*ICRA Ltd.* | *CMP* Rs. 3383 | *M Cap* Rs. 3265 Cr | *52 W H/L* 3985/2109
(Nirmal Bang Retail Research)
*Result has declined*
Revenue from Operations came at Rs. 82.1 Cr (6.1% QoQ, -5.7% YoY) vs QoQ Rs. 77.3 Cr, YoY Rs. 87.1 Cr. Decline was mainly led by lower rating revenue at Rs. 50 Cr vs YoY Rs. 54 Cr.
EBIDTA came at Rs. 23.8 Cr (-1.6% QoQ, -26.9% YoY) vs QoQ Rs. 24.2 Cr, YoY Rs. 32.6 Cr
EBITDA Margin came at 29.1% vs QoQ 31.4%, YoY 37.5%
Adj. PAT came at Rs. 22.2 Cr vs QoQ Rs. 24.2 Cr, YoY Rs. 34.6 Cr
Quarter EPS is Rs. 23
Share is trading at P/E of 40x TTM EPS.
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(Nirmal Bang Retail Research)
*Result has declined*
Revenue from Operations came at Rs. 82.1 Cr (6.1% QoQ, -5.7% YoY) vs QoQ Rs. 77.3 Cr, YoY Rs. 87.1 Cr. Decline was mainly led by lower rating revenue at Rs. 50 Cr vs YoY Rs. 54 Cr.
EBIDTA came at Rs. 23.8 Cr (-1.6% QoQ, -26.9% YoY) vs QoQ Rs. 24.2 Cr, YoY Rs. 32.6 Cr
EBITDA Margin came at 29.1% vs QoQ 31.4%, YoY 37.5%
Adj. PAT came at Rs. 22.2 Cr vs QoQ Rs. 24.2 Cr, YoY Rs. 34.6 Cr
Quarter EPS is Rs. 23
Share is trading at P/E of 40x TTM EPS.
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*Craftsman Automation Q4FY21 Concall Update*
*Outlook: Neutral in near term; Positive in long term*
• Co is engaged in three business segments - Automotive Powertrain (52% of FY21 revenue), Automotive Aluminium Products segment (21%) and Industrial and Engineering segment (27%).
• Debt reduced to 704 cr in FY21 (reduction of 336 cr via (i) IPO proceeds (136 cr) and (ii) internal accruals (200 cr)). Co intends to reduce it by 200 cr in FY22. Interest cost should reduce in FY22 by 25 cr.
• Exports were at 10% of revenue in FY21.
• Capex run rate will continue to be around 100 cr as has been the case in last two years.
• Co has created good capacities and so there will be operating leverage once demand picks up.
• MHCV Industry mix is shifting towards higher tonnage, thus power train segment is doing better than the overall volume growth in MHCV industry.
• Machining sales were 121 cr n Q3 & 140 cr in Q4 (374 cr in FY21 i.e. 46% of powertrain sales of 811 cr)
• Aluminum content per vehicle will continue to increase which will drive the auto aluminum segment.
• Storage business had sales of 104 cr in FY21 against engineering segment sales of 400 cr, so a 25% mix.
• RM does not impact the power train segment as the RM here is a pass through (RM is provided by OEMs).
• RM inflation in steel & aluminum hurt gross margins during the qtr in other segments of auto aluminum products and engineering; co has increased prices which should support margins in next qtr.
Stock is trading at 16x Q4FY22 annualised EPS. https://t.me/marketswizard
*Learning and earning group*
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*Outlook: Neutral in near term; Positive in long term*
• Co is engaged in three business segments - Automotive Powertrain (52% of FY21 revenue), Automotive Aluminium Products segment (21%) and Industrial and Engineering segment (27%).
• Debt reduced to 704 cr in FY21 (reduction of 336 cr via (i) IPO proceeds (136 cr) and (ii) internal accruals (200 cr)). Co intends to reduce it by 200 cr in FY22. Interest cost should reduce in FY22 by 25 cr.
• Exports were at 10% of revenue in FY21.
