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|Summary||Date||Stock||Broker||Price at Reco.||Target||Price at reco|
Change since reco(%)
|2015-02-18||Tilaknagar Industrie.. +||Nirmal Bang Institutional||26.35||26.35 (6.64%)|
Nirmal Bang Institutional
Following nil sales in the highly profitable Tamil Nadu (TN) market because of bottling problem and also carving out of a separate Telangana state from Andhra Pradesh (AP), which increased its costs significantly, Tilaknagar Industries (TIL) posted a 81% decline in 3QFY15 operating profit to Rs93mn, 62.9%/69.7% below our/Bloomberg estimates of Rs250mn/Rs306mn, respectively. Excluding VAT (value added tax) refund of Rs223mn, TIL reported Rs232mn net loss against our estimate of Rs24mn net loss. TN and AP account for over 50% of TIL's volume and contribute even larger to its profit. Operating profit declined by Rs329mn/Rs395mn YoY in 2QFY15/3QFY15, respectively, mainly because of volume loss in TN and higher costs in AP....
|2013-06-21||Tilaknagar Industrie.. +||ICICI Securities Limited|