CD Equisearch Broker Research reports

000 members in Q3 with an aim to leverage on the low capex model (Rs 1.75-2.25 crs vs Rs 3.7 crs for Talwalkars original format) and thereby enhance return on capital. Talwalkars has signed a MoU to acquire 50.01...

L continues to be on the core retail business with a major thrust on affordable housing.. The company has launched a number of initiatives to strengthen its core mortgage business that are extremely competitive in the affordable segment. Going forward, the new Pradhan Mantri Awas Yojana (PMAY) scheme for urban development launched by...

Revenue surged by 19.4% in the last quarter mainly because of higher volumes but profit flat lined because of higher tax provision. PAT after associate profit plunged by 41.4% on a y--o-y basis owing to decline in profitability of SL Lumax of Rs 3.57 crs ($0.5m) due to price reduction...

Net sales were hit negatively by 2.2% & 2.8% in Q1CY17 as compared to previous quarter and same quarter of the last year respectively. HPPL reported a volume de-growth of 6% & 2% in Q1CY17 as compared to Q4CY16 & Q1CY16 respectively. Again, for the same period other income increased by 16% & 41% respectively. In Q1CY17 raw material to sales ratio moved up by 300bps to 67.3% last quarter (y-o-y) but declined 60bps (q-o-q) as the company managed to pass on some increase in cost last quarter. Thanks to recent surge in...

Swayed by over 29% growth in LSC revenues, Atul's income from operations surged by 14.9% in Q4, while OPMs plunged 400 bps to 14.1% due to margin stress in both LSC and POC businesses - EBIT margins (on gross sales) of the former dreadfully slumped to 12.9% from 20.9% in the same quarter a year ago; that of latter by 140 bps to 12.1% ( q-o-q fall of 230 bps). If it were not for the lower interest expense (-55.8%) and higher other income (more than...

After dropping to multi-quarter low in Q3 largely due to demonetization of high value Indian currency, LGB's sales growth recovered sharply in Q4 (+12.6% ) - at least a twelve quarter high . Revenues of both the transmission and metal forming businesses leapt in excess of 14%, coming at a time when transmission business fodder two-wheeler sales in the country slid 2.3% y-o-y; motorcycle sales dropped 4.2%.. Transmission business EBIT margins expanded too: 9.4% Vs 8.1% in the same quarter a year ago. Sturdy revenue booking of the metal forming...

Income from operations amounted to Rs 235.36 crs ($34.9m) in Q3, a degrowth of ~9% 9% over the previous year (Rs 258.59 crs/$39.2m) due to demonetization, which impacted the dispatches of two wheeler industry, thereby reducing order flows from Fiem's major OEM customers, mainly from Honda Motors and Scooters (HMSI).. As a result, PAT of Q3 sharply declined by 42.2% (Rs.9.06 crs/$1.3m vs Rs15.67 crs/$2.4m in the same quarter last year); PAT declined by 8.3% in 9MFY17....

Income from operations (net of excise) witnessed a increase of 17.9% y-o-y to Rs 588.09 crore ($87.2m) largely on account of 53.7% & 8.7% y-o-y increase in revenue of Europe and Americas regions respectively. However, revenues from AMESA & EAP region grew by just 3.7% & 1.8% on y-o-y basis. EDG Germany became a fully owned subsidiary (associate earlier) of the company with effect from 30th September, 2016. After gaining market share of 34% in oral care segment, Essel has started focusing on huge untapped opportunity in non-oral care segment which is relatively more profitable; however its...

Swaying fortunes of Indian CV industry, most prominently M&HCV; sector, have decidedly bewildered manufacturers and investors alike for a couple of years of sturdy growth of M&HCV; industry - ~30% in FY16 and 16% in FY15- was followed by near naught growth last fiscal. After robustly growing (+14.5%) in Q1, M&HCV; industry went wayward in following...

Q2 saw a net loss of Rs 1.83 crs ($0.3m) and 47% (y-o-y) fall in operating profit due to intense competition tion from similar players opening up new stores in the same vicinity, increased promotional spend, discounts, rise in man power cost, heavy rainfall and other cost increments. The same store sales in Q3 grew by 17%...