*State Bank of India Ltd.* | *CMP* Rs. 454 | *M Cap* Rs. 405177 Cr | *52 W H/L* 442/176
(Nirmal Bang Retail Research)
*Result is below expectations*
Net Interest Income came at Rs. 27638 Cr vs expectation of Rs. 28804 Cr, YoY Rs. 26642 Cr, QoQ Rs. 27071 Cr
Non Interest Income came at Rs. 11803 Cr vs expectation of Rs. 9885 Cr, YoY Rs. 7957 Cr, QoQ Rs. 16225 Cr
PBP came at Rs. 18975 Cr vs expectation of Rs. 17187 Cr, YoY Rs. 16521 Cr, QoQ Rs. 19700 Cr
Provisions came at Rs. 10052 Cr vs expectation of Rs. 8453 Cr, YoY Rs. 12501 Cr, QoQ Rs. 11051 Cr
Adj. PAT came at Rs. 6504 Cr vs expectation of Rs. 5399 Cr, YoY Rs. 4189 Cr, QoQ Rs. 6451 Cr
Gross NPA came at Rs. 134260 Cr vs QoQ Rs. 126389 Cr at 5.32% vs QoQ 4.98%
Net NPA came at Rs. 43153 Cr vs QoQ Rs. 36810 Cr at 1.77% vs QoQ 1.5%
Contingent provisions stand at Rs. 9065 Cr (37 bps)
Slippages came at Rs. 15666 Cr vs QoQ Rs. 5473 Cr at 2.58% vs QoQ 0.89%. Expectation was for Rs. 9,500-10,000 Cr.
Quarter EPS is Rs. 7
Share is trading at P/E of 10x FY23E EPS & 1.4x trailing P/Adj. BV
(Nirmal Bang Retail Research)
*Result is below expectations*
Net Interest Income came at Rs. 27638 Cr vs expectation of Rs. 28804 Cr, YoY Rs. 26642 Cr, QoQ Rs. 27071 Cr
Non Interest Income came at Rs. 11803 Cr vs expectation of Rs. 9885 Cr, YoY Rs. 7957 Cr, QoQ Rs. 16225 Cr
PBP came at Rs. 18975 Cr vs expectation of Rs. 17187 Cr, YoY Rs. 16521 Cr, QoQ Rs. 19700 Cr
Provisions came at Rs. 10052 Cr vs expectation of Rs. 8453 Cr, YoY Rs. 12501 Cr, QoQ Rs. 11051 Cr
Adj. PAT came at Rs. 6504 Cr vs expectation of Rs. 5399 Cr, YoY Rs. 4189 Cr, QoQ Rs. 6451 Cr
Gross NPA came at Rs. 134260 Cr vs QoQ Rs. 126389 Cr at 5.32% vs QoQ 4.98%
Net NPA came at Rs. 43153 Cr vs QoQ Rs. 36810 Cr at 1.77% vs QoQ 1.5%
Contingent provisions stand at Rs. 9065 Cr (37 bps)
Slippages came at Rs. 15666 Cr vs QoQ Rs. 5473 Cr at 2.58% vs QoQ 0.89%. Expectation was for Rs. 9,500-10,000 Cr.
