Market Wizard
Added more PGIL at 179 - 183 - 186
PGIL 237.5
UPPER CIRCUIT LOCKED❤️❤️
UPPER CIRCUIT LOCKED❤️❤️
Market Wizard
Short Term Aggressive Call Buy DCM at CMP of 26.85 - 27.3 and dips till 25 Sl 23.7 Targets:- 28 - 28.5 - 29 - 29.5 - 30 - 31+ Above 31 we can see 34 - 37 - 40+ Disclaimer:- I am not SEBI Registered. Please consult your financial advisor before investing…
DCM 31.45❤️
Everyone got entry at 25.5 - 26 - 27
Short Term targets done ✅
Everyone got entry at 25.5 - 26 - 27
Short Term targets done ✅
VHL - 20%
DYNAMATECH - 20%
20 MICRONS - 20%
PGIL - 20%
INDOTECH - 20%
VICTMIL - 18%
ROTO - 13%
ARSS INFRA - 14%
CONTROL PRINT - 11%
RDBRIL - 10%
LA OPALA - 20%
VELJAN - 12%
TV18 - 11%
SAPPL - 11%
KENNAMETAL - 10%
ADC INDIA - 13%
BASANT AGRO - 10%
INDIA CEMENTS - 11%
Stocks which are UP more than 10%. Power Of our Research
#MARKETWIZARD
DYNAMATECH - 20%
20 MICRONS - 20%
PGIL - 20%
INDOTECH - 20%
VICTMIL - 18%
ROTO - 13%
ARSS INFRA - 14%
CONTROL PRINT - 11%
RDBRIL - 10%
LA OPALA - 20%
VELJAN - 12%
TV18 - 11%
SAPPL - 11%
KENNAMETAL - 10%
ADC INDIA - 13%
BASANT AGRO - 10%
INDIA CEMENTS - 11%
Stocks which are UP more than 10%. Power Of our Research
#MARKETWIZARD
Good Afternoon to all the dear members and my colleagues
In Markets every day we are witnessing consolidation in Nifty and in stocks too.
Taking position is becoming risky for Intraday and F&O. There are concerns towards which side the market will show its move
It's time now to Join Market Wizard Premium Group and also Renew your Membership to avail super gains.
All the members and colleagues who want to continue to be a part of our Premium Family or want to become a part of our Premium Family can do so , by renewing their membership.We have started accepting payment for the month of June and it will be solely on FIRST COME FIRST SERVE BASIS.
All those who make payment between 17th April to 23rd May, will be added on Evening of 23rd May, so that they can get benefit of 1 week extra calls.
Existing members you'll can renew your membership ASAP.
Monthly - 1k
Quarterly - 3k
Yearly - 10k
New members and existing members who make payment and send screenshots after the month end, shall have to compulsorily opt for quarterly or yearly.Monthly membership option is available only if payment is made before month end along with screenshot sent to any of the admins.
In Markets every day we are witnessing consolidation in Nifty and in stocks too.
Taking position is becoming risky for Intraday and F&O. There are concerns towards which side the market will show its move
It's time now to Join Market Wizard Premium Group and also Renew your Membership to avail super gains.
All the members and colleagues who want to continue to be a part of our Premium Family or want to become a part of our Premium Family can do so , by renewing their membership.We have started accepting payment for the month of June and it will be solely on FIRST COME FIRST SERVE BASIS.
All those who make payment between 17th April to 23rd May, will be added on Evening of 23rd May, so that they can get benefit of 1 week extra calls.
Existing members you'll can renew your membership ASAP.
Monthly - 1k
Quarterly - 3k
Yearly - 10k
New members and existing members who make payment and send screenshots after the month end, shall have to compulsorily opt for quarterly or yearly.Monthly membership option is available only if payment is made before month end along with screenshot sent to any of the admins.
🔴Rules & Disclaimers
📢PLS READ IT VERY CAREFULLY BEFORE AGREEING
1️⃣No phone calls or personal message to the admins.
2️⃣No chit-chat shall be entertained in the group.
3️⃣No sure shot on any calls.
4️⃣Profit / loss not guaranteed.
