*Kotak Mahindra Bank Ltd.* | *CMP* Rs. 1741 | *M Cap* Rs. 345134 Cr | *52 W H/L* 2049/1231
(Nirmal Bang Retail Research)
*Result is marginally below expectations*
Net Interest Income came at Rs. 3942 Cr vs expectation of Rs. 3969 Cr, YoY Rs. 3724 Cr, QoQ Rs. 3843 Cr
Non Interest Income came at Rs. 1583 Cr vs expectation of Rs. 1501 Cr, YoY Rs. 774 Cr, QoQ Rs. 1950 Cr
PBP came at Rs. 3121 Cr vs expectation of Rs. 2859 Cr, YoY Rs. 2624 Cr, QoQ Rs. 3407 Cr
Provisions came at Rs. 935 Cr vs expectation of Rs. 799 Cr, YoY Rs. 962 Cr, QoQ Rs. 1179 Cr
Adj. PAT came at Rs. 1642 Cr vs expectation of Rs. 1383 Cr, YoY Rs. 1244 Cr, QoQ Rs. 1682 Cr
Gross NPA came at Rs. 7932 Cr vs QoQ Rs. 7426 Cr at 3.56% vs QoQ 3.25% (expectation was for 3.15%)
Net NPA came at Rs. 2792 Cr vs QoQ Rs. 2705 Cr at 1.28% vs QoQ 1.21%
Restructured book is at Rs. 552 Cr (0.25%) vs QoQ Rs. 435 Cr.
SMA 2 is at Rs. 430 Cr vs QoQ Rs. 110 Cr (0.2%).
COVID related provisions as at June 30, 2021 were maintained at Rs. 1,279 Cr (0.6%).
Quarter EPS (Standalone) is Rs. 8.6 & Quarter EPS (Consolidated) is Rs. 12.6
Share is trading at P/E of 27.9x FY23E EPS & 4.2x trailing P/Adj. BV (adj. for subsidiaries)
(Nirmal Bang Retail Research)
*Result is marginally below expectations*
Net Interest Income came at Rs. 3942 Cr vs expectation of Rs. 3969 Cr, YoY Rs. 3724 Cr, QoQ Rs. 3843 Cr
Non Interest Income came at Rs. 1583 Cr vs expectation of Rs. 1501 Cr, YoY Rs. 774 Cr, QoQ Rs. 1950 Cr
PBP came at Rs. 3121 Cr vs expectation of Rs. 2859 Cr, YoY Rs. 2624 Cr, QoQ Rs. 3407 Cr
Provisions came at Rs. 935 Cr vs expectation of Rs. 799 Cr, YoY Rs. 962 Cr, QoQ Rs. 1179 Cr
Adj. PAT came at Rs. 1642 Cr vs expectation of Rs. 1383 Cr, YoY Rs. 1244 Cr, QoQ Rs. 1682 Cr
Gross NPA came at Rs. 7932 Cr vs QoQ Rs. 7426 Cr at 3.56% vs QoQ 3.25% (expectation was for 3.15%)
Net NPA came at Rs. 2792 Cr vs QoQ Rs. 2705 Cr at 1.28% vs QoQ 1.21%
Restructured book is at Rs. 552 Cr (0.25%) vs QoQ Rs. 435 Cr.
SMA 2 is at Rs. 430 Cr vs QoQ Rs. 110 Cr (0.2%).
COVID related provisions as at June 30, 2021 were maintained at Rs. 1,279 Cr (0.6%).
