Sharekhan Broker Research reports

The power demand in YTDFY25 (till February) is up only 4.4% y-o-y because of the impact of the monsoon this year and weak economic activity. However, with a hot summer expected this year and temperatures expected to rise, power demand should pick-up.

UltraTech Cement has revealed plans to enter the cables & wires sector, backed by a capital expenditure of Rs 1800 crore. The company seeks to broaden its portfolio within the building construction value chain and capitalise on its existing distribution network.

HDFC Life continues guide for 18-20% APE growth and >15% VNB growth in the next couple of quarters. APE growth remained healthy at 20% y-o-y while VNB grew by 14% y-o-y in 9MFY25.

UltraTech Cement’s capacity expansion remains a cornerstone of its growth strategy. By FY25, its cement capacity is projected to reach 182.8 million tonnes (28% of India’s total cement capacity) with plans to scale it to 209 million tonnes by FY27, through both organic and inorganic growth.

Jubilant Foodworks in its analyst meet laid down its FY28 Ambition with focus on the BOLD strategy (Breakthrough technology, Operate with excellence, Lead with purpose and Delicious food).

SRF’s fluorochemicals division shows strong demand with firm pricing. The company is investing Rs. 1,100 crore in less-polluting HFO (fourth generation) for FY28 launch.

Mastek has secured ~$85 million in multiple contracts from a UK public service department to boost Digital, Data and Technology services spread over two years. The company had earlier won a $40 million government services deal during the quarter.

We attended Federal Bank analyst day, where in Mr. K.V.S Manian, the recently appointed MD& CEO, presented its strategy.

Grasim’s standalone EBITDA of Rs. 271 crore fell 48% y-o-y and 17% q-o-q with decline in operating profit of Cellulosic fibres and textile business but mitigated a little by the chemical business.

Aditya Birla Fashion & Retail Limited’s (ABFRL) Q3FY25 performance was driven by festive and wedding demand, leading to better LFL growth of key businesses, while overall demand sentiments continued to be muted.