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*over or under performance to benchmark index Bharat Heavy Electricals Ltd (BHEL), a public sector entity, is India's largest engineering company. It supplies power plant equipment such as gas turbines, generators, thermal sets, diesel shunters, turbo sets, hydro sets, power transformers, switchgears, circuit breakers and boilers. It also manufactures compressors, valves, rectifiers, pumps, capacitors and oil rigs, and undertakes castings and forgings. BHEL's Q2FY26 revenue increased 14.1% YoY to Rs. 7,512cr, driven by an 18.0%...
EBITDA grew 36.7% YoY to Rs. 443cr, while EDITDA margin improved 170bps to 15.2%. The bottom line stood at Rs. 248cr, up 29.5% YoY. CG Power performed well due to revenue growth, margin expansion and a robust order inflow. Power system continues to lead growth, supported by sustained demand in transmission and distribution (T&D), renewables and the export market. Industrial system's revenue is likely to rise on the execution of railway projects and...
Eternal Limited delivered a strong result driven by strong execution in quick commerce business, a recovery in food delivery segment, and improved efficiency across its restaurant supply operations. EBITDA margins are expected to strengthen over time, aided by operational leverage, and effective cost control. The quick...
ICICI Bank delivered a satisfactory performance in Q2FY26 supported by healthy loan growth and resilient margin, amid a competitive environment. The bank highlighted continued traction across retail and business banking segments. Asset quality was stable, with prudent provisioning and strong capital buffers ensuring balance-sheet resilience. Its strategic focus on risk-calibrated profitable growth...
Transport Corporation of India Ltd. (TCI) is one of the largest integrated players in the organized logistics industry. Key business segments include freight, supply chain, warehousing solutions & shipping services. In Q2FY26, revenue increased by 7.5% YoY, driven by robust growth in Supply Chain Solutions (SCS) at 17.8% YoY and steady performance in...
We expect growth momentum to sustain over the coming quarters, supported by steady demand across regulated markets, scale-up of the Module E facility, and a stronger mix from high-value therapies.
Strong Q2; Margin to expand by 200bps in FY27 Q2FY26 performance: India business grew by 35% YoY driven by mix of volume and price led growth. Volume growth stood at 7% YoY continuing its positive growth trajectory for 10th consecutive quarter. International business grew by 20% YoY on constant currency basis. Inflated copra prices (+113% YoY) and high base led to 814bps YoY decline in gross margins to 42.6%. EBIDTA margins declined by...
Q2FY26- Revenues growth a little subdued but margins strongRevenues grew ~9% YoY to 2556.5 crore driven by both domestic formulations and API exports. Domestic formulations grew 8% YoY to 1019 crore, driven by strong traction in pain management but also had some impact on account of GST rate rationalization. Export APIs grew ~45% to 221 crore. Under exports formulations - Branded exports grew ~2% to 145 crore, Institutional exports de-grew 29% YoY to 79.7 crore and generic exports de-grew 6% YoY to 268 crore. EBITDA grew 23.4% YoY to 545 crore while EBITDA margins grew by 257 bps to 21.3% aided...
About the stock: Mishra Dhatu Nigam (Midhani) is one of the key manufacturers of critical metals such as special steels, super alloys (nickel base, iron base and cobalt base), titanium alloys etc. The company primarily cater to the requirements...
About the stock: Engineers India (EIL), established in 1965, is an Indian public sector Navratna company, primarily present into two segments - Engineering Consultancy and LSTK (Lump Sum Turnkey). EIL's business operations span the hydrocarbon value chain as well as diversified areas of Metallurgy, Infrastructure, Bio Fuels & Green Hydrogen. The company is also present in international markets...
Q2FY26 Performance: PNC Infratech reported a muted performance in Q2FY26, with standalone revenue from operations at 983 crore, down 14.5% YoY, impacted by a weak executable order book as delay in appointed dates in 4 projects impacted...
Granules India appears to be entering a phase of structural recovery, supported by steady progress on regulatory milestones (notably the remediation of Gagillapur) and a 40% incremental formulation capacity expansion at its Genome Valley site, which should meaningfully reduce supply constraints.
About the stock: Apollo Tyres (ATL), is a leading tyre manufacturer, having operations in India & Europe. In India, ATL has substantial presence in TBR (~30% market share) and PCR space (~20% market share). India contributes ~67% of sales Q2FY26 Results: ATL reported healthy performance in Q2'26. Revenues on consolidated basis in Q2FY26 stood at 6,831 crores, up 6% YoY. EBITDA for the quarter stood at 1,021 crore with EBITDA margins at 14.9%, up ~170 bps QoQ. Consequent PAT for Q2FY26 came in at 258 crores, down 13% on YoY basis (include one-time exceptional charge on account of closure of Netherland plant)....
TSL's Indian operations will benefit from capacity expansion and the likely extension of the 12% safeguard duty, supporting domestic prices. Moreover, the EU import-control measures should also aid European steel pricing and strengthen Netherlands performance. On that note, we maintain BUY rating on Tata Steel with SOTP-based target price of 210...
due to adverse commodity prices, unfavorable foreign exchange movement, higher *over or under performance to benchmark index to 11.0% during the quarter. EBITDA margin contracted due to increased cost of...