5️⃣Those who want to became crorepati in overnight please stay away from the group.
6️⃣We are not responsible for any of your profit or loss trade at ur own risk.All calls are for educational purpose only
We are not SEBI registered.
7️⃣Anyone found violating any of the above rules shall be expelled from the group and the amount so received shall not be refunded.
8️⃣Book profits as per your comfort
9️⃣SL shall be given... Exiting at stoploss or not is your decision.
⛔Note:- Entry and Exit should be taken by members choice.
⛔DISCLAIMER*
1️⃣0️⃣ I am not #SEBI registered.
1️⃣1️⃣The Above post is for educational purposes only.
1️⃣2️⃣Take any actions at your own risk only.
1️⃣3️⃣Incase of losses we will not compensate for any loss nor will refund you the membership fees incase you want to leave the group and discontinue our services.
1️⃣4️⃣The membership fees shall be payable monthly between 1st to 5th of the month, and the payment should be received before the designated day , incase of non payment no reminder shall be given and you will be removed from the group.
1️⃣5️⃣Tips / Advice / Suggestions (or any other similar terms ) , on any stock shall not be given which you are holding.It will not be a discussion forum but will be only be a paid service group where we will give our calls and stoploss.
1️⃣6️⃣We will hold the exclusive rights in respect of the calls shared in the group.If anyone found or reported to be sharing the calls shared by us in other paid groups he shall be expelled from the group.No amount shall be refunded.
1️⃣7️⃣There is NO REFUND POLICY in whatever case it may be.
1️⃣8️⃣we don't provide any payment bill or payment receipt
1️⃣9️⃣The last few targets in a particular call are aggressive.Waiting for them is at your own personal decision. You can book profits early as per your comforts.
2️⃣0️⃣All types of calls will be of different types and from all market caps will be shared as normal. Quantity of calls will be more to satisfy all types of members. You trade on call which suits your trading style and risk appetite
2️⃣1️⃣If anyone wants to avail the services in the middle of the month then also he will be liable to pay the complete fees of 1k.No proportionate amount on the number of days pending / any sort of discount will not be given.
🔴All Rights Reserved.
📢PLS READ IT VERY CAREFULLY BEFORE AGREEING
1️⃣No phone calls or personal message to the admins.
2️⃣No chit-chat shall be entertained in the group.
3️⃣No sure shot on any calls.
4️⃣Profit / loss not guaranteed.
5️⃣Those who want to became crorepati in overnight please stay away from the group.
6️⃣We are not responsible for any of your profit or loss trade at ur own risk.All calls are for educational purpose only
We are not SEBI registered.
7️⃣Anyone found violating any of the above rules shall be expelled from the group and the amount so received shall not be refunded.
8️⃣Book profits as per your comfort
9️⃣SL shall be given... Exiting at stoploss or not is your decision.
⛔Note:- Entry and Exit should be taken by members choice.
⛔DISCLAIMER*
1️⃣0️⃣ I am not #SEBI registered.
1️⃣1️⃣The Above post is for educational purposes only.
1️⃣2️⃣Take any actions at your own risk only.
1️⃣3️⃣Incase of losses we will not compensate for any loss nor will refund you the membership fees incase you want to leave the group and discontinue our services.
1️⃣4️⃣The membership fees shall be payable monthly between 1st to 5th of the month, and the payment should be received before the designated day , incase of non payment no reminder shall be given and you will be removed from the group.
1️⃣5️⃣Tips / Advice / Suggestions (or any other similar terms ) , on any stock shall not be given which you are holding.It will not be a discussion forum but will be only be a paid service group where we will give our calls and stoploss.
1️⃣6️⃣We will hold the exclusive rights in respect of the calls shared in the group.If anyone found or reported to be sharing the calls shared by us in other paid groups he shall be expelled from the group.No amount shall be refunded.
1️⃣7️⃣There is NO REFUND POLICY in whatever case it may be.
1️⃣8️⃣we don't provide any payment bill or payment receipt
1️⃣9️⃣The last few targets in a particular call are aggressive.Waiting for them is at your own personal decision. You can book profits early as per your comforts.
