Kewal Kiran Clothing Ltd is engaged in manufacturing and marketing of wearing apparels. The company's segments include Apparel & Life style Accessories/Products, and Other/Reconciling Item. The company is also engaged in generating power from wind turbine generator. It offers a range of western wear for men and women under its four brands: Killer, Easies, LawmanPg3 and Integriti....
Assets quality witnessing improvement: During FY11-FY13, MGMA shifted its focus from CV/CE financing to other segments such as tractor/SME in order to enhance the yield on book and leverage opportunities in rural areas. While MGMA gained market share in tractors and UV/cars led by aggressive growth, rural stress in 2014 and 2015 offset the benefit of yield and GNPA ratio, which was at 0% in FY12 increased to 1.6%/3.6% in FY13/14 and worsened to 8.1% in FY16. Demonetization, a govt's move to check black money in economy, further added to woes and the company GNPA increased to ~10% by Q3FY17....
IIP expands by 7.1% in Feb 2018; CPI inflation eases to 4.3% in Mar 2018 Outlook: Manufacturing conditions has improved significantly over the last four months as avg. factory output growth was recorded at 7.6% driven by strong performance of manufacturing sector. While the expansion in capital good can also be attributed to favorable base effect in Feb, avg. 11% growth over the last seven months showing that investment scenario in the economy has improved. Strong growth in consumer durable and non-durables sector indicated broad based improvement in the demand. IIP growth is expected to remain strong in the coming...
KPR Mill Ltd. is a vertically integrated apparel manufacturing company in India, which produces Yarn, Knitted Fabric, Readymade Garments and Wind Power with its production facilities in Tamil Nadu, India. The company has 1,200 regular...
Westlife Development Limited(WDL) is operating Quick Service Restaurants (QSR) in India through its subsidiary Hardcastle Restaurants Pvt. Ltd. (HRPL). The Company operates a chain of McDonald's restaurants in west and south India, having a master franchisee relationship with McDonald's Corporation USA. Hardcastle Restaurants Pvt. Ltd. (HRPL) is a McDonald's franchisee with rights to own and operate McDonald's restaurants in India's west and south markets. HRPL has been a franchisee in this part of India since its inception in 1996. The...
Indian economy and markets are standing on stronger and exciting fundamentals. 2017 was a good year for the equity market, both primary and secondary equity market witnessed increased fund flows. This was mainly due to the stable macroeconomic conditions and implementation of a wide range of structural reforms. At one period, the market was demanding a valuation of almost 10-15% premium to its long term average. However, the euphoria was short-lived and was halted by the re-introduction of long term capital gain (LTCG) tax and the inflationary budget in the domestic market. This coupled with correction in the US equity market led to almost 10% correction in the domestic market. However, we feel...
Valuation: At CMP of Rs. 1391.8mn, Ajanta Pharma Ltd. is trading at a P/E multiple of 25.2(x) compared to the industry peer of 27.6(x). The company has an upside potential of 25% to 30% in the next 12 to 18 months. We arrive at a target price in...
MPC's view on inflation: Average inflation rate during January and February stood at 4.8% lower than the projected inflation rate at 5.1% for Q4FY18 in the 6th bi-monthly policy mainly driven by sharp decline in vegetables prices and significant moderation in fuel group inflation. As per the MPC, available data suggests that vegetables prices continued to moderate in March as well and thereby the RBI adjusted inflation forecast downward to 4.5% for Q4FY18. CFPI, which represents 47.2% weight in the index, eased to 3.3% in Feb v/s 4.7% in Jan. Inflation trajectory during H1FY19 is expected to be lower than earlier...
Assets quality remains weaken but probability of lower slippage going forward provides comfort: Slippage ratio increased by 60 bps to 2.1% in Q3FY18 v/s 1.6% in Q2FY18 due to higher slippage from retail (Rs1,500 mn) and corporate (Rs980 mn). Retail segment which is considered as less risky, higher slippage from this segment is really worrisome for bank, but it was mainly due to the education loans in the Kerala state owing to state govt's launched Rs9,000 mn scheme in May'2017. Educational loan slippage can be attributed to the Kerala government which stated that it will make good 40% of loan default quantum in...
Bata India is the largest retailer and leading manufacturer of footwear in India and is a part of the Bata Shoe Organization. Incorporated as Bata Shoe Company Private Limited in 1931, the company was set up initially as a small operation in Konnagar (near Calcutta) in 1932. In January 1934, the foundation stone for the first building of Bata's operation - now called the Bata. In the years that followed,...
