Background: Amara Raja Batteries Limited is the technology leader and one of the largest manufacturers of lead acid batteries for both industrial and automotive applications in the Indian storage battery industry. In India, Amara Raja is the preferred supplier to major telecom service providers, Telecom equipment manufacturers, the UPS sector (OEM & Replacement), Indian Railways and to the Power, Oil & Gas, among other industry segments. Amara Raja's industrial battery brands comprise PowerStack, AmaronVolt and Quanta. The Company is a leading manufacturer of...
Background: Balkrishna Industries (BIL) is focused solely on 'off-highway' tyres catering to agricultural & industrial segments. The company has a ~7% share of the global market. While OTR forms ~65% of the global market, for BIL, it only contributes ~33% to its revenue. The company has been undertaking various actions like setting up warehouses in markets in North America and Europe to be closer to the customer and have a just in time (JIT) system. The company sales cover over 130 countries through distribution network in Americas, Europe, India and Rest of the world. BIL...
Background Established in 1958, Minda Industries (MIL) is a flagship Company of UNO MINDA GROUP and one of the leading suppliers of proprietary automotive solution to OEMs. Headquarter at Manesar, Gurgaon, the company has 62 plants globally and R&D centers spread across the globe in 8 locations. The company offers a wide range product across different verticals of auto components like switching systems, lighting systems, acoustic systems and alloy wheels among others. It has more than 230 design registration and more than 30,000 touch points. Company has ~50% market share in switch segment thus leading automotive components...
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...