Quarter EPS is Rs. 7
Share is trading at P/E of 10x FY23E EPS & 1.4x trailing P/Adj. BV
SBI says significant amount of Q1 slippages already pulled back in July. *Positive*
Daily Market Highlights | 4th August 2021 📊
NIFTY50: ₹16,258.80 | +0.79%
Top Gainers 📈
HDFC: +4.59%
KOTAKBANK: +3.89%
ICICIBANK: +3.14%
SBIN: +2.16%
HDFCBANK: +2.15%
Top Losers 📉
GRASIM: -2.47%
TITAN: -2.13%
TATAMOTORS: -1.84%
ADANIPORTS: -1.64%
HINDALCO: -1.58%
NIFTY50: ₹16,258.80 | +0.79%
Top Gainers 📈
HDFC: +4.59%
KOTAKBANK: +3.89%
ICICIBANK: +3.14%
SBIN: +2.16%
HDFCBANK: +2.15%
Top Losers 📉
GRASIM: -2.47%
TITAN: -2.13%
TATAMOTORS: -1.84%
ADANIPORTS: -1.64%
HINDALCO: -1.58%
*TATA COMMUNICATIONS LTD.* | *CMP* Rs. 1505 | *M Cap* Rs. 42893 Cr | *52 W H/L* 1505/666
(Nirmal Bang Retail Research)
*Result inline with expectation*
Revenue from Operations came at Rs. 4102.8 Cr (0.7% QoQ, -6.8% YoY) vs expectation of Rs. 4131.5 Cr, QoQ Rs. 4073.3 Cr, YoY Rs. 4402.9 Cr
EBIDTA came at Rs. 986.1 Cr (-2.9% QoQ, -5.3% YoY) vs expectation of Rs. 1030.9 Cr, QoQ Rs. 1015.2 Cr, YoY Rs. 1041.8 Cr Lower (EBITDA in Q1FY22 is on account of Rs.33cr licensing fees provision)
EBITDA Margin came at 24% vs expectation of 25%, QoQ 24.9%, YoY 23.7%
Adj. PAT came at Rs. 290.5 Cr vs expectation of Rs. 0 Cr, QoQ Rs. 298.1 Cr, YoY Rs. 268.3 Cr
Quarter EPS is Rs. 10.2
Share is trading at 10x EV/EBITDA of FY23 EBITDA
(Nirmal Bang Retail Research)
*Result inline with expectation*
Revenue from Operations came at Rs. 4102.8 Cr (0.7% QoQ, -6.8% YoY) vs expectation of Rs. 4131.5 Cr, QoQ Rs. 4073.3 Cr, YoY Rs. 4402.9 Cr
EBIDTA came at Rs. 986.1 Cr (-2.9% QoQ, -5.3% YoY) vs expectation of Rs. 1030.9 Cr, QoQ Rs. 1015.2 Cr, YoY Rs. 1041.8 Cr Lower (EBITDA in Q1FY22 is on account of Rs.33cr licensing fees provision)
EBITDA Margin came at 24% vs expectation of 25%, QoQ 24.9%, YoY 23.7%
Adj. PAT came at Rs. 290.5 Cr vs expectation of Rs. 0 Cr, QoQ Rs. 298.1 Cr, YoY Rs. 268.3 Cr
Quarter EPS is Rs. 10.2
Share is trading at 10x EV/EBITDA of FY23 EBITDA
*Borosil Renewables Ltd.* | *CMP* Rs. 302 | *M Cap* Rs. 3930 Cr | *52 W H/L* 329/66
(Nirmal Bang Retail Research)
*Result ok*
Revenue from Operations came at Rs. 136.1 Cr (-29.8% QoQ, 151.8% YoY) vs QoQ Rs. 194 Cr, YoY Rs. 54.1 Cr
EBIDTA came at Rs. 61.8 Cr (-40.4% QoQ, 546.9% YoY) vs QoQ Rs. 103.7 Cr, YoY Rs. 9.6 Cr
EBITDA Margin came at 45.4% vs QoQ 53.4%, YoY 17.7%
Adj. PAT came at Rs. 39.6 Cr vs QoQ Rs. 66.9 Cr, YoY Rs. -1.9 Cr
Quarter EPS is Rs. 3
Share is trading at P/E of 30x TTM EPS
