Valuations attractive, Maintain Buy
Hindalco India (Standalone + Utkal): 1QFY19 EBITDA increased 15% QoQ toINR18.4b (est. of INR16.7b) led by higher aluminum prices, w..
Apar Industries Ltd.
(Apar) a market leader in conductors and transformer oil, reported its Q1 FY19 numbers, which was below our expectations. The company reported a ..
Gearing up for sustained growth
Apollo Tyres (APTL) is one of the leading tyre manufacturing companies in India with products exported globally to over 100 countries. ..
* PVR has announced the acquisition of SPI Cinemas, its third acquisition till date and thebiggest in terms of deal value. The deal is valued at Rs10.4bn EV wherein: (1) ..
In-line; Higher prices and volumes drive strong perf.
Volume growth accelerating; Maintain Buy
* COAL’s 1QFY19 revenue grew 27% YoY to ~INR243b (est. of..
Strong quarter; Steady outlook
* KNR Construction’s (KNRC) sales increased by 15.7% yoy to ~Rs5.6bn (ahead of our estimate) mainly due to its key projects ..
Exceeds expectations led by strong show by subs; guidance maintained
* Beat estimates on strong show by overseas subsidiaries : Consol. sales grew 3% YoY to INR..
Robust operational performance
* Consolidated revenue surprises positively and stood at Rs 378bn (+28%/+5% yoy/qoq) better than our estimate primarily due to bet..
Non-cotton biz growing from strength to strength
Cotton volumes expected to revive in FY20 post muted FY19
* Minor miss on revenue and EBITDA; PAT in-l..
Demand outlook remains bright; Retain BUY
* Revenue grew by 19% yoy to Rs17.8bn (Emkay Est: Rs16.9bn; Consensus Est: Rs17.2bn), supported by strong growth in bat..
Exhibiting strategy proof points
* Encouraging traction:
ZENT’s 6.6% QoQ growth to USD135m (+2.2% QoQ) was above our estimate of USD129m because of th..
Market share gain on cards
Incorporated in 1988, Wim Plast Ltd (WPL) is a part of ‘Cello’ group. WPL is present in segments like plastic moulded furniture..
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