2️⃣0️⃣All types of calls will be of different types and from all market caps will be shared as normal. Quantity of calls will be more to satisfy all types of members. You trade on call which suits your trading style and risk appetite
2️⃣1️⃣If anyone wants to avail the services in the middle of the month then also he will be liable to pay the complete fees of 1k.No proportionate amount on the number of days pending / any sort of discount will not be given.
🔴All Rights Reserved.
So Guys PLEASE READ CAREFULLY & UNDERSTAND THE MATTER
To avail the paid services of our group , everyone needs to do the following set of activities :
1) Everyone needs to fill in the Google Forms with the correct and accueate details.The form needs to be read carefully and then give upon your consent.
2)Pay us the fees of Rs.1000 each month either through Google Pay or Bank Transfers(details of payment are attached in the Google Form)
3) Upon completion of payment , take a screenshot of the acknowledgement and send it to us.It can be sent to the admin on the following numbers on the WhatsApp or Telegram :
Jimit Parekh Sir : +91 9821722433
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Divesh Jain Sir: +91 9870736813
Along with the screenshot pls give us your NAME & Mobile Number to confirm with our Google Form Records.
PLS NOTE : STRICTLY ONLY MESSAGES , NO CALLS ON THE GIVEN NUMBERS.
https://docs.google.com/forms/d/e/1FAIpQLSed5g8JiIGlttu3IUlkJwnCdEMzv-1Z_hr3ylfU55pepmCb6A/viewform?usp=sf_link
To avail the paid services of our group , everyone needs to do the following set of activities :
1) Everyone needs to fill in the Google Forms with the correct and accueate details.The form needs to be read carefully and then give upon your consent.
2)Pay us the fees of Rs.1000 each month either through Google Pay or Bank Transfers(details of payment are attached in the Google Form)
3) Upon completion of payment , take a screenshot of the acknowledgement and send it to us.It can be sent to the admin on the following numbers on the WhatsApp or Telegram :
Jimit Parekh Sir : +91 9821722433
Darpan Solanki Sir : +91 9924832776
Divesh Jain Sir: +91 9870736813
Along with the screenshot pls give us your NAME & Mobile Number to confirm with our Google Form Records.
PLS NOTE : STRICTLY ONLY MESSAGES , NO CALLS ON THE GIVEN NUMBERS.
https://docs.google.com/forms/d/e/1FAIpQLSed5g8JiIGlttu3IUlkJwnCdEMzv-1Z_hr3ylfU55pepmCb6A/viewform?usp=sf_link
Google Docs
MARKET WIZARD PREMIUM
🔴Rules & Disclaimers
📢PLS READ IT VERY CAREFULLY BEFORE AGREEING
1️⃣No phone calls or personal message to the admins.
2️⃣No chit-chat shall be entertained in the group.
3️⃣No sure shot on any views.
4️⃣Profit / loss not guaranteed.
5️⃣Those who want…
📢PLS READ IT VERY CAREFULLY BEFORE AGREEING
1️⃣No phone calls or personal message to the admins.
2️⃣No chit-chat shall be entertained in the group.
3️⃣No sure shot on any views.
4️⃣Profit / loss not guaranteed.
5️⃣Those who want…
_*Result Highlights*_
Indian Oil Corporation Ltd.: Net Revenue at Rs. 165607.0 crore, +16.8% YoY and +12% QoQ. EBITDA at Rs. 14340.4 crore vs loss of Rs. 2688.9 crore YoY and +46.4% QoQ. EBITDA Margin at 8.7%, +1056 bps YoY and +203 bps QoQ. Net Profit at Rs. 9144.9 crore vs loss of Rs. 8565.5 crore YoY and +122.9% QoQ.
Endurance Technologies Ltd.: Net Revenue at Rs. 2132.9 crore, +33.6% YoY and +4.5% QoQ. EBITDA at Rs. 332.2 crore, +39.7% YoY and -5.7% QoQ. EBITDA Margin at 15.6%, +68 bps YoY and +-168 bps QoQ. Net Profit at Rs. 187.3 crore, +75.3% YoY and -1.5% QoQ.
