Manpasand Beverages Ltd. share price target and research reports

Name: Latest research reports of Manpasand Beverages Ltd. authored by Motilal Oswal and published by - Trendlyne research reports.
Item: Manpasand Beverages Ltd.
Rating: 1
Author: Motilal Oswal

Latest analyst research reports with target prices and PDF download for MANPASAND, BSE:539207 Manpasand Beverages Ltd.

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Manpasand Beverages Ltd.

31 May 2018

Manpasand Beverages Ltd: Statutory Auditors Resignation

Mgmt Note: Manpasand Beverages Ltd.

Karvy

Statutory Auditors Resignation: The event came up just a week ahead of Q4FY18 earnings release. Thus we put Manpasand Beverages rating UNDER REVIEW from BUY earlier.Deloitte Haskins & Sells, the statutory auditors suddenly resigned with effect from 26th May, 2018 few days ahead of signing off on annual accounts with the reason being non provision of significant Information.

Manpasand Beverages Ltd.

29 May 2018

Manpasand Beverages - Uncertain times; Suspending Coverage - Company Update

Mgmt Note: Manpasand Beverages Ltd.

Religare

Manpasand Beverages announced on May 27, 2018 about the resignation of its statutory auditor (M/s. Deloitte Haskins & Sells, Chartered Accountants) with effect from May 26, 2018. However, the reason for this abrupt exit has not been provided by the company. Subsequently, the company also announced the appointment of new auditors (M/s. Mehra Goel & Co) and has delayed the board meeting scheduled on May 30th, 2018.

Manpasand Beverages Ltd.

29 May 2018

Event Update:Manpasand Bever.

Mgmt Note: Manpasand Beverages Ltd.

Axis Direct

Statutory Auditor resignation leads us to put rating UNDER REVIEW. As a result, we put our rating UNDER REVIEW until clarity emerges from Q4FY18 results and further disclosures in FY2018 Annual Report.

Manpasand Beverages Ltd.

28 May 2018

Sta tutory auditor Deloitte Haskins & Sells resigns

Sell: Manpasand Beverages Ltd.

Motilal Oswal

28 May 2018 Deloitte Haskins & Sells was the statutory auditor of MANB since FY11. The auditor resigned four days prior to the scheduled 4QFY18 result announcement and stated the following reason, We This event has come as a surprise, just ahead of the earnings release. We will wait for the 4QFY18 results and further disclosures.

Manpasand Beverages Ltd.

20 Apr 2018

Initiating Coverage:Manpasand Bever.

Buy: Manpasand Beverages Ltd.

Axis Direct

Deepening Distribution Parle Products tie up a kicker, MANBs Growing Market Share, Robust Financial Growth to continue over FY17-20E, MANB sweetly positioned in the Non-Carbonates/ Juice Drinks segment which is growing at 2x of Carbonates

Manpasand Beverages Ltd.

19 Apr 2018

Initiating Coverage:Manpasand Bever.

Buy: Manpasand Beverages Ltd.

Axis Direct

Manpasand Beverages Ltd.

14 Feb 2018

Manpasand Beverages Ltd: Strategic Synergies in FMCG Sector ... (Feb 14, 2018)

Buy: Manpasand Beverages Ltd.

Karvy

Strategic Synergies in FMCG Sector to Augur Revenue: Manpasand Beverages has registered a 65.7% increase in its bottom line in Q3FY18. Revenues have grown by 39.7% due to growth in both its flagship brand Mango Sip and Fruits Up. Revenue is expected to grow at a CAGR of 36.5% over 2 years and margins are expected to strengthen on declining sugar prices, increasing distribution channelsand capacity utilization.

Manpasand Beverages Ltd.

01 Feb 2018

Manpasand Beverages - Q3FY18 Result Update - Steady quarter; promising future

Buy: Manpasand Beverages Ltd.

Target

Religare

Manpasand Beverages reported steady Q3FY18 result with Net sales and Net profit growth of 39.7% and 65.4% on yoy basis. Operational margin was impacted by surge in material cost and higher promotional expenses; however PAT improvement was supported by lower depreciation cost.

Manpasand Beverages Ltd.

31 Jan 2018

Manpasand Beverages: Distribution network expansion on track

Buy: Manpasand Beverages Ltd.

Target

Motilal Oswal

MANB's 3QFY18 revenue increased 39.7% YoY on a like-to-like basis (after netting off excise of INR37m from revenue of 3QFY17) to INR1,431m (est. of INR1,393m). EBITDA margin shrunk 130bp YoY to 18.7% (est. of 18%) in 3QFY18, led by an increase in raw materials cost (+250bp to 60.8% of net sales). However, other expense and employee cost declined 60bp and 40bp YoY to 16.3% and 4.3%, respectively. EBITDA grew 30% YoY to INR267m (est. of INR251m) in 3QFY18. Accordingly, adj. PAT grew 65.5% YoY from INR72m to INR120m (est. of INR103m).

Manpasand Beverages Ltd.

17 Nov 2017

Result Update Q2FY18 Manpasand Beverages

Buy: Manpasand Beverages Ltd.

Religare

Manpasand Beverages reported Q2FY18 sales growth below our estimates. Net sales increased by 22.8%, however, Net profit was up by 65.6% on yoy basis. It is on track to doubling its capacity in the next 12-15 months. A new plant in Vadodara is expected to become operational in December 2017, while other two plants in Varanasi and Sri City are expected to become operational in FY19E. It is also adding line to its existing plants to meet the demand during peak period.

Is Manpasand Beverages Ltd. worth buying?

282 Votes:

Buy 71.63%

Sell 18.44%

Hold 9.93%