GHCL Ltd. 19 th September, 2016 BUY
|
|
- Kellie Cole
- 5 years ago
- Views:
Transcription
1 Company Report BROKING DEPOSITORY DISTRIBUTION FINANCIAL ADVISORY GHCL Ltd. 19 th September, 2016 BUY CMP (BSE) Rs Target Price Rs BSE Code Market Cap (Rs Cr.) Week High/Low /95.00 Industry Chemicals Face Value Rs Shares O/S 10 Cr. EPS(TTM) Book Value P/E 8.46 P/B 2.57 Shareholding Pattern GHCL has established itself as a well-diversified group with an ascertained footprint in Chemicals, Textiles and Consumer Products segment. The company has registered decent results for the quarter ending June The standalone revenues grew by 17.56% to Rs crores vs. Rs cr. in the year ago quarter. Operating profit grew at Rs crores as against Rs crores in the corresponding quarter last year; representing growth of 28.25%. The adjusted net profit surged sharply at Rs crore as against Rs crore, depicting a sharp growth of ~37% y-o-y. The inorganic chemical segment revenue grew from Rs.384 crores to Rs. 421 crores which is mainly due to higher Soda Ash volume of tonnes. The margin improvement in the quarter is on account of increased productivity, strong focus on operational efficiency and lower utility cost. The textile segment reported a 30% surge in the revenue at Rs.313 crores from Rs.241 crores during the last year same quarter and the EBITDA has increased significantly by 47% that is to 50 Crores from 34 Crores in Q1 FY2016. This improved performance is contributed by capacity optimization to 81% compared to 76% in the last year quarter. The per meter realization from home textile business has improved from Rs.254 per meter last year same quarter to Rs.293 per meter in Q1FY17. The volume too has increased from 64 lakh meter last year same quarter to 76 lakh meter in Q1FY17. Valuation Research Analyst: Vineeta Mahnot research@hemsecurities.com With cost leadership with stable volumes in the soda ash business, capacity expansion, focus on improving margins of textile business, entry in new markets and adding new products; GHCL growth prospects looks promising. We believe the company is trading at an attractive valuation at 7.93x and 6.86x of consolidated FY17EPS of Rs.31.9 and FY18EPS of Rs We initiate a BUY on the stock with a target price of Rs.310 (appreciation of about 23%) with the medium to long term investment horizon. For Private Circulation Only 1 Hem Research
2 Business overview GHCL Limited was incorporated in The company has established itself as a well-diversified group with an ascertained footprint in Chemicals, Textiles and Consumer Products segment. In addition to domestic sales, GHCL exports to Saudi Arabia, Iran, the UAE, Jordan, Bangladesh, Sri-Lanka, Indonesia, Malaysia, Thailand, Taiwan and Australia. In Chemicals, the company mainly manufactures Soda Ash (Anhydrous Sodium Carbonate) that is a major raw material for Detergents & Glass industries and Sodium Bicarbonate (baking soda). The manufacturing facility of Soda Ash plant is located at Sutrapada, in the state of Gujarat, India. The region is famously known as the Saurashtra coastal belt and is ideal for the manufacturing of Soda Ash in India. GHCL Limited, being one of the leading manufacturers of Soda Ash in India, has an annual production capacity of 8,50,000 metric tons, which contributes to almost 23% of the annual domestic requirement. GHCL s Soda Ash product line consists of Light grade, Dense grade and Sodium Bicarbonate (Baking Soda). Its Soda Ash is available across the Indian market under the brand name LION. Its Textiles operations is an integrated vertical set up which commences right from spinning of fiber (yarn), weaving, dyeing, printing till the finished products, like sheets & duvets, take shape which are primarily exported worldwide. Spinning facilities of the company is located near Madurai in the state of Tamil Nadu, India. Here they produce 100% cotton compact yarn, cotton blend yarn, 100% polyester yarn, viscose blends yarn and other fancy yarn. Some quantity of yarn is also sold in the domestic market as well as exported to international markets. Currently the total spinning capacity is ~ spindles annually. GHCL s Home Textiles facility is located in Vapi in the state of Gujarat, India. This facility oversees the production process right from weaving to finished processed fabric, which is then converted into products like duvet sets, sheet sets, comforter sets to name a few. As one of the leading manufacturers of Home Textiles in India, the plant boasts of an annual production capacity of 36 million metres of finished fabric per annum. GHCL s Home Textiles products are predominantly exported worldwide to countries like United Kingdom, United States of America, Australia, Canada, Germany and other European Union countries as well. Consumer Products operation is another business for GHCL where it is a leader in manufacturing and selling Edible salt, Industrial grade salt and Honey in the country. The company has Salt Works located at Vedaranayam and the refinery plant at Tiruporur, near Chennai, Tamil Nadu. GHCL s premium quality Edible Salt is made available to the consumers in India under the brand name of iflo and Sapan, both of which symbolize unparalleled quality. For Private Circulation Only 2 Hem Research
