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||459.90||2002.00||1550.15 (-70.33%)||Buy|
|2018-11-16||I G Petrochemicals L..||BP Wealth||230.40||955.00||437.00 (-47.28%)||Buy|
|2018-10-03||Bhansali Engineering..||Prabhudas Lilladhar||60.20||246.00||129.45 (-53.50%)||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...
|2018-09-08||Jindal Stainless Ltd.||Ventura||31.80||127.00||64.65 (-50.81%)||Buy|
|2018-08-16||Bhansali Engineering..||Prabhudas Lilladhar||60.20||246.00||137.10 (-56.09%)||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,...
|2018-09-14||Reliance Home Financ..||Chola Wealth Direct||24.80||91.00||64.85 (-61.76%)||Buy|
|2018-09-12||Reliance Capital Ltd.||ICICI Securities Limited||144.95||525.00||414.20 (-65.00%)||Buy|
ICICI Securities Limited
ICICI Securities Ltd | Retail Equity Research Reliance Capital reported slightly disappointing results as even with operational businesses being good, the pressure of related group accounts seems to have led to significantly higher ECL provisions (| 442 crore) and MTM on fair value of investments (| 216) crore in last Q1. Networth adjustment also appears to be on the higher side at ~| 5000-6000 crore at least from FY18 base of |16600 crore. Though networth erosion is there led by expected credit loss provisions on...
|2018-11-14||I G Petrochemicals L..||Prabhudas Lilladhar||230.40||810.00||439.70 (-47.60%)||Buy|
We leave the estimates unchanged. IGPL has lined up capex of Rs4bn to set up 50,000MT of PAN and 40,000MT of plasticizers capacity. The capacity additions are on track to be commissioned by H2FY20. We maintain BUY with...
|2018-08-20||Vascon Engineers Ltd.||Kotak Securities||13.95||48.00||30.40 (-54.11%)||244.09||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....
|2018-08-17||Prabhat Dairy Ltd.||Religare||54.50||194.00||154.75 (-64.78%)||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.