Way2Wealth Broker Research reports

Blue Star Ltd. (BLUESTAR) reported strong revenue growth of 21% YoY to `12,494.7mn, with the EMPS segment registering growth of 24.2% YoY/25.6% QoQ to `7,835.4mn driven by health order book and strong execution. UCP segment grew 10% YoY to `3,772.1mn in line...

Phillips Carbon Black (PCBL) reported a de-growth of 2% YoY in top-line at `8630mn led by lower revenue in carbon black segment. Sales volume in both rubber carbon black and specialty carbon black segment improved 2-4% YoY however pricing pressure in specialty...

HDFC Ltd. reported robust Q2FY20 results with net profit beating street estimates, boosted by the sale of stake in Gruh Finance & dividends from HDFC Bank. Its net profit rose by 61% YoY to `3,962 Cr in 2QFY20. Loan growth was driven by individual loans growing at 17%, while developer credit slowed to 3%. NIMS remained constant at 3.30% QoQ....

Jyothy Labs Ltd. (Formerly known as Jyothy Laboratories Ltd.) declared its Q2FY20 results recently. The key highlights are as follows: 1. The company reported 8.5% Y-O-Y growth in net sales to `475crs. The Non-HI business grew by 10% Y-O-Y. Volume growth for the quarter was at 8.3% Y-O-Y. 2. EBIDTA expanded by 11% to `79crs Y-O-Y. Reported net profit for the quarter was at...

L&T; Finance Holdings (LTFH) reported steady 2QFY20 on core metrics. LTFH saw good traction in focused business with its focused book growing at 19% YoY led by Rural (24%) & Housing Finance (24%). NIMs+Fees have remained stable at 6.86%. It's asset quality saw improvement YoY with GNPA reducing from 7.1% to 5.98%. It saw earnings...

CCL Products (India) Ltd. (CCL) declared its Q2FY20 results recently. Consolidated net revenues grew by 3% Y-O-Y to `299 crs, impacted by lower realisation. Consolidated EBITDA for Q2FY20 decreased by 19% Y-O-Y basis to `62crs due to higher ad spend. Gross...

Havells India Ltd (HAVELLS) reported muted growth of ~2% YoY and declined ~18% QoQ to `22,327mn due to sluggishness in demand primarily from Real estate, Industrial and Infra segment. ECD segment grew ~15% YoY with gain in market share. Lloyds and LED performance were the...

LIC Housing Finance Ltd (LIC Hsg) Q2FY20 results were in line with the street expectation except for asset quality. Core performance was encouraging with pre-provision operating profit growing 36% YoY aided by Non Interest Income growth of 16% and healthy Cost to Income ratio of ~11%. NIMS improved marginally to 2.42% vs. 2.35% QoQ. The same can be attributed to decline in incremental cost of funding by 20 bps QoQ. However, its...

IndusInd Bank saw robust NII growth of 32% led by moderate loan growth of 21% YoY. Deposit grew at 23% YoY with CASA ratio at 41.5%. Its asset quality for the quarter was maintained (GNPA 2.19% vs 2.15% QoQ) and its credit cost of 18 bps was in line with management guidance for FY20 (Credit Cost ~60-65 bps). It reported 3.4% sequential decline in Q2FY20 profit dented by higher provision. (PCR at 50% vs 43% QoQ). Q2FY20 PAT without accelerated provisions stands at `16.7 bn, up 81% YoY and 16% QoQ. It saw a decline to its exposure to potentially stressed group from 1.9% in 4QFY19 to 1.1% in 2QFY20 and expected to reduce to 0.8% by Oct'19 through repayments....