Accumulate Dynamatic Technologies Ltd For Target Rs.2,613.00 - Emkay

GST implementation mars performance

Result highlights

* Dynamatic Technologies (DYTC) has reported lower-than-expected operational performance. Revenue declined by 20% yoy. EBIDTAM declined by 530bps yoy and the company reported a loss of Rs95mn.

* The destocking by end customers in the run-up to the GST implementa

5/10/2017 4:02:47 PM | Posted in Broking Firm Views - Long Term Report read full news
Buy Strides Shasun Ltd For Target Rs.1,300.00 - Motilal Oswal

Niche approval kicks in

Thesis playing out; reiterate Buy

* The approval for Potassium Citrate Extended Release (PCER) has triggered longawaited approvals for niche molecules for STR, in our view.

* Though investors like STR for its (1) niche ANDA pipeline, (2) strong regulatory compliance, and (3) credible manage

5/10/2017 3:58:52 PM | Posted in Broking Firm Views - Long Term Report read full news
Buy Orient Refractories Ltd For Target Rs.183.00 - Emkay

Strong performance on export front; capex to accelerate growth

* At Rs1.41bn, Orient Refractories’ Q1FY18 revenue was marginally below our estimate of Rs1.49bn due to GST transition. Export revenue jumped 20% yoy (Contr. 22% to revenue v/s 20% in Q1FY17) while Domestic business delivered 4% yoy growth.

* EBITDA also missed our estimate

5/10/2017 3:53:56 PM | Posted in Broking Firm Views - Long Term Report read full news
Buy Coal India Ltd For Target Rs.316.00 - Motilal Oswal

Dragged by operating leverage

Many concerns still remain; Maintain Buy

* Coal India’s (COAL) 1QFY18 revenue rose 3.4% YoY to INR184b, driven by 3.6% growth in off-take. Average revenue was unchanged YoY, in line with estimates. However, there was a miss at average realization by 1% (-3% YoY) for FSA and by 7% (+1% YoY)

5/10/2017 3:38:24 PM | Posted in Broking Firm Views - Long Term Report read full news
Buy Future Lifestyle Fashions Ltd For Target Rs.495.00 - Emkay

Strong SSG drives growth; Maintain BUY

* Revenues ahead of our estimates led by strong SSG – Revenue at Rs 10.3bn, up 29% yoy; EBITDA down 90bps at 8.3%; EBITDA at Rs 853mn, up 16% yoy; Lower interest burden (-25% yoy) boosts APAT by 29% yoy to Rs 235mn

* Central SSG at 31.1%, Brand Factory SSG at 31.2%, while overall FLFL SSG at 29.4%.

5/10/2017 12:29:41 PM | Posted in Broking Firm Views - Long Term Report read full news
Buy Larsen and Toubro Ltd For Target Rs.1,380.00 - Motilal Oswal

Strong momentum seen in domestic infrastructure spending

Digitalization a key focus area

* We hosted Mr SN Subrahmanyan, MD and CEO of Larsen & Toubro as part of CEO Track at our 13th Annual Global Investor Conference. Key takeaways from his presentation:

* Strong momentum being witnessed across domestic infras

5/10/2017 12:24:16 PM | Posted in Broking Firm Views - Long Term Report read full news
Buy Advanced Enzyme Technologies Ltd For Target Rs.333.00 - Emkay

Underperformance continues; Maintain BUY on favorable outlook

* Advanced Enzyme (ADVENZY) reported disappointing numbers on all the fronts. The company’s revenue stood at Rs802mn (down 17% yoy), significantly below our estimate, dragged by the dismal performance of top account in Human Nutraceuticals segment.

* Barring the Food segment

5/10/2017 12:19:17 PM | Posted in Broking Firm Views - Long Term Report read full news
Neutral Parag Milk Food Ltd For Target Rs.245.00 - Motilal Oswal

Sales in-line; Medium-term target unchanged

* PARAG reported net sales growth of 7.7% YoY (est. of +6%) to INR4.1b in 1QFY18. EBITDA declined 7.7% YoY (est. of -18.7%) to INR294m, while adj. PAT grew 3% YoY (est. of -24.3%) to INR105m. Sales in 1QFY18 were impacted by destocking (majorly in the last 15 days of June), farmer strike in M

5/10/2017 12:14:37 PM | Posted in Broking Firm Views - Long Term Report read full news