1-2 DAYS Derivatives Call Buy HEROMOTOCO 29MAY 3900CE above 148 with SL 100 Target 240(ANALYST AMIT). Visit our website for disclosure. (Nirmal Bang)
1-2 DAYS Derivatives Call Buy HEROMOTOCO 29MAY 3900CE above 148 with SL 100 Target 240(ANALYST AMIT). Visit our website for disclosure. (Nirmal Bang).
Positional Derivatives Strategy on NCC (Bull Call spread)
Buy NCC 29MAY 225CE at 12.5
Sell NCC 29MAY 240CE at 7
Max Loss –5.5 POINTS
SL- 2
MAX PROFIT – 9.5 Points
(ANALYST AMIT). Visit our website for disclosure. (Nirmal Bang).
Buy NCC 29MAY 225CE at 12.5
Sell NCC 29MAY 240CE at 7
Max Loss –5.5 POINTS
SL- 2
MAX PROFIT – 9.5 Points
(ANALYST AMIT). Visit our website for disclosure. (Nirmal Bang).
1-2 Days Derivatives Call Book Partial Profits in HEROMOTOCO 3900CE at 174-178, Target 240, Call initiated at 148(ANALYST AMIT). Visit our website for disclosure. (Nirmal Bang).
*Shilchar Technologies Ltd.* | *CMP* Rs. 6389 | *M Cap* Rs. 4873 Cr | *52 W H/L* 8899/4206
(Nirmal Bang Retail Research)
*Result good*
Company declared 2:1 bonus
Revenue from Operations came at Rs. 231.9 Cr (50.8% QoQ, 119.9% YoY) vs QoQ Rs. 153.7 Cr, YoY Rs. 105.4 Cr
EBIDTA came at Rs. 71.2 Cr (65.3% QoQ, 127.2% YoY) vs QoQ Rs. 43.1 Cr, YoY Rs. 31.4 Cr
EBITDA Margin came at 30.7% vs QoQ 28%, YoY 29.7%
Adj. PAT came at Rs. 55.4 Cr vs QoQ Rs. 34.8 Cr, YoY Rs. 25 Cr
Quarter EPS is Rs. 72.6
Stock is trading at P/E of 33.2x TTM EPS
*GNA Axles Ltd.* | *CMP* Rs. 361 | *M Cap* Rs. 1550 Cr | *52 W H/L* 494/270
(Nirmal Bang Retail Research)
*Result ok*
Revenue from Operations came at Rs. 377.5 Cr (0.6% QoQ, 1.7% YoY) vs QoQ Rs. 375.1 Cr, YoY Rs. 371 Cr
EBIDTA came at Rs. 50.3 Cr (-4% QoQ, 40.3% YoY) vs QoQ Rs. 52.4 Cr, YoY Rs. 35.9 Cr
EBITDA Margin came at 13.3% vs QoQ 14%, YoY 9.7%
Adj. PAT came at Rs. 25.4 Cr vs QoQ Rs. 25.4 Cr, YoY Rs. 16.7 Cr
Quarter EPS is Rs. 5.9
Stock is trading at P/E of 14.5x TTM EPS
(Nirmal Bang Retail Research)
*Result good*
Company declared 2:1 bonus
Revenue from Operations came at Rs. 231.9 Cr (50.8% QoQ, 119.9% YoY) vs QoQ Rs. 153.7 Cr, YoY Rs. 105.4 Cr
EBIDTA came at Rs. 71.2 Cr (65.3% QoQ, 127.2% YoY) vs QoQ Rs. 43.1 Cr, YoY Rs. 31.4 Cr
EBITDA Margin came at 30.7% vs QoQ 28%, YoY 29.7%
Adj. PAT came at Rs. 55.4 Cr vs QoQ Rs. 34.8 Cr, YoY Rs. 25 Cr
Quarter EPS is Rs. 72.6
Stock is trading at P/E of 33.2x TTM EPS
*GNA Axles Ltd.* | *CMP* Rs. 361 | *M Cap* Rs. 1550 Cr | *52 W H/L* 494/270
(Nirmal Bang Retail Research)
*Result ok*
Revenue from Operations came at Rs. 377.5 Cr (0.6% QoQ, 1.7% YoY) vs QoQ Rs. 375.1 Cr, YoY Rs. 371 Cr
EBIDTA came at Rs. 50.3 Cr (-4% QoQ, 40.3% YoY) vs QoQ Rs. 52.4 Cr, YoY Rs. 35.9 Cr
EBITDA Margin came at 13.3% vs QoQ 14%, YoY 9.7%
Adj. PAT came at Rs. 25.4 Cr vs QoQ Rs. 25.4 Cr, YoY Rs. 16.7 Cr
Quarter EPS is Rs. 5.9
Stock is trading at P/E of 14.5x TTM EPS
*Pitti Engineering Ltd.* | *CMP* Rs. 998 | *M Cap* Rs. 3758 Cr | *52 W H/L* 1512/780
(Nirmal Bang Retail Research)
*Result improved*
Revenue from Operations came at Rs. 468.8 Cr (13% QoQ, 39.6% YoY) vs QoQ Rs. 415 Cr, YoY Rs. 335.9 Cr
EBIDTA came at Rs. 80.1 Cr (19.6% QoQ, 54.3% YoY) vs QoQ Rs. 67 Cr, YoY Rs. 51.9 Cr
