Geojit BNP Paribas Broker Research reports

Standalone profit rose sharply by 91% YoY to Rs. 7,048cr in 9MFY26, supported by improved operational efficiency and strong margins. At the same time, asset quality strengthened, with the Stage III ratio in the gold loan portfolio declining to 1.58% in...

Author: Antu Eapan Thomas - Sr. Research Analyst ensuring long-term visibility. Near-term profitability, however, remains under pressure due to delays in high-margin water and metro projects. We expect the prospect of a turnaround in T&D orders to drive earnings growth in FY27/FY28....

Siemens India, the flagship listed company of Siemens AG (Germany) in India, is an integrated technology provider and leading powerhouse in electronics and electrical engineering. Siemens holds a strong position in the energy and infrastructure space,...

ABB's performance reflects disciplined execution and a diversified, technology-led portfolio, enabling it to navigate cyclical end-markets while deepening customer partnerships. Management remains focused on scaling capabilities to address structurally strong themes such as grid modernisation, rail and transport electrification, renewables, and fast-growing data-centre infrastructure, supported by a robust enquiry pipeline. ABB continues to enhance competitiveness through a portfolio refreshincluding energy-efficient drives, next-generation machinery drives, and higher-efficiency motorsalongside an expanding suite of AI/ML-...

Despite short-term challenges, GAIL has demonstrated its ability to adapt and recover, with its natural gas transmission volume showing improvement. The company's growth prospects are promising, driven by its strategic plans to expand its city gas distribution network, increase its presence in the power and fertiliser sectors, and enhance its liquefied natural gas sourcing portfolio. Furthermore, GAIL's commitment to investing in its infrastructure and capabilities, including pipeline projects and initiatives towards renewable energy, is expected to drive longterm growth. With a solid strategy in place and a proven track record of execution,...

Mphasis' earnings remained resilient in Q3FY26, marked by continued momentum in strategic deal wins and robust execution across its core verticals. The quarter was supported by strong pipeline conversion, successful ramp-up of large deals and...

IGL is poised for sustained growth due to its robust infrastructure, expanding footprint and favourable regulatory developments. The company's leadership position in India's city gas distribution sector and recent regulatory changes, such as tax replacements and transmission framework rationalisation, are expected to positively impact growth. IGL's financial performance shows resilience, with a 3% YoY growth in total sales volume. Furthermore, the company's aggressive pursuit of...

Suzlon has demonstrated strong execution momentum in the 9MFY26, with higher deliveries and improved scale supporting growth in revenue and profitability. Backed by a record order book of 6.4GW and steady order inflows, we expect consistent revenue growth over FY2628E. Moreover, export initiatives and the company's development-...

While Wonderla's Q3FY26 earnings were impacted by one-time regulatory costs and adverse weather, the underlying 8% ARPU growth and the premium performance of "The Isle" resort demonstrate the brand's sustained pricing power. The medium-to-long-term outlook remains positive, supported by the ramp-up of the Chennai park with margins similar to those of Bengaluru and Hyderabad, alongside an expected recovery in footfalls across mature locations as temporary headwinds subside. While management remains conservative regarding specific timelines for the next large-format park, new announcements are expected over the next 2-3 years. Increased depreciation from recent project commissioning and footfall disruptions...

Zydus Lifesciences Ltd (Zydus) is one of India's leading, vertically integrated pharmaceutical companies. It operates across the value chainfrom manufacturing finished dosages to active pharmaceutical ingredients, as well as animal healthcare and wellness products. Zydus's revenue increased 30.3% YoY to Rs. 6,865cr in Q3FY26, driven by strong...

Author: Antu Eapan Thomas - Sr. Research Analyst to support margins and profitability. While DBLs focus on HAM asset monetization is expected to support cash flow and strengthen balance sheet. We therefore revise our rating from SELL to Accumulate with a TP of Rs 478, based on a P/E of 15x on FY28E EPS and the HAM/MDO business at 1x P/B of invested equity....

Power Mech offers strong growth visibility, backed by a robust order book of 56,806cr, nearly 9.7x TTM sales, supported by healthy inflows across EPC, O&M, and civil segments. Mining is emerging as a key profitability driver and is expected to scale meaningfully from FY26 into FY27, with EBITDA margins projected to expand to around 17%. Additionally, the landmark 2,550cr Singareni EPC order and the 800cr Battery Energy Storage project...

*over or under performance to benchmark index Zee Entertainment Enterprises Ltd (ZEEL), a subsidiary of Essel Group, is a mass media company with interests in television, print, films, mobile content, internet and allied businesses. SEBI issued a fresh show-cause notice on February 12, 2026 to ZEEL, its Chairman Emeritus Subhash Chandra, CEO Punit Goenka, and 84 other...

Godrej Properties' 9MFY26 performance was weak due to higher construction spending and timing of deliveries, but the company is set for a strong Q4 with multiple launches and a large batch of OCs. Additionally, a robust launch pipeline and steady pace of deliveries are driving growth, whereas focus on high-demand micro-markets ensures steady sales velocity. Looking ahead, the company is consolidating its joint ventures positioning GPL for stronger growth, contributing to...

Granules India Ltd. (Inc.) is a vertically integrated, high growth pharmaceutical company headquartered in Hyderabad, India. The company manufactures Active Pharmaceutical Ingredients (API), Pharmaceutical Formulation Intermediates...

*over or under performance to benchmark index Kajaria delivered resilient operational performance in Q3FY26, due to efficient margins and strategic improvements. 'Kajaria 2.0' emphasises SKU rationalisation to improve plant efficiency, shift toward value-added products through the conversion of manufacturing facilities and tighter go-to-market model via dealer unification that enables cross-selling across product verticals. But sluggish demand, increased freight rates and ongoing geopolitical issues are concerns. Hence, we reiterate our...

With strategic integration, ES-Tec enhances its European footprint, while deeper engagement with Volkswagen and ongoing portfolio diversification should gradually reduce client concentration risk. During the quarter, the company secured six key deals across automotive and industrial segments, spanning full-vehicle programs and sustainability projects with global OEMs. Growth is driven by automotive recovery and SDV programs, with aerospace revenue projected around $40 million in FY26. Opportunities are also expanding in commercial vehicles and factory automation. Despite regulatory changes and industry headwinds in key markets, management anticipates healthy sequential revenue growth in Q4, with margins improving...

Dabur's Q3FY26 financial performance demonstrated stable operating momentum, driven by improving demand across categories. Growth was led by HPC, which benefited from premiumisation, strong performance of hair care and oral care, and continued market share gains. In the healthcare business, health supplements, honey and wellness products also posted sustained traction. The management has noted a gradual recovery in consumption, supported by resilience in rural markets,...

In Q3FY26, the company demonstrated double-digit revenue growth, margin expansion, operational efficiency and rapid store expansion across markets. Robust growth in the Sri Lanka and Bangladesh businesses, along with the Turkey business meeting its acquisition debt obligations through its own cash flows, is expected to increase shareholder value in the future. Judicious capital allocation, along with continued investment in the supply chain, technology and store expansion to over a target of 5,000 stores , is expected to drive long-term growth. Rising middle-income class with increased discretionary spending, rapid smartphone penetration, online...