Indian power T&D; industry stands to benefit from India's humongous power transmission infrastructure laying plan (Rs 2.6 tn) in the 13th Plan to strengthen its inter-regional grid capacity (Rs 1 tn), intra-regional grid capacity (Rs 1.3 tn) and sub 220 kV distribution systems (Rs 300bn). Shift towards renewable energy - 175GW capacity planned by 2022- would doubtlessly shorten the order execution cycle of EPC players due to relatively shorter erection time for renewable energy generation & transmission infrastructure. New technologies such as higher voltage...
Weak consumer demand- accentuated by GST roll outout let to subdued volume growth for Bajaj Corp in Q1FY18. FY18. In Q1FY18 operating profit was down by 14.5% to Rs 60.64 crores ($9.4m),, primarily due to combined effect...
Higher utilization rate of the steel sector on account of ~38% de growth in finished steel imports and rising exports (up by 102%) according to Joint Plant Committee in the last fiscal amplified the demand for...
Global Water Resources has estimated that two out of every three people will live in water-stressed areas by the year 2025. Also, it is estimated that 25 countries will be experiencing water stress (below 1,700 m3 per capita per year) by 2025. In today's times, 450 million people in 29 countries suffer from water shortage, which puts a huge pressure especially on the growing economies to use water sustainability and also resolve their growing imbalance of supply and demand (Source: FICCI). Government of India, State Governments and local bodies are making...
Affected by destocking by distributors of plastic piping, furniture and cross laminated films ahead of GST implementation, Supreme's post tax earnings slid 26.3% to Rs 75.29 crs ($11.7m) in Q1 compared to Rs 102.15 crs ($15.3m) in the same quarter a year ago. Intensity of demand deferment manifested itself in overall sales volumes, which tumbled 5% to 92916 mt, the lowest June quarter reading since 2014. Both plastic piping system and consumer products bore the brunt of 'one tax' regime for their volumes shriveled by 7% and 8% respectively. Yet largely...
demand in affordable housing due to rapidly rising urban population, India's low mortgage penetration, favorable funding scenario coupled with government's initiative for Housing For All by 2022' are doubtlessly tantalizing. Yet, itss deteriorating asset qualityquality GNPA of 2.3% from 1.8% in FY16 and Net NPA of 0.3% from nil in FY16 cannot be sorely undermined either.. Nevertheless, impressive growth in the loan book (CAGR: 18.1%) should help its earnings...
Yet its flagship domestic power generation business faltered (~8%) not least due to India's declining power deficit and subdued demand from manufacturing sector. Despite overall economic stress in H2 induced by demonetization, Cummins did manage to make noticeable headways in data centers, IT&ITES; and commercial realty for most last fiscal. Robustness in domestic demand did little to prevent operating margins to fall to the lowest level in seven years for the margins have now descended in three of the last four quarters with Q4's 14.4% - induced by adverse...
Aegis Logistics has entered into a Share Subscription Agreement with its wholly owned subsidiary, Hindustan Aegis LPG Company Ltd. (HALPG) and Itochu Petroleum Co. (Singapore) Pte Ltd., a subsidiary of ITOCHU Corporation of Japan for expansion of LPG business in India; for a total amount of Rs 250 crs ($38.6m), representing 19.7% stake in HALPG which...
Profits yo-yoed for much of the last fiscal for the loss in productivity (sales tumbled 39.5%) in the second quarter due to shutdown of plants in both Vietnam and India was followed by a rapid recovery in the third quarter both income from operations and post tax earnings surged by 34.6% and 76.4% respectively. Increased demand for agglomerated products in Vietnam led to setbacks in volume growth in Q4, prompting setting up 3000 mt of agglomeration capacity, which would be production ready by Q2. Most discussed domestic market penetration too gathered steam for sales nearly doubled last fiscal. Volume loss in Vietnam in Q4 percolated to lower...
.3x FY18e EPS of Rs 19.71 and 16.2x FY19e EPS of Rs 22.20. Artificial leather is majorly replacing pure leather in the fields of automobile, footwear, and furnishing, furnishing due to lower cost. Per capita footwear consumption in India is expected to increase up to four pairs (~1.5 now) , while domestic footwear consumption is expected to...
