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Published on 5/08/2020 6:22:34 PM | Source: Angel Broking Ltd

Quote on 1QFY21 results of Hawkins Cookers Ltd by Amarjeet Maurya, Angel Broking

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Below is the Quote on 1QFY21 results of Hawkins Cookers Ltd by Amarjeet Maurya, AVP - Mid Caps, Angel Broking Ltd

“For 1QFY21, Hawkins Cookers Ltd (HCL) reported results better than our expectations on top-line and bottom-line fronts. HCL’s top-line de-grew by ~29% yoy to Rs101cr. Top-line was negatively impacted due to the nationwide lockdown. However, HCL has seen good traction for kitchenware products (as cooking at home has increased) and expected to remain strong. On the operating front, the company reported margins contraction (down 564bps yoy) mainly due to negative impact of operating leverage. On the bottom-line front, HCL reported de-growth of ~53% yoy to Rs6cr on the back of lower sales and poor operating performance. Going forward, we expect healthy revenue recovery on the back of new product launches, strong brand name and wide distribution network. Hence we are positive on stock with buy rating.”

 

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