Tanla Platforms Ltd.: Net Revenue at Rs. 648.6 crore, +24.2% YoY and -0.8% QoQ. EBITDA at Rs. 134.0 crore, +128.8% YoY and +5.6% QoQ. EBITDA Margin at 20.7%, +945 bps YoY and +127 bps QoQ. Net Profit at Rs. 102.5 crore vs loss of Rs. 89.1 crore YoY and +9.6% QoQ.
Indiabulls Housing Finance Ltd.: Net Revenue at Rs. 2422.0 crore, -17.9% YoY and -3.6% QoQ. Net Profit at Rs. 276.2 crore, +101.5% YoY and -16.1% QoQ.
Prism Johnson Ltd.: Net Revenue at Rs. 1850.2 crore, +24.8% YoY and +21.3% QoQ. EBITDA at Rs. 237.5 crore, +76.8% YoY and +24.8% QoQ. EBITDA Margin at 12.8%, +378 bps YoY and +36 bps QoQ. Net Profit at Rs. 157.4 crore vs loss of Rs. 38.0 crore YoY and +228.3% QoQ.
MAS Financial Services Ltd.: Net Revenue at Rs. 147.1 crore, -17.4% YoY and -2% QoQ. Net Profit at Rs. 36.4 crore, +8.6% YoY and +0.6% QoQ.
TCI Express Ltd.: Net Revenue at Rs. 279.8 crore, +17.6% YoY and +6.6% QoQ. EBITDA at Rs. 54.4 crore, +103.8% YoY and +19.9% QoQ. EBITDA Margin at 19.4%, +822 bps YoY and +216 bps QoQ. Net Profit at Rs. 42.6 crore, +123.9% YoY and +26.7% QoQ.
JK Tyre & Industries Ltd.: Net Revenue at Rs. 2927.3 crore, +63.1% YoY and +5.7% QoQ. EBITDA at Rs. 454.7 crore, +119.2% YoY and -9.1% QoQ. EBITDA Margin at 15.5%, +398 bps YoY and +-254 bps QoQ. Net Profit at Rs. 195.0 crore vs loss of Rs. 52.8 crore YoY and -15.4% QoQ.
INEOS Styrolution India Ltd.: Net Revenue at Rs. 636.6 crore, +77.3% YoY and +31.3% QoQ. EBITDA at Rs. 227.3 crore, +955.1% YoY and +57.7% QoQ. EBITDA Margin at 35.7%, +2971 bps YoY and +598 bps QoQ. Net Profit at Rs. 161.4 crore, +3524.5% YoY and +56.7% QoQ.
Heritage Foods Ltd.: Net Revenue at Rs. 619.4 crore, -5.1% YoY and +2.4% QoQ. EBITDA at Rs. 45.4 crore vs loss of Rs. 327.1 crore YoY and -20.8% QoQ. EBITDA Margin at 7.3%, +5746 bps YoY and +-215 bps QoQ. Net Profit at Rs. 24.2 crore vs loss of Rs. 209.9 crore YoY and -6.9% QoQ.
Clariant Chemicals (India) Ltd.: Net Revenue at Rs. 218.8 crore, +29.1% YoY and +8.3% QoQ. EBITDA at Rs. 26.8 crore, +112.1% YoY and +4.5% QoQ. EBITDA Margin at 12.3%, +480 bps YoY and +-44 bps QoQ. Net Profit at Rs. 11.0 crore, +2337.8% YoY and -16.9% QoQ.
Indian Oil Corporation Ltd.: Net Revenue at Rs. 165607.0 crore, +16.8% YoY and +12% QoQ. EBITDA at Rs. 14340.4 crore vs loss of Rs. 2688.9 crore YoY and +46.4% QoQ. EBITDA Margin at 8.7%, +1056 bps YoY and +203 bps QoQ. Net Profit at Rs. 9144.9 crore vs loss of Rs. 8565.5 crore YoY and +122.9% QoQ.
Endurance Technologies Ltd.: Net Revenue at Rs. 2132.9 crore, +33.6% YoY and +4.5% QoQ. EBITDA at Rs. 332.2 crore, +39.7% YoY and -5.7% QoQ. EBITDA Margin at 15.6%, +68 bps YoY and +-168 bps QoQ. Net Profit at Rs. 187.3 crore, +75.3% YoY and -1.5% QoQ.
