*Tech Mahindra Ltd.* | *CMP* Rs. 1128 | *M Cap* Rs. 109303 Cr | *52 W H/L* 1128/559
(Nirmal Bang Retail Research)
TCV came at $ 815 Mn vs QoQ $ 1043 Mn, YoY $ 290 Mn
CC QoQ came at 3.9% vs expectation of 2.2%, QoQ 0.7%, YoY -6.3%
*Result is above expectation*
Dollar revenue came at $ 1383.6 Mn,(4.1% QoQ, 14.6% YoY) vs expectation of $ 1359.7 Mn, QoQ $ 1329.6 Mn, YoY $ 1207.5 Mn
Net sales came at Rs. 10197.6 Cr (4.8% QoQ, 12% YoY) vs expectation of Rs. 10053.2 Cr, QoQ Rs. 9729.9 Cr, YoY Rs. 9106.3 Cr
EBIT came at Rs. 1545.3 Cr (-3.6% QoQ, 68.5% YoY) vs expectation of Rs. 1458.9 Cr, QoQ Rs. 1603.6 Cr, YoY Rs. 917.3 Cr
EBIT Margin came at 15.2% vs expectation of 14.5%, QoQ 16.5%, YoY 10.1%
Adj. PAT came at Rs. 1353.2 Cr vs expectation of Rs. 1211 Cr, QoQ Rs. 1081.3 Cr, YoY Rs. 973.2 Cr
Quarter EPS is Rs. 14
Stock is trading at P/E of 18.8x FY22E EPS
(Nirmal Bang Retail Research)
TCV came at $ 815 Mn vs QoQ $ 1043 Mn, YoY $ 290 Mn
CC QoQ came at 3.9% vs expectation of 2.2%, QoQ 0.7%, YoY -6.3%
*Result is above expectation*
Dollar revenue came at $ 1383.6 Mn,(4.1% QoQ, 14.6% YoY) vs expectation of $ 1359.7 Mn, QoQ $ 1329.6 Mn, YoY $ 1207.5 Mn
Net sales came at Rs. 10197.6 Cr (4.8% QoQ, 12% YoY) vs expectation of Rs. 10053.2 Cr, QoQ Rs. 9729.9 Cr, YoY Rs. 9106.3 Cr
EBIT came at Rs. 1545.3 Cr (-3.6% QoQ, 68.5% YoY) vs expectation of Rs. 1458.9 Cr, QoQ Rs. 1603.6 Cr, YoY Rs. 917.3 Cr
EBIT Margin came at 15.2% vs expectation of 14.5%, QoQ 16.5%, YoY 10.1%
Adj. PAT came at Rs. 1353.2 Cr vs expectation of Rs. 1211 Cr, QoQ Rs. 1081.3 Cr, YoY Rs. 973.2 Cr
Quarter EPS is Rs. 14
Stock is trading at P/E of 18.8x FY22E EPS
Dear All,
Nirmal Bang is inviting you to a Zoom webinar.
When: Jul 31, 2021 11:30 AM India
Topic: August Month Outlook by Mr Sunil Jain and Retail Research Team
Register in advance for this webinar:
https://us02web.zoom.us/webinar/register/WN_gOfCI25YR0Kk-nThJloozA
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 31, 2021 11:30 AM India
Topic: August Month Outlook by Mr Sunil Jain and Retail Research Team
Register in advance for this webinar:
https://us02web.zoom.us/webinar/register/WN_gOfCI25YR0Kk-nThJloozA
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: August Month Outlook by Mr Sunil Jain and Retail Research Team. After registering,…
*Union Bank of India Ltd.* | *CMP* Rs. 39 | *M Cap* Rs. 26485 Cr | *52 W H/L* 45/23
(Nirmal Bang Retail Research)
*Result is ok*
Net Interest Income came at Rs. 7013 Cr vs YoY Rs. 6403 Cr, QoQ Rs. 5403 Cr
Non Interest Income came at Rs. 2901 Cr vs YoY Rs. 1462 Cr, QoQ Rs. 4551 Cr
PBP came at Rs. 5303 Cr vs YoY Rs. 4034 Cr, QoQ Rs. 5180 Cr
Provisions came at Rs. 3524 Cr vs YoY Rs. 3556 Cr, QoQ Rs. 3904 Cr
Adj. PAT came at Rs. 1181 Cr vs YoY Rs. 333 Cr, QoQ Rs. 1330 Cr
Gross NPA came at Rs. 87762 Cr vs QoQ Rs. 89788 Cr at 13.6% vs QoQ 13.74%
Net NPA came at Rs. 27438 Cr vs QoQ Rs. 27281 Cr at 4.69% vs QoQ 4.62%
Slippages were at Rs. 7,049 Cr (4.8%) against FY21 figure of Rs. 17,442 Cr (3.0%). 45% of slippages in Q1 were from MSMEs.
SMA 2 has increased to 1.71% vs QoQ 0.60%. Restructured book stands at 2.4%. Thus total of SMA 2 + Restructured book comes to 4.1%.
Quarter EPS is Rs. 1.7
Share is trading at P/E of 4.7x FY23E EPS & 0.7x trailing P/Adj. BV
(Nirmal Bang Retail Research)
*Result is ok*
Net Interest Income came at Rs. 7013 Cr vs YoY Rs. 6403 Cr, QoQ Rs. 5403 Cr
Non Interest Income came at Rs. 2901 Cr vs YoY Rs. 1462 Cr, QoQ Rs. 4551 Cr
PBP came at Rs. 5303 Cr vs YoY Rs. 4034 Cr, QoQ Rs. 5180 Cr
Provisions came at Rs. 3524 Cr vs YoY Rs. 3556 Cr, QoQ Rs. 3904 Cr
Adj. PAT came at Rs. 1181 Cr vs YoY Rs. 333 Cr, QoQ Rs. 1330 Cr
Gross NPA came at Rs. 87762 Cr vs QoQ Rs. 89788 Cr at 13.6% vs QoQ 13.74%
Net NPA came at Rs. 27438 Cr vs QoQ Rs. 27281 Cr at 4.69% vs QoQ 4.62%
Slippages were at Rs. 7,049 Cr (4.8%) against FY21 figure of Rs. 17,442 Cr (3.0%). 45% of slippages in Q1 were from MSMEs.
SMA 2 has increased to 1.71% vs QoQ 0.60%. Restructured book stands at 2.4%. Thus total of SMA 2 + Restructured book comes to 4.1%.
Quarter EPS is Rs. 1.7
Share is trading at P/E of 4.7x FY23E EPS & 0.7x trailing P/Adj. BV