(Nirmal Bang Retail Research)
*Result ok*
Revenue from Operations came at Rs. 136.1 Cr (-29.8% QoQ, 151.8% YoY) vs QoQ Rs. 194 Cr, YoY Rs. 54.1 Cr
EBIDTA came at Rs. 61.8 Cr (-40.4% QoQ, 546.9% YoY) vs QoQ Rs. 103.7 Cr, YoY Rs. 9.6 Cr
EBITDA Margin came at 45.4% vs QoQ 53.4%, YoY 17.7%
Adj. PAT came at Rs. 39.6 Cr vs QoQ Rs. 66.9 Cr, YoY Rs. -1.9 Cr
Quarter EPS is Rs. 3
Share is trading at P/E of 30x TTM EPS
*APOLLO TYRES LTD.* | *CMP* Rs. 226 | *M Cap* Rs. 14353 Cr | *52 W H/L* 261/107
(Nirmal Bang Retail Research)
*Result inline with expectation*
Revenue from Operations came at Rs. 4584.5 Cr (-8.8% QoQ, 59.5% YoY) vs expectation of Rs. 4377.1 Cr, QoQ Rs. 5025.7 Cr, YoY Rs. 2873.4 Cr
EBIDTA came at Rs. 566.8 Cr (-30.4% QoQ, 138.9% YoY) vs expectation of Rs. 576.1 Cr, QoQ Rs. 814.7 Cr, YoY Rs. 237.3 Cr
EBITDA Margin came at 12.4% vs expectation of 13.2%, QoQ 16.2%, YoY 8.3%
Adj. PAT came at Rs. 127.8 Cr vs expectation of Rs. 136.9 Cr, QoQ Rs. 288.5 Cr, YoY Rs. -134.6 Cr
Quarter EPS is Rs. 2
Share is trading at P/E of 16.3x FY22E EPS
(Nirmal Bang Retail Research)
*Result inline with expectation*
Revenue from Operations came at Rs. 4584.5 Cr (-8.8% QoQ, 59.5% YoY) vs expectation of Rs. 4377.1 Cr, QoQ Rs. 5025.7 Cr, YoY Rs. 2873.4 Cr
EBIDTA came at Rs. 566.8 Cr (-30.4% QoQ, 138.9% YoY) vs expectation of Rs. 576.1 Cr, QoQ Rs. 814.7 Cr, YoY Rs. 237.3 Cr
EBITDA Margin came at 12.4% vs expectation of 13.2%, QoQ 16.2%, YoY 8.3%
Adj. PAT came at Rs. 127.8 Cr vs expectation of Rs. 136.9 Cr, QoQ Rs. 288.5 Cr, YoY Rs. -134.6 Cr
Quarter EPS is Rs. 2
Share is trading at P/E of 16.3x FY22E EPS
*Hindustan Petroleum Corporation Ltd.* | *CMP* Rs. 272 | *M Cap* Rs. 38585 Cr | *52 W H/L* 312/163
(Nirmal Bang Retail Research)
*Result is inline with expectations*
Revenue from Operations came at Rs. 72443.4 Cr (-3.2% QoQ, 92.1% YoY) vs expectation of Rs. 73524.1 Cr, QoQ Rs. 74843.4 Cr, YoY Rs. 37720.9 Cr
EBIDTA came at Rs. 3193 Cr (-31.6% QoQ, -26.7% YoY) vs expectation of Rs. 3072.5 Cr, QoQ Rs. 4666.4 Cr, YoY Rs. 4353.6 Cr
EBITDA Margin came at 4.4% vs expectation of 4.2%, QoQ 6.2%, YoY 11.5%
Adj. PAT came at Rs. 1795 Cr vs expectation of Rs. 1667.1 Cr, QoQ Rs. 3018 Cr, YoY Rs. 2813.8 Cr
Quarter EPS is Rs. 12.7
Share is trading at P/E of 6.1x FY22E EPS
(Nirmal Bang Retail Research)
*Result is inline with expectations*
Revenue from Operations came at Rs. 72443.4 Cr (-3.2% QoQ, 92.1% YoY) vs expectation of Rs. 73524.1 Cr, QoQ Rs. 74843.4 Cr, YoY Rs. 37720.9 Cr
