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We maintain our BUY recommendation on the stock.

Aurobindo Pharma’s Q3FY25 performance was below our expectation due to lower-than-anticipated sales in US while Europe (up 22.7% YoY) and growth markets (up 39.2% YoY) maintained traction. EBITDA margin was 20.4% despite lower gRevlimid sales and INR 600mn cost of Pen-G plant.

Coal India (COAL) reported production of 202mt in 3QFY25, reflecting 2% YoY growth. As a result, total production for 9MFY25 reached 543mt (+2% YoY), while dispatches stood at 556mt (flat YoY). Of the total dispatches, ~85% were supplied to the thermal power industry.

JSW Infrastructure (JSWIL), India’s second largest private port player, is well positioned to capture the opportunities arising from the government of India’s (GoI) thrust on infrastructure spending and privatisation of port terminals.

reliable fan performance in all conditions. CROMPTON is a market leader in fans and residential pumps with leading brand into mixer grinder category. The company is taking price hikes to offset the cost impact due to implementation of BEE 2.0 in Jan'26. we estimate revenue/EBITDA/PAT CAGR of 13.3%/17.6%/21.8% over FY25-27E. The stock is currently trading at 31x/25x FY26/FY27E, there has been no change in our estimates and maintain BUY'...

Pricol reported a weak Q4 with core revenue growth/EBITDA margin (ex-P3L) below our estimate of 9.7%/12.2% amid muted 2W segment revenue (on OBD 2B regulation change), supply chain disruptions, and delayed exports.

CELLO reported ~5% revenue growth in 3QFY25, driven by festive demand in the first half of the quarter. However, this was offset by a slowdown in consumption and discretionary spending later in the quarter.

Go Fashion (GOCOLORS), operating under the brand 'Go Colors', is a pioneer and category leader in the women’s bottom wear market, holding an 8% share of the organized market.

SPRL delivered a healthy ~11% YoY consolidated revenue growth, outpacing the underlying industry’s low-single digit production growth by ~3%, though EBITDA margin at ~20.1% was ~68bps lower than our estimates (dragged by higher other expenses).