Research Reports published by BONANZA

Name: Latest research reports of Varun Beverages Ltd. authored by Bonanza and published by - Trendlyne research reports.
Item: Varun Beverages Ltd.
Rating: 5
Author: Bonanza

Latest research reports published by Bonanza

Varun Beverages Ltd.

07 Aug 2023

522.35

-1.29%

Strong growth trajectory, led by softening in Raw material prices

Buy: Varun Beverages Ltd.

Bonanza

Varun Beverages maintains its growth trajectory and shows strong signs of sustained profitability. VBL delivered a robust performance with growth in Revenue by 13.3% and EBITDA by 23.2% YoY. The softening in key raw material prices further catalysed the Gross margin expansion by 196bps to 52.5% (primarily due to softening of PET chips prices) and EBITDA margins expansion by 210bps to 26.9% (driven by higher gross margins and operational efficiencies) in Q2CY23.

Varun Beverages Ltd. has an average target of 655.00 from 8 brokers.

Titan Company Ltd.

04 Aug 2023

3379.70

0.03%

Interim hit on margins, but long term prospects stand firm

Buy: Titan Company Ltd.

Recommendation Target

Bonanza

Titan witnessed a strong demand in terms of Jewellery in June after a slack month in May. In the Jewellery segment the Total Income saw a growth of 19% YoY with domestic operations growing at ~20% YoY.

Titan Company Ltd. has an average target of 3859.14 from 8 brokers.

Cholamandalam Investment & Finance Company Ltd.

04 Aug 2023

1492.20

0.52%

Growth momentum continues

Buy: Cholamandalam Investment &...

Recommendation Target

Bonanza

CIFC PAT grew by 28% YoY led by 26% YoY growth in operating profit. NII grew by 24% YoY despite NIM pressure during the quarter. Elevated credit cost drags the earnings however it is seasonal in nature.

Cholamandalam Investment & Finance Company Ltd. has gained 25.05% in the last 1 Year

Bank of India

01 Aug 2023, 12:00AM

115.15

-2.27%

On expected-line; one off income boosted net income

Buy: Bank of India

Bonanza

BOI reported core revenue on expected line however one-off income has helped bank to deliver strong growth in earnings. Loan book and deposits have grown strongly on sequential basis. We believe bank is moving in right direction by growing high yielding retail loans faster and on deposit side low yielding demand deposits have grown faster would help bank to deliver on NIM guidance.

Bank of India has an average target of 125.50 from 3 brokers.

DCB Bank Ltd.

01 Aug 2023, 12:00AM

135.16

-1.61%

Weak quarter with margin decline, NPA rising, ROA moderating

Neutral: DCB Bank Ltd.

Recommendation Target

Bonanza

DCBB reported a weak performance led by sequential decline in NII and PAT. Margins were declined sharply by 35 bps QoQ, Slippages was elevated for the quarter leading to higher credit cost during the quarter. However, bank continued its business momentum by registering strong loan growth of 19% YoY and deposit growth of 23% YoY.

IDBI Capital released a Buy report for DCB Bank Ltd. with a price target of 170.0 on 28 Apr, 2025.

Home First Finance Company India Ltd.

31 Jul 2023, 12:00AM

1229.30

-3.53%

Diligent execution with ambitious growth, outlook positive

Buy: Home First Finance Company...

Target

Bonanza

Home First Finance (HFFC) reported another set of steady numbers for the quarter, with strong AUM growth (33% YoY and 8% QoQ), and sequential rise in disbursements (35% YoY and 3% QoQ at ? 8,952mn). There has been a positive uptick in the spreads by 20bps QoQ at 5.7% as against 5.5% in the previous quarter.

Home First Finance Company India Ltd. has gained 21.21% in the last 1 Month

Birlasoft Ltd.

28 Jul 2023

390.20

-1.90%

Margin beat - positive; deal-wins remain weak

Buy: Birlasoft Ltd.

Bonanza

Birlasoft’s revenue grew 3.1% QoQ (2.7% in cc terms) to US$ 153.6mn. Adjusted for receipt of US$ 2mn for disengagement services pertaining to settlement with Invacare, revenue grew 1.7% QoQ (1.4% in cc terms). OPM stood at 15.3%, aided by better gross margin, lower SG&A expenses, better utilization, automation and lower attrition.

Birlasoft Ltd. has lost -39.98% in the last 1 Year

Jubilant Foodworks Ltd.

27 Jul 2023

715.40

1.00%

Visible efforts for providing value to customers, but sticky inflation causing slowdown in revival

Economy Update: Jubilant Foodworks Ltd.

Bonanza

Jubilant Foodworks reported a sales growth of 6.3% YoY at ? 13,345mn during Q1FY24 over ? 12,523mn on the back of continuous store addition. Although, the LFL came in weak at (1.3)% YoY leading to a declined EBITDA / PAT margins by 370bps / 680bps. The Dine-in channels reported flat revenue and green shoots in Delivery Channel with 8.4% growth.

Number of MF schemes increased from 27 to 33 in Mar 2025 qtr.

Tech Mahindra Ltd.

27 Jul 2023

1503.00

0.51%

Miss on all fronts; Execution remains key going ahead

Buy: Tech Mahindra Ltd.

Target

Bonanza

TechM’s revenue declined 4% QoQ (4.2% in cc terms) to US$ 1.6bn. EBIT margin declined by 440bps QoQ to 6.8% even after adjusting for one-offs. The sharp decline in CME (down 9.4% QoQ), owing to cut in discretionary spending / closure of network services projects. Deal wins remain weak - stood at US$ 359mn (down c.25% YoY on TTM basis).

Tech Mahindra Ltd. has an average target of 1809.70 from 10 brokers.

Cyient Ltd.

26 Jul 2023

1187.70

-0.86%

In-line quarter; strong margin performance; downgrade to HOLD

Hold: Cyient Ltd.

Target

Bonanza

Cyient reported an in-line quarter. Its Services segment (DET) declined 0.2% QoQ in cc terms (excluding Engineering Parts which was a part of Cyient DLM). Normalised EBIT margins in DET came at 16.1%, up 93bps QoQ helped by G&A optimization.

Cyient Ltd. is trading below all available SMAs