Tanla Platforms Ltd.: Net Revenue at Rs. 648.6 crore, +24.2% YoY and -0.8% QoQ. EBITDA at Rs. 134.0 crore, +128.8% YoY and +5.6% QoQ. EBITDA Margin at 20.7%, +945 bps YoY and +127 bps QoQ. Net Profit at Rs. 102.5 crore vs loss of Rs. 89.1 crore YoY and +9.6% QoQ.
Indiabulls Housing Finance Ltd.: Net Revenue at Rs. 2422.0 crore, -17.9% YoY and -3.6% QoQ. Net Profit at Rs. 276.2 crore, +101.5% YoY and -16.1% QoQ.
Prism Johnson Ltd.: Net Revenue at Rs. 1850.2 crore, +24.8% YoY and +21.3% QoQ. EBITDA at Rs. 237.5 crore, +76.8% YoY and +24.8% QoQ. EBITDA Margin at 12.8%, +378 bps YoY and +36 bps QoQ. Net Profit at Rs. 157.4 crore vs loss of Rs. 38.0 crore YoY and +228.3% QoQ.
MAS Financial Services Ltd.: Net Revenue at Rs. 147.1 crore, -17.4% YoY and -2% QoQ. Net Profit at Rs. 36.4 crore, +8.6% YoY and +0.6% QoQ.
TCI Express Ltd.: Net Revenue at Rs. 279.8 crore, +17.6% YoY and +6.6% QoQ. EBITDA at Rs. 54.4 crore, +103.8% YoY and +19.9% QoQ. EBITDA Margin at 19.4%, +822 bps YoY and +216 bps QoQ. Net Profit at Rs. 42.6 crore, +123.9% YoY and +26.7% QoQ.
JK Tyre & Industries Ltd.: Net Revenue at Rs. 2927.3 crore, +63.1% YoY and +5.7% QoQ. EBITDA at Rs. 454.7 crore, +119.2% YoY and -9.1% QoQ. EBITDA Margin at 15.5%, +398 bps YoY and +-254 bps QoQ. Net Profit at Rs. 195.0 crore vs loss of Rs. 52.8 crore YoY and -15.4% QoQ.
INEOS Styrolution India Ltd.: Net Revenue at Rs. 636.6 crore, +77.3% YoY and +31.3% QoQ. EBITDA at Rs. 227.3 crore, +955.1% YoY and +57.7% QoQ. EBITDA Margin at 35.7%, +2971 bps YoY and +598 bps QoQ. Net Profit at Rs. 161.4 crore, +3524.5% YoY and +56.7% QoQ.
Heritage Foods Ltd.: Net Revenue at Rs. 619.4 crore, -5.1% YoY and +2.4% QoQ. EBITDA at Rs. 45.4 crore vs loss of Rs. 327.1 crore YoY and -20.8% QoQ. EBITDA Margin at 7.3%, +5746 bps YoY and +-215 bps QoQ. Net Profit at Rs. 24.2 crore vs loss of Rs. 209.9 crore YoY and -6.9% QoQ.
Clariant Chemicals (India) Ltd.: Net Revenue at Rs. 218.8 crore, +29.1% YoY and +8.3% QoQ. EBITDA at Rs. 26.8 crore, +112.1% YoY and +4.5% QoQ. EBITDA Margin at 12.3%, +480 bps YoY and +-44 bps QoQ. Net Profit at Rs. 11.0 crore, +2337.8% YoY and -16.9% QoQ.
Dear All
Nirmal Bang is inviting you to a Zoom webinar.
When: May 21, 2021 08:45 AM India
Topic: Morning Market Update
Register in advance for this webinar:
https://us02web.zoom.us/webinar/register/WN_15uFSTqfRmC5-6pATSeUsA
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Nirmal Bang is inviting you to a Zoom webinar.
When: May 21, 2021 08:45 AM India
Topic: Morning Market Update
Register in advance for this webinar:
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After registering, you will receive a confirmation email containing information about joining the webinar.
