*SBI Cards & Payments Company Ltd.* | *CMP* Rs. 957 | *M Cap* Rs. 90058 Cr | *52 W H/L* 77/30
(Nirmal Bang Retail Research)
*Result is above expectations* due to improvement in asset quality
NII came at Rs. 924 Cr vs expectation of Rs. 895 Cr, YoY Rs. 1137 Cr, QoQ Rs. 828 Cr
Income from fees and service came at Rs. 1099 Cr vs expectation of Rs. 1209 Cr, YoY Rs. 668 Cr, QoQ Rs. 1114 Cr
Total Revenue came at Rs. 2222 Cr vs expectation of Rs. 2133 Cr, YoY Rs. 1921 Cr, QoQ Rs. 2224 Cr
PBP came at Rs. 1054 Cr vs expectation of Rs. 1002 Cr, YoY Rs. 1014 Cr, QoQ Rs. 878 Cr
Provisions came at Rs. 644 Cr vs expectation of Rs. 616 Cr, YoY Rs. 485 Cr, QoQ Rs. 643 Cr
PAT came at Rs. 305 Cr vs expectation of Rs. 288 Cr, YoY Rs. 393 Cr, QoQ Rs. 175 Cr
Advances came at Rs. 24438 Cr vs YoY Rs. 23330 Cr, QoQ Rs. 25114 Cr
Gross NPA came at Rs. 956 Cr vs QoQ Rs. 1253 Cr at 3.91% vs QoQ 4.99%
Net NPA came at Rs. 215 Cr vs QoQ Rs. 289 Cr at 0.88% vs QoQ 1.15%
RBI RE (Gross restructured book) has declined to Rs. 1376 Cr (5.6%) from QoQ Rs. 1908 Cr (7.6%)
Co holds covid provisions of Rs. 258 Cr (1.1%) vs QoQ Rs. 300 Cr (1.2%)
Share is trading at P/E of 36.2x FY23E EPS
(Nirmal Bang Retail Research)
*Result is above expectations* due to improvement in asset quality
NII came at Rs. 924 Cr vs expectation of Rs. 895 Cr, YoY Rs. 1137 Cr, QoQ Rs. 828 Cr
Income from fees and service came at Rs. 1099 Cr vs expectation of Rs. 1209 Cr, YoY Rs. 668 Cr, QoQ Rs. 1114 Cr
Total Revenue came at Rs. 2222 Cr vs expectation of Rs. 2133 Cr, YoY Rs. 1921 Cr, QoQ Rs. 2224 Cr
PBP came at Rs. 1054 Cr vs expectation of Rs. 1002 Cr, YoY Rs. 1014 Cr, QoQ Rs. 878 Cr
Provisions came at Rs. 644 Cr vs expectation of Rs. 616 Cr, YoY Rs. 485 Cr, QoQ Rs. 643 Cr
PAT came at Rs. 305 Cr vs expectation of Rs. 288 Cr, YoY Rs. 393 Cr, QoQ Rs. 175 Cr
Advances came at Rs. 24438 Cr vs YoY Rs. 23330 Cr, QoQ Rs. 25114 Cr
Gross NPA came at Rs. 956 Cr vs QoQ Rs. 1253 Cr at 3.91% vs QoQ 4.99%
Net NPA came at Rs. 215 Cr vs QoQ Rs. 289 Cr at 0.88% vs QoQ 1.15%
RBI RE (Gross restructured book) has declined to Rs. 1376 Cr (5.6%) from QoQ Rs. 1908 Cr (7.6%)
Co holds covid provisions of Rs. 258 Cr (1.1%) vs QoQ Rs. 300 Cr (1.2%)
Share is trading at P/E of 36.2x FY23E EPS
Dear All,,
Nirmal Bang is inviting you to a Zoom webinar.
When: Jul 26, 2021 08:45 AM India
Topic: Morning Market Update
Register in advance for this webinar:
https://us02web.zoom.us/webinar/register/WN_q2nJ6ewUQ3y0Y7XD5s0gXQ
After registering, you will receive a confirmation email containing information about joining the webinar.