• Capex run rate will continue to be around 100 cr as has been the case in last two years.
• Co has created good capacities and so there will be operating leverage once demand picks up.
• MHCV Industry mix is shifting towards higher tonnage, thus power train segment is doing better than the overall volume growth in MHCV industry.
• Machining sales were 121 cr n Q3 & 140 cr in Q4 (374 cr in FY21 i.e. 46% of powertrain sales of 811 cr)
• Aluminum content per vehicle will continue to increase which will drive the auto aluminum segment.
• Storage business had sales of 104 cr in FY21 against engineering segment sales of 400 cr, so a 25% mix.
• RM does not impact the power train segment as the RM here is a pass through (RM is provided by OEMs).
• RM inflation in steel & aluminum hurt gross margins during the qtr in other segments of auto aluminum products and engineering; co has increased prices which should support margins in next qtr.
Stock is trading at 16x Q4FY22 annualised EPS. https://t.me/marketswizard
*Learning and earning group*
https://t.me/BooksMakeIndiaRead
*Knowledge Enhancement Group*
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Market Wizard
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Disclaimer : We are not SEBI Registered. Please consult your financial advisor before investing.
All the posts appearing in the channel are only for educational and informational purposes.
ALL RIGHTS RESERVED!!!
Disclaimer : We are not SEBI Registered. Please consult your financial advisor before investing.
All the posts appearing in the channel are only for educational and informational purposes.
ALL RIGHTS RESERVED!!!
Short Term Bumper Call
Buy Advani Hotels at CMP of 53.3 - 54 and on dips till 51
Sl 49
Targets:- 57 - 58 - 59 - 60 - 61 - 62 - 63+
Above 63 we can see 67 - 72 - 80 +
Disclaimer:- I am not SEBI Registered. Please consult your financial advisor before investing
Bse - 523269
Nse - 14745
Buy Advani Hotels at CMP of 53.3 - 54 and on dips till 51
Sl 49
Targets:- 57 - 58 - 59 - 60 - 61 - 62 - 63+
Above 63 we can see 67 - 72 - 80 +
Disclaimer:- I am not SEBI Registered. Please consult your financial advisor before investing
Bse - 523269
Nse - 14745
Mid Term Bumper Call
Buy BASML at CMP of 63.8 - 64.8 and dips till 59
Sl 56.5
Tatgets:- 67 - 68 - 69 - 70 - 71 - 72 - 73
Above 73 we can see 77 - 81 - 85 +
Disclaimer:- I am not SEBI Registered. Please consult your financial advisor before investing
NSE - 12034
BSE - 532674
Buy BASML at CMP of 63.8 - 64.8 and dips till 59
Sl 56.5
Tatgets:- 67 - 68 - 69 - 70 - 71 - 72 - 73
Above 73 we can see 77 - 81 - 85 +
Disclaimer:- I am not SEBI Registered. Please consult your financial advisor before investing
NSE - 12034
BSE - 532674
Re initiating Delivery / Positional Blaster Call
Buy KLRFM (BSE - 507598) at CMP of 53 - 54 and dips till 45
Sl 41
Targets:- 57 - 58.5 - 60+
Above 60 we can see 63 - 66 - 70 - 75+
Disclaimer:- I am not SEBI Registered. Please consult your financial advisor before investing.
Buy KLRFM (BSE - 507598) at CMP of 53 - 54 and dips till 45
Sl 41
Targets:- 57 - 58.5 - 60+
Above 60 we can see 63 - 66 - 70 - 75+
Disclaimer:- I am not SEBI Registered. Please consult your financial advisor before investing.
Market Wizard
Re initiating Delivery / Positional Blaster Call Buy KLRFM (BSE - 507598) at CMP of 53 - 54 and dips till 45 Sl 41 Targets:- 57 - 58.5 - 60+ Above 60 we can see 63 - 66 - 70 - 75+ Disclaimer:- I am not SEBI Registered. Please consult your financial advisor…
KLRFM 56.4 ❤️
Once above 56 we will move till Upper Circuit levels
Once above 56 we will move till Upper Circuit levels