New Research Reports

HMIL, we believe, is getting product aggressive and its launch intensity is expected to gain momentum over the medium term. Key whitespaces in its product portfolio (compact E-SUV, off-roader SUV, hybrids, MPV) are likely to be addressed over FY27–30.

In Q4FY26, the company's consolidated revenue rose 4.7% YoY to Rs. 6,855cr. Net sales, excluding excise duty, increased 3.7% YoY to Rs. 3,054cr, driven by resilient premium portfolio growth, a favourable price/mix and broad-based strength outside...

Adani Energy Solutions Limited (AESL) has acquired a 100% equity stake in IntelliSmart Infrastructure Private Limited for INR 3,050 crore.

The company’s key business segment, Powergen, continues to benefit from strong industry tailwinds on both non-HHP and HHP sides. A strong installed base, a wide product portfolio and higher geographical penetration continue to provide a stable stream of distribution revenue.

About the stock: LTM Ltd, (erstwhile LTIMindtree) is the merged entity formed after the merger of erstwhile Mindtree with LTI. It caters to BFSI, Manufacturing, Retail, Health, Media & Hi-tech. LTM at its investor day, unveiled its long-term roadmap under Lakshya 2031, outlining a strategic pivot toward AI-enabled business transformation and outcome-based delivery. The company articulated ambitions of doubling revenue over FY2631 while expanding margins by 200 bps, supported by AI-led services,...

The group plans to increase capex from INR1.5t in FY26 to INR7-8t by FY30, with scope to reach INR10t. Management emphasized that investments will remain disciplined, with each business pursuing projects that generate returns above the cost of capital.

LTM targets 2x revenue growth over FY26-31, i.e., a 15% CAGR vs. 6% YoY growth in FY26 and a 12% CAGR delivered over FY21-26—an ambitious target amid current sector headwinds.

Target doubling USD rev. & EBIT margin expansion by FY31 Expects AI to expand TAM to USD 2.3 tn despite deflation We attended LTM's Analyst Day, the company outlined a five-year strategic roadmap centred on AI-led business transformation, with management targeting a doubling of USD rev. by FY31 (implying ~15% USD revenue CAGR) and a 200bps EBIT margins expansion. The strategy is anchored on three pillars; Invest for (1) Growth, (2) Pivot and (3) Excellence. (1) Growth is expected to be driven by capturing addressable revenue (Platform-oriented and Business-AI-led services), reimagined horizontal service lines,...

Q4FY26 Performance: Siemens limited reported Q4FY26 performance with revenue rising 14.6% YoY and 20.5% QoQ to 4,617.5 crore, driven by robust execution across Smart Infrastructure, Digital Industries and Mobility businesses. EBITDA remained largely flat YoY at 443.9 crore (+5.2% QoQ), while EBITDA margin declined 140 bps YoY to 9.6% due to higher material costs and weaker segment profitability in Smart Infrastructure. PAT declined 9.6% YoY to 355.2...

Double-digit volume growth expected to continue. Premiumisation supporting revenue growth. New capacity additions to support demand. Distribution expansion to drive market share gains.

The company reported strong order momentum with inflows of ~Rs67bn (inc Rs18bn order for bogies from parent) in Q6FY26 and a record backlog of ~Rs450bn Strong mobility execution led by the 9K HP locomotive programme; 40 locomotives dispatched, with ramp-up...

Cummins India (KKC) delivered performance in Q4FY26 which surpassed our expectations. Revenue, EBITDA and PAT grew by 22%, 22% and 23% respectively on YoY basis. Demand continues to be healthy emanating from verticals such as Quick Commerce, Manufacturing, Real Estate and Data Centres for the PowerGen segment. KKC also clocked in steady gross margin of ~36% for the quarter. Although domestic demand looks steady, the outlook on exports remains uncertain especially amid the geopolitical tensions in the Middle East. The management also mentioned that they expect moderate growth in FY27...

Siemens’ results for the quarter and full year stood largely in line with our estimates, adjusted for the sale of the LVM business.

We expect the company to grow its Revenue/EBITDA/PAT at a CAGR of 15.3% / 20% / 18.2% for the period of FY26-FY28.

About the stock: Incorporated in 1959, Torrent remains a key play in branded generics (~75% of sales) with strong India franchise and growing exports traction. While Branded franchisee comprises of India, Brazil and some export markets, the...

*over or under performance to benchmark index Pidilite Industries is a pioneer in the adhesives, sealants and construction chemicals business. The company serves the consumer and industrial segments with innovative solutions, such as its renowned flagship brand, Fevicol. It has a strong presence in...

Total sales of petroleum products rose 3.6% YoY (-1.7% QoQ) to 14.21 million metric tonne (MMT) in Q4FY26. Domestic sales increased 3.3% YoY to 13.86 MMT and exports grew 16.7% YoY to 0.35 MMT. Refinery throughput, including at the...

Indian Oil Corporation Ltd (IOCL) manufactures petroleum and petroleum products and is also engaged in the exploration and refining of crude oil. Its products include lubricating oils, liquid petroleum gas and aviation turbine fuel. IOCL's presence...

Indian Hotels Company Limited (IHCL), incorporated in 1902, is one of the country's leading hospitality companies. Tata Sons holds a 38.2% stake in IHCL, which has a vast geographical presence and owns leading brands such as Taj, Ginger and Vivanta. At the...