Khambatta Securities Broker Research reports

KCL has a strong project pipeline of 13 ongoing and 3 planned projects with an aggregate carpet area of approximately 17.6 lakh sq ft. Further, its experience in affordable housing puts it at an advantageous position...

The marginal improvement in EBITDA margins comes on the back of 220 bps sequential increase in 1Q FY18, mainly contributedbyreducedpowercost.Thisreducedpowercostis attributable to the commissioning of a solar power plant at Khopoli. According to management, this had helped the...

Libas is uniquely positioned in the mid-segment of Indias ethnic designer clothes market where there are not many organized players. While the company specializes in customized offerings and boasts of having celebrities in its clientele, it is looking to expand its ready-towear line. Libass wholesale business has some marquee corporate clients such as JW Marriot, Novotel, Armani Hotel Dubai, Atlantis The Palm Dubai, BMW, Skoda Auto, the Emaar Group and the Indian Premier League. Growth in the companys retail business will be driven by its aggressive...

Sun Pharmaceuticals Ltd. (Sun Pharma) total income increased 7.1% q-o-q but decreased 19.4% y-o-y to Rs 66,503 mn in 2Q FY18, falling short of our expectations for the quarter mainly due to loss in business from US market due to...

Rajoo Engineers Ltd (Rajoo or the Company) reported tepid financial result for 2Q FY18. The total revenue of the Company was flat at Rs 274 mn Y-o-Y (Rs 272 mn), whereas Q-o-Q the revenue increased more than 2 fold (Rs 126 mn). The revenue was low for 1Q FY18 due to GST impact. The sales have picked up since then and the management foresee substantial potential. The Company has robust order book, executable in next 9 to 12 months. EBITDA for the quarter increased by 22.8% Y-o-Y to Rs 45 mn (Rs 37...

Aurobindos revenues grew 20.1% q-o-q and 17.5% y-o-y to Rs 44,462 mn in 2Q FY18 exceeding our expectations. Revenue growth was driven by 9.9% y-o-y growth in US and 38.6% y-o-y growth in Europe during the quarter. API business also revived during the quarter and grew at a modest 5.0% y-o-y. Adjusted EBITDA increased 30.6% q-o-q and 20.3% y-o-y to Rs 11,276 mn during 2Q FY18. Adjusted EBITDA margin increased 202 bps q-o-q and 58 bps y-o-y to 25.4% in 2Q FY18, exceeding our expectations, mainly due to lower than expected Cost of Goods Sold as percentage of revenues during the quarter....

Rama Steel Tubes Ltd (RST) reported a better than expected financial performance for Q1 FY18. During the quarter, net sales increased 11% y/y to Rs 729m. Q1 FY18 EBITDA increased 23% to Rs 67m (Rs 55m a year ago) while the EBITDA margin came at 7.4%. Improvement in EBITDA Margins was mainly contributed by reduced power cost. The commission of solar plant at Khopoli has reaped the benefit for the Company and has reduced its power cost. As...

Cipla's total income remained flat q-o-q but decreased 3.4% y-o-y to Rs 35,251 mn in 1Q FY18 falling short of our expectation. Cipla's domestic business recorded 12% y-o-y decline during the quarter mainly due to destocking in lieu of implementation of GST. EBITDA increased 27.7% q-o-q and 5.8% y-o-y to Rs 6,465 mn in 1Q FY18. EBITDA margin increased 421 bps q-o-q and 159 bps y-o-y to 18.3% in-line...

Aurobindos revenues grew remained flat q-o-q and y-o-y at Rs 37,008 mn in 1Q FY18 falling short of our expectations. Revenue growth was dampened by poor offtake in ARV and API business during the quarter. API business was negatively impacted by destocking in lieu of GST implementation during the quarter. Adjusted EBITDA increased 16.2% q-o-q but decreased 4.5% y-o-y to Rs 8,637 mn during 1Q FY18. Adjusted EBITDA margin increased 306 bps q-o-q but decreased 58 bps y-o-y to 23.3% in 1Q FY18 mainly due to higher than expected Cost of...

Founded by Mr. Chandrakant N. Doshi in 1986, Rajoo Engineers manufactures and sells plastic processing machinery and postextrusion equipment. Listed on the BSE in 1992, it is the first extrusion company in India to be completely automated and has...