HFCL: CO TO BUILD PORTFOLIO OF 5G PRODUCTS FOR INDIAN, FOREIGN MARKETS - THE HINDU
*Natco Pharma Ltd.* | *CMP* Rs. 1084 | *M Cap* Rs. 19757 Cr | *52 W H/L* 1189/590
(Nirmal Bang Retail Research)
*Result is below expectations*
Revenue from Operations came at Rs. 331.3 Cr (-6.7% QoQ, -27.2% YoY) vs expectation of Rs. 450.8 Cr, QoQ Rs. 355.2 Cr, YoY Rs. 454.8 Cr
EBIDTA came at Rs. 76.2 Cr (-7.6% QoQ, -40.6% YoY) vs expectation of Rs. 123.8 Cr, QoQ Rs. 82.5 Cr, YoY Rs. 128.3 Cr
EBITDA Margin came at 23% vs expectation of 27.5%, QoQ 23.2%, YoY 28.2%
Adj. PAT came at Rs. 53 Cr vs expectation of Rs. 93.1 Cr, QoQ Rs. 62.7 Cr, YoY Rs. 94.1 Cr
Quarter EPS is Rs. 2.9
Share is trading at P/E of 35x FY22E EPS
(Nirmal Bang Retail Research)
*Result is below expectations*
Revenue from Operations came at Rs. 331.3 Cr (-6.7% QoQ, -27.2% YoY) vs expectation of Rs. 450.8 Cr, QoQ Rs. 355.2 Cr, YoY Rs. 454.8 Cr
EBIDTA came at Rs. 76.2 Cr (-7.6% QoQ, -40.6% YoY) vs expectation of Rs. 123.8 Cr, QoQ Rs. 82.5 Cr, YoY Rs. 128.3 Cr
EBITDA Margin came at 23% vs expectation of 27.5%, QoQ 23.2%, YoY 28.2%
Adj. PAT came at Rs. 53 Cr vs expectation of Rs. 93.1 Cr, QoQ Rs. 62.7 Cr, YoY Rs. 94.1 Cr
Quarter EPS is Rs. 2.9
Share is trading at P/E of 35x FY22E EPS
*Novartis India Ltd.* | *CMP* Rs. 867 | *M Cap* Rs. 2141 Cr | *52 W H/L* 867/530
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 99.3 Cr (5.9% QoQ, 6% YoY) vs QoQ Rs. 93.8 Cr, YoY Rs. 93.7 Cr
EBIDTA came at Rs. 15.3 Cr (-630.2% QoQ, 38.7% YoY) vs QoQ Rs. -2.9 Cr, YoY Rs. 11 Cr
EBITDA Margin came at 15.4% vs QoQ -3.1%, YoY 11.8%
Adj. PAT came at Rs. 9.7 Cr vs QoQ Rs. -0.7 Cr, YoY Rs. 6.8 Cr
Quarter EPS is Rs. 3.9
Share is trading at P/E of 102.4x TTM EPS
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 99.3 Cr (5.9% QoQ, 6% YoY) vs QoQ Rs. 93.8 Cr, YoY Rs. 93.7 Cr
EBIDTA came at Rs. 15.3 Cr (-630.2% QoQ, 38.7% YoY) vs QoQ Rs. -2.9 Cr, YoY Rs. 11 Cr
EBITDA Margin came at 15.4% vs QoQ -3.1%, YoY 11.8%
Adj. PAT came at Rs. 9.7 Cr vs QoQ Rs. -0.7 Cr, YoY Rs. 6.8 Cr
Quarter EPS is Rs. 3.9
Share is trading at P/E of 102.4x TTM EPS
*Coal India Ltd*
Concall Update
*Outlook: Neutral*
Company has achievable Dispatch target of 650mnT in FY22 VS last year 573mnT
Company is targeting capex of Rs.17000cr in FY22 and also around Rs.17000cr in FY23 vs Rs.13000cr in FY21
Company is targeting to reduce Receivable by Rs.3000-4000cr from elevated level of Rr.17000cr
April May June in current year production and dispatch are good.