EBIDTA came at Rs. 3193 Cr (-31.6% QoQ, -26.7% YoY) vs expectation of Rs. 3072.5 Cr, QoQ Rs. 4666.4 Cr, YoY Rs. 4353.6 Cr
EBITDA Margin came at 4.4% vs expectation of 4.2%, QoQ 6.2%, YoY 11.5%
Adj. PAT came at Rs. 1795 Cr vs expectation of Rs. 1667.1 Cr, QoQ Rs. 3018 Cr, YoY Rs. 2813.8 Cr
Quarter EPS is Rs. 12.7
Share is trading at P/E of 6.1x FY22E EPS
*Titan Company Ltd.* | *CMP* Rs. 1800 | *M Cap* Rs. 159802 Cr | *52 W H/L* 1800/1029
(Nirmal Bang Retail Research)
*Result is above expectations*
Revenue from Operations came at Rs. 3473 Cr (-53.7% QoQ, 75.5% YoY) vs expectation of Rs. 2903.6 Cr, QoQ Rs. 7494 Cr, YoY Rs. 1979 Cr
EBIDTA came at Rs. 137 Cr (-83.2% QoQ, -154.2% YoY) vs expectation of Rs. 31.5 Cr, QoQ Rs. 817 Cr, YoY Rs. -253 Cr
EBITDA Margin came at 3.9% vs expectation of 1.1%, QoQ 10.9%, YoY -12.8%
Adj. PAT came at Rs. 20 Cr vs expectation of Rs. -33.5 Cr, QoQ Rs. 564 Cr, YoY Rs. -291 Cr
Quarter EPS is Rs. 0.2
Share is trading at P/E of 84.4x FY22E EPS
(Nirmal Bang Retail Research)
*Result is above expectations*
Revenue from Operations came at Rs. 3473 Cr (-53.7% QoQ, 75.5% YoY) vs expectation of Rs. 2903.6 Cr, QoQ Rs. 7494 Cr, YoY Rs. 1979 Cr
EBIDTA came at Rs. 137 Cr (-83.2% QoQ, -154.2% YoY) vs expectation of Rs. 31.5 Cr, QoQ Rs. 817 Cr, YoY Rs. -253 Cr
EBITDA Margin came at 3.9% vs expectation of 1.1%, QoQ 10.9%, YoY -12.8%
Adj. PAT came at Rs. 20 Cr vs expectation of Rs. -33.5 Cr, QoQ Rs. 564 Cr, YoY Rs. -291 Cr
Quarter EPS is Rs. 0.2
Share is trading at P/E of 84.4x FY22E EPS
*Greenply Industries Ltd.* | *CMP* Rs. 208 | *M Cap* Rs. 2535 Cr | *52 W H/L* 225/74
(Nirmal Bang Retail Research)
*Result is below expectation*
Revenue from Operations came at Rs. 260.8 Cr (-34.3% QoQ, 96.5% YoY) vs expectation of Rs. 246.4 Cr, QoQ Rs. 396.7 Cr, YoY Rs. 132.7 Cr
EBIDTA came at Rs. 13.2 Cr (-71% QoQ, -566% YoY) vs expectation of Rs. 26.5 Cr, QoQ Rs. 45.5 Cr, YoY Rs. -2.8 Cr
EBITDA Margin came at 5.1% vs expectation of 10.8%, QoQ 11.5%, YoY -2.1%
Adj. PAT came at Rs. 4 Cr vs expectation of Rs. 10.7 Cr, QoQ Rs. 28.6 Cr, YoY Rs. -11.3 Cr
Quarter EPS is Rs. 0.3
Share is trading at P/E of 23.5x FY22E EPS
(Nirmal Bang Retail Research)
*Result is below expectation*
Revenue from Operations came at Rs. 260.8 Cr (-34.3% QoQ, 96.5% YoY) vs expectation of Rs. 246.4 Cr, QoQ Rs. 396.7 Cr, YoY Rs. 132.7 Cr
EBIDTA came at Rs. 13.2 Cr (-71% QoQ, -566% YoY) vs expectation of Rs. 26.5 Cr, QoQ Rs. 45.5 Cr, YoY Rs. -2.8 Cr