Nirmal Bang is inviting you to a Zoom webinar.
When: Jul 26, 2021 08:45 AM India
Topic: Morning Market Update
Register in advance for this webinar:
https://us02web.zoom.us/webinar/register/WN_q2nJ6ewUQ3y0Y7XD5s0gXQ
After registering, you will receive a confirmation email containing information about joining the webinar.
Zoom Video Communications
Welcome! You are invited to join a webinar: Morning Market Update. After registering, you will receive a confirmation email about…
Follow this link to join my WhatsApp group: https://chat.whatsapp.com/EJklaapxwFOKnE6f8UBJ6B
ITC Q1 EXPECTATIONS
Revenue 11568 v 8911. Up 29.8%
PAT 3219 v 2645 up 37.4
EBIDTA 3889 v 2645 up 47%
EBIDTA MARGIN 33% v29.7%
MERA ITC 😍😍😍
Revenue 11568 v 8911. Up 29.8%
PAT 3219 v 2645 up 37.4
EBIDTA 3889 v 2645 up 47%
EBIDTA MARGIN 33% v29.7%
MERA ITC 😍😍😍
What Premium Members Get
Positional Call
Mid Term Calls
Intraday Call (Very few but confirm)
Delivery Call
Future Call
Option Calls
Option Strategies
Swing Trades
Super Duper Calls
Bumper Calls
Newsletter
SIP Stocks
What normal member gets
Super Duper Calls
Bumper Calls
Newsletter
SIP Stocks
Premium Members Get pre entry in all Super Duper , Bumper and majority Newsletter Stocks.
Thanks & Regards.
Positional Call
Mid Term Calls
Intraday Call (Very few but confirm)
Delivery Call
Future Call
Option Calls
Option Strategies
Swing Trades
Super Duper Calls
Bumper Calls
Newsletter
SIP Stocks
What normal member gets
Super Duper Calls
Bumper Calls
Newsletter
SIP Stocks
Premium Members Get pre entry in all Super Duper , Bumper and majority Newsletter Stocks.
Thanks & Regards.
📢📢📢
Good Afternoon to all Members
This month marks up a successful completion of our 1 year journey with Market Wizard Premium Group
Throughout this one year , many new members joined, many left, some availed monthly Membership and some availed Yearly Membership.
On our successful completion of 1 year we have introduced some offers for those who want to avail our Quarterly Membership and Yearly Membership.
Members those who want to avail membership for August following are the charges:
Monthly - 1k
Quarterly - 3k
Yearly - 9k
Group Discounts (On Member's Request)
Group of 5 members - 4k (Monthly)
Group of 5 members- 12k (Quarterly)
Incase of Group of 5 members all the members are requested to fill the form.
Revision of Charges from September month and onwards :
Monthly - 1.5k
Quarterly- 4k
Yearly - 15k
Please take note of revised charges. Members making payments between 11th July to 23rd July will given 1 week extra benefits and will be added in Premium Group on 23rd July Evening.
Thanks and Regards
Good Afternoon to all Members
This month marks up a successful completion of our 1 year journey with Market Wizard Premium Group
Throughout this one year , many new members joined, many left, some availed monthly Membership and some availed Yearly Membership.
On our successful completion of 1 year we have introduced some offers for those who want to avail our Quarterly Membership and Yearly Membership.
Members those who want to avail membership for August following are the charges:
Monthly - 1k
Quarterly - 3k
Yearly - 9k
Group Discounts (On Member's Request)
Group of 5 members - 4k (Monthly)
Group of 5 members- 12k (Quarterly)
Incase of Group of 5 members all the members are requested to fill the form.
Revision of Charges from September month and onwards :
Monthly - 1.5k
Quarterly- 4k
Yearly - 15k
Please take note of revised charges. Members making payments between 11th July to 23rd July will given 1 week extra benefits and will be added in Premium Group on 23rd July Evening.
Thanks and Regards
🔴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 between 23rd to 30th 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.
2️⃣2️⃣ Calls to our Premium Members shall be provided on our Telegram Channel Only.We won't be broadcasting any calls personally nor creating any WhatsApp Group.
