Motilal Oswal Broker Research reports

Barbeque Nation Hospitality (BARBEQUE) revenue grew 1.3% YoY, impacted by higher vegetarian days in 2Q and sluggish demand.

Samvardhana Motherson (MOTHERSO) reported muted results, with an EBITDA margin of 8.8%, down 80bp QoQ (vs. est. 9.4%), hit by global PV industry slowdown, slower EV ramp-up, and seasonal factors.

Jyothy Laboratories (JYL) reported flat sales YoY (miss) in 2QFY25. It posted a five-year CAGR of 10%. Volume growth was at 3%, on account of a high base.

BSE reported a strong performance in 2QFY25 as PAT jumped 192% YoY and 31% QoQ to INR3.46b (20% beat), driven by strong revenue growth and better-than-expected operational efficiency.

Bosch’s (BOS) 2QFY25 performance beat our estimates owing to lower RM costs (led by lower traded goods) as BOS continued its efforts for the localization of components.

Zydus LifeSciences (ZYDUSLIF) delivered better-than-expected operational
performance for the quarter. While its revenue grew at a lower rate of 19% YoY (vs. est. of 25%).

Britannia Industries (BRIT) posted revenue growth of 5% YoY in 2QFY25 (est. 7%) and volume growth of 8%.

HNDL’s consolidated net sales stood at INR582b (+7 YoY/+2% QoQ) in2QFY25 vs. our est. of INR569b, aided by better realizations and efficiencies in India operations.

Hyundai Motor (HMI)’s 2QFY25 performance was hit by ~9% YoY volume decline and higher discounts, leading to a 30bp YoY/70bp QoQ EBITDA margin contraction to 12.8%.

Triveni Turbine (TRIV)’s 2QFY25 results exceeded our expectations on both the revenue and profitability front. The company reported a revenue/EBITDA/PAT growth of 29%/50%/41% YoY in 2QFY25.