Best of both worlds: yield of NBFCs, cost of banks Equitas offers a unique opportunity to participate in a business model that offers nimbleness and pricing power of an NBFC on one hand and the deposit generating ability of a bank on the other. Equitas has successfully diversified across 9 products with its core focus on self-employed individuals and micro...
Efficiencies drive robust profit growth; Thesis unfolding DCB reported another healthy quarter on the balance sheet front; profits surprise positively on the back of significant decline in cost/income. Advances stood at Rs. 22,888 Cr vs Rs. 18,595 Cr in Q3FY18 a growth of 23% YoY. Mortgages, Agri, Corporate and SME+MSME contributed 40%, 19%, 15% and 12% resp. We expect loan growth of 22% CAGR over FY18-20E. NIMs were flat at 3.83% QoQ. They were at 4.12% YoY resulting in NII growth of 17% YoY. NIMs are expected to inch higher in coming quarters. Other...
Extended winter will support near term RESULT!!! Monte Carlo Fashions Ltd, established in 1984, has a comprehensive product portfolio of garment & winter wears across woolen, cotton & cotton blended, home furnishing and kids segments. Company sells its product under umbrella brand of Monte Carlo. As on Sep 18, the company has 2500+ MBO, 242 EBO...
Vaibhav Global Ltd's (VGL) journey has been a roller coaster ride since its inception. After having a decade or so smooth and growth phase at the start, it faced huge losses during the global turmoil which pushed the company into CDR. However, the management took corrective steps in terms of restructuring the business (like converting the business model from pure jewellery company to retail company, shutting down of loss making subsidiaries etc). Post this, the company not only came out of the process but had its most profitable years. However, this attracted PE funded new players with much more aggressiveness...
Karur Vysya Bank (KVB) is an old generation regional private bank skewed towards SME lending, having a strong presence in Southern India (TN). New management with extensive track record in Retail banking: Mr. P R Seshadri, joined KVB in Sep 2017 as the MD & CEO. He is a seasoned banker with SME and Retail banking experience of over 25 years spanning multiple geographies, mainly with Citibank. He has a proven track record of building & leading large teams as well as executing complex business objectives. Mr. Seshad i s e te si e e pe ie e & expertise in Retail & SME shall aid KVB in...
Uflex Ltd. reported a good set of numbers in Q2FY19. Sales for the quarter increase by 26.5% YoY to Rs 2015.8 cr. During the quarter, the company witnessed an overall sales volume growth of 10.6% YoY, with packaging business volumes growing 11.6% and film volumes growing at 10.4% YoY. The management has maintained its guidance for double digit volumes growth in FY19, on the back of additional focus to develop high-margin value added products. EBITDA margins saw a dip from 14.4% in Q2FY18 to 12.9% in Q2FY19 and remained flat on a QoQ basis. Due to a sharp spike in crude oil prices squeezing the packaging business...
Shemaroo reported improved set of numbers for the quarter. Net sales came in at Rs 163.3cr (+32.4% QoQ, +21.6% YoY) in Q2FY19 vs QoQ Rs. 123.4 Cr, YoY Rs. 134.4 Cr. Improvement in revenue was led by both Traditional & New media business which grew by 39.3 % QoQ/17.5% YoY & 17.2% QoQ / 33.3% YoY respectively. Although sales increased Ebitda margins depressed by 542bps QoQ mainly due to rebranding expense which is one off. In Q1FY19 the company has rebranded its corporate identity after 55 years by a new logo and announces India Khush Hua' as its new tagline. Lower Ebitda margin led to lower PAT...
Minda industries Ltd. (MIL) had another healthy quarterly performance. Revenue from operations for the company grew by 39% YoY to Rs. 1,522 Cr vs Rs. 1,098 in Q2FY18 and Rs. 1,430 Cr in Q1FY19 (up 6% sequentially). EBITDA stood at Rs. 189 Cr as against Rs. 137 Cr same time last year (growth of 39%) and Rs. 170 Cr sequentially. EBITDA margins were flat YoY at 12.4% and higher by 50 bps sequentially. Adj. net profit post minority interest came...
Revenue from operations for the company grew by 18% YoY to Rs. 773 Cr vs Rs. 655 Cr YoY and Rs. 778 Cr QoQ. EBITDA stood at Rs. 82.3 Cr as against Rs. 75.0 Cr same time last year (growth of 65%) and Rs. 73.1 Cr sequentially. MCL witnessed 80 bps EBITDA margin contraction YoY at 10.6% for the quarter, however it improved by 120 bps on sequential basis on the back of a improvement in gross...
On-track performance; Advances growth continues, NIMs contract DCB Bank reported yet another healthy quarter on the balance sheet front, however profitability was marred by contraction in NIMs. Advances stood at Rs. 22,069 Cr vs Rs. 17,395 Cr in Q2FY18 a growth of 27% YoY. Mortgages, Agri, Corporate and SME+MSME contributed 40%, 19%, 15% and 12% resp. We expect loan growth of 26% CAGR over FY1820E. NIMs came in at 3.83% vs 3.90% QoQ and 4.04% YoY resulting in NII growth of just 14% YoY. NIMs are expected to stabilize in the 3.75-3.85%...
Uflex Ltd. reported a good set of numbers in Q1FY19. Sales for the quarter increase by 17.4% YoY to Rs 1904.9 Cr. During the quarter, the company witnessed a strong overall sales volume growth of 14.9% YoY, with packaging business volumes growing 11% and film volumes growing at 15.9% YoY. The management has maintained its guidance for double digit overall sales volumes growth in FY19 with improved margins of 15%, given the stability in crude prices. EBITDA margins saw a dip from 14.3% in Q1FY18 to 13% in Q1FY19 and remained flat on a QoQ basis. The negative impact on EBITDA margins was primarily...
Mixed bag Revenue growth robust; margins disappoint Revenue from operations for the company grew by 34% YoY to Rs. 778 Cr vs Rs. 582 Cr in Q1FY18 and Rs. 721 Cr in Q4FY18 (up 8%). EBITDA stood at Rs. 73.1 Cr as against Rs. 44.3 Cr same time last year (growth of 65%) and Rs. 81.8 Cr sequentially. MCL witnessed 180 bps EBITDA margin expansion YoY at 9.4% for the quarter, however it declined by 200 bps on sequential basis on the back of a steep increase in raw material costs. Net profit came at Rs. 37.6 Cr vs Rs. 24.6 Cr same time last year, growth of 53%....