🔴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 between 23rd to 30th 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.
2️⃣2️⃣ Calls to our Premium Members shall be provided on our Telegram Channel Only.We won't be broadcasting any calls personally nor creating any WhatsApp Group.
🔴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
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
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…
MARKET WIZARD NEWSLETTER ISSUE 20.pdf
1.7 MB
MARKET WIZARD NEWSLETTER ISSUE 20
🎯Fundamental Stocks
▶️ Prestige Estate
▶️ Sundaram Clayton
🎯Technical Stocks
▶️ Force Motors - SPECIAL PICK
▶️ Jyothy Lab
▶️ Kirloskar Oil Eng
▶️ Rane Holding
▶️ SDBL
TEAM MARKET WIZARD
🎯Fundamental Stocks
▶️ Prestige Estate
▶️ Sundaram Clayton
🎯Technical Stocks
▶️ Force Motors - SPECIAL PICK
▶️ Jyothy Lab
▶️ Kirloskar Oil Eng
▶️ Rane Holding
▶️ SDBL
TEAM MARKET WIZARD
❤1
Follow this link to join my WhatsApp group: https://chat.whatsapp.com/EJklaapxwFOKnE6f8UBJ6B
*Reliance Industries Ltd.* | *CMP* Rs. 2105 | *M Cap* Rs. 1334453 Cr | *52 W H/L* 2375/1746
(Nirmal Bang Retail Research)
*Result is marginally above expectations*
Revenue from Operations came at Rs. 139949 Cr (-6.4% QoQ, 58.6% YoY) vs expectation of Rs. 146946.8 Cr, QoQ Rs. 149575 Cr, YoY Rs. 88253 Cr
EBIDTA came at Rs. 23368 Cr (0.1% QoQ, 38.5% YoY) vs expectation of Rs. 23549.3 Cr, QoQ Rs. 23351 Cr, YoY Rs. 16875 Cr
EBITDA Margin came at 16.7% vs expectation of 16%, QoQ 15.6%, YoY 19.1%
Adj. PAT came at Rs. 13806 Cr vs expectation of Rs. 13040.2 Cr, QoQ Rs. 12430 Cr, YoY Rs. 8267 Cr
Quarter EPS is Rs. 21.8
Share is trading at P/E of 23.7x FY22E EPS
*O2C* EBITDA came at Rs 12231cr vs qoq Rs 11407cr yoy Rs 8166cr
*Retail* Sales grew by 21.9% yoy and *EBITDA Margin* came at 5.8% vs qoq 8.8% yoy 3.8%
*Digital*
*Digital Consol Revenue* came at Rs. 23403 Cr (9.8% YoY, 3.4% QoQ)
*Jio*
*Jio Revenue* came at Rs. 18952 Cr (9.8% YoY, 3.7% QoQ)
*Jio EBITDA* came at Rs. 8892 Cr (21.3% YoY, 3.7% QoQ)
*EBITDA Margins* were 46.9%, YoY 46.9%, QoQ 42.5%
*Jio* ARPU came at Rs. 138.4 vs QoQ Rs138.2, up 0.1% QoQ
*Subscriber Base* increased by 3.4% QoQ
(Nirmal Bang Retail Research)
*Result is marginally above expectations*
Revenue from Operations came at Rs. 139949 Cr (-6.4% QoQ, 58.6% YoY) vs expectation of Rs. 146946.8 Cr, QoQ Rs. 149575 Cr, YoY Rs. 88253 Cr
EBIDTA came at Rs. 23368 Cr (0.1% QoQ, 38.5% YoY) vs expectation of Rs. 23549.3 Cr, QoQ Rs. 23351 Cr, YoY Rs. 16875 Cr
EBITDA Margin came at 16.7% vs expectation of 16%, QoQ 15.6%, YoY 19.1%
