Anand Rathi Broker Research reports

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.

In FY25, we expect verticals across EFGH (E-Commerce, FinTech, Gaming, Healthcare & hospitality) apart from RMG (Real money gaming) to start showing robust growth and expect strong 25% y/y growth in revenue.

Rossari Biotech is a leading specialty chemicals manufacturing company, focusing on four core chemistries of enzymes, silicones, acrylics and surfactants. It caters to industries such as home and personal care, and performance chemicals (HPPC), textile specialty chemicals (TSC) and animal health and nutrition (AHN) products