3 Cost effective soda ash business-strongest edge of GHCL GHCL is a leading producer of soda ash with capacity of 0.85 mn tpa and with market share of about 23% and is well poised to tap the opportunities in both the Detergents & the Glass industries. The company has a significant advantage in maintaining tight control on cost of soda ash due to major captive source on some of the raw materials Salt, Limestone & Lignite which helps it to maintain high margins and return ratios. The chemical business contributes a large chunk of revenues at 58% with EBIDTA contribution of 78% to the total income of the company. GHCL has achieved a record production of 1.93 lakh metric tonne in the inorganic chemical segment in the June 2016 quarter and sales of 1.88 lakh tonne setting a benchmark productivity of 91% against 86%(excluding the annual shutdown effect) last year same quarter. This has led to both higher production and sales. This segment is the strongest edge of the company with cost leadership, high margins and stable volumes. The capacity addition of another 1 lac ton of Soda Ash is well on track and is expected to be completed by March The other product which the company produces is Sodium Bicarbonate whose realization is almost the same as the soda ash. GHCL enjoys more than 10% market share of this product. Focus on margin improvement in textile division GHCL is one of the largest integrated textile manufacturers in India with presence in both spinning and home textiles business. GHCL is vertically integrated home textile player with presence across the value chain from spinning to processing. The company has increased capacity utilization rate from 70% in FY15 to 83% in FY16 owing to focus on increase in exports. It has marquee customers like Bed Bath & Beyond, JC Penny and TARGET. The company has major export market is USA while Europe, Australia and Canada comprise the remaining markets. The company is aggressively focused on improving margin in the textile division which has resulted in a margin improvement from 14% in Q1FY2016 to 16% in Q1FY17 mainly led by higher volumes and lower utility cost. Changing customer profile, capacity optimization via debottlenecking, increase in exports and thrust on improving product mix is expected to add volumes and higher margins in the home textile business. The Company has installed 12.6 MW windmill, taking the total capacity to around 25 MW which meets around 50% of power needs in spinning segment. Investment made in the windmill last year has also benefited the company in rationalizing UPC cost and contributing to the bottomline. The margin improvement contribution from windmill stands at 1% during the quarter and incremental amount stood at Rs.4 crores. For Private Circulation Only 3 Hem Research
4 Capacity expansion to drive growth The capacity addition of another 1 lac ton of Soda Ash through a brownfield expansion with an investment of Rs.3.75 bn is well on track and is expected to be completed by March This expansion will help GHCL to boost its profitability and return ratios as fixed costs would remain same. Investment made in the windmill last year has also benefited the company in rationalizing our UPC cost and contributing to the bottomline. The company has spent about Rs.63 crores for the capex in the quarter ended June Further, the current capacity of edible salt plant stands at MT which is planned to be increased to MT by end of January GHCL has been producing approximately around 80 tonnes of sodium bicarbonate a day while the total market for sodium bicarbonate is around tonnes in yearn which leads to lot of imports. In order to ride this opportunity the company is making investment to increase sodium bicarbonate capacity from 80 tonnes to 180 tonnes. The company has recently approved an additional capex of Rs crores for Soda Ash division which will be used towards expansion of Bicarbonate capacity by 100 TPD, soda ash capacity expansion by TPA and RO plant for water availability at Soda Ash plant taking into account the scarcity of water being faced by the industry. Entry in new markets and new products GHCL has a small business set up of FMCG business and they are present in edible salt. Its FMCG brand iflo has the greatest reach among salt variants- from basic refined iodised salt and crystal salt to specialized variants like Mild, Herbal & double fortified salt. Now they have launched two new variants- honey in the southern market and spices which they are taking to Maharashtra and Goa market. The company is gradually moving into the other parts of India. For Private Circulation Only 4 Hem Research
5 Firm growth outlook GHCL has started to focus on domestic market and working with major retail brands for domestic markets. It has highly successful client relationships and is the preferred supplier to all major soda ash consumers with esteemed clients like Hindustan unilever Limited, Ghari Group, P&G, Fena Group, HNG Group, Gujarat Guardian Limited, Gujarat Borosil Limited, Piramal Glass Limited, St Gobain Glass, Gold Plus Glass, Phillips and Patanjali Ayurveda Limited. The textile business topline growth is expected to be around 10-12% in the year ahead. In continuation of focus on improving margins in the textile division; the company expects to maintain 15-16% margin driving by higher volumes or higher revenues in the times ahead. GHCL believes that it is well covered up to March 2017 and do not see any cost pressures till then. The capacity expansion for the inorganic chemical segment is expected to be completed by March 2017 driving volume growth in times ahead. Further, another expansion of by the debottlenecking will add more volumes to the business next year along with improved profitability. GHCL is targeting 20-25% growth on the overall bottomline for the entire business next year. The company after shutting its loss-making overseas subsidiaries is now focusing on reducing its debt levels. It intends to bring down its debt-equity ratio under one by this year-end. The company has allocated Rs.68 crores towards debt reduction during the quarter ended June For Private Circulation Only 5 Hem Research
6 Consolidated Profit & Loss Account Rs. Crore Particulars FY14 FY15 FY16 FY17E FY18E Net sales Growth 5.60% 7.81% 8.00% 8.20% Expenditure EBITDA Growth 21.90% 19.89% 9.09% 10.36% EBITDA margin 19.28% 22.26% 24.75% 25.00% 25.50% Other income Depreciation & Amortisation EBIT EBIT margin 15.87% 19.15% 21.77% 21.92% 22.39% Interest PBT Tax PAT Share of Associates Minority Interest Adjusted PAT Growth Net Profit margins Exceptional item Reported PAT Equity Capital Res. & Surplus , , Equity Shares Adjusted EPS For Private Circulation Only 6 Hem Research