Adj. PAT came at Rs. 13806 Cr vs expectation of Rs. 13040.2 Cr, QoQ Rs. 12430 Cr, YoY Rs. 8267 Cr
Quarter EPS is Rs. 21.8
Share is trading at P/E of 23.7x FY22E EPS
*O2C* EBITDA came at Rs 12231cr vs qoq Rs 11407cr yoy Rs 8166cr
*Retail* Sales grew by 21.9% yoy and *EBITDA Margin* came at 5.8% vs qoq 8.8% yoy 3.8%
*Digital*
*Digital Consol Revenue* came at Rs. 23403 Cr (9.8% YoY, 3.4% QoQ)
*Jio*
*Jio Revenue* came at Rs. 18952 Cr (9.8% YoY, 3.7% QoQ)
*Jio EBITDA* came at Rs. 8892 Cr (21.3% YoY, 3.7% QoQ)
*EBITDA Margins* were 46.9%, YoY 46.9%, QoQ 42.5%
*Jio* ARPU came at Rs. 138.4 vs QoQ Rs138.2, up 0.1% QoQ
*Subscriber Base* increased by 3.4% QoQ
*Jubilant Pharmova Ltd.* | *CMP* Rs. 697 | *M Cap* Rs. 11096 Cr | *52 W H/L* 697/0
(Nirmal Bang Retail Research)
*Result is inline with expectations*
Revenue from Operations came at Rs. 1634.7 Cr (3.5% QoQ, 41.4% YoY) vs expectation of Rs. 1715.2 Cr, QoQ Rs. 1579.8 Cr, YoY Rs. 1156.1 Cr
EBIDTA came at Rs. 375.2 Cr (0.2% QoQ, 109.3% YoY) vs expectation of Rs. 381.7 Cr, QoQ Rs. 374.6 Cr, YoY Rs. 179.3 Cr
EBITDA Margin came at 23% vs expectation of 22.3%, QoQ 23.7%, YoY 15.5%
Adj. PAT came at Rs. 160.5 Cr vs expectation of Rs. 227.5 Cr, QoQ Rs. 183 Cr, YoY Rs. 35.4 Cr
Quarter EPS is Rs. 10.1
Share is trading at P/E of 12.8x FY22E EPS
(Nirmal Bang Retail Research)
*Result is inline with expectations*
Revenue from Operations came at Rs. 1634.7 Cr (3.5% QoQ, 41.4% YoY) vs expectation of Rs. 1715.2 Cr, QoQ Rs. 1579.8 Cr, YoY Rs. 1156.1 Cr
EBIDTA came at Rs. 375.2 Cr (0.2% QoQ, 109.3% YoY) vs expectation of Rs. 381.7 Cr, QoQ Rs. 374.6 Cr, YoY Rs. 179.3 Cr
EBITDA Margin came at 23% vs expectation of 22.3%, QoQ 23.7%, YoY 15.5%
Adj. PAT came at Rs. 160.5 Cr vs expectation of Rs. 227.5 Cr, QoQ Rs. 183 Cr, YoY Rs. 35.4 Cr
Quarter EPS is Rs. 10.1
Share is trading at P/E of 12.8x FY22E EPS
*Ambuja Cements Ltd. - S* | *CMP* Rs. 402 | *M Cap* Rs. 79873 Cr | *52 W H/L* 410/197
(Nirmal Bang Retail Research)
*Result is above expectation*
Revenue from Operations came at Rs. 3371.2 Cr (-6.9% QoQ, 54.9% YoY) vs expectation of Rs. 3099.2 Cr, QoQ Rs. 3621.4 Cr, YoY Rs. 2176.8 Cr
Volume came at 6.42 mnt down by 10% QoQ but up by 53% YoY
Realisation/T grew by 4% QoQ and flattish YoY at Rs 5251 Cr.
EBIDTA came at Rs. 959.7 Cr (-1.8% QoQ, 61.2% YoY) vs expectation of Rs. 778.1 Cr, QoQ Rs. 976.8 Cr, YoY Rs. 595.2 Cr
EBITDA Margin came at 28.5% vs expectation of 25.1%, QoQ 27%, YoY 27.3%
EBITDA/T came at Rs 1495 Cr up by 10% QoQ and 5% YoY.
