Geojit BNP Paribas Broker Research reports

*over or under performance to benchmark index Phoenix Mills Ltd is India's leading retail mall developer and operator and a pioneer of retail-led, mixed-use developments. The company operates a diversified real estate...

As per market consensus, Coforge is trading at 1 yr fwd P/E of 23x (3 yr avg P/E of 34x), offering attractive valuation. Coupled with a strong executable order book, diversified vertical growth, and enhanced AI-led capabilities, the company is well-positioned to deliver sustained...

But profit after tax rose 14.1% YoY to Rs. 609cr, owing to higher non-interest income and lower provision expenses. efficiency to remain stable, with cost-to-income at manageable levels, and focus on increasing installment lending and quality customer acquisition via banca and open market channels. The company is also committed to achieving its medium-term profitability target, supported by improving asset quality and robust capital buffers. Portfolio diversity has been further strengthened with the launch of co-branded cards such as Tata Neu SBI Card, Flipkart SBI Card, Indigo SBI Card and PhonePe...

We continue to like CIE's diversified business across products, customers and geographies, which makes earnings less volatile in a tough global auto cycle. The Indian business is on a strong footing with a healthy order book and a growing customer base, while the European business has come out of restructuring with margins back at healthy levels. Near term concerns remain around aluminium cost pressures, weak exports and slow European demand. However, with margins improving and exports likely to pick up...

over or under performance to benchmark index 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...

and operational automation also helped. The management expects a gradual normalisation in margin as return ratios improve over the medium term, aided by enhanced fee income generation and incremental contributions from subsidiaries. The strategic emphasis remains on capital-efficient growth, portfolio diversification, risk management discipline and the rebranding of retail securities as Kotak Neo, reflecting a focus on scalable innovation and seamless customer experience. While external challenges including geopolitical tensions and commodity volatility persist, the bank's...

The company delivered a strong double-digit growth driven by robust domestic demand, expanding distribution reach, continued market-share gains and solid execution across Cables & Wires and FMEG segments. Going forward, extra heavy voltage (EHV) capacity commissioning, re-establishment of the U.S. distribution network, deepening export footprint, FMEG premiumisation and sustained investments under Project Spring are expected to support long-term growth. However, geopolitical uncertainties from the Middle East conflict, elevated input prices, inflationary pressure...

Tanla Platforms Ltd. is the largest Communication Platform as a Service (CPaaS) player in India. Tanla has two major businesses: Enterprise (91%) and Platform (9%), both using blockchain technology to reduce spam and fraud activities and make it easy to...

*over or under performance to benchmark index impacted by subdued global soda ash pricing and distribution in international supply chains due to geopolitical uncertainties. Revenue of basic chemistry products declined 3.4% YoY to Rs. 2,933cr, driven by lower US export volumes, weak southeast Asia realisation and reduced UK production during the maintenance shutdown. India standalone revenue grew 2.9% YoY to Rs. 1,254cr, led by higher domestic soda ash volumes and the Gujarat facility achieving production of 1mn tonne. TCL's EBITDA declined 16.2% YoY to Rs. 274cr, while margin dipped 130bps YoY to...

TII continues to prioritise expansion of its clean mobility ecosystem with incremental capex visibility, alongside steady execution in newer adjacencies such as CDMO and medical devices. While ramp-up in the railway segment remains gradual, ongoing product approvals and capacity utilisation improvements across engineering facilities are likely to aid growth over the medium term. Backed by robust cash flows, sustained cost optimisation, and calibrated investments across core and emerging platforms, TII remains well placed to deliver consistent growth across its business portfolio. We value...

BFL delivered a strong performance, with double-digit AUM growth and robust *over or under performance to benchmark index profitability, supported by traction across key lending segments and diversified product portfolio. The management highlighted improving portfolio quality, stable margin and continued operating leverage, with increasing contribution from segments such as gold loans, vehicle finance and MSME loans to the overall mix. BFL is also strengthening its position through an accelerated AI-led transformation in underwriting, collection, customer engagement and operating processes, which...

The company delivered a healthy operational performance during the quarter, driven by sustained momentum in quick commerce, gradual recovery in food delivery, and continued expansion across geographies. The company continues to witness strong customer acquisition and engagement trends, supported by rapid dark-store additions, broader assortment availability, and deeper penetration beyond key metros. While competitive intensity in quick commerce remains elevated, management continues to...

FY27, aided by expansion into ophthalmic and nasal spray products, significantly widening the addressable market. The Hyderabad consolidation (5 plants into 2) was completed in JanFeb 2026, gistics costs, and improved utilization. Capex has declined sharply over the past three years and is now fully funded through internal accruals, signalling a shift from an investment-heavy phase to a...

Food revenue grew 4.4% to Rs. 3,566cr, driven by high single-digit volume growth on the back of a double-digit growth in lifestyle nutrition and coffee. The relaunch of Horlicks, expansion into the ready-to-drink and protein segments, and momentum from the packaged food business gave support. EBITDA increased 7.5% YoY to Rs. 3,725cr, and EBITDA margin expanded 20bps to 23.7%, driven by operating leverage....

*over or under performance to benchmark index The company's consolidated revenue declined 23.3% YoY in Q4FY26 to Rs. 9,442cr due to the disruption in LNG deliveries from Qatar in March, curtailing throughput...

opportunities arising out of rebuilding in the Middle Eastern region. Due to the improved long-term sector prospects and the recent run-up in price, the valuation appeared stretched; we therefore revise our rating to Accumulate and...

*over or under performance to benchmark index Bharat Forge Ltd. (BFL) is a leading player in the forging industry. The company serves in several sectors, including automobile, power, oil and gas, rail & marine,...

*over or under performance to benchmark index IndusInd Bank, part of the Hinduja Group, provides vehicle and property loans through its consumer finance division, and a wide range of products to small and...