7 Balance Sheet Rs. Crore Particulars FY14 FY15 FY16 FY17E FY18E Equity Share Capital Reserves & Surplus , , Shareholders funds Borrowings Deferred tax liability Minority Interest Sources of funds Gross block 2, , , Accumulated Depreciation 1, , , , , Net block Capital WIP Investments Inventories Sundry debtors Cash and bank balance Other current assets Loans and advances Total current assets Current liabilities Net current assets Uses of funds 2, , , , , Ratios Particulars FY14 FY15 FY16 FY17E FY18E Return on Equity Return on Capital employed Debt/Equity Asset turnover Current Ratio Book value per share Interest coverage For Private Circulation Only 7 Hem Research
8 Standalone Quarterly Financial Highlights Rs. Crore Particulars Q1FY17 Q1FY16 Q4FY16 YoY% QoQ% Revenues Expenditures Operating Profit Adjusted Net Profit Exceptional item ---- (13.51) Reported Net Profit OPM% bps 135bps NPM % bps 287bps Adjusted EPS Past Price movement of the stock GHCL ( , , , , ) For Private Circulation Only 8 Hem Research
9 HEM SECURITIES LIMITED MEMBER-BSE,CDSL, SEBI REGISTERED CATEGORY I MERCHANT BANKER Sebi Registration No For Research Analyst: INH MUMBAI OFFICE: 14/15, KHATAU BLDG., IST FLOOR, 40, BANK STREET, FORT, MUMBAI PHONE FAX JAIPUR OFFICE: , JAIPUR TOWERS, M I ROAD, JAIPUR PHONE FAX GROUP COMPANIES HEM FINLEASE PRIVATE LIMITED MEMBER-NSE HEM MULTI COMMODITIES PRIVATE LIMITED MEMBER-NCDEX, MCX HEM FINANCIAL SERVICES LIMITED NBFC REGISTERED WITH RBI For Private Circulation Only 9 Hem Research
10 Disclaimer & Disclosure: This document is prepared for our clients only, on the basis of publicly available information and other sources believed to be reliable. Whilst we are not soliciting any action based on this information, all care has been taken to ensure that the facts are accurate, fair and reasonable. This information is not intended as an offer or solicitation for the purchase or sell of any financial instrument and at any point should not be considered as an investment advise. Reader is requested to rely on his own decision and may take independent professional advise before investing. Hem Securities Limited, Hem Finlease Private Limited, Hem Multi Commodities Pvt. Limited, Directors and any of its employees shall not be responsible for the content. The person accessing this information specifically agrees to exempt Hem Securities Limited, Hem Finlease Private Limited, Hem Multi Commodities Pvt. Limited or any of its affiliates or employees from, any and all responsibility/liability arising from such misuse and further agrees to hold Hem Securities Limited, Hem Finlease Private Limited, Hem Multi Commodities Pvt. Limited or any of its affiliates or employees free and harmless from all losses, costs, damages, expenses that may be suffered by the person accessing this information due to any errors and delays. The companies and its affiliates, officers, directors, and employees, including persons involved in the preparation or issuance of this material may from time to time, have long or short positions in, and buy or sell the securities there of, company (ies) mentioned here in and the same have acted upon or used the information prior to, or immediately following the publication. Disclosure of Interest Statement Company Name 1. Analyst Ownership of the Stock No 2. Hem & its Group Company Ownership of the Stock Yes 3. Hem & its Group Companies Director Ownership of the Stock Yes 4. Broking relationship with company covered No Analyst Certification The views expressed in this research report accurately reflect the personal views of the analyst(s) about the subject securities or issues, and no part of the compensation of the research analyst(s) was, is, or will be directly or indirectly related to the specific recommendations and views expressed by research analyst(s) in this report. For Private Circulation Only 10 Hem Research
NIIT Technologies Ltd. 15 th February, 2016 BUY
Company Report BROKING DEPOSITORY DISTRIBUTION FINANCIAL ADVISORY NIIT Technologies Ltd. 15 th February, 2016 BUY CMP Target Price Rs.500.95 Rs.645.00 BSE Code 532541 Market Cap (Rs Cr.) 3065.81 52 Week
More informationIdea Cellular Ltd. 19 th January, 2015 BUY
Company Report BROKING DEPOSITORY DISTRIBUTION FINANCIAL ADVISORY Idea Cellular Ltd. 19 th January, 2015 BUY CMP Target Price Rs.155.20 Rs.210.00 BSE Code 532822 Market Cap (Rs Cr.) 55,832.96 52 Week High/Low
More informationVa Tech Wabag Ltd. 11 th March, 2014 BUY
Company Report BROKING DEPOSITORY DISTRIBUTION FINANCIAL ADVISORY Va Tech Wabag Ltd. 11 th March, 2014 BUY CMP Target Price Rs.691.30 Rs.870.00 VA Tech Wabag is Indian multinational player technology focused
More informationR.S. Software (India) Ltd. 11 th August, 2014 BUY
Company Report BROKING DEPOSITORY DISTRIBUTION FINANCIAL ADVISORY R.S. Software (India) Ltd. 11 th August, 2014 BUY CMP Rs.430.00 Target Price Rs.600.00 BSE Code 517447 NSE Code RSSOFTWARE Market Cap (Rs
More informationTech Mahindra Ltd 21 st September, 2013 BUY
Company Report BROKING DEPOSITORY DISTRIBUTION FINANCIAL ADVISORY Tech Mahindra Ltd 21 st September, 2013 BUY CMP Target Price Rs.1298.60 Rs.1650.00 Tech Mahindra is a global systems integrator and business
More informationCamlin Fine Sciences Ltd. 27 th June, 2015 BUY
Company Report BROKING DEPOSITORY DISTRIBUTION FINANCIAL ADVISORY Camlin Fine Sciences Ltd. 27 th June, 2015 BUY CMP Target Price Rs.111.85 Rs.145.00 Camlin Fine Sciences is one of the India's leading
More informationV-Guard Industries Ltd 9 th June, 2012
Company Report BROKING DEPOSITORY DISTRIBUTION FINANCIAL ADVISORY V-Guard Industries Ltd 9 th June, 2012 CMP Rs.215.00 The V-Guard Group has emerged as one of the most trusted brand in India. VGIL plans
More informationGabriel India Ltd. 4 th November, 2014 BUY
Company Report BROKING DEPOSITORY DISTRIBUTION FINANCIAL ADVISORY Gabriel India Ltd. 4 th November, 2014 BUY CMP(As on 3/11/2014) Rs.83.40 Target Price Rs.115.00 BSE Code 505714 NSE Code GABRIEL Market
More informationCeat Ltd 1 st June, 2013 BUY
Company Report BROKING DEPOSITORY DISTRIBUTION FINANCIAL ADVISORY Ceat Ltd 1 st June, 2013 BUY CMP Target Price Rs.107.75 Rs.140.00 Ceat is India s leading tyre company with over 50 years of presence.
More informationGujarat Heavy Chemicals Ltd.
