Anand Rathi Broker Research reports

While its cash collection grew 16% y/y to Rs4.8bn, IndiaMart’s Q4 FY24
17.1% y/y revenue growth came in line with our estimate.

A diverse product company and a well-known brand, Havells is aptly
placed to capitalise on the strong summer demand trend, with Lloyd
margins turning positive and ECD margins inching up.

Ended FY24 on a strong note. FY24 was a turnaround year. The balance
sheet grew healthily, with overall AUM registering >40% growth combined
with a consistent decline in the incremental cost of borrowing.

With its shift to a retail franchisee ahead of its Lakshya 2026 target, L&T
Finance’s Q4 consolidated (adjusted) net profit jumped ~32% y/y to Rs5.5bn, with the share of retail surging 300bps q/q to 94%.

Stable margins, strong fees income and modest provisions led to IndusInd’s strong Q4 profitability

Margin expansion and strong fee income counter-balanced opex, which
led to ~10% sequential growth in DCB Bank’s Q4 operating profit.

Jindal Drilling & Industries Limited (JDIL) is part of the D P Jindal Group. JDIL has more than three decades of experience in offshore drilling and allied services
including directional drilling and mud logging. JDIL owns rigs or takes rigs on lease from group companies or third parties and provides drilling services to
upstream companies in Mumbai Offshore (Bombay High) region

The largest pure-play coal producer globally, Coal India offers healthy
volume assurance, catering to mounting coal demand from the power
sector. Its focus on increasing FSA and e-auction volumes would be
catalysts for a strong performance.