Zoom Video
Welcome! You are invited to join a webinar: Morning Market Update. After registering, you will receive a confirmation email about…
SRF LTD: BOARD’S APPROVAL FOR A PROJECT FOR SETTING-UP OF A RANGE OF DEDICATED PLANTS TO PRODUCE SPECIALTY CHEMICALS AT AN ESTIMATED COST OF 2.38B RUPEES
*Bosch Ltd.* | *CMP* Rs. 15980 | *M Cap* Rs. 47131 Cr | *52 W H/L* 16900/9100
(Nirmal Bang Retail Research)
*Result is ahead of expectation*
Revenue from Operations came at Rs. 3217.7 Cr (6.2% QoQ, 43.8% YoY) vs expectation of Rs. 3148.8 Cr, QoQ Rs. 3029.6 Cr, YoY Rs. 2236.9 Cr
EBIDTA came at Rs. 619.1 Cr (72.9% QoQ, 81.3% YoY) vs expectation of Rs. 451.7 Cr, QoQ Rs. 358.1 Cr, YoY Rs. 341.4 Cr
EBITDA Margin came at 19.2% vs expectation of 14.3%, QoQ 11.8%, YoY 15.3%
Adj. PAT came at Rs. 482 Cr vs expectation of Rs. 334.8 Cr, QoQ Rs. 332.4 Cr, YoY Rs. 378.1 Cr
Quarter EPS is Rs. 163.4
Share is trading at P/E of 33.5x FY22E EPS
(Nirmal Bang Retail Research)
*Result is ahead of expectation*
Revenue from Operations came at Rs. 3217.7 Cr (6.2% QoQ, 43.8% YoY) vs expectation of Rs. 3148.8 Cr, QoQ Rs. 3029.6 Cr, YoY Rs. 2236.9 Cr
EBIDTA came at Rs. 619.1 Cr (72.9% QoQ, 81.3% YoY) vs expectation of Rs. 451.7 Cr, QoQ Rs. 358.1 Cr, YoY Rs. 341.4 Cr
EBITDA Margin came at 19.2% vs expectation of 14.3%, QoQ 11.8%, YoY 15.3%
Adj. PAT came at Rs. 482 Cr vs expectation of Rs. 334.8 Cr, QoQ Rs. 332.4 Cr, YoY Rs. 378.1 Cr
Quarter EPS is Rs. 163.4
Share is trading at P/E of 33.5x FY22E EPS
*Acrysil Ltd.* | *CMP* Rs. 348 | *M Cap* Rs. 929 Cr | *52 W H/L* 398/59
(Nirmal Bang Retail Research)
*Result ok*
Revenue from Operations came at Rs. 100.6 Cr (15% QoQ, 56.4% YoY) vs QoQ Rs. 87.5 Cr, YoY Rs. 64.4 Cr
EBIDTA came at Rs. 20.3 Cr (0.5% QoQ, 105.7% YoY) vs QoQ Rs. 20.2 Cr, YoY Rs. 9.9 Cr
EBITDA Margin came at 20.2% vs QoQ 23.1%, YoY 15.3%
Adj. PAT came at Rs. 13.1 Cr vs QoQ Rs. 12.1 Cr, YoY Rs. 3.9 Cr
Quarter EPS is Rs. 4.9
Share is trading at P/E of 23.7x TTM EPS
(Nirmal Bang Retail Research)
*Result ok*
Revenue from Operations came at Rs. 100.6 Cr (15% QoQ, 56.4% YoY) vs QoQ Rs. 87.5 Cr, YoY Rs. 64.4 Cr
EBIDTA came at Rs. 20.3 Cr (0.5% QoQ, 105.7% YoY) vs QoQ Rs. 20.2 Cr, YoY Rs. 9.9 Cr
EBITDA Margin came at 20.2% vs QoQ 23.1%, YoY 15.3%
Adj. PAT came at Rs. 13.1 Cr vs QoQ Rs. 12.1 Cr, YoY Rs. 3.9 Cr
Quarter EPS is Rs. 4.9
Share is trading at P/E of 23.7x TTM EPS
*Relaxo Footwears Ltd.* | *CMP* Rs. 1020 | *M Cap* Rs. 25341 Cr | *52 W H/L* 1020/578
(Nirmal Bang Retail Research)
*Result is above expectations*
Revenue from Operations came at Rs. 747.7 Cr (11.3% QoQ, 38.3% YoY) vs expectation of Rs. 724.4 Cr, QoQ Rs. 672 Cr, YoY Rs. 540.6 Cr
