*Honeywell Automation India Ltd.* | *CMP* Rs. 41403 | *M Cap* Rs. 36607 Cr | *52 W H/L* 49805/27124
(Nirmal Bang Retail Research)
*Result is below expectation*
Revenue from Operations came at Rs. 683.2 Cr (1.6% QoQ, -7.2% YoY) vs expectation of Rs. 764.1 Cr, QoQ Rs. 672.7 Cr, YoY Rs. 736.2 Cr
EBIDTA came at Rs. 116.7 Cr (-9.7% QoQ, -8.8% YoY) vs expectation of Rs. 151.6 Cr, QoQ Rs. 129.2 Cr, YoY Rs. 127.9 Cr
EBITDA Margin came at 17.1% vs expectation of 19.8%, QoQ 19.2%, YoY 17.4%
Adj. PAT came at Rs. 91.5 Cr vs expectation of Rs. 118.4 Cr, QoQ Rs. 104 Cr, YoY Rs. 98.1 Cr
Quarter EPS is Rs. 103.5
Share is trading at P/E of 61.8x FY22E EPS

*ITD Cementation India Ltd.* | *CMP* Rs. 83 | *M Cap* Rs. 1426 Cr | *52 W H/L* 98/42
(Nirmal Bang Retail Research)
*Result is above expectation*
Revenue from Operations came at Rs. 825.5 Cr (-16.1% QoQ, 106.7% YoY) vs expectation of Rs. 716.9 Cr, QoQ Rs. 983.9 Cr, YoY Rs. 399.4 Cr
EBIDTA came at Rs. 82.2 Cr (-27.7% QoQ, 178.2% YoY) vs expectation of Rs. 65.5 Cr, QoQ Rs. 113.8 Cr, YoY Rs. 29.6 Cr
EBITDA Margin came at 10% vs expectation of 9.1%, QoQ 11.6%, YoY 7.4%
Adj. PAT came at Rs. 17.9 Cr vs expectation of Rs. 13.4 Cr, QoQ Rs. 52.5 Cr, YoY Rs. -17 Cr
Quarter EPS is Rs. 1
Share is trading at P/E of 12.8x FY22E EPS