Downgrades

In Q4FY25, Petronet's consolidated revenue declined 10.7% YoY to Rs. 12,316cr, primarily due to delayed capacity expansion and lower volume processed. The Dahej terminal processed 189 trillion British thermal units (TBTU) of LNG, a 13.7%...

multiple product portfolios. EBITDA margin contracted by 160bps YoY to 13.8%. Volumes in dyes, pigments and polymer additives are encouraging, while the agrochemical demand environment remained challenging. As per management, a volume pick-up is seen across the segments, even though the pricing environment remains subdued due to overcapacity....

Under HealthCo, offline pharmacy revenue grew 16.6% YoY to Rs. 2,084cr as store count rose to 6,626 (vs 6,360 in Q3FY25) and strong private-label sales. Online pharmacy sales grew 22.3% YoY to Rs. 292cr. Apollo got a boost as daily active...

*over or under performance to benchmark index CG Power and Industrial Solutions Ltd manufactures and distributes electrical equipment, such as transformers, reactors and control equipment, as well as industrial motors and pumps and communication systems. CG Power's consolidated revenue for Q4FY25 grew 25.6% YoY to Rs. 2,753cr, led...

*over or under performance to benchmark index driven by higher prices and a favourable product mix. Meanwhile, revenue from the others segment grew 13.7% YoY to Rs. 898cr. EBITDA expanded 5.7% YoY to Rs. 6,548cr, supported by increased revenue. How-...

Author: Vincent K A - Sr. Research Analyst expenditure over the next two years towards capacity expansion, plant modernization (including automation for cost optimization), and enhanced renewable energy initiatives. Management aspires to reach 1000 Xclusive stores across India over the next few...

Over the past 10 years, GALSURF has demonstrated its ability to scale profitably while navigating cyclical and regional challenges.

Quarterly Update Q4FY25

Jubilant Ingrevia is one of the leading players in India supplying chemical intermediates to agrochemical innovators for almost 3 decades. The company is now transitioning to become a CDMO player and has already signed 2 contracts for agro CDMO, one of which is worth USD300mn and will start contributing to revenue from Q4FY26. As highlighted in our previous report, 7 more molecules with pyridine chemistry are expected to go off-patent by 2028, thus making Jubilant a good fit to manufacture them. However, unlike...

PGHH’s strategic pillars that drive growth in the Personal and Healthcare categories are intact. The company holds a dominant ~50% market share in both the Feminine Hygiene and Healthcare categories.