Adj. PAT came at Rs. 723.1 Cr vs expectation of Rs. 567.2 Cr, QoQ Rs. 664.6 Cr, YoY Rs. 453.4 Cr
Quarter EPS is Rs. 3.6
Share is trading at EV/EBITDA of 19.82x FY23E EBITDA
(Nirmal Bang Retail Research)
*Result is above expectation*
Revenue from Operations came at Rs. 3371.2 Cr (-6.9% QoQ, 54.9% YoY) vs expectation of Rs. 3099.2 Cr, QoQ Rs. 3621.4 Cr, YoY Rs. 2176.8 Cr
Volume came at 6.42 mnt down by 10% QoQ but up by 53% YoY
Realisation/T grew by 4% QoQ and flattish YoY at Rs 5251 Cr.
EBIDTA came at Rs. 959.7 Cr (-1.8% QoQ, 61.2% YoY) vs expectation of Rs. 778.1 Cr, QoQ Rs. 976.8 Cr, YoY Rs. 595.2 Cr
EBITDA Margin came at 28.5% vs expectation of 25.1%, QoQ 27%, YoY 27.3%
EBITDA/T came at Rs 1495 Cr up by 10% QoQ and 5% YoY.
Adj. PAT came at Rs. 723.1 Cr vs expectation of Rs. 567.2 Cr, QoQ Rs. 664.6 Cr, YoY Rs. 453.4 Cr
Quarter EPS is Rs. 3.6
Share is trading at EV/EBITDA of 19.82x FY23E EBITDA
*United Spirits Ltd.* | *CMP* Rs. 683 | *M Cap* Rs. 49629 Cr | *52 W H/L* 684/494
(Nirmal Bang Retail Research)
Volumes came at 61% vs expectation of 53.2%, QoQ 0.6%, YoY -20%
*Result Inline with Expectation*
Revenue from Operations came at Rs. 1615.1 Cr (-27.4% QoQ, 56.8% YoY) vs expectation of Rs. 1642.5 Cr, QoQ Rs. 2224.4 Cr, YoY Rs. 1030.2 Cr
EBIDTA came at Rs. 167.7 Cr (-59.3% QoQ, -316.1% YoY) vs expectation of Rs. 162.5 Cr, QoQ Rs. 411.8 Cr, YoY Rs. -77.6 Cr
EBITDA Margin came at 10.4% vs expectation of 9.9%, QoQ 18.5%, YoY -7.5%
Adj. PAT came at Rs. 105.5 Cr vs expectation of Rs. 62.9 Cr, QoQ Rs. 243.7 Cr, YoY Rs. -140.3 Cr
Quarter EPS is Rs. 1.5
Share is trading at P/E of 56.4x FY22E EPS
(Nirmal Bang Retail Research)
Volumes came at 61% vs expectation of 53.2%, QoQ 0.6%, YoY -20%
*Result Inline with Expectation*
Revenue from Operations came at Rs. 1615.1 Cr (-27.4% QoQ, 56.8% YoY) vs expectation of Rs. 1642.5 Cr, QoQ Rs. 2224.4 Cr, YoY Rs. 1030.2 Cr
EBIDTA came at Rs. 167.7 Cr (-59.3% QoQ, -316.1% YoY) vs expectation of Rs. 162.5 Cr, QoQ Rs. 411.8 Cr, YoY Rs. -77.6 Cr
EBITDA Margin came at 10.4% vs expectation of 9.9%, QoQ 18.5%, YoY -7.5%
Adj. PAT came at Rs. 105.5 Cr vs expectation of Rs. 62.9 Cr, QoQ Rs. 243.7 Cr, YoY Rs. -140.3 Cr
Quarter EPS is Rs. 1.5
Share is trading at P/E of 56.4x FY22E EPS
Bulk Deal as on 23-07-21
Apollo Pipes Ltd
+ 1.60 Lk @ 1001.1 SDM Enterprises
- 2.73 Lk @ 1001.89 Ashish Ramchandra Kacholia
Indo National
- 20 K @ 1088.12 Hdfc Bank Ltd
Infibeam Avenues
- 71.76 Lk @ 45.96 Ravi Omprakash Agrawal
Apollo Pipes Ltd
+ 1.60 Lk @ 1001.1 SDM Enterprises
- 2.73 Lk @ 1001.89 Ashish Ramchandra Kacholia
Indo National
- 20 K @ 1088.12 Hdfc Bank Ltd
Infibeam Avenues
- 71.76 Lk @ 45.96 Ravi Omprakash Agrawal
*Reliance Industries Ltd.* | *CMP* Rs. 2105 | *M Cap* Rs. 1334453 Cr | *52 W H/L* 2375/1746
(Nirmal Bang Retail Research)
*Result is marginally above expectations*
Revenue from Operations came at Rs. 139949 Cr (-6.4% QoQ, 58.6% YoY) vs expectation of Rs. 146946.8 Cr, QoQ Rs. 149575 Cr, YoY Rs. 88253 Cr
EBIDTA came at Rs. 23368 Cr (0.1% QoQ, 38.5% YoY) vs expectation of Rs. 23549.3 Cr, QoQ Rs. 23351 Cr, YoY Rs. 16875 Cr
