Sales at INR 785 cr grew by 33% YoY and were ahead of our expectations of a 24% growth YoY.
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|Summary||Date||Stock||Broker||LTP||Target||Price at reco|
Change since reco(%)
|2018-09-04||Shankara Building Pr..||Edelweiss||423.00||2002.00||1550.15 (-72.71%)||Buy|
|2018-11-01||Arvind Ltd.||Motilal Oswal||86.85||397.00||345.70 (-74.88%)||Neutral|
|2018-08-07||I G Petrochemicals L..||BP Wealth||306.00||1117.00||539.95 (-43.33%)||Buy|
mainly due to favorable PAN/OX spread. During Q1FY19, production of PAN volume has shown 8.1% growth on the sequential basis from 37,000 in Q4FY18 to 40,000 in Q1.On a sequential basis EBITDA margin shown solid improvement (20.4% in Q4FY18) due to the higher gross margin of 35.5% com- Sector Outlook...
|2018-08-16||Bhansali Engineering..||Prabhudas Lilladhar||70.85||246.00||137.10 (-48.32%)||247.21||Buy|
Bhansali Engineering Polymers (BEPL) recently informed the stock exchange that they have decided to continue with expansion of its compounding capacities at Abu road from 100 KTPA to 137 KTPA which will be operational by March 2019. The entailed capex is ~Rs 300mn. In this connection, plant and machinery have been received at Abu Road Unit and its installation will commence in due course to meet the time lines. The Satnoor plant is operating properly and it will be possible to attain and maintain the level of production as it was before the fire. Management is confident of sustaining 20% volume growth. In our estimates,...
|2018-08-07||Suzlon Energy Ltd.||KRChoksey||6.75||15.00||7.40 (-8.78%)||122.22||Buy|
Suzlon reported revenue a fall of 50.5% YoY to INR 12.8bn against our estimates of INR 16.05bn. The subdued growth is on account of lower than estimated execution, which was 155MW against our estimates of 200MW. There was solar revenue in Q1FY18, which was not the case in Q1FY19 and hence other revenues declined from INR 3.31bn in Q1FY18 to INR 0.27bn. EBITDA excl fx remained at INR 77cr against INR 475cr in Q1FY18 due to poor executions which impacted operational performance of WTG segment. WTG segment reported EBITA loss of INR 3.85bn against a profit of INR 2.1 bn in Q1FY18....
|2018-08-13||Skipper Ltd.||Reliance Securities||68.50||214.00||121.35 (-43.55%)||212.41||Buy|
Skipper's EBITDA declined by 12.9% YoY to Rs450mn, while its EBITDA margin contracted by 355bps YoY to 9.4% led by fall in polymer margin to 1.2% in 1QFY19 (from 9.3% in 1QFY18) owing to execution of fixed-value engineering projects. Fall in Polymer market is attributable to increasing penetration cost in newer markets owing to increased brand building spend and dealer incentives. Skipper's PAT declined by 72% YoY to Rs45mn owing to 62% YoY rise in interest cost to Rs274mn on account of high inventory built-up led by subsequent supply...
|2018-08-10||J Kumar Infraproject..||Dolat Capital||156.20||448.00||228.00 (-31.49%)||186.81||Buy|
J Kumar Infra
at standalone as per Ind AS 111 primarily from Delhi metro project. EBITDA margin up 89bps YoY to 16.2% (95bps below estimate) led by lower employee costs and other expenses which was partially offset by rise in raw material cost. PAT grew sharply 55.7% YoY to `402mn driven by better...
|2018-08-20||Vascon Engineers Ltd.||Kotak Securities||15.55||48.00||30.40 (-48.85%)||208.68||Buy|
Net revenue for the quarter grew at 15.4% yoy to Rs 939 mn driven by 19.8% yoy growth in EPC business at Rs 835 mn while real estate revenue declined by 11.2% yoy to Rs 104 mn. Adjusted for Ind AS 115 impact, the revenue from real estate segment grew by 78% yoy to Rs 208.5 mn. EBITDA margins for the quarter also declined by 110 bps yoy on account of loss reported in the real estate segment due to higher fixed cost to market launch pipeline, lower revenue recognition due to accounting changes and losses recognized in Windermere sale....
|2018-10-03||Bhansali Engineering..||Prabhudas Lilladhar||70.85||246.00||129.45 (-45.27%)||247.21||Buy|
Capacity to be expanded to 137,000 TPA by March 2019 and for FY19 the output likely to be 75,000 TPA and for next year FY20 minimum they will achieve output of 100,000 to 120,000 TPA. General and specialty grade to roughly be in equal proportions and there will...
|2018-08-17||Prabhat Dairy Ltd.||Religare||79.65||194.00||154.75 (-48.53%)||143.57||Buy|
Prabhat Dairy Ltd (PDL) reported healthy set of numbers for Q1FY19, in line with our expectation. Its revenue grew by 7.3% yoy on back of strong volume growth across various products. Its EBITDA and PAT grew by 14.5% and 90.1% yoy, respectively driven by lower input cost, lower interest and tax expense. Further both EBITDA and PAT margins improved by 53 bps and 125 bps yoy.