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Lighting was flat in Q4FY25 with single digit growth in Consumer lighting offset by degrowth in professional lighting. CP segment grew 8.4% YoY (accounted for 79% revenue), with strong growth across all products segment except fans which grew in low single digits in Q4FY25. Expansion in CP EBIT margin was supported by volume growth as well as gross margin expansion. Lighting revenue was flat, impacted by a decline in the professional lighting due to delays in order execution. BJE has...
Prudent Corporate Advisory (Prudent) posted an op. revenue of INR2.8b, +18% YoY (in line) in 4QFY25. Revenue growth was fueled by an 18% YoY jump in commission & fees income to INR2.8b. For FY25, operating revenue grew 37% YoY to INR11b.
Novelis’ Q4FY25 performance was in line with our estimates. Operating leverage benefits resulted in EBITDA/te rebounding to USD 494, sales volume rose 6% QoQ as beverage can market remains strong.
Axis Bank reported a steady Q4FY25, with financial growth driven by robust retail and digital performance, improved asset quality, and disciplined cost management. The bank's investments in technology and branch expansion are expected to drive customer growth and enhance overall performance. Axis Bank's asset quality remains a key strength, with one of the lowest NPA ratios among large private banks, supported by strong provision coverage and declining slippage rates. Additionally, Axis Bank is expected to sustain healthy credit growth, supported by a...
4Q25 volume growth ~6%; No further price hikes expected BRIT has sustained 6% volume growth in 4Q while EBIDTA margins are down 20bps as 140bps gain from lower RM costs have neutralized by higher manpower costs (Stock options writeback in 3Q25). FY26 outlook seems promising as an expected uptick in consumer demand and peaked out input costs will drive profitability. We remain positive on BRIT given 1) Sustained leadership in Biscuits and Bakery (volume growth of 8/6/6% in 2Q/3Q/4Q25)...
PIDI continues strong UVG at 9.8% in 4Q, and 160bps gross margin expansion given benign input costs. PIDI continues to focus on strong volume-led profitable growth led by its strategy of developing pioneer categories and entering newer segments. B2B continued its growth momentum driven by Industrial & Project verticals whereas B2C improved sequentially. IBD has witnessed a flattish sale while maintaining stable margins. PIDI is open to exploring tie ups and entry in segments like adhesives or specialty chemicals for EV/Semiconductor or electronic manufacturing, however it is long haul...
Alkyl Amines Chemicals (AACL)’s 4QFY25 revenue increased 8% YoY to INR3.9b. The growth was mainly volume-driven, though the company continues to face pricing pressure.