EBITDA Margin came at 16.7% vs expectation of 16%, QoQ 15.6%, YoY 19.1%
Adj. PAT came at Rs. 13806 Cr vs expectation of Rs. 13040.2 Cr, QoQ Rs. 12430 Cr, YoY Rs. 8267 Cr
Quarter EPS is Rs. 21.8
Share is trading at P/E of 23.7x FY22E EPS
*O2C* EBITDA came at Rs 12231cr vs qoq Rs 11407cr yoy Rs 8166cr
*Retail* Sales grew by 21.9% yoy and *EBITDA Margin* came at 5.8% vs qoq 8.8% yoy 3.8%
*Digital*
*Digital Consol Revenue* came at Rs. 23403 Cr (9.8% YoY, 3.4% QoQ)
*Jio*
*Jio Revenue* came at Rs. 18952 Cr (9.8% YoY, 3.7% QoQ)
*Jio EBITDA* came at Rs. 8892 Cr (21.3% YoY, 3.7% QoQ)
*EBITDA Margins* were 46.9%, YoY 46.9%, QoQ 42.5%
*Jio* ARPU came at Rs. 138.4 vs QoQ Rs138.2, up 0.1% QoQ
*Subscriber Base* increased by 3.4% QoQ
(Nirmal Bang Retail Research)
*Result is marginally above expectations*
Revenue from Operations came at Rs. 139949 Cr (-6.4% QoQ, 58.6% YoY) vs expectation of Rs. 146946.8 Cr, QoQ Rs. 149575 Cr, YoY Rs. 88253 Cr
EBIDTA came at Rs. 23368 Cr (0.1% QoQ, 38.5% YoY) vs expectation of Rs. 23549.3 Cr, QoQ Rs. 23351 Cr, YoY Rs. 16875 Cr
EBITDA Margin came at 16.7% vs expectation of 16%, QoQ 15.6%, YoY 19.1%
Adj. PAT came at Rs. 13806 Cr vs expectation of Rs. 13040.2 Cr, QoQ Rs. 12430 Cr, YoY Rs. 8267 Cr
Quarter EPS is Rs. 21.8
Share is trading at P/E of 23.7x FY22E EPS
*O2C* EBITDA came at Rs 12231cr vs qoq Rs 11407cr yoy Rs 8166cr
*Retail* Sales grew by 21.9% yoy and *EBITDA Margin* came at 5.8% vs qoq 8.8% yoy 3.8%
*Digital*
*Digital Consol Revenue* came at Rs. 23403 Cr (9.8% YoY, 3.4% QoQ)
*Jio*
*Jio Revenue* came at Rs. 18952 Cr (9.8% YoY, 3.7% QoQ)
*Jio EBITDA* came at Rs. 8892 Cr (21.3% YoY, 3.7% QoQ)
*EBITDA Margins* were 46.9%, YoY 46.9%, QoQ 42.5%
*Jio* ARPU came at Rs. 138.4 vs QoQ Rs138.2, up 0.1% QoQ
*Subscriber Base* increased by 3.4% QoQ
*Jubilant Pharmova – Q1FY22 Concall Update – Nirmal Bang Sec.*
*Outlook – Positive for long term*
The stock is trading at 12.8x FY22E consensus earnings
• Demerged API undertaking of Jubilant Generics and vesting of the same with Jubilant Pharmova - Revenue having Rs 600 cr
• Roorkee facility place under import alert with exemptions to few products – the impact of this is less than 3% of revenues
o 98 ANADs are filed - 61 are approved and 37 are pending – looking to site transfer
• Net Debt (constant currency) reduced by Rs 277 Crore in Q1’FY22
• Expect to incur capex of Rs 700-800 Crore in FY22 that includes expansion at Spokane site and of the CRDS capacity
• Did have sales of remdesivir in Q1 due to second wave of covid; the sales is likely to continue in Q2 as well however at lower levels
*_Specialty Pharmaceuticals_*
• Radiopharma continued to be affected due to Covid, sequential improvement was seen in other areas – Allergy, Specialty Pharma
• Radiopharma – has came to pre covid levels with pick up in nuclear medicine procedures and turnaround plan is on track
o continue to maintain majority market share and have long term contracts in place
