with a 29.6% YoY increase, which was 12% below our estimate of INR 2,160mn. The revenue growth was mainly driven by strong traction in the CMS (54.6% YoY growth) segment, led by 33 molecules (Development + Commercialize) along with...
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Institutional Investors have decreased holdings from 29.61000% to 20.23000% in Sep 2020 qtr
GMM Pfaudler Ltd.    
22 Oct 2020
3814.55
3.35%
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GMM Pfaudler Ltd. has an average target of 3437.00 from 3 brokers.
Granules India Ltd.    
21 Oct 2020
412.55
-0.08%
Granules India Ltd. has gained 33.21% in the last 3 Months
Aarti Industries Ltd.    
16 Oct 2020
1155.30
4.17%
Aarti Industries Ltd. has an average target of 1177.13 from 15 brokers.
Lupin Ltd.    
15 Oct 2020
891.80
-0.86%
Lupin Ltd. is trading above it's 200 day SMA of 868.1
Automobiles & Auto Components    
SECTOR | 15 Oct 2020
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Nirmal Bang Institutional released a Sector Update report for Automobiles & Auto Components on 23 Nov, 2020.
Automobiles & Auto Components    
SECTOR | 06 Oct 2020
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Nirmal Bang Institutional released a Sector Update report for Automobiles & Auto Components on 23 Nov, 2020.