Arihant Capital Broker Research reports

Several investments are lined up for the remaining quarter. Total revenue per employee increased by 3.5%. Management has finalized a interim dividend of Rs 7/share....

We recently interacted with the management of NTPC to understand the way forward for the company. NTPC's present installed capacity stood at 53.7GW at the end of Q1FY19 and the company aims to increase its installed capacity to 130GW by 2032. At present NTPC has 21GW of projects under construction of which it plans to capitalize 4-5GW each year between FY19 to FY22E. NTPC's capitalisation exceeded its capex for the first time in FY18 and we expect this strong capitalisation trend to continue over next 5 years, which in turn will boost its ROE from 9.8% in FY18 to 12% in FY20E. We remain bullish on NTPC from a longer term...

Company outperformed the industry recording a growth of 19% over Q2 FY18 as against industry growth of 8%. Overall share in the domestic motorcycle market increased to 18.6% as against 16.9% in Q2 FY18. For September 2018, overall share in domestic motorcycle market was...

Suven Life Sciences (SLS) is a compelling play on the recovery being witnessed in global R&D; spending, as reflected in strong fund raising by biotech start-ups as well as a fast-growing research pipeline across multiple stages of clinical trials. SLS has witnessed strong growth in revenue of 22.6% CAGR, whereas operating profit has shown growth of 42.4% CAGR over FY11 to FY18. With improved operating efficiency, we expect the EBITDA margin to expand at a higher rate than the gross margin due to lower than average R&D;...

Shakti Pumps specialises in manufacturing a broad range of energy efficient stainless steel pumps (with special focus on solar pumps) catering to a variety of sectors including agricultural, industrial, domestic and horticultural. Given government's thrust on solar pumps, Shakti having more than 50% market share in solar pumps, will be a key beneficiary of the increased demand for solar pumps. We expect Shakti to report 22.3% CAGR in its revenues over FY18-20E, while PAT will witness a CAGR of 32.5% over the same period. EBITDA margin is expected to stabilise around 17-18% level. We remain positive on Shakti's future...

ACC Ltd. reported a strong set of numbers in its first quarter of CY2018. Net profit for the quarter came in at Rs. 250cr as compared to Rs. 211 cr in the corresponding quarter of previous year registering a growth of 19% YoY. Total income for the quarter came in at Rs. 3,625 cr as compared to Rs. 3,174 cr in the corresponding quarter of CY 17, up 14% YoY and increased 4% sequentially. EBITDA for the company stood at Rs. 492 cr vs. Rs. 417 cr YoY. EBITDA margin stayed almost the same at 13.6% vs 13.4% in the previous corresponding quarter. Cement Business volume came at 7.11 MT higher by 7.7% compared to the...

Deposits for the bank grew at 24% YoY and 13% sequentially. The CASA portion for the bank stood at Rs 5,840 cr rising by 25% YoY & 7% sequentially. CASA ratio stood at 24.33% vs. 24.31% YoY. Retail term deposits stood at 50.18%. Cost of funds...

With Pharma industry facing a lot of head winds and price erosion hitting the margins of many US focused pharma companies, Aurobindo Pharma (APL) is able to maintain its EBITDA margins in the range of 22-25% from FY15-FY17....

The bank's top-line performance was up as net interest income increased by 20% to Rs 950 crs compared to Rs 791 crs YoY & Rs 899 crs QoQ. Other income de-grew by 17% to Rs 229 crs YoY. C/I ratio for the bank dropped to 52.37% vs. 55.48% YoY and increased sequentially from 50.83%. NIM's stood steady at 3.33% vs. 3.32% in...

Advances recorded a steady growth of 25% YoY , while deposits grew by 23% YoY. Consumer finance growth stood at 24% YoY & 6% QoQ and corporate loan book grew at 26% YoY & 6% QoQ. On the deposits front, the CASA grew above industry at 42% YoY and stood at Rs 62,616 cr. In the current quarter bank added 70 branches...