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Result Updates | May 21st 2018

KEI Industries Ltd

CMP : 433Target Price : 508

For 4QFY2018, KEI Industries (KEI) posted good set of results, exceeding our expectations on both, top-line as well as bottom-line fronts. Revenues grew by ~39% yoy (above our estimate), however, the company reported flat operating margins. On the bottom-line front, KEI reported growth of ~40% yoy to `50cr on the back of strong top-line g..

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Result Updates | May 21st 2018

Blue Star Ltd

CMP : 754Target Price : 867

For 4QFY2018, Blue Star posted results in-line with our expectations both on top line and bottom-line fronts. The revenue was higher by 7.8% y-o-y and PAT was up 27.4% y-o-y. During the quarter, cooling and the unitary products has been the key performer for the company. Operating margin improved by 87bps on account of lower material cost..

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Result Updates | May 19th 2018

Aditya Birla Capital Ltd

CMP : 148
Target Price : 218

Aditya Birla Capital (ABCL), a financial service provider, continued its robust growth in business operation in 4QFY18 as well. The company’s consolidated revenue increased by 25%yoy and PAT jumped by 91%yoy to `208cr in said quarter. Consistent growth throughout the year took the company’s net profit for the FY18 to `824cr, up by 44%. It..

Result Updates | May 19th 2018

Century Plyboards India Ltd

CMP : 269
Target Price :

For 4QFY2018, Century Plyboards Ltd. (CPIL) underperformed both on the top line and bottom line front. Total revenue for the quarter remained flat at `544cr compared to `526cr for the year ago period. Operating margin contracted by 60bps on account of increase in raw material cost. On the bottom line front, CPIL reported a decline of ~36%..

Result Updates | May 18th 2018

GMM Pfaudler Ltd

CMP : 865
Target Price : 920

For Q4FY2018, GMM Pfaudler (GMM) posted a growth of 11%/14% yoy growth in revenue/ PAT amid ~300 bps margin expansion. The company is seeing good traction from its user industries like agrochemicals, which would drive 15-20% revenue growth in next two years. Outlook and Valuation: We have fine tuned our earnings estimates in view of FY201..

Result Updates | May 14th 2018

ICICI Bank Ltd

CMP : 311
Target Price : 422

ICICI Bank witnessed a flat movement in its core revenue in the 4QFY18. Net interest income just inched up by 1%yoy to `6,022cr. This was due to a decline in advances from overseas branches and a muted movement in advances to corporates. Other income climbed up by 88% primarily due to a one-time income arising from sale of investments. Al..

Result Updates | May 14th 2018

Nilkamal Ltd

CMP : 1,680
Target Price : 2,165

For 4QFY2018, Nilkamal Ltd (NIL) posted results in-line with our expectations on top-line front although, it is slightly down on the bottom line front as standalone revenues grew by ~12% y-o-y. However, operating margin remained flat y-o-y on account of increase in other expenses. On the bottom-line front, NIL reported lower growth of ~5%..

Result Updates | May 14th 2018

Parag Milk Foods Ltd

CMP : 336
Target Price : 410

For Q4FY2018, Parag Milk Foods (PARAG) posted decent performance with 20%/18% yoy growth in revenue/ PAT and decent margin expansion. The company is introducing many new products/ variants and improving its supply chain management which would drive 20%+ earnings growth in next two years. Outlook and Valuation: We have slightly upgraded o..

Result Updates | May 10th 2018

Dewan Housing Finance Corporation Ltd

CMP : 625
Target Price : 740

Dewan Housing Finance (DHFL) posted an impressive operating performance yet again in 4QFY18. The HFC’s business grew in the quarter with a 28% yoy rise in loan book to `91,932 cr. In line with it, AUMs also increased by 33%yoy in the quarter. At the bottom line, the company’s net profit grew by 26%, aided by steady growth of 25% in net in..

Company Updates | May 09th 2018

Mahindra & Mahindra Ltd

CMP : 860
Target Price : 990

Mahindra & Mahindra Ltd (M&M) is an India-based company, operating in nine segments: automotive, farm equipment, IT services, financial services, steel trading & processing, infrastructure, hospitali ty, Systech (comprising automotive components and other related products & services), and Others (comprising logistics, afte..

Company Updates | May 09th 2018

Mahindra & Mahindra Ltd

CMP : 860
Target Price : 990

Mahindra & Mahindra Ltd (M&M) is an India-based company, operating in nine segments: automotive, farm equipment, IT services, financial services, steel trading & processing, infrastructure, hospitali ty, Systech (comprising automotive components and other related products & services), and Others (comprising logistics, afte..

Result Updates | May 07th 2018

Matrimony.com Ltd

CMP : 850
Target Price : 1,016

For 4QFY2018, Matrimony.com Ltd (MCL) posted results in-line with our expectations on both top-line as well as bottom-line fronts. Consolidated revenues grew by ~12% yoy and operating margins were also higher yoy. On the bottomline front, MCL reported growth of ~26% yoy to `17cr on the back of strong topline growth and operating performan..