FundsIndia Broker Research reports

FY27 revenue run-rate target of $2 Billion. Al adoption expected to accelerate across clients. EBIT margin aspiration of 16-17%. Continued growth across BFSI, Healthcare & Technology.

Double-digit volume growth expected to continue. Premiumisation supporting revenue growth. New capacity additions to support demand. Distribution expansion to drive market share gains.

Strong earnings visibility supported by premiumisation. Homes segment emerging as second growth engine. Potential tariff hikes may support ARPU growth. Improving margins & deleveraging strengthening profitability.

Early double-digit revenue growth expected in FY27. Continued momentum in Animal Nutrition business. Recovery expected across crop care & Astec businesses. Improving profitability and capital efficiency.

Strong revenue visibility from record order book. Margin expansion supported by operating leverage. Capacity expansion supporting future growth. Export opportunities strengthening global presence.

Capacity expansion driving growth. Self-funded capex with strong balance sheet. Scale-up to 2 Mtpa by FY30 Silver output supporting earnings mix. 30% dividend policy adds income visibility.

Strong SUV momentum to continue. EV scale-up to drive next phase. Capacity expansion ensures long-term growth. Multi-year earnings visibility.

~20% growth expected in FY26. Margin expansion with better mix. Sanand expansion as key trigger.

Volume-Led Growth. Patient volumes recovering steadily. Expansion in Tier 2/3/4 markets. Increased tests per patient.

Capacity-Driven Earnings Growth. Earnings linked to capacity commissioning. ~15.5% regulated ROE under cost-plus framework. Rising regulated equity driving profit visibility.

Bed occupancy improved from ~55% in FY21 to ~68% in FY25. Strong demand for high-acuity CONGO-T specialties. Average revenue per inpatient rising with better case mix.

Order Book: ~Rs 21,000 Cr. Defence Orders: ~Rs 18,000 Cr. Increasing participation in rockets & ammunition. Expanding defence exports.

Order Book: Rs 63,287 Cr. FY26 Inflows: Rs 19,456 Cr. Core Segments: ~70% of order book. Order book doubled in 4 years. Domestic 74% | International 26%.

Solar, hydrogen, semiconductors & data centres. Rising demand for ultra-pure & desalinated water. Rs 1,000 Cr | 100 MLD desalination project. Strong UPW, RO, ETP & ZLD capabilities.

GST formalisation shifting freight to organised networks. Coastal shipping modal share expected to double Improving rail & container utilisation.

Q3FY26 inflow F1.36 tn ( T 17% YoY). Order book surged 30% YoY to & 7.33 tn. Prospect pipeline expanded to ?5.92 tn. Multi-year revenue visibility improving.

Jewellery revenue grew ~21% YoY in Q2FY26. Operating income surged ~55% YoY. Growth sustained despite muted buyer volumes.

Q3FY26 net new bookings at $3.0 bn (4-year high). 63% from Applications & ER&D — resilient demand pockets. $473 mn, 5-year mega deal improves medium-term visibility.

U.S. business grew ~41% YoY in Q2FY26, led by specialty & complex launches. Europe up ~27% YoY; Other Developed Markets up ~19%.

End-to-end defence electronics capabilities with deep institutional trust and long-term national relevance