Company Update Chemicals & Textiles India Research NVS Wealth Managers Gujarat Heavy Chemicals Ltd. CMP: 99 Nifty 8585 Sensex 28286 Nifty PE 23.7 Sensex PE 22.7 Stock Data Sector Chemicals & Textiles BSE
More informationPidilite Industries Ltd 10 th September, 2012
Company Report BROKING DEPOSITORY DISTRIBUTION FINANCIAL ADVISORY Pidilite Industries Ltd 10 th September, 2012 CMP(as on 8/9/2012) Target Price Rs.200.50 Rs.260.00 Pidilite Industries Ltd. has been a
More informationMunjal Showa Ltd 30 th May, 2012
Company Report BROKING DEPOSITORY DISTRIBUTION FINANCIAL ADVISORY Munjal Showa Ltd 30 th May, 2012 CMP Target Price Rs.79.00 Rs.100.00 Munjal Showa Limited in Hero Group's joint venture with Showa Corporation,
More informationMadras Cements Ltd 9 th October, 2012 BUY
Company Report BROKING DEPOSITORY DISTRIBUTION FINANCIAL ADVISORY Madras Cements Ltd 9 th October, 2012 BUY CMP Target Price Rs.186.35 Rs.240.00 Madras Cements Ltd is the flagship company of the Ramco
More informationMinda Corporation Ltd. 29 th December, 2015 BUY
Company Report BROKING DEPOSITORY DISTRIBUTION FINANCIAL ADVISORY Minda Corporation Ltd. 29 th December, 2015 BUY CMP Rs.89.40 Target Price Rs.120.00 BSE Code 538962 Market Cap (Rs Cr.) 1871.14 52 Week
More informationIPCA Laboratories Ltd 26 th August, 2013 BUY
Company Report BROKING DEPOSITORY DISTRIBUTION FINANCIAL ADVISORY IPCA Laboratories Ltd 26 th August, 2013 BUY CMP(As on 24/8/13) Rs.623.30 Target Price Rs.780.00 BSE Code 524494 NSE Code IPCALAB Market
More informationDCB Bank Ltd. 18 th August, 2014 BUY
Company Report BROKING DEPOSITORY DISTRIBUTION FINANCIAL ADVISORY DCB Bank Ltd. 18 th August, 2014 BUY CMP Rs.81.40 Target Price Rs.120.00 BSE Code 532772 NSE Code DCBBANK Market Cap (Rs Cr.) 2040.24 52
More informationSteel Strips Wheels Ltd. 6 th August, 2016 BUY
Company Report BROKING DEPOSITORY DISTRIBUTION FINANCIAL ADVISORY Steel Strips Wheels Ltd. 6 th August, 2016 BUY CMP Rs.511.80 Target Price Rs.640.00 BSE Code 513262 Market Cap (Rs Cr.) 794.42 52 Week
More informationGateway Distriparks Ltd 1 st July, 2011 BUY
Company Report BROKING DEPOSITORY DISTRIBUTION FINANCIAL ADVISORY Gateway Distriparks Ltd 1 st July, 2011 BUY CMP Rs 126.75 Target Price Rs 170.00 BSE Code 532622 NSE Code GDL Market Cap (Rs Mn) 13699.51
More informationGranules India Ltd. 21 st July, 2012
Company Report BROKING DEPOSITORY DISTRIBUTION FINANCIAL ADVISORY Granules India Ltd. 21 st July, 2012 CMP Target Price Rs.149.30 Rs.200.00 Granules India is among the leading global manufacturer of highvolume
More informationCarborundum Universal Ltd 18 th July, 2011 BUY
Company Report BROKING DEPOSITORY DISTRIBUTION FINANCIAL ADVISORY Carborundum Universal Ltd 18 th July, 2011 BUY CMP Rs 302.00 Target Price Rs 360.00 Large capacity expansions and major business acquisitions,
More informationGHCL Limited Q3FY16 Business Update
GHCL Limited Q3FY16 Business Update 1 Safe Harbor This presentation and the accompanying slides (the Presentation ), which have been prepared by GHCL Limited (the Company ), have been prepared solely for
More informationWe believe Respect, Trust, Ownership and Integrated Team Work leads to Business Success. GHCL Limited. Investor Presentation September 2016
We believe Respect, Trust, Ownership and Integrated Team Work leads to Business Success GHCL Limited Investor Presentation September 2016 Business segments overview Inorganic Chemicals Leading producer
More informationBalaji Amines Ltd 22/11/2017 BUY
BROKING DEPOSITORY DISTRIBUTION FINANCIAL ADVISORY MERCHANT BANKING Balaji Amines Ltd 22/11/2017 BUY CMP Rs. 600.75 Target Price Rs 780.00 BSE Code 530999 NSE Code BALAMINES Market Cap (Rs crore) Rs.1946.43
More informationMeghmani Organics Ltd 24th Aug 2017 BUY
BROKING DEPOSITORY DISTRIBUTION FINANCIAL ADVISORY MERCHANT BANKING Meghmani Organics Ltd 24th Aug 2017 BUY CMP Rs. 72.65 Target Price Rs 95.00 BSE Code 532865 NSE Code MEGH Market Cap (Rs crore) Rs. 1847.49
More informationAlembic Pharmaceuticals Ltd 25 th September, 2012
Company Report BROKING DEPOSITORY DISTRIBUTION FINANCIAL ADVISORY Alembic Pharmaceuticals Ltd 25 th September, 2012 CMP Target Price Rs.70.85 Rs.90.00 Alembic Pharma continues to maintain its market share
More informationIPO Report ICICI SECURITIES LTD SUBSCRIBE. Valuation. IPO Details. Research Analyst : Astha Jain
IPO Report ICICI SECURITIES LTD SUBSCRIBE IPO Details Issue Date 22 nd Mar-26 th Mar 2018 Price Band 519-520/Share Bid Lot 28 & in multiplethereof Face Value Rs 5/Share Listing BSE, NSE Offer For Sale
More informationJK Paper Ltd 16/02/2018 BUY
BROKING DEPOSITORY DISTRIBUTION FINANCIAL ADVISORY MERCHANT BANKING JK Paper Ltd 16/02/2018 BUY CMP Rs 137.55 Target Price Rs 180.00 BSE Code 532162 NSE Code JKPAPER Market Cap (Rs crore) Rs.2414.00 52
More informationSUBSCRIBE. IPO Report HDFC ASSET MANAGEMENT COMPANY LTD. IPO Details. Research Analyst : Astha Jain
IPO Report HDFC ASSET MANAGEMENT COMPANY LTD SUBSCRIBE IPO Details Issue Date 25 th July-27 th July 2018 Price Band 1095-1100/Share Bid Lot 13 & in multiplethereof Face Value Rs 5/Share Listing BSE, NSE
More informationGHCL Limited Creating Value for stakeholders. Business Update July 2018
GHCL Limited Creating Value for stakeholders Business Update July 2018 2 Safe Harbour This presentation and the accompanying slides (the Presentation ), which have been prepared by GHCL Limited (the Company