Quarter EPS (Standalone) is Rs. 8.6 & Quarter EPS (Consolidated) is Rs. 12.6
Share is trading at P/E of 27.9x FY23E EPS & 4.2x trailing P/Adj. BV (adj. for subsidiaries)
*Ramkrishna Forgings Ltd.* | *CMP* Rs. 816 | *M Cap* Rs. 2609 Cr | *52 W H/L* 816/141
(Nirmal Bang Retail Research)
*Result improved* Margin improved QoQ
Revenue from Operations came at Rs. 417.1 Cr (-19.9% QoQ, 267.1% YoY) vs QoQ Rs. 520.4 Cr, YoY Rs. 113.6 Cr
EBIDTA came at Rs. 95.8 Cr (-9.8% QoQ, -2109.4% YoY) vs QoQ Rs. 106.1 Cr, YoY Rs. -4.8 Cr
EBITDA Margin came at 23% vs QoQ 20.4%, YoY -4.2%
Adj. PAT came at Rs. 24.7 Cr vs QoQ Rs. 33.9 Cr, YoY Rs. -29.5 Cr
Quarter EPS is Rs. 7.7
Share is trading at P/E of 23.2x FY22E EPS
(Nirmal Bang Retail Research)
*Result improved* Margin improved QoQ
Revenue from Operations came at Rs. 417.1 Cr (-19.9% QoQ, 267.1% YoY) vs QoQ Rs. 520.4 Cr, YoY Rs. 113.6 Cr
EBIDTA came at Rs. 95.8 Cr (-9.8% QoQ, -2109.4% YoY) vs QoQ Rs. 106.1 Cr, YoY Rs. -4.8 Cr
EBITDA Margin came at 23% vs QoQ 20.4%, YoY -4.2%
Adj. PAT came at Rs. 24.7 Cr vs QoQ Rs. 33.9 Cr, YoY Rs. -29.5 Cr
Quarter EPS is Rs. 7.7
Share is trading at P/E of 23.2x FY22E EPS
Live webinar on "Rupee Outlook" by Mr. Harihar Krishnamoorthy, Treasurer and Head for Global Markets, FirstRand Bank with Ms. Hiral Dadia, Anchor and Editor.
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Mr. Harihar Krishnamoorthy, Treasurer and Head for Global Markets, FirstRand Bank in conversation wi
Rupee Outlook
Dear All,
Nirmal Bang is inviting you to a Zoom webinar.
When: Jul 27, 2021 08:45 AM India
Topic: Morning Market Update
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Nirmal Bang is inviting you to a Zoom webinar.
When: Jul 27, 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.
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IDBI BANK: GOVT, RBI IN TALKS TO GIVE REGULATORY RELAXATION FOR POTENTIAL BUYER OF BANK - ET NOW
SRIKALAHASTHI PIPES LTD - WORK TO COMPLETE COMMISSIONING OF NEW BLAST FURNACE TO INCREASE CAPACITY FROM 3,00,000 TPA TO 4,00,000 TPA
IPOs in August
1. Exxaro Tiles
Dates : First Week August
Issue Size : Approx 160 Crores
2. Nuvoco Vistas (Nirma Group’s cement arm)
Dates: 2nd Week August
Issue Size : Approx 5000 Crores
1. Exxaro Tiles
Dates : First Week August
Issue Size : Approx 160 Crores
2. Nuvoco Vistas (Nirma Group’s cement arm)
Dates: 2nd Week August
Issue Size : Approx 5000 Crores
Kotak Bank Q1 First Cut – Stable Asset Quality …Results inline
· Q1 Net profit Rs1642cr (up 32% YoY) – Expectation Rs1563cr
· Provision Rs935cr (down 3% YoY) - expectation Rs959cr
· GNPA 3.56% vs 3.25% (QoQ) – Expectation 3.4%
· NPA 1.28% vs 1.21% (QoQ)- expectation 1.2%
· NII Rs3942cr (up 5.9% YoY)- expectation Rs4012cr
· Q1 Net profit Rs1642cr (up 32% YoY) – Expectation Rs1563cr
· Provision Rs935cr (down 3% YoY) - expectation Rs959cr
· GNPA 3.56% vs 3.25% (QoQ) – Expectation 3.4%
· NPA 1.28% vs 1.21% (QoQ)- expectation 1.2%
· NII Rs3942cr (up 5.9% YoY)- expectation Rs4012cr