Anand Rathi Broker Research reports

Its FY24 annual report highlighted Arvind Fashions’ steps for growth with premiumisation being a core theme across brands. It is focusing on launching high-quality seasonal collections.

Led by a ~13% y/y rise in inventory (Aurika MIAL property operational from Q3 FY24) and ~9% y/y ARR growth, Lemon Tree Hotel’s Q1 revenue grew 19.5%.

Go Fashion’s Q1 revenue came in line with our estimates but the EBITDA margin was ~80bps lower than ARe at 32.8%, on the 0.2% y/y SSSG as sluggish demand was further hurt by the elections and searing heat.

With revenue up 1.3% (vs. the Street’s 1.2% estimate) and volumes rising 4% (3%), HUL’s Q1 was broadly in line with estimates. Rural demand uptick, innovations and premiumisation aided Q1.

Steady AUM growth, led by premiumization. Barring tractors, disbursements were healthy, which drove AUM up 23% y/y, 4% q/q.

Q1 PAT rocketed 42% y/y. Consolidated revenue ratcheted up 20% y/y to Rs58bn, driven by huge offtake in cooling products. Cable and wire revenue grew a mere 2% y/y as wire revenue was affected by the elections.

Revenue grew 21% y/y; margins hurt. Powered by 10% volume growth, Q1 revenue rose 21% y/y to Rs46.9bn. Cable and wire revenue rose 12% y/y to Rs39.4bn and FMEG revenue.

A strong operating performance along with modest credit costs kept Karur Vysya Bank’s profitability strong, with 1.7% RoA (down 6bps q/q).

With its shift to a retail franchise ahead of its Lakshya 2026 target, L&T Finance’s Q1 consolidated net profit surged ~29.2% y/y to Rs6.85bn.

With its shift to a retail franchise ahead of its Lakshya 2026 target, L&T Finance’s Q1 consolidated net profit surged ~29.2% y/y to Rs6.85bn.