unsettling new policy that instantly shook up the lives of 1.25 billion people, rich and poor alike. On November 8th, India's Prime Minister Narendra Modi announced that on the stroke of midnight all 500 and 1,000 rupee notes 86% of the currency in circulation would cease to bec become legal tender. As the clock ticked down to midnight, a huge portion of Indian society at once found themselves deprived of the ability to transact seamlessly. At that point, upwards of 95% of all transactions in India was conducted in cash and 90% of ve vendors did nott have the means to accept anything but cash....
Needless to get wonderstruck by sturdy rise in sale of plastic product volumes (+16.7%) last quarter for it merely portrays the shift in demand (from Q1 to Q2) due to change in accounting year last fiscal - total volumes in H1 grew by a sobering 8.3%. Most businesses - bar industrial products clung to existing trends as the flag-bearer plastic piping systems business reported 11% volume growth in H1, while the consumer products published a 14% rise. Deciphering course in industrial products business +4.5% volume growth in H1 as against -7.6% (adjusted) last fiscal would be barely bereft of risk for the buoyancy in its material handling business - 12% volume growth in H1 - fails to fully uncover the existing stress in its...
Subdued M&HCV; sales had a bearing on the AUM growth in Q2FY17 from that of the first quarter (growth of mere 0.7%). After looking to push the new vehicle financing at the onset of this fiscal, STFC has restored its spotlight on its core business (used vehicle financing) whose share increased from 89.2% in Q1 to 89.9% in Q2. This restricted further drop in...
Falling raw material prices during the first half favored the margins - OPM stood at 29.9% vs 28.8% same period last year; NPM stood at 22.0% in H1FY17 vs 20.7%. The consumption of raw material relative to sales fell to...
After growing by 10.4% in Q1, JKIL's contract revenue contracted by 5.7% in Q2 - income from operations nosedived 6.4%, the weakest showing in six quarters largely due to heavy monsoons and nascent stage of some large metro orders. Its transportation business made up for much of the dilly dallying of its civil business - Rs 8.66 crs ($1.3m) in Q2 from Rs 69.58 crs ($10.2m) in Q1- as it posted 27.5% growth in revenues in H1 - revenue share 84.3% from 67.9%. Civil business reported revenues of Rs 78.24 crs ($11.5m) in H1, down 58.2% from the same period a year ago; Rs 8.66 crs...
Muted production and weak dispatches by the key clients kept Lumax on the back foot in the first half of the current fiscal. The revenue from operations increased marginally by 1.8% in Q2FY17 to Rs 309.83 crs/$45.6m (Rs 304.21 crs/$44.8m in Q2FY16) after seeing a slump of 4.5% in Q1FY17. Despite the two wheeler (17.5%) and the passenger segment (12.3%) seeing a robust growth in H1, Lumax struggled to keep the uptrend it witnessed last year. Deceleration in the auto industry seen in the last month is expected to continue till the end of the fiscal would...
In Q2FY17, the gas division recorded revenues of Rs. 639.41 crs ($94.3 m) and volumes of 470587 MT. The volumes comprise of 14683 MT of distribution (vs 12600 MT in Q2FY16), 252254 MT of logistics (vs 205600 MT) and 203650 MT of sourcing (vs 127700 MT). The half yearly (H1FY17) revenues for the gas and liquid division stood at Rs. 1342.23 crs ($198 m)...
Unyielding increase in EBIT margins of POC business explains the gaping profits (standalone) between LSC and POC business - POC's EBIT was nearly three time that of LSC's in HIFY17 from just 1.4x in FY16 and 1.2x in FY14. It also restricted sharp erosion in PBT in H1 - grew by a disappointing 4.7% for the LSC business EBIT slid 26.9% to Rs 61.44 crs ($9.1m) from Rs 84.07 ($12.4m) in the same period a year ago. Thanks to lower tax provision, PAT advanced by 12.9% to Rs 162.86 crs ($24.1m) in H1. Atul's Board of Directors recently approved the partnership of Atul or its...
Guarding the positive trend in the core home loan portfolio, LICHFL has been able to fortify its individual loan book by growing at 14.7% y-o-y in the first half. Competitive products and on ground marketing activities have helped it to increase the disbursements by 13.9%. Grabbing the opportunity from the Seventh Pay Commission, it has launched products for central and state government employees at lower rates. Expansion in margins by 12 bps (2.7% vs 2.6%) in the last quarter from increase in share of LAP portfolio (9.7% in H1FY17 vs 8.8% in FY16)...
The company is fairly penetrated in North India. The western and eastern parts of the country are more penetrated. Barring West Bengal and Tamil Nadu, Atul Auto's products cts are available throughout the country. The company plans to be available throughout the country in the next two years. Although the company has received approval for...
