LKP Securities Broker Research reports

3QFY22 marks the manifestation of sequentially lower provisioning expenses (13bn v/s 17bn in the previous quarter) and 15% sequential increase in net profit at 36bn. The bank's reported slippages number were lower (41bn v/s 54bn in 2QFY22) as GNPA and NNPA ratio narrowed...

Q3 FY22 to 1.18 bn as the company gained new businesses in exports and also due to price hikes seen in aluminum. At EBIT levels the margins were at 4.4% v/s 6.6% qoq and 4.5% yoy. In the industrial Engineering segment, revenues moved up by 35% yoy while going down by 19% qoq to...

BB & below exposure stood flat at 1.7% of net advances, 9) the bank's net advances grew by 16.4% YoY and 6.4% sequentially; and 8) deposits crossed 10tn mark and grew by 5.5% QoQ with 80bps improvement in average CASA at 44.9%. Moreover, the credit cost of 99bps for the quarter. Factoring stable balance sheet growth and credit cost of 1.25% in FY22E, we estimate...

of trading in the RECs and ESCerts. Cumulative volumes from RECs and ESCerts in this quarter were 4,072 MUs (RECs 3,574) which provided a boost for the company's growth momentum. While the volumes on traditional products such as DAM and TAM were subdued this quarter due...

Polycab witnessed another quarter of strong recovery in demand across segments resulting in a topline growth of c.12% and 22% sequentially and yoy respectively. The company continued reporting higher quarterly revenues for the second consecutive quarter with topline of 3,372 crs where wires & cables (w&c) contributed around 88% followed by FMEG c.10%. In this quarter,...

HDFC Bank reported a strong trend on asset quality and operating performance in 3QFY22. The absolute GNPA amount decreased 2% sequentially, which resulted in improvement in GNPA ratio to 1.26% v/s 1.35% in the previous quarter. The reported GNPA is well below the historical trend...

Aptus Value Housing Finance is a retail-focused housing finance company that primarily serves low and middle-income self-employed customers in the rural and semi-urban markets of India. The company offers home loans to retail customers to purchase homes, construct residential...

capabilities and wide network across 140 countries. With sustained marketing and R&D spends, 1 Year Avg. Dly Traded Volume (in lakh) BKT has narrowed its price discount to global peers (to 10-15% vs 25-30% 5 years ago in the agri space). Gradual shift towards OTR (32% by the end of FY21 v/s 20% in FY15) will also provide great...

Raymond has bounced back strongly with revival of the economy and increasing demand from its consumers led by the onset of wedding season and adoption of hybrid working culture. Also, cost control and store rationalization measures taken were fruitful leading to higher operational margins, positive cash flows and substantial reduction in debt. Each of the businesses has performed well posting positive to higher margins in Q2FY22. To further unlock value from each of the business segments, the management has recently announced a new initiatives of restructuring. Under this new initiatives, the company has consolidated its Engineering business comprising of Tools & Hardware and Auto Components into JK Files Ltd, is subsidiarising its Real...

Post amalgamation of Andhra Bank & Corporation Bank into Union Bank of India, UBI today is a leading PSU bank with a network of over 9200 branches and over 11600 ATMs. The bank's total business as of 2QFY22 stood at 15.5tn, comprising 9.1tn of deposits and 6.4tn of advances as of 30th September 2021. The bank has different lending verticals; retail, agriculture, MSME and...