More informationLONG TERM SUBSCRIBE. IPO Report HINDUSTAN AERONAUTICS LTD. IPO Details. Research Analyst : Astha Jain
IPO Report HINDUSTAN AERONAUTICS LTD LONG TERM SUBSCRIBE IPO Details Issue Date 16 th Mar-20 th Mar 2018 Price Band Bid Lot Face Value Listing Offer For Sale Fresh Issue ---- Pre Issue Eq Shares Post Issue
More information05 Business Philosophy
Safe harbor This presentation and the accompanying slides (the Presentation ), which have been prepared by GHCL Limited (the Company ), have been prepared solely for information purposes and do not constitute
More informationGHCL Ltd. Investment Rationale
24 December 2015 Retail Research I BUY Current Price RS. 134 Target Price RS. 170 Upside % 27 STOCK DATA BSE Code 500171 NSE Code Bloomberg Code GHCL GHCL IN 52 Week High / Low (Rs.) 152 / 55 Face Value
More informationFY17 FY18 FY19E FY20E
13-Aug-15 09-Aug-16 06-Aug-17 03-Aug-18 Result Update STRONG BUY * August 13, 2018 Dalmia Bharat Result Update Top-line growth led by improved realization & volume growth The company posted a revenue of
More informationParag Milk Foods BUY. Performance Update CMP. `256 Target Price `330. 2QFY2019 Result Update Dairy Products. Investment Period 12 Months
2QFY2019 Result Update Dairy Products November 6, 2018 Parag Milk Foods Performance Update Y/E March (` cr) Q2FY19 Q2FY18 % yoy Q1FY19 % qoq Net sales 573 505 13.7% 549 4.4% EBITDA 58 50 16.3% 60-2.7%
More informationGMM Pfaudler Limited BUY. Performance Update CMP. `945 Target Price ` QFY2019 Result Update Industrial Machinery. Investment Period 12 Months
2QFY2019 Result Update Industrial Machinery October 26, 2018 GMM Pfaudler Limited Performance Update Standalone (` cr) Q2FY19 Q2FY18 % yoy Q1FY19 % qoq Net sales 99.2 93.2 29.8% 76.4 6.4% EBITDA 16.0 15.3
More informationFY17 FY18E FY19E FY20E
8-215 11-215 2-216 5-216 8-216 11-216 2-217 5-217 8-217 11-217 2-218 5-218 8-218 11-218 Result Update Institutional Research November 19, 218 Sanghi Industries Result Update Subdued revenue growth due
More informationGarware Wall Ropes ACCUMULATE. Performance Highlights CMP. `550 Target Price `618. 2QFY2017 Result Update Textile. Investment Period 12 months
2QFY217 Result Update Textile November 16, 216 Garware Wall Ropes Performance Highlights Quarterly Data (`cr) 2QFY17 2QFY16 % yoy 1QFY17 % qoq Revenue 232 214 8.5 225 3.3 EBITDA 4 26 5.9 31 29.4 Margin
More informationBloomberg Code: ATA IN
Auto OEM: 3-Wheelers Atul Feb Auto 03, 2015 Ltd India Research Stock Broking Bloomberg Code: ATA IN Stable quarter led by surge in exports volumes (TP revised ) : Operating revenue, EBITDA and PAT grew
More informationSKS Textiles Limited (NSE SME)
SKS Textiles Limited (NSE SME) IPO Fact Sheet SKS Textiles Ltd. Opening Date January 9 th, 2018 Closing Date January 11 th, 2018 BRLMs Aryaman Financial Services Issue Size Rs. 13.32 Crores Shares 8.88
More informationSUBSCRIBE. IPO Report BHARAT DYNAMICS LTD. IPO Details. Research Analyst : Astha Jain
IPO Report BHARAT DYNAMICS LTD SUBSCRIBE IPO Details Issue Date 13 th Mar-15 th Mar 2018 Price Band 413-428/Share* Bid Lot 35 & in multiplethereof Face Value Rs 10/Share Listing BSE, NSE Offer For Sale
More informationPhillips Carbon Black Ltd
4 Recommendation BOOK PROFITS Pain not yet over CMP (09/02/2015)* Rs. 131 Phillips Carbon Black (PCB) reported results in line with expectations; with EBITDA margins at 10.0% vs 9.3% in Q2FY15. The company
More informationFineotex Chemical Ltd
Company Update Decent Performance under Macroeconomic Pressure; Business Traction to Continue: Fineotex Chemical recorded decent set of result as consolidated sales grew by 1.1% YoY (largely in line) to
More informationCMP* (Rs) 336 Upside/ (Downside) (%) 21 Bloomberg Ticker. MOIL IN Market Cap. (Rs bn) 45 Free Float (%) 24 Shares O/S (mn) 133
4QFY17 Result Update June 06, 2017 Market Cap. (Rs bn) 45 Free Float (%) 24 Shares O/S (mn) 133 Mixed Quarterly Performance; Volume to Remain Strong has reported a mixed performance in 4QFY17. Its blended
More informationBUSINESS UPDATE Scaling new heights EBITDA and PAT at record levels Revenue up 22% YoY EBITDA up 29% and PAT up 31% YoY Cash PAT up 37% Mumbai, Januar
BUSINESS UPDATE Scaling new heights EBITDA and PAT at record levels Revenue up 22% YoY EBITDA up 29% and PAT up 31% YoY Cash PAT up 37% Mumbai, January 29, 2015: Welspun India Ltd., (WIL), part of the
More informationITC ACCUMULATE. Performance Highlights CMP. `257 Target Price `284. 3QFY2017 Result Update FMCG. Investment Period 12 Months
3QFY2017 Result Update FMCG January 30, 2017 ITC Performance Highlights Quarterly result (Standalone) (` cr) 3QFY17 3QFY16 % yoy 2QFY17 %qoq Revenue 9,248 8,867 4.3 9,661 (4.3) EBITDA 3,546 3,475 2.1 3,630
More informationITC Ltd. BUY CMP (Rs.) 304 Target (Rs.) 336 Potential Upside(%) 11% Valuation: Investment Rationale. For private circulation only
Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18. Volume No.. I Issue No. 186 ITC Ltd September 21, 2018 BSE Code: 500875 NSE Code: ITC Reuters Code: ITC.NS Bloomberg
More informationParag Milk Foods BUY. Performance Update CMP. `324 Target Price `410. 1QFY2019 Result Update Dairy Products. Investment Period 12 Months
1QFY2019 Result Update Dairy Products August 8, 2018 Parag Milk Foods Performance Update Y/E March (` cr) Q1FY19 Q1FY18 % yoy Q4FY18 % qoq Net sales 549 413 32.9 518 5.9 EBITDA 60 29 103% 55 8.4% EBITDA