EBIDTA came at Rs. 162.9 Cr (9.5% QoQ, 69.3% YoY) vs expectation of Rs. 149.5 Cr, QoQ Rs. 148.7 Cr, YoY Rs. 96.2 Cr
EBITDA Margin came at 21.8% vs expectation of 20.6%, QoQ 22.1%, YoY 17.8%
Adj. PAT came at Rs. 102.2 Cr vs expectation of Rs. 92.4 Cr, QoQ Rs. 90.1 Cr, YoY Rs. 51.8 Cr
Quarter EPS is Rs. 4.1
Share is trading at P/E of 81x FY22E EPS
(Nirmal Bang Retail Research)
*Result is above expectations*
Revenue from Operations came at Rs. 747.7 Cr (11.3% QoQ, 38.3% YoY) vs expectation of Rs. 724.4 Cr, QoQ Rs. 672 Cr, YoY Rs. 540.6 Cr
EBIDTA came at Rs. 162.9 Cr (9.5% QoQ, 69.3% YoY) vs expectation of Rs. 149.5 Cr, QoQ Rs. 148.7 Cr, YoY Rs. 96.2 Cr
EBITDA Margin came at 21.8% vs expectation of 20.6%, QoQ 22.1%, YoY 17.8%
Adj. PAT came at Rs. 102.2 Cr vs expectation of Rs. 92.4 Cr, QoQ Rs. 90.1 Cr, YoY Rs. 51.8 Cr
Quarter EPS is Rs. 4.1
Share is trading at P/E of 81x FY22E EPS
*IIFL Wealth Q4FY21 Concall Update*
(Nirmal Bang Securities)
*Steady growth to continue; rising mix of Recurring Revenue to gradually increase ROE*
*Outlook: Neutral due to stretched valuations*
*ARR (Annual Recurring Revenue* (63% of revenue)
• Revenue grew 4.3% QoQ to Rs 161 Cr
• Total Assets (Wealth + AMC) increased 12.7% QoQ & 63% YoY to Rs. 1,01,969 Cr
• AMC AUM increased 15% QoQ to Rs. 37,372 Cr. Of this AUM, Rs. 11,196 Cr s from PMS; Rs. 2476 Cr is from MF and Rs. 23,700 Cr is from AIF. (AIF typically has lesser yields than PMS and MF but higher than Wealth business).
• Revenue mix of ARR segment has increased from 40% in FY19 to 63% in FY21 and is likely to increase to 75% in future.
*Transactional / Brokerage Revenue* (37% of revenue)
• Revenue grew 23.4% QoQ to Rs 105 Cr
• Brokerage Assets declined -4.5% QoQ & 11% YoY to Rs. 1,05,074 Cr
*Consolidated Operations*
• Co is planning to sell its office location and lease it back which will provide some capital that can be utilized to give a one time dividend.
• This sale of office should result in reduction in Networth which will also contribute to increase in ROE.
_Networth of Rs 2830 Cr split up:-_
• NBFC: 1130 Cr
• Wealth Management: 500 Cr
• Asset Management: 390 Cr
• Goodwill: 370 Cr
• Intangibles: 150 Cr
• Fixed Assets: 290 Cr
*Guidance*
• Co is expecting Rs. 20k Cr inflows during FY22 spread equally between the 2 segments.
• Co expects total AUM growing by 19% in FY22 and by 16% in FY23.
• C/I to reduce to 50% over time. (from 53.0% in Q4FY21)
• (C/I today in wealth is 57% and in Asset Management is 50%)
• Profit to reach Rs 450 Cr in FY22 & Rs 525 Cr in FY23.
• ROE to increase to 15% in FY22 and to 19-20% in FY23. (from 14.2% in Q4FY21)
• Dividend payout to remain at 60-80%.
