Q2FY26 performance: Protean reported revenue of 251 crore which increased by 14% YoY and 19% QoQ, mainly led by new business segment which reported revenue of 43 crore (up by 513% YoY). Tax services i.e pan card related business reported revenue of 107 crore (declined 10% YoY), CRA services i.e. pension related business revenue: 78 crore (up by 12% YoY), Identity services i.e. related to PAN and Aadhar authentication revenue: 22 crore (declined 6% YoY). EBITDA reported at 29 crore with EBITDA margin of 11.7%, up 480 bps YoY while it...
Q2FY26- Muted numbers on expected lines Revenues grew ~6% YoY to 8286 crore due to softness in the US (44% of the revenues) which grew 3% to 3638 crore. Europe (30% of the revenues) grew 18% to 2480 crore and ARV (~4% of the revenues) grew 68% to 325 crore. Growth Markets (~10% of the revenues) grew ~9% YoY to 882 crore (including India formulations). APIs de-grew at 17% YoY to 961 crores. EBITDA grew 7% YoY to 1678 crore while EBITDA margins increased 16 bps to 20.3%. EBITDA de-growth was mainly driven by increase in employee expenses....
Footfalls sustain despite heavy rains; H2 might witness some uptick: WHL reported 12.1% YoY growth in overall footfalls majorly driven by Kochi (+38% YoY, grew by 4% compared with Q2FY24). Other parks such as Bengaluru and Hyderabad reported flat footfalls despite heavier rainfall while Bhubaneshwar despite of heightened rainfall activity this season, reported 3% YoY growth in footfalls which signals stable consumer sentiments. The management expects the footfalls to continue growing in single-digits among mature parks while it expects newer parks to lead the...
Q2FY26 performance: Revenue declined by 1.6% YoY (+14% QoQ) to 744 crore as the revenue of cranes, construction equipment & material handling segment (94% of total revenue) was flat YoY (+15% QoQ). Agri equipments revenue (~6% of total) stood at 49 crore (-20% YoY, +6% QoQ). EBIDTA margin improved to 14.6% (+30 bps YoY, +41 bps QoQ). EBITDA was flat (+0.4% YoY) at 109 crore. However, PAT declined 5% YoY (8% QoQ) to 90 crore as other income declined by 14% to 29 crore. PAT Margins declined 35 bps YoY to 11.6%. Company saw 18% decline in volumes in cranes, construction equipment segment to 2348 units vs 2863 units last...
Valuations at 9.1x EV/EBITDA & $70 EV/ton on FY27E, looks attractive, looking at company's strategic plan of achieving 30 mtpa by FY30E with favourable market mix. We maintain BUY on JKLC with TP of 1050 (based...
CPVC piping in India. As of FY25, it has 26 manufacturing units with an aggregate capacity of 5.49 lakh TPA (3.8 lakh TPA Pipes, Water tanks & Bathware, 1.3 lakh TPA Adhesives & Sealants, 36000 TPA Paints). It has a strong network of over 2.5...
About the stock: Chalet Hotels Ltd (Chalet) is an owner, developer and operator of premium hotels, commercial office spaces and residential properties in India. The Company's portfolio comprises 11 fully operational hotels representing 3359 keys, across mainstream and luxury segments, and commercial spaces, representing...
About the stock: Amber Enterprises India (Amber) is a leading manufacturer and solution provider for room air-conditioner (RAC) industry, commanding leadership with market share of 26-27%. It has capabilities to manufacture ~70% BoM for RACs. Its electronics division (PCBA, Bare PCB and Box-build) serves customers...
Strategic qualitative initiatives to drive growth: AIA witnessed a Mining conversion strategy to lead volume growth recovery: AIA has had a key breakthrough in its mining conversion strategy. It has bagged its maiden order worth $32.9 million (~291 crore) from a leading copper mining international company in Chile for the supply of high-chrome grinding media, strengthening AIA's foothold in the world's largest copper market, reinforcing confidence in volume recovery and earnings growth from FY27E onward. AIA's volume declined 14% over FY24-25 to 255000...
About the stock: Crompton Greaves Consumer electricals (CGCE) is one of the leading fast moving electrical goods (FMEG) companies with presence in electrical consumer durables (ECD). With a legacy spanning over 85+ years and robust distribution backbone of 2800+ distributors, 236,000+ retail touchpoints and over 860 service centres, CGCE is well positioned to capitalize its network for existing segments as well as provide a runway for its newer businesses to scale. Q2FY26 performance: CGCE reported modest Q2 with revenue of 1915 crore, up 1.0% YoY / -4.2% QoQ. Fans segment reported single digit de-growth YoY owing...