More informationVisaka Industries Ltd
Company Update Superior Product Mix & New Age Markets to Aid Growth New investments to aid growth: Visaka continues to give a good set of numbers. YoY EPS grew at 142% aided by a revenue growth of 1.5%
More informationAVOID. IPO Report GARDEN REACH SHIPBUILDERS & ENGINEERS LTD. IPO Details. Research Analyst : Astha Jain
IPO Report AVOID IPO Details Issue Date 24 th Sept-26 th Sept 2018 Price Band 115-118/Share * Bid Lot 120 & in multiplethereof Face Value Rs 10/Share Listing BSE, NSE Offer For Sale 29,210,760 Eq Shares
More informationInox Wind BUY. Performance Highlights. CMP Target Price `242 `286. 4QFY2016 Result Update Capital Goods. 3 year price chart
4QFY216 Result Update Capital Goods May 11, 216 Inox Wind Performance Highlights Quarterly Data (Consolidated) ( ` cr) 4QFY16 4QFY15 % chg (yoy) 3QFY16 % chg (qoq) Total Income 1,829 93 96.6 941 94.2 EBITDA
More informationPhillips Carbon Black Limited
Phillips Carbon Black Limited We Touch Lives Every Moment Investor Presentation October - 217 1 Part of a Dynamic Conglomerate. A Leader in the Industry Company Overview Largest in India and 7 th largest
More informationTrident Ltd. Buy & Add on dips
Trident Ltd. Buy & Add on dips 33,351.8 38,689.6 37,553.3 36,656.6 46,944.2 18-Apr-17 18-May-17 18-Jun-17 18-Jul-17 18-Aug-17 18-Sep-17 18-Oct-17 18-Nov-17 18-Dec-17 18-Jan-18 18-Feb-18 18-Mar-18 Trident
More informationPrabhat Dairy Ltd. RESULT UPDATE 8th June, 2018
RESULT UPDATE 8 th June, 2018 Sep-15 Jan-16 May-16 Sep-16 Jan-17 May-17 Sep-17 Jan-18 May-18 India Equity Institutional Research II Result Update - Q4FY18 II 8 th June, 2018 2 Under Expansion Mode CMP
More informationKPR Mills Ltd 1QFY18 Result Update Target: Rs 944. Textile revenue impacted by slowdown due to GST, recovery from 2QFY18 onwards
KPR Mills Ltd 1QFY18 Result Update Target: Rs 944 Previous Rating: Accumulate Current Rating: Accumulate Textile revenue impacted by slowdown due to GST, recovery from 2QFY18 onwards CMP (Rs) 806 Target
More informationJindal Steel & Power BUY. CMP Target Price `200 `320. 1QFY2019 Result Update Steel & Power. Performance Update
Aug-15 Nov-15 Feb-16 May-16 Aug-16 Nov-16 Feb-17 May-17 Aug-17 Nov-17 Feb-18 May-18 Aug-18 1QFY2019 Result Update Steel & Power August 14, 2018 Jindal Steel & Power Performance Update INR Cr. Q1FY19 Q1FY18
More informationHindustan Media Ventures
2QFY216 Result Update Media October 27, 215 Hindustan Media Ventures Performance Highlights Quarterly Data (` cr) 2QFY16 2QFY15 % yoy 1QFY15 % qoq Revenue 227 2 13.7 224 1.4 EBITDA 52 39 33.1 55 (4.5)
More informationInox Wind BUY. Performance Highlights. CMP Target Price `390 `505. 2QFY2016 Result Update Capital Goods. 3 year price chart
2QFY2016 Result Update Capital Goods October 27, 2015 Inox Wind Performance Highlights Quarterly Data (Consolidated) ( ` cr) 2QFY16 2QFY15 % chg (yoy) 1QFY16 % chg (qoq) Revenues 1,008 543 85.6 636 58.6
More informationCentury Plyboards Ltd
May-15 Aug-15 Nov-15 Feb-16 May-16 Aug-16 Nov-16 Feb-17 May-17 Aug-17 Nov-17 Feb-18 4QFY2018 Result Update Plywood May 19, 2018 Century Plyboards Ltd Performance Update (Rs cr) 4QFY18 4QFY17 % yoy 3QFY17
More informationMarket Snap 12 th May 2018
Weekly ary Market Snap 12 th May 2018 BROKING INVESTMENT BANKING l RESEARCH DISTRIBUTION l DEPOSITORY Index Previous Close Open High Low Close Change Change (%) Sensex 34915.38 34983.59 35596.15 34977.74
More informationMarket Snap 02 nd June 2018
Weekly ary Market Snap 02 nd June 2018 BROKING INVESTMENT BANKING l RESEARCH DISTRIBUTION l DEPOSITORY Index Previous Close Open High Low Close Change Change (%) Sensex 34924.87 35074.32 35438.22 34735.11
More informationNRB BEARINGS LTD CMP. 16 July 2018 INR 164. Target Price. Initiating Coverage (BUY) INR 200
16 July 2018 NRB BEARINGS LTD CMP INR 164 Initiating Coverage (BUY) Target Price INR 200 Stock Details Industry Industrial Machinery Bloomberg Code NRBBR:IN BSE Code 530367 Face Value (Rs.) 2.00 Market
More informationHavells India. Q1FY18 Result Update Strong Sales growth; Margins decline. Sector: Consumer Durable CMP: ` 467. Recommendation: BUY
Havells India Q1FY18 Result Update Strong Sales growth; Margins decline Sector: Consumer Durable CMP: ` 467 Recommendation: BUY Market statistics Current stock price (`) 467 Shares O/S (cr.) 62.5 Mcap
More informationPhillips Carbon Black Limited January 2016
Phillips Carbon Black Limited www.pcblltd.com January 2016 1 The Group Companies RP- Sanjiv Goenka Group Power & Natural Resources Carbon Black Retail Media & Entertainment Infrastructur e IT & Education
More informationPEER GROUPS CMP MARKET CAP EPS P/E (X) P/BV(X) DIVIDEND Company Name (Rs.) Rs. in mn. (Rs.) Ratio Ratio (%)
BUY CMP 734.45 Target Price 845.00 WELSPUN INDIA LIMITED Result Update (CONSOLIDATED): Q2 FY16 OCTOBER 24 th 2015 ISIN: INE192B01023 Index Details Stock Data Sector Textiles BSE Code 514162 Face Value
More informationChange EPS. (Rs) FY
17 AUG 217 / Quarterly Update BUY Target Price: Rs. 662 : Revenue up 21% Y-o-Y, strong growth in Non-GLE segment GMM Pfaudler Ltd(GMM) in 1QFY18posted revenues of Rs 69 Cr. (up 21% Y-o-Y, down 13% Q-o-Q)
More informationCCL Products BUY. Performance Update. CMP Target Price `278 `360. 3QFY2018 Result Update Coffee. Historical share price chart.
