Operationally in line; volume trend to improve in FY25 * Emami reported 7% YoY sales growth i...
Lifestyle and Pantaloons drive profitability * ABFRL’s consolidated EBITDA grew 47% YoY ...
Exports growth offset by weak India business Increasing investments in the biosimilars segment...
Earnings below estimates; outlook remains bright Highlights of the 4QFY24 consolidated results...
Healthy beat; promising growth prospect in non-auto Reduced gross debt of INR18b in 4QFY24 de...
All eyes on inventory liquidation; the moat remains unchanged We recently had an interaction ...
Volume growth trajectory to continue * We released our Initiating Coverage (IC) report on Adan...
Standalone businesses fuel operating performance * Reliance Industries (RIL)’s 4QFY24 c...
GSPL: PNGRB's revised tariff order disappoints * Event: On 20th Apr’24, PNGRB issue...
Performance in line; CoP to remain under control * Hindustan Zinc’s (HZ) 4QFY24 revenue...
Near-term outlook weak despite an uptick in Capco Performance under the new CEO is a key monit...
Core performance in line; margins improve QoQ Prudently deploys one-off gains to boost floatin...
Analyst Meet Update: Strategic growth driven by infrastructure expansion Our View MAHGL is ...
An ideal proxy to strong construction demand We initiate coverage on APL Apollo Tubes Ltd (APL...
Aging profitably We initiate coverage on United Spirits Ltd/Diageo India (UNSP) with Rs1,320 t...
Weak same store sales continue to impact profitability Devyani’s 4QFY24 organic business...
Performance broadly in-line; customer conversion key to watch AIA Engineering (AIAE) reported ...
A capital efficient model awaits box-office revival A tough 4Q capped a fluctuating year for P...
Steady quarter; earnings impacted by one-off costs Chalet Hotels (Chalet) reported an inline q...
Sustained weakness; Greenshoots visible Bajaj Electricals’ (BEL) 4QFY24 performance was ...
We have coverage on Kajaria Ceramics Ltd. with a BUY rating on stock. Since our report, the stock...
Refining weakness drags down earnings HPCL’s Q4FY24 SA EBITDA was 11% lower than expecte...
Outperforms peers in Q4; retain BUY BPCL clocked Q4FY24 EBITDA/APAT of Rs92.7/55.7bn – a...
Muted H1 trends lead to rating downgrade to ADD We downgrade Sapphire to ADD (from Buy), on ex...
Swasthfit drives the beat DLPL posted a robust quarter, with revenue growing 11% YoY on the ba...
Record year of pre-sales; traction to continue Targeting 25% growth in bookings for FY25 *...
Healthy volume growth boosts overall performance Demand outlook remains uncertain * BIL&rsquo...
Margin set to improve; upgrade to ADD Result Synopsis IFBI revenue grew 7.9% yoy (9.5% lowe...
Growth and Yield were stronger Stronger-than-expected performance Muthoot’ consolida...
Europe to progress well; Indian operations to remain steady Result Synopsis Tata Steel&rsq...
Strong Defence/Aerospace orderbook to offset weakness in CVs In 4QFY24, Bharat Forge (BHFC) re...
Strong growth in Q4. Looking up for market share gain in Q1 In Q4FY24, Voltas posted revenue o...
Operating deleverage drives earnings miss Westlife’s 4Q and FY24 earnings print was weak...
Distribution expansion to drive outperformance Kajaria Ceramics (KJC), at its Investor meet, o...
PPoP in line; higher write-off drags down earnings Margins expand 40bp QoQ to 7.6% * Bandha...
Sales growth/better operating leverage drive earnings Aims to outperform industry; cost contro...
Healthy volume growth boosts overall performance Demand outlook remains uncertain * B...
Strong growth aided by opening of new malls Beat on revenue led by the residential segment; E...
Volume growth to be robust, driven by domestic cargo Revenue in line; EBITDA below estimate ...
Subscriber loss slows down Capex of INR500-550b over the three years to support network upgrad...
Niche products, superior execution boost earnings Levers in place to improve business prospect...
One-offs mar 4QFY24; robust guidance maintained * GAIL reported an EBITDA of INR36b in 4...
Operating performance in line; outlook bright * JSW Steel (JSTL) posted a consolidated ...
Expect margin pressure in the near-term… LT Foods Ltd. (LTF) is a global consumer speci...
Margins to improve going forward. Avanti Feeds Ltd. (AFL) is a leading manufacturer of shrimp...
In-line performance; New product cycle focused on driving mkt. share During 4QFY24, EBITDAM fo...
Steady show; credible EV strategy at play In 4QFY24, TVS Motor (TVSL) reported EBITDA margin o...
Staging a comeback DLPL’s management commentary struck a bullish tone, anticipating doub...