Latest broker research reports
with
buy recommendations along with share price targets forecast and upside.
Browse thousands of reports and search by company.
Broker Research reports: Buy reports
for all stocks
Revenue growth of 5% YoY was in line with estimates and is likely to improve in coming quarters. Margins witnessed a decline on YoY basis but improved significantly from Q4FY18 which was impacted by write offs. Borrowings have declined sequentially after company raised Rs 4 bn via QIP and Rs 500 mn via issue of warrants to promoters. Order inflow stood at Rs 7.4 bn for Q1FY19 with closing order book of Rs 178 bn. Based on healthy traction in order inflows, company expects 40% YoY revenue...
Marching Towards a New Era of Development: Jain Irrigation System Limited has posted a consolidated revenue growth of 24.4% to Rs. 20920 Mn on YoY basis in Q1FY19 as against our estimate of Rs. 22607 Mn having registered positive growth of 16.6% in Hi-tech Agri Input Products Division, 15.0% in Plastics Division, 39.2% in Agro Processing Division and 35.3% in Other Division on YoY basis.
Revenue Exceeds Our Estimate: Talbros reported revenue of Rs. 1232 Mn during Q1FY19, up by 37.7% YoY mainly driven by the forgings segment which grew by 109% YoY reporting Rs. 420 Mn. The order book for forgings stand at Rs.1600 Mn as on FY18 constituting a majorportion from exports.
Mayur Uniquoters (MUL) is one of the largest manufacturers of artificial leather/PVC vinyl in India with ~37million meters (mm) annual capacity and ~8% domestic market share.
J Kumar Infraprojects (JKIL) in Q1FY19 posted revenues of Rs. 618 Cr due to strong execution of Mumbai Metro and JNPT projects. The EBITDA margins improved to 16.2% which increased 90 bps YoY in Q1FY19 with near completion of DMRC project.
PPAP Automotive (PPAP) in Q1FY19 posted consolidated revenues of Rs. 99.7 Cr. (up 21% YoY, -22% QoQ) with its core Part Sales driving a26% YoY growth). Despite drop in GMs (on account of surge in RM costs) the company maintained its 20% EBITDA Margin mark in Q1FY19, 80bps YoY expansion.
Sector: Auto-ancillary /Mid-Cap | Earnings Update 1QFY19 Background: Greaves Cotton (GCL) is one of the largest manufacturers (primarily) single cylinder (diesel, gasoline engines) and dual cyli nder engines, which find application in running 3-W vehicles and 4-W small commercial vehicles (SCVs). Over the years, GCL has been able to command an overall 3W auto segment share at about 35% in FY08-14, second only to Bajaj Auto (that has in-house engine manufacturing). In the 3W goods segment (sub 1-tonne category), GCL commands a dominating position of 80-90% share as the market leader OEM i.e. Piaggio (single largest client of GCL) sells the highest 3W goods carrier in the domestic market. Auto segment comprises 55-60% of overall revenues. GCL has more than 3,500 dealer network....
Legacy stressed provisions done; profitability set to improve Magma Fincorp (Magma) recorded a healthy performance in a seasonally weak quarter with PAT of INR 681mn (up 75% YoY) on IndAS basis. Magma has adjusted one-time provisions of INR 6.2bn with its net worth (of which c.INR 3bn is on account of legacy stressed loans originated prior to Dec'15). This will substantially reduce provisions going forward and boost RoEs to 14-16% range. Key highlights: i) GNPL ratio reduced to 9.5% (vs. 11.7% in 1QFY19) while coverage ratio strengthened to 56% vs. 43% YoY. ii) Disbursement growth remained strong (25% YoY) driven by used assets, commercial vehicles and SME. iii) Margins...