Q4FY21 had additional liability of Gratuity of around Rs.1000cr in employee cost
As per management recent Amendment to MMDR act is applicable to Iron ore mine and not to Coal India as its land is not on lease as such additional Royalty will not be applicable
*Company is not likely to benefit much from international increase in coal price as demand for company coal which is low quality is low. As such even after international coal price reaching to multiple year high company was not able to benefit much increase.*
Share is trading at 4.25x EV/EBITDA of FY22 at 10.5% dividend yield of FY21 dividend of Rs.16.
Concall Update
*Outlook: Neutral*
Company has achievable Dispatch target of 650mnT in FY22 VS last year 573mnT
Company is targeting capex of Rs.17000cr in FY22 and also around Rs.17000cr in FY23 vs Rs.13000cr in FY21
Company is targeting to reduce Receivable by Rs.3000-4000cr from elevated level of Rr.17000cr
April May June in current year production and dispatch are good.
Q4FY21 had additional liability of Gratuity of around Rs.1000cr in employee cost
As per management recent Amendment to MMDR act is applicable to Iron ore mine and not to Coal India as its land is not on lease as such additional Royalty will not be applicable
*Company is not likely to benefit much from international increase in coal price as demand for company coal which is low quality is low. As such even after international coal price reaching to multiple year high company was not able to benefit much increase.*
Share is trading at 4.25x EV/EBITDA of FY22 at 10.5% dividend yield of FY21 dividend of Rs.16.
Bulk Deal as on 17-06-21
Advenzymes
- 31 Lk @ 400.2 Advanced Vital Enzymes Ltd
+ 11 Lk @ 400.06 Plutus Wealth Management LLP
Bengalasm
- 72 K @ Hari Shankar Singhania Holdings Pvt Ltd
Bajaj Hindustan Sugar
- 60.24 Lk @ 15.95 Ramlal Kanwarlal Jain
Globus Spirits Ltd
+ 7.25 Lk @ 495.02 OLD BRIDGE CAPITAL MANAGEMENT PRIVATE LIMITED
- 8.93 Lk @ 490.16 TEMPLETON STRATEGIC EMERGING MARKETS FUND IV LDC
HEG Ltd
+ 1 Lk @ 2180 PURVI VANIJYA NIYOJAN LTD
- 1 Lk @ 2180 RIJU JHUNJHUNWALA
Max Fin Serv Ltd
+ 60.13 Lk @ 1000 GOVERNMENT OF SINGAPORE
- 78.28 Lk @ 1000.08 MAX VENTURES INVESTMENT HOLDINGS PRIVATE LIMITED
Tourism Finance Corp
+ 4.16 Lk @ 79.58 BRIGHT METAL REFINERS
Advenzymes
- 31 Lk @ 400.2 Advanced Vital Enzymes Ltd
+ 11 Lk @ 400.06 Plutus Wealth Management LLP
Bengalasm
- 72 K @ Hari Shankar Singhania Holdings Pvt Ltd
Bajaj Hindustan Sugar
- 60.24 Lk @ 15.95 Ramlal Kanwarlal Jain
Globus Spirits Ltd
+ 7.25 Lk @ 495.02 OLD BRIDGE CAPITAL MANAGEMENT PRIVATE LIMITED
- 8.93 Lk @ 490.16 TEMPLETON STRATEGIC EMERGING MARKETS FUND IV LDC
HEG Ltd
+ 1 Lk @ 2180 PURVI VANIJYA NIYOJAN LTD
- 1 Lk @ 2180 RIJU JHUNJHUNWALA
Max Fin Serv Ltd
+ 60.13 Lk @ 1000 GOVERNMENT OF SINGAPORE
- 78.28 Lk @ 1000.08 MAX VENTURES INVESTMENT HOLDINGS PRIVATE LIMITED
Tourism Finance Corp
+ 4.16 Lk @ 79.58 BRIGHT METAL REFINERS