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SAMHI IN reported a miss at operating level with EBITDA margin of 33.2% (PLe 34.7%) as revenue growth in May-25 dropped to mid-single digit due to geopolitical events. However, recovery was swift in June-25 with same-store RevPAR registering a growth of 10.3% YoY to Rs4,760 in 1QFY26. We expect top-line CAGR of 13% over the next 2 years led by addition of 245 keys with an EBITDA margin of 37.5%/38.8% in FY26E/FY27E. After the fund infusion by GIC...
Amidst the subdued demand environment, Cera Sanitaryware reported a stable performance. Revenue grew 5.4% y/y to Rs4.2bn, largely supported by faucets as sanitaryware revenue was flat.
CROMPTON's ECD segment gained market share in its core categories, despite overall industry decline. TPW fans, coolers, and agri and residential pumps reported a decline in sales, while solar pumps delivered 2x revenue growth and small domestic appliances registered double-digit growth. Lighting segment reported flat growth, despite industry slowdown, and its EBIT margin expanded by 380bps due to improved product mix and operational efficiencies. Butterfly business reported a moderate quarter, while the management has guided for double-digit growth in FY26. CROMPTON has amended its MoA to...
NCC has a strong orderbook at INR 701bn with book-to-bill ratio of 3.7x TTM revenue – one of the highest in the industry. It has already bagged orders worth INR 65bn in FY26-YTD with guidance of INR 220bn OI for FY26.
Awfis Space Solutions (Awfis) delivered a strong quarter with Q2FY26 revenue growing 26% YoY while IGAAP EBITDA of INR 520mn grew 18% YoY and mature centre occupancy at 84%.
Indiqube Spaces Ltd. (Indiqube) delivered a strong Q2FY26 on the back of a 600bps YoY and 200bps QoQ increase in overall occupancy to 87%. Heading into FY26, management remains confident of growth momentum sustaining, led by large deal wins in Bengaluru and Hyderabad during the quarter.
KNR Constructions reported a sharp slowdown in execution, with consolidated revenue declining 38% YoY to Rs6bn and standalone revenue falling 45% YoY to Rs5bn, as most legacy projects neared completion and newly awarded contracts were still ramping up. Consolidated EBITDA stood at Rs2bn, translating to a strong margin of 29.9% due to segment mix effects, while standalone EBITDA fell 66% YoY to Rs0.6bn, with margins compressing to 13.6%. Consolidated PAT came in at Rs1bn (PAT margin 20.1%), down 26% YoY, while standalone PAT declined 62% YoY to Rs0.5bn (margin 10.6%). The divergence between...
