Rudra Shares and Stock Brokers Ltd Broker Research reports

It has kicked off FY20 on an optimistic note by registering sturdy double-digit growth in its operating metrics led by store addition and improvement in gross margin. The profit grew 31.87 % to ` 323.06 crore and the revenue soared 27% to ` 5814.6 crore. EBITDA surged 39.17 % Y-o-Y to `607.71 crore with margin came in at 10.45 %, owing to better operational efficiency despite growing concerns over pricing pressure and competitive intensity. The Net Profit Margin is at 5.56%, higher than 5.35 % a year ago and ahead of...

As expected, Bank delivered good set of numbers, with consolidated PAT rising 38% for the quarter. Alongside strong balance sheet growth, Advances grew 28.4%, 25% growth levels guided ahead. Both corporate & consumer finance loan book grew handsome at 20%. Management is in line with its stated planning cycle 4(2017-2020). Giving guidance of 25-30% loan growth, it stood at 28% during Q1. At a current branch network of 1700, bank intends to strength its retail presence & targets to reach 2000 branches within the stipulated time by 2020. NIM's stood at 4.05% higher by 13bps...

In 2018, it suffered from extra provisioning on account of income tax and interest. However, from Q4 CY 18, most issues have been settled down and delivered vigorous Q1 CY19 results. Forthcoming, it expects top line to grow at 10-12 % and likely to see 60-80 Bps ramp up in operating margin in the next two years. But, the margin growth depends on upcoming monsoon, scenario of FMCG sector and volatility in crude oil prices. Increasing capacity utilization to a maximum of 80-85 %, improving demand for flexible packaging, and NASP initiatives would enable to...

Company has developed a unique business model where synergies and diversities can be mutually inherent, build financial strength, generate free cash flow and invest in growth, both in India and globally. Company's expansion into new states and addition of manufacturing capacity to produce multiple grades of NPK will open new avenues for growth in future. Further, its continued innovations and initiatives in the space of specialty and water soluble fertilizers coincide with megatrend of water shortage and need of balanced fertilization for the country are expected to bring positive results to the farming sector as...

By virtue of being leading player in the domestic market, ESAB India has been able to manage volatility and its impact arising from its major raw material (steel). With ability to produce consistent positive cash flows, stable profitability, mingled with healthy asset turnover ratio, huge cash & investments balance enables it to price competitively to gain market share going forward. Therefore, the company has plenty of headroom to grow. Apart from the welding business, ESAB India provides its support service activities out of India in the areas of R&D; and shared services for other subsidiaries of Colfax around the world. Looking ahead,...

Bank continues to enjoy a strong retail liability franchise with a high share of retail deposits. Healthy traction in fee-based income over the last few quarters mingled with low incremental stress from corporate book should aid overall slippages & augers well for company, going forward. Nonetheless, bank still maintaining cautious stance in growing high-ticket size loans in an unfavorable macro environment & will remain watchful of its Kerala portfolio for any likely volatility in slippages. Moreover, Bank endeavors to continue improvement in return ratios from higher productivity,...

Flagship Company of the Godrej group and has a leadership position in the core business of oleo chemicals. It holds 23.8% stake in Godrej Consumer Products, 53.60% in Godrej Properties (GPL), 58% of Godrej Agrovet (GAVL) and 100% of Natures Basket (NBL). Healthy promoter pedigree in creating shareholder wealth...

Unlike most of the HFCs, the share of IndiaBulls Housing has fallen dramatically from levels of Rs 1400. The fall has largely been on account of the IL&FS; wreck and also on account of the worries surrounding DHFL. Though, India Bulls has often clarified it stating that its liquidity position continues to remain sound (as closed with cash of 21000cr in Q3FY19) and has performed well during the quarter. It has significantly bought down reliance on 3-month CP in the process, thereby ensuring a well matched ALM and durability of liquidity levels. It now counts 21 strong banking relationships - 16 with PSU banks and 5 with private and foreign banks amongst its securitization investors. India bulls has guided the loan growth of 20-25%, Pat growth at...

Marico, being one of India's leading consumer Products Group, in the global beauty and wellness space touches the lives of 1 out of every 3 Indians. Parachute is the leading brand in the Indian cosmetics & toiletries industry and has continued to show volume growth, though Safola growth was disappointing. Marico wants to reduce dependence on Parachute and Saffola by driving new things in the premium segment, like male grooming, serums, hair nourishment and foods are expected to have a significantly higher share in the next five years. Nevertheless,...

EIL will be the direct beneficiary from any structural change in the auto demand owing to its leadership position having 60% market share in the automotive battery and 86% market share in 2W Looking ahead, expect the demand scenario for 2W to remain robust in next couple of years led by increased rural income, higher MSP and new product launches by OEMs. Company is well poised for cyclical uptick in OEM within automotives and inverters and telecom segment within industrial batteries. With an enriched portfolio, consistent focus on innovation, operational efficiencies, distribution network & service delivery, EXIDE is...