Anand Rathi Broker Research reports

Higher Treasury income and moderate opex offset SIB’s Q1 lower margins (down 18bps q/q), keeping overall operating performance stable.

Strong execution in all segments led to Polycab’s robust Q1 FY26. Resilient domestic demand and greater export momentum led to wires & cables strong, 25%, volume growth.

Fine Organics Americas, a 100% subsidiary of Fine Organic (FINEORG), has acquired ~160 acres of land in South Carolina (USA) to set up a full-scale manufacturing facility.

Marks meaningful step forward in realization group strategic vision. Simplification of group structure and realign corporate structure to unlock synergy and enhance competitive edge.

We recently engaged with the Unimech management for insights into the present business environment and outlook. The company expects 35%+ growth in its aero-tooling segment over the next few years, driven by SKU approvals and client additions.

Incorporated in 1985, Bansal Wire is the second largest manufacturer of steel wire in India and the largest stainless steel wire manufacturer.

Lower our Rs819m estimate due to less-than-expected revenues, MM Forgings’ Q4 EBITDA slipped 4% y/y to Rs724m. Growth would be supported by the domestic M&H CV volume upswing, which would come at a 5% CAGR over FY25-27 on economic activity and replacement demand.

Sumitomo Chemical (Sumitomo) reported subdued 4Q numbers below our and consensus estimates with flat revenue growth while EBITDA and PAT declined by 15% and 9% y/y respectively.

More volumes pushed up Stylam’s Q4 FY25 revenue 10.6% y/y to ~Rs2.7bn, though blended realisation were soft. High input costs and product-mix changes pulled gross profit down 7.1% y/y to Rs1.1bn.

The company reported revenue of ?4,925 Million for the quarter ended March 2025, marking an 16.1% year-on-year increase from ?4,241 Million in the same quarter last year, and a growth of 25.5% rise on a sequential basis.