EBITDA Margin came at 5.1% vs expectation of 10.8%, QoQ 11.5%, YoY -2.1%
Adj. PAT came at Rs. 4 Cr vs expectation of Rs. 10.7 Cr, QoQ Rs. 28.6 Cr, YoY Rs. -11.3 Cr
Quarter EPS is Rs. 0.3
Share is trading at P/E of 23.5x FY22E EPS
*Sumitomo Chemical India Ltd.* | *CMP* Rs. 428 | *M Cap* Rs. 21338 Cr | *52 W H/L* 458/258
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 782 Cr (46.4% QoQ, 20.7% YoY) vs QoQ Rs. 534.3 Cr, YoY Rs. 647.7 Cr
EBIDTA came at Rs. 149.8 Cr (110% QoQ, 26.2% YoY) vs QoQ Rs. 71.3 Cr, YoY Rs. 118.7 Cr
EBITDA Margin came at 19.2% vs QoQ 13.4%, YoY 18.3%
Adj. PAT came at Rs. 105.7 Cr vs QoQ Rs. 54.1 Cr, YoY Rs. 79.4 Cr
Quarter EPS is Rs. 2.1
Share is trading at P/E of 53.9x FY22E EPS
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 782 Cr (46.4% QoQ, 20.7% YoY) vs QoQ Rs. 534.3 Cr, YoY Rs. 647.7 Cr
EBIDTA came at Rs. 149.8 Cr (110% QoQ, 26.2% YoY) vs QoQ Rs. 71.3 Cr, YoY Rs. 118.7 Cr
EBITDA Margin came at 19.2% vs QoQ 13.4%, YoY 18.3%
Adj. PAT came at Rs. 105.7 Cr vs QoQ Rs. 54.1 Cr, YoY Rs. 79.4 Cr
Quarter EPS is Rs. 2.1
Share is trading at P/E of 53.9x FY22E EPS
*Mayur Uniquoters Ltd.* | *CMP* Rs. 534 | *M Cap* Rs. 2380 Cr | *52 W H/L* 546/209
(Nirmal Bang Retail Research)
*Result has marginally declined* due to lower margins
Revenue from Operations came at Rs. 118.2 Cr (-33.8% QoQ, 203.7% YoY) vs QoQ Rs. 178.4 Cr, YoY Rs. 38.9 Cr
EBIDTA came at Rs. 17.6 Cr (-63.9% QoQ, -1355.2% YoY) vs QoQ Rs. 48.9 Cr, YoY Rs. -1.4 Cr
EBITDA Margin came at 14.9% vs QoQ 27.4%, YoY -3.6%
Sep’2020 qtr had similar topline of Rs. 126 Cr but margins then were at 23.0%. Margin this qtr may also have been impacted as the PU unit started operations few months back and is operating at low utilization.
Adj. PAT came at Rs. 14 Cr vs QoQ Rs. 34.7 Cr, YoY Rs. 0.1 Cr
Quarter EPS is Rs. 3.1
Share is trading at P/E of 23x TTM EPS
(Nirmal Bang Retail Research)
*Result has marginally declined* due to lower margins
Revenue from Operations came at Rs. 118.2 Cr (-33.8% QoQ, 203.7% YoY) vs QoQ Rs. 178.4 Cr, YoY Rs. 38.9 Cr
EBIDTA came at Rs. 17.6 Cr (-63.9% QoQ, -1355.2% YoY) vs QoQ Rs. 48.9 Cr, YoY Rs. -1.4 Cr
EBITDA Margin came at 14.9% vs QoQ 27.4%, YoY -3.6%
Sep’2020 qtr had similar topline of Rs. 126 Cr but margins then were at 23.0%. Margin this qtr may also have been impacted as the PU unit started operations few months back and is operating at low utilization.
Adj. PAT came at Rs. 14 Cr vs QoQ Rs. 34.7 Cr, YoY Rs. 0.1 Cr
Quarter EPS is Rs. 3.1
Share is trading at P/E of 23x TTM EPS