12 Nov 2024
Jupiter Life Line
Anand Rathi
1423.90
1740.00
1542.20
(-7.67%)
Target met
Buy
Broker Report
In line with our estimates and consensus, Jupiter Lifeline Hospital reported healthy Q2 figures, with revenue/EBITDA/PAT up23%/23%/53% y/y.
12 Nov 2024
Hindalco Industries
Anand Rathi
651.15
800.00
651.65
(-0.08%)
22.86
Buy
Broker Report
Hindalco Industries’ strategic expansion in Bay Minette is on track and the recently commissioned 250k tonne Guthrie facility is ramping up, with production having commenced in Q2.
12 Nov 2024
Shree Cements
Anand Rathi
30210.00
28600.00
24372.80
(23.95%)
Target met
Buy
Broker Report
Shree Cements’ Q2 was muted due to the weak demand-pricing environment, owing to prolonged monsoons and low infrastructure spends by the government.
10 Nov 2024
Emami
Anand Rathi
635.00
900.00
669.85
(-5.20%)
41.73
Buy
Broker Report
With Rs8.9bn revenue (vs. the Street’s Rs9.1bn estimate) and EBITDA atRs2.5bn (Rs2.5bn), Emami’s Q2 was broadly in line with estimates.
10 Nov 2024
MRF
Anand Rathi
139970.00
160000.00
119354.30
(17.27%)
14.31
Buy
Broker Report
Broadly in line with our Rs9.7bn estimate, MRF’s Q2 EBITDA fell 14% y/y to Rs9.7bn.
10 Nov 2024
Greenlam Industries
Anand Rathi
223.00
801.00
555.85
(-59.88%)
Pre-Bonus/ Split
Buy
Broker Report
Greenlam’s Q2 revenue climbed 12.8% y/y to Rs6.8bn. The 52% gross margin was broadly the same. EBITDA rose 7.7% y/y to Rs 814m, while PAT was significantly down 11.6% y/y to Rs 345m.
07 Nov 2024
Greenply Industries
Anand Rathi
Reco
Target
281.40
375.00
361.15
(-22.08%)
33.26
Hold
Broker Report
Greenply’s revenue/gross profit/EBITDA grew 12.8/12.3/19.2% y/y to Rs6.4bn/2.5bn/576m, though adj. PAT was 6.1% lower y/y at Rs176m.
07 Nov 2024
Page Industries
Anand Rathi
47025.00
48947.00
45064.10
(4.35%)
Target met
Hold
Broker Report
Page’s Q2 figures exceeded our estimates and consensus. The q/q better demand was aided by festivals at quarter-end, and a gradual rural recovery.
07 Nov 2024
Amara Raja Energy
Anand Rathi
Reco
Target
1000.45
1490.00
1311.25
(-23.70%)
48.93
Hold
Broker Report
Belieing our Rs5bn estimate, Amara Raja’s Q2 standalone EBITDA grew 14% y/y to Rs4.4bn due to the lower-than-expected gross margin.
06 Nov 2024
Oil
Anand Rathi
415.90
644.00
525.10
(-20.80%)
54.84
Buy
Broker Report
Less downstream demand due to a maintenance shutdown kept Oil India’s Q2 operational results muted. Ahead, we expect strong volume growth in the oil & gas segment.