Background: Established in 1995, Solar Industries is the largest manufacturer of industrial explosives and explosive initiating systems in India and has the world's largest manufacturing facility for packaged explosives. With a licensed explosives capacity of over 290,000 MT/annum, the company has ~28% market share in India. Solar, with a 70% market share in exports from India, exports to 51 countries around the world. Economic Explosives, a 100% subsidiary, manufactures detonators. In recent years it has expanded its manufacturing base to Nigeria, Zambia, South Africa, Turkey, Ghana and Australia. SIIL also has interests in the coal...
Background: KPIT Technologies is leading is a global technology company providing software solutions that help mobility companies leapfrog towards autonomous, clean, smart and connected future. The major focus areas of the company are power train (Conventional and electrical), autonomous technology (vision and control systems), connectivity and diagnostics. The company's focus sub verticals are Passenger cars, Commercial and Off-highway vehicles and New Mobility. KPIT derives 84.6% of its revenue from strategic top 21 clients. The company has 6,732 employees to cater services to 55 clients. The company's business is spread across America (41%), Europe (39%), and Row (20%)....
European stocks shook off early lethargy, gradually picking up steam as the session progressed before finishing solidly higher. The markets saw little movement ahead of closely watched U.S. employment data - but the markets marched firmly into the green after those jobs numbers came in much better than expected, reinforcing the global economic recovery. US stocks fluctuated after an early move to the upside during trading but managed to remain mostly positive throughout the...
US stocks moved mostly higher over the course of the trading day, as traders reacted positively to the Federal Reserve's monetary policy announcement. With the continued upward move, the major averages once again reached new record closing highs. Asian stocks ended broadly lower as investors adopted a cautious approach ahead of the U.S. Federal Reserve's monetary policy...
Background: Indian Bank features among the mid-sized banks in the public sector space. As of 2QFY22, the bank had business of about 9.2tn operating through a network of 5,759 branches. Prior to amalgamation with Allahabad bank, Indian Bank's footprint was largely skewed towards the southern states of Tamil Nadu, Karnataka, Andhra Pradesh and Kerala. Now the combined entity has a stronger presence in Central and Eastern states of India too. With RoA of ~0.75%, the bank features amongst the most profitable banks in the PSU space. The bank has...
Background: AU SFB, initially incorporated as a vehicle finance company in 1996, was transformed into a Small Finance Bank in April 2017. The bank has presence in 15 states and 2 union territories, with 794 branches, 470 ATMs, 31 asset centers and ~6,59,904 loan accounts. The bank offers a comprehensive and tailor made range of products (both asset and liability) and services to cater to the needs of various businessmen (SME and MSME) and other middle and low...
Segment wise performance: (Escorts Agri Machinery): Tractor volumes came in at 21,073 units during 2QFY22 vs. 24,441 units in 2QFY21 (-14% YoY). Segmental revenue at 12.5bn during 2QFY22 vs. 13.2bn in 2QFY21 (-6% YoY). (Escorts Construction Equipment): The sales volume for 2QFY22 was up 31% at 1,074 machines as against 821 machines in 2QFY21. The break-even number currently is 250 machines per month. EBIT margin for 2QFY22 stood at 3.6% against 1.7% YoY. Going forward, with improved funding availability and government thrust on infrastructure projects, demand is expected to recover to its full potential. (Railway Equipment Division) recorded a top line of 170mn vs. 160mn in...
Background: Emami is a FMCG company with niche focus on relatively under penetrated segments such as antiseptic cream, fairness cream, talcum powder, cooling oil, pain balm and pain reliever. Emami's power brands such as Navratna Oil, Boroplus Cream, Zandu & MenthoPlus Balm, Fair & Handsome, Boroplus Powder, Navratna Cool Talc, Fast Relief, SonaChandi & Zandu accounts for 75% of company's sales. Emami sales have grown at a CAGR of 38.5% (FY2010-20)....
Background: JK Lakshmi Cements (JKLC) is a north Indian Cement player, established in 1982. JKLC has clinker units in Sirohi, Rajasthan and grinding units in Rajasthan, Gujarat and Haryana. The current clinker capacity is 6.2 MTPA and cement capacity is 11.5 MTPA. JKLC derives sales volume from the northern and western regions. The company has market share of ~6-7% in the northern region and ~9-10% in western regions. JKLC is on the spree of capacity...
Background: DCB Bank Limited (formerly Development Credit Bank Limited) has a deposit base of 317bn and advances of 268bn at the end of 2QFY22, making it the smallest bank in the listed private sector space, including both new and old generation private sector banks. Promoter group the Aga Khan Fund for Economic Development (AKFED) & Platinum Jubilee Investments holds ~15% stake. DCB services entail Corporate Banking - 11%, SME -10%, Agriculture 22%, Mortgages...