Stock is trading at P/E of 28x TTM EPS against 31x for Nippon Asset Management which has much higher ROE of 22% (vs 14% for IIFL Wealth)
(Nirmal Bang Securities)
*Steady growth to continue; rising mix of Recurring Revenue to gradually increase ROE*
*Outlook: Neutral due to stretched valuations*
*ARR (Annual Recurring Revenue* (63% of revenue)
• Revenue grew 4.3% QoQ to Rs 161 Cr
• Total Assets (Wealth + AMC) increased 12.7% QoQ & 63% YoY to Rs. 1,01,969 Cr
• AMC AUM increased 15% QoQ to Rs. 37,372 Cr. Of this AUM, Rs. 11,196 Cr s from PMS; Rs. 2476 Cr is from MF and Rs. 23,700 Cr is from AIF. (AIF typically has lesser yields than PMS and MF but higher than Wealth business).
• Revenue mix of ARR segment has increased from 40% in FY19 to 63% in FY21 and is likely to increase to 75% in future.
*Transactional / Brokerage Revenue* (37% of revenue)
• Revenue grew 23.4% QoQ to Rs 105 Cr
• Brokerage Assets declined -4.5% QoQ & 11% YoY to Rs. 1,05,074 Cr
*Consolidated Operations*
• Co is planning to sell its office location and lease it back which will provide some capital that can be utilized to give a one time dividend.
• This sale of office should result in reduction in Networth which will also contribute to increase in ROE.
_Networth of Rs 2830 Cr split up:-_
• NBFC: 1130 Cr
• Wealth Management: 500 Cr
• Asset Management: 390 Cr
• Goodwill: 370 Cr
• Intangibles: 150 Cr
• Fixed Assets: 290 Cr
*Guidance*
• Co is expecting Rs. 20k Cr inflows during FY22 spread equally between the 2 segments.
• Co expects total AUM growing by 19% in FY22 and by 16% in FY23.
• C/I to reduce to 50% over time. (from 53.0% in Q4FY21)
• (C/I today in wealth is 57% and in Asset Management is 50%)
• Profit to reach Rs 450 Cr in FY22 & Rs 525 Cr in FY23.
• ROE to increase to 15% in FY22 and to 19-20% in FY23. (from 14.2% in Q4FY21)
• Dividend payout to remain at 60-80%.
Stock is trading at P/E of 28x TTM EPS against 31x for Nippon Asset Management which has much higher ROE of 22% (vs 14% for IIFL Wealth)
*USHA MARTIN LTD.* | *CMP* Rs. 55 | *M Cap* Rs. 1670 Cr | *52 W H/L* 58/13
(Nirmal Bang Retail Research)
*Result improved*
Revenue from Operations came at Rs. 652.9 Cr (18.8% QoQ, 26.9% YoY) vs QoQ Rs. 549.8 Cr, YoY Rs. 514.7 Cr
EBIDTA came at Rs. 103 Cr (52.1% QoQ, 101.1% YoY) vs QoQ Rs. 67.7 Cr, YoY Rs. 51.2 Cr
EBITDA Margin came at 15.8% vs QoQ 12.3%, YoY 10%
Adj. PAT came at Rs. 67.8 Cr vs QoQ Rs. 37.4 Cr, YoY Rs. 0.4 Cr
Quarter EPS is Rs. 2.2
Share is trading at P/E of 11.2x TTM EPS
(Nirmal Bang Retail Research)
*Result improved*
Revenue from Operations came at Rs. 652.9 Cr (18.8% QoQ, 26.9% YoY) vs QoQ Rs. 549.8 Cr, YoY Rs. 514.7 Cr
EBIDTA came at Rs. 103 Cr (52.1% QoQ, 101.1% YoY) vs QoQ Rs. 67.7 Cr, YoY Rs. 51.2 Cr
EBITDA Margin came at 15.8% vs QoQ 12.3%, YoY 10%
Adj. PAT came at Rs. 67.8 Cr vs QoQ Rs. 37.4 Cr, YoY Rs. 0.4 Cr
Quarter EPS is Rs. 2.2
Share is trading at P/E of 11.2x TTM EPS