Latest stock research reports with share price targets forecast, buy, hold, and sell recommendations along with upside. Search by company or broker name.
During Q4FY25, Dr. Reddy’s revenue stood at INR 85,284 Mn, up 19.9% YoY (+1.8% QoQ), above our estimates by 3.6%, driven by growth across key markets. EBITDA stood at INR 20,747 Mn, up by 14.4% YoY (-8.7% QoQ), below our estimates by 7.0%, led by contraction in gross margins.
During Q4FY25, Asian Paint’s revenue came in at INR 83,589 Mn., down 4.3% YoY (-2.2% QoQ), below our estimates by 3.3%, led by muted demand coupled with downtrading. EBITDA stood at INR 14,362 Mn, down 15.1% YoY (-12.3% QoQ), below our estimates by 19.8%, mainly driven by higher-than-expected other expenses and weaker revenue traction.
COAL reported a strong quarterly performance, with Q4FY25 EBITDA at Rs132.9bn (+2.5% vs Emkay; +17.3% vs consensus). The performance in Q4 profitability is on the back of better-than-expected e-auction premiums, lower employee cost, and lower reversal from stripping activity.
Q4FY25 consolidated revenue of Rs. 37,825 crore was up 1.1% y-o-y. Volume and realization growth were both tepid and almost flat y-o-y. The volume growth has been slow overall due to increase in captive consumption of coal.
Q4FY25 marked a mixed performance from life insurance and lending business but the general insurance business reported weak numbers. Bajaj Finance’s consolidated asset under management (AUM) stood at Rs. 4,16,661 crore, up 26% y-o-y/5% q-o-q.
NII for Q4FY25 grew 22.4% YoY (+4.5% QoQ) to INR 98,072 Mn., which was below our estimates by 3.4%. PPOP stood at INR 79,675 Mn., up 24.3% YoY (+2.1% QoQ), which was below our estimates by 6.0%, led by weaker NII growth and higher other opex. PAT stood at INR 45,456 Mn., up 18.9% YoY (+5.5% QoQ), below our estimates led by higher provisions.
Net Interest Income for Q4FY25 stood at INR 72,836 Mn., up 5.4% YoY (+1.2% QoQ), below our estimates by 1.2% led by lower-than-expected growth in advances. PPOP came in at INR 54,722 Mn., up 0.2% YoY (+5.7% QoQ). Adjusted PAT stood at INR 35,517 Mn., down 14.1% YoY (+7.5% QoQ), in-line with our estimates, despite the provisions being higher (~30%) than our estimate led by lower taxes.
Mahindra & Mahindra’s (M&M) EBITDA margin, at 14.9%, was up ~30bps QoQ (I-Sec est.: 14.3%). Beat in margin was led by FES segment with EBIT margin up 130bps QoQ to 19.4% (I-Sec est.: 17.3%). Auto segment’s EBIT margin was down 50bps QoQ at 9.2%, in-line with our estimate.
MM reported a better-than-expected operating performance in 4QFY25, led by a strong margin beat in the FES segment (at 19.4% vs 17.3% estimated). The QoQ margin improvement was particularly commendable as it came in a seasonally weak quarter.
Net Interest Income (NII) for Q4FY25 increased by 2.7% YoY (+3.2% QoQ) to INR 4,27,746 Mn, in-line with our estimates. PPOP grew by 8.8% YoY (+32.8% QoQ) to INR 3,12,860 Mn., 16.2% above our estimates driven by supported by ~2x QoQ growth in non-interest income.