Feb-15 May-15 Aug-15 Oct-15 Jan-16 Apr-16 Jul-16 Oct-16 Jan-17 Apr-17 Jul-17 Oct-17 Jan-18 3QFY2018 Result Update Coffee February 5, 2018 CCL Products Performance Update Y/E March (` cr) Q3FY18 Q3FY17
More informationKey Highlights. YoY (% change) Q1FY10. QoQ % Particulars 2Q FY10 2Q FY09 Realizations per tone 31,899 53,436-40% 30,462 5% Source: Company
29th October, 2009 Key Data INR CMP 743 Target Price 646 Earlier target price 481 Bloomberg Code JSTL IN Reuters Code JSTL.BO BSE Code 500228 NSE Code JSWSTEEL Face Value (INR) 10 Market Cap (INR bn) 142
More informationAstra Microwave Products
Aug-13 Oct-13 Dec-13 Feb-14 Apr-14 Jun-14 Aug-14 Research Desk Stock Broking Capital Goods - Defence August 4, 2014 RESULT REVIEW Bloomberg: ASTM@IN Reuters: ASTM.BO Results in-line with expectation-maintain
More informationHero MotoCorp ACCUMULATE. Performance Highlights. CMP `3,718 Target Price `4,130. 1QFY2018 Result Update Automobile. 3-year price chart
1QFY2018 Result Update Automobile July 27, 2017 Hero MotoCorp Performance Highlights ACCUMULATE CMP `3,718 Target Price `4,130 Y/E March (` cr) 1QFY18 1QFY17 % chg (yoy) 4QFY17 % chg (qoq) Investment Period
More informationTata Steel NEUTRAL. Performance Highlights CMP. `226 Target Price - 2QFY2016 Result Update Steel. Investment Period - 3-year price chart
2QFY2016 Result Update Steel November 6, 2015 Tata Steel Performance Highlights Standalone (` cr) 2QFY16 2QFY15 yoy % 1QFY16 qoq % Net revenue 9,531 10,785 (11.6) 9,094 4.8 EBITDA 1,862 3,094 (39.8) 1,689
More informationColgate-Palmolive India Ltd.
RESULT UPDATE 5th February, 2018 Feb-15 Aug-15 Feb-16 Aug-16 Feb-17 Aug-17 Feb-18 India Equity Institutional Research II Result Update - Q3FY18 II 5th February, 2018 CMP INR 1,120 MARKET DATA Target INR
More informationPhillips Carbon Black Limited
Phillips Carbon Black Limited We Touch Lives Every Moment Investor Presentation February- 218 1 Part of a Dynamic Conglomerate. Carbon Black Industry Global Overview What is Carbon Black? Global CB demand
More informationColgate-Palmolive. Q1FY18 Result Update Volume pressure continues; Soft A&P aids Margin. Sector: FMCG CMP: ` 1,083. Recommendation: HOLD
Colgate-Palmolive Q1FY18 Result Update Volume pressure continues; Soft A&P aids Margin Sector: FMCG CMP: ` 1,083 Recommendation: HOLD Market Statistics Current stock price (`) 1,083 Shares O/S (cr.) 27.2
More informationIndo Count (ICNT IN) Cost and currency impacted the margins
INSTITUTIONAL EQUITY RESEARCH Indo Count (ICNT IN) Cost and currency impacted the margins INDIA MIDCAP TEXTILE Quarterly Update Top takeaways from 2QFY19 Results were lower than estimates on margin decline,
More informationTRIDENT LTD. 21 Sept 2017 CMP INR 101. Initiating Coverage (BUY) Target Price INR 126
21 Sept 2017 TRIDENT LTD CMP INR 101 Initiating Coverage (BUY) Target Price INR 126 Stock Details Industry TEXTILES Bloomberg Code TRID:IN BSE Code 521064 Face Value (Rs.) 10.00 Market Cap. (Rs. mn) 52,376.6
More informationCompany Research. Asian Paints Ltd Domestic paints volumes disappoint. Investment Overview: Date:
Asian Paints Ltd Domestic paints volumes disappoint Date: 30.8.2012 Investment Overview: Asian Paints is India s largest paint company & Asia s third largest paint company, with a turnover of Rs 96322.40
More informationPidilite Industries Ltd
Company Update De-stocking as an initial response to GST implementation caused subdued performance; Brighter long term business prospects ahead The company has recorded sales of Rs. 16693 Mn in as against
More informationProcter & Gamble Hygiene & Health Care
3QFY216 Result Update FMCG May 6, 216 Procter & Gamble Hygiene & Health Care Performance Highlights Quarterly Data (` cr) 3QFY16 3QFY15 % yoy 2QFY16 % qoq Revenue 614 555 1.5 714 (14.) EBITDA 133 123 8.5
More informationMeghmani Organics Limited (MOL) Q2 & H1FY18 Investor Presentation (November 2017)
1 Meghmani Organics Limited (MOL) Q2 & H1FY18 Investor Presentation (November 2017) Robust performance in Q2, PAT up 78% Net Sales (In Rs mn) EBITDA (In Rs mn) 4,536 up 19% YoY 1,028 Up 29% YoY EBITDA
More informationCoal India ACCUMULATE. Performance Highlights CMP. `338 Target Price `380. Outlook and valuation. 2QFY2016 Result Update Mining
Coal India Performance Highlights (` cr) % yoy % qoq Net Sales 16,958 15,678 8.2 18,956 (1.5) EBITDA 3,8 2,556 17.7 4,944 (39.2) % margin 17.2 15.8 139bp 25.3 (813bp) Net Profit 2,519 2,188 15.2 3,787
More informationCarborundum Universal Ltd 14/11/2017 BUY
BROKING DEPOSITORY DISTRIBUTION FINANCIAL ADVISORY MERCHANT BANKING Carborundum Universal Ltd 14/11/2017 BUY CMP Rs. 370.00 Target Price Rs 480.00 BSE Code 513375 NSE Code CARBORUNIV Market Cap (Rs crore)
More informationPhillips Carbon Black Limited. Efficient Growth November 2015
Phillips Carbon Black Limited Efficient Growth www.pcblltd.com November 2015 1 The Group Companies RP- Sanjiv Goenka Group Power & Natural Resources Carbon Black Retail Media & Entertainment Infrastructure
More informationUltratech Cement ACCUMULATE. Performance Highlights. Outlook and Valuation: 3QFY2010 Result Update I Cement
3QFY2010 Result Update I Cement January 18, 2010 Ultratech Cement Performance Highlights ACCUMULATE CMP Target Price Rs1,002 Rs1,090 Top-line flat at Rs1,652cr: Ultratech Cement (ULTC) posted a marginal
More informationIndian Oil Corporation Ltd.
Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 s. Indian Oil Corporation Ltd.. October 25, 217 BSE Code: 53965 NSE Code: IOC Reuters Code: IOC.NS Bloomberg Code:
More informationBajaj Auto Ltd. CMP: Rs.1426 Recommendation: Buy Target Price: Rs March. 1 P age. 21 st July Key Data Financial Year End
CMP: Rs.1426 Recommendation: Buy Target Price: Rs.1593 Key Data Financial Year End March Market Cap (Rs. Cr.) 41,241 Market Cap (USD Bn.) 9.2 Free Float Factor 0.49 52 Week H/L 1664.5/1189.6 Avg. 12M volumes
More informationColgate-Palmolive ACCUMULATE. Performance Highlights. 4QFY2010 Result Update I FMCG
4QFY2010 Result Update I FMCG May 27, 2010 Colgate-Palmolive Performance Highlights ACCUMULATE CMP Target Price Rs715 Rs752 We highlight the fact that the current quarter results are not comparable yoy/qoq,
More informationSymphony Ltd. RESULT UPDATE 31st October 2017
. RESULT UPDATE 31st October 2017 Oct-14 Apr-15 Oct-15 Apr-16 Oct-16 Apr-17 Oct-17 India Equity Institutional Research II Result Update Q2FY18 II 31st October 2017. CMP INR 1,465 Target INR 1,700 Potential
More informationAmara Raja Batteries BUY. Performance Highlights. CMP `1,010 Target Price `1,167. 2QFY2017 Result Update Auto Ancillary. 3-year price chart
2QFY217 Result Update Auto Ancillary November 8, 216 Amara Raja Batteries Performance Highlights BUY CMP `1,1 Target Price `1,167 Y/E March (` cr) 3QFY16 3QFY15 % chg (yoy) 2QFY16 % chg (qoq) Net Sales
More informationAmber Enterprises India Ltd
3QFY2019 Result Update Consumer Durable February 16, 2019 Amber Enterprises India Ltd Performance Update (` cr) 3QFY19 3QFY18 % yoy 2QFY19 % qoq Revenue 388.8 338.4 14.9 226.3 71.8 EBITDA 22.1 24.1 (8.2)
More informationHero MotoCorp ACCUMULATE. Performance Highlights. CMP `3,226 Target Price `3,466. 3QFY2017 Result Update Automobile. 3-year price chart
3QFY2017 Result Update Automobile February 14, 2017 Hero MotoCorp Performance Highlights ACCUMULATE CMP `3,226 Target Price `3,466 Y/E March (` cr) 2QFY17 2QFY16 % chg (yoy) 1QFY17 % chg (qoq) Investment
More informationFY17 FY18 FY19E FY20E
3-Aug-15 3-Oct-15 3-Dec-15 3-Feb-16 3-Apr-16 3-Jun-16 3-Aug-16 3-Oct-16 3-Dec-16 3-Feb-17 3-Apr-17 3-Jun-17 3-Aug-17 3-Oct-17 3-Dec-17 3-Feb-18 3-Apr-18 3-Jun-18 Result Update STRONG BUY * August 6, 218
More informationSuzlon Energy Ltd RESULT UPDATE 16th August, 2017
RESULT UPDATE 16 th August, 2017 Aug-16 Oct-16 Dec-16 Feb-17 Apr-17 Jun-17 Aug-17 Please vote for us in Asiamoney Brokers Poll 2017: https://www.euromoney.com/article/b13j49qfcr6j pp/asiamoney-brokers-poll-2017-vote-now
More informationKDDL (KDDL IN) In expansion mode
INSTITUTIONAL EQUITY RESEARCH KDDL (KDDL IN) In expansion mode INDIA MIDCAP Quarterly Update Top takeaways from 2QFY19 Results in line, recovery in manufacturing & strong growth in precision engineering.
More informationCCL Products BUY. Brewing Steadily. CMP Target Price `300 `360. Initiating Coverage Coffee. January 4, year price chart
5-Jan 5-Apr 5-Jul 5-Oct 5-Jan 5-Apr 5-Jul 5-Oct 5-Jan 5-Apr 5-Jul 5-Oct CCL Products Brewing Steadily CCL Products Limited (CCL) is the largest Indian manufacturer and exporter of instant coffee. With
More informationVolant Textile Mills Ltd BSE Scrip Code:
Volant Textile Mills Ltd BSE Scrip Code: 531865 Textiles October 09, 2012 Equity Statistics Current Market Price Rs. 3.11 52 Week High/Low Rs. 3.55/1.34 Market Capitalisation Rs. Crores 23.31 Free Float
More informationJuly 30, Sutlej Textiles & Industries Limited Increasing value - added products and healthy volume growth
July 30, 2015 Increasing value - added products and healthy volume growth Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Initiating Coverage Recommendation CMP
More informationMandhana Industries Ltd.
Company Update Textiles India Research NVS Wealth Managers Mandhana Industries Ltd. CMP: 270 High Risk BUY Target: Rs 370 Nifty 8,295 Sensex 27,470 Nifty PE 22.6 Sensex PE 22.1 Mandhana Industries Ltd
More informationApollo Hospitals Enterprise Ltd.
Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17. Volume No.. I Issue No. 154 Apollo Hospitals Enterprise Ltd. December 19, 2017 BSE Code: 508869 NSE Code: APOLLOHOSP
More informationMarket Snap 26 th May 2018
Weekly ary Market Snap 26 th May 2018 BROKING INVESTMENT BANKING l RESEARCH DISTRIBUTION l DEPOSITORY Index Previous Close Open High Low Close Change Change (%) Sensex 34848.30 34873.16 35017.93 34302.89
More informationCummins India Ltd Bloomberg Code: KKC IN
Company Update Margins Under Pressure; Domestic Recovery Underway Half-yearly revenue was flat; margins were under pressure: Cummins India revenue, EBITDA and PAT for H1FY17 reached to Rs.24,784mn, Rs.4,649mn
More information