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
ICICI Securities Ltd | Retail Equity Research Sonata Software reported Q1FY19 earnings wherein international IT services revenues grew 3% in constant currency terms on account of higher contribution from IP led revenues. Services dollar revenues grew 1.1% sequentially to $37.8 million on account of currency headwinds mainly due to GBP. Consolidated rupee revenues grew 10% QoQ to | 688.3 crore, with international revenues growing 6.3%...
ICICI Securities Ltd | Retail Equity Research Revenues grew 16.4% YoY to | 7224.2 crore (I-direct estimate: | 7131.4 crore) mainly due to 22% growth in India formulation to | 2152 crore (I-direct estimate: | 2130.5 crore) led by lower base of GST impact in Q1FY18. US sales grew 12.3% YoY to | 2542.2 crore (I-direct estimate: | 2543 crore). Taro's sales remained flat at | 1034.4 crore (I-direct estimate: | 1208.7 crore) EBITDA margins improved 459 bps to 22.2% (I-direct estimate of...
ICICI Securities Ltd | Retail Equity Research Maharashtra Seamless reported healthy set of Q1FY19 numbers. The company reported seamless pipes sales volume of 65114 tonne (down 9% YoY, 10% QoQ). ERW pipe sales came in at 16056 tonne (up 34% YoY, 11% QoQ). Overall, the pipes sales volume came in at 81170 tonne (down 3% YoY, 7% QoQ) Topline for the quarter was at | 607.4 crore (up 35% YoY but down 4% QoQ), broadly in line with our estimate of | 630.4 crore...
Timken India reported stellar Q1FY19 numbers that were above our estimates. Revenues came in strong at | 383.4 crore, up 27.8% YoY. We had estimated ~14% topline growth at | 341 crore Absolute EBITDA increased 40% YoY to | 59.3 crore. EBITDA margins came in at 15.5% vs. 14.1% YoY. Higher EBITDA margins were primarily due to lower other expenses, 18.3% of topline vs. 21.3% in Q1FY18. Gross margins fell ~200 bps YoY. Employee...
Mixed quarter: For 1QFY19, LT Foods Ltd (LTFL's) revenue grew 11.7% YoY largely driven by branded basmati rice segment (up 18%). EBITDA declined 2.1% with margin contraction of 156bps to 11.1%. Benefit of Lower other expenses (-341bps) was offset by higher raw material (+532bps). Lower...
Finolex Industries (FIL) came out with strong operating performance in Q1FY19 led by PVC-EDC spread and strong performance from PVC Pipes & Fittings segment. Revenue increased 13% YoY to Rs8,278mn, EBITDA was up by 48% YoY to Rs1,939mn and adjusted PAT was up 64% YoY to Rs1,312mn owing to higher other income which was up by 255% YoY to Rs137mn. PVC resin volume declined 9% YoY to 68,454MT while PVC pipes & fittings volume rose 8.6% YoY to 77,636MT. We expect its revenue/EPS to grow...
IOCL's Q1FY19 results were a strong beat to our estimates mainly due to higher inventory gain of Rs78.7 bn. Revenue increased 22.8% YoY to Rs1.3tr on the back of higher sales volume and higher prices. EBITDA was up by 142% YoY to Rs125bn and reported PAT grew by 50.2% YoY to Rs68bn. Adjusting to inventory gain, Refinery business has disappointed while marketing business delivered better than expected profits. The company's crude throughput/sales volume increased marginally 0.8%/1.6% YoY to 17.7/22.9mmt. GRM also stood at US$10.21/bbl during Q1FY19 whereas Normalized GRM stood at US$5.18/bbl adjusted to inventory gain and price lag. We are...
Cadila's (CDH) Q1FY19 results were mixed, sales were below by 3.4% while APAT was 9.8% above our expectations. We believe the miss at the margins were purely due to the erosion at gLialda and less off-take of Tamiflu. Sales grew by 29.6% YoY backed by strong growth in US formulations, India and LATAM regions. EBITDA margins were at 18.8% vs our estimates of 22% due to the sales mix. We expect domestic growth to be ahead of industry at 14-15%, while continuous launches in the US business to support growth. CDH plans to acquire 51% stake in Dehradunbased Windlas Healthcare Private Limited (WHPL) which will help ramp up the operations and increase our...