o Ruby-Fill installs are picking up and we expect to gain momentum in the US, if the COVID-19 situation continues to improve. Ruby-Fill commercially launched in Europe in Q3’FY21. Expanding distribution network for Ruby-Fill in EU
• Allergy Immunotherapy volumes have normalized to preCOVID levels in Q1'FY22 with COVID related restrictions easing
*_CDMO_*
• CMO business revenue grew YoY based on strong demand from customers as well as COVID related deals
• API business continued to witness higher demand including for remdesivir though saw QoQ decline due to pricing pressure in Sartans
• As guided earlier, the company has received Rs 200 cr revenues for covid portfolio for US region
• business will continue to grow especially with the commissioning of additional capacity
*_Generics_*
• Growth was led by higher volumes including remdesivir though the business witnessed higher pricing erosion in the US
*_Proprietary_*
• plan to take one drug candidate to Phase I clinical trials in H2’FY22
*Outlook – Positive for long term*
The stock is trading at 12.8x FY22E consensus earnings
• Demerged API undertaking of Jubilant Generics and vesting of the same with Jubilant Pharmova - Revenue having Rs 600 cr
• Roorkee facility place under import alert with exemptions to few products – the impact of this is less than 3% of revenues
o 98 ANADs are filed - 61 are approved and 37 are pending – looking to site transfer
• Net Debt (constant currency) reduced by Rs 277 Crore in Q1’FY22
• Expect to incur capex of Rs 700-800 Crore in FY22 that includes expansion at Spokane site and of the CRDS capacity
• Did have sales of remdesivir in Q1 due to second wave of covid; the sales is likely to continue in Q2 as well however at lower levels
*_Specialty Pharmaceuticals_*
• Radiopharma continued to be affected due to Covid, sequential improvement was seen in other areas – Allergy, Specialty Pharma
• Radiopharma – has came to pre covid levels with pick up in nuclear medicine procedures and turnaround plan is on track
o continue to maintain majority market share and have long term contracts in place
o Ruby-Fill installs are picking up and we expect to gain momentum in the US, if the COVID-19 situation continues to improve. Ruby-Fill commercially launched in Europe in Q3’FY21. Expanding distribution network for Ruby-Fill in EU
• Allergy Immunotherapy volumes have normalized to preCOVID levels in Q1'FY22 with COVID related restrictions easing
*_CDMO_*
• CMO business revenue grew YoY based on strong demand from customers as well as COVID related deals
• API business continued to witness higher demand including for remdesivir though saw QoQ decline due to pricing pressure in Sartans
• As guided earlier, the company has received Rs 200 cr revenues for covid portfolio for US region
• business will continue to grow especially with the commissioning of additional capacity
*_Generics_*
• Growth was led by higher volumes including remdesivir though the business witnessed higher pricing erosion in the US
*_Proprietary_*
• plan to take one drug candidate to Phase I clinical trials in H2’FY22