EBITDA Margin came at 17.1% vs QoQ 16.1%, YoY 15.5%
Adj. PAT came at Rs. 36.1 Cr vs QoQ Rs. 28.8 Cr, YoY Rs. 46 Cr
Quarter EPS is Rs. 9.6
Stock is trading at P/E of 30x TTM EPS
(Nirmal Bang Retail Research)
*Result improved*
Revenue from Operations came at Rs. 468.8 Cr (13% QoQ, 39.6% YoY) vs QoQ Rs. 415 Cr, YoY Rs. 335.9 Cr
EBIDTA came at Rs. 80.1 Cr (19.6% QoQ, 54.3% YoY) vs QoQ Rs. 67 Cr, YoY Rs. 51.9 Cr
EBITDA Margin came at 17.1% vs QoQ 16.1%, YoY 15.5%
Adj. PAT came at Rs. 36.1 Cr vs QoQ Rs. 28.8 Cr, YoY Rs. 46 Cr
Quarter EPS is Rs. 9.6
Stock is trading at P/E of 30x TTM EPS
Dow -972
Nasdaq -416
Dax Closed
Nikkei - 51
Hangseng -43
Gift Nifty +37 (24168)
Dowfut +199
Nasdaqfut +132
Crude Oil 66.94
Dollar Index 98.25
Stocks To Watch
Steel Stocks like SAIL, JSW Steel, Tata Steel, JSPL: The government imposed a 12% safeguard duty on some steel imports from developed economies, China and Vietnam. The duty is applicable for 200 days to protect Indian players from cheap Chinese steel imports.
Vedanta: Promoter Twin Star Holdings will borrow $530 million from lenders including Barclays Bank, Standard Chartered Bank and Deutsche Bank to service debt of Vedanta Resources.
One 97 Communications: The company's arm Paytm Money introduced reduced interest rates and revised brokerage for pay later to drive affordability and accessibility for investors.
Coal India: The company signed a non-binding agreement with Damodar Valley Corp to set up ultra supercritical units for Jharkhand Thermal Power Station.
Mazagon Dock Shipbuilders: Defence Ministry appointed Jagmohan as MD and chairperson. He served for over 25 years with the Indian Navy, during which he held several important assignments in the Directorate of Naval Design and at Naval Dockyard, Mumbai.
Nippon Life India AMC: The company fully restored core operating systems for management of funds. The company's mobile application and website are now fully functional and operating normally. There was no material impact on the operations.
Tata Power: The company tied up with Tata Motors to set up a 131 MW wind-solar hybrid project.
Hindustan Unilever: The company completed the acquisition of 90.5% stake in skincare brand Minimalist's parent company Uprising Science for Rs 2,706 crore.
Gujarat Alkalies & Chemicals: The company dispatched its first consignment of Benzyl Chloride from Dahej Plant.
Brigade Enterprises: The company signed a joint development agreement for a project in Bengaluru with an estimated gross development value of Rs 175 crore.
Alok Industries: Appointed Jinendra Jain as CFO starting April 30.
HG Infra Engineering: Gujarat Urja Vikas Nigam declared the company as a qualified bidder to set up a standalone battery energy storage system
Insider Trading
Go Fashion (India): Promoter Gautam Saraogi revoked a pledge for 2.73 lakh shares.
Trading Tweaks
Price Band changes from 20% to 10%: SMS Lifesciences India, the India Cements.
List of securities shortlisted in Short-Term ASM Framework Stage 1: Goldiam International.
List of securities to be excluded from ASM Framework: Panacea Biotec.
Securities in ban period:
Angelone,
Hindustan Copper,
Ireda,
Manappuram Finance,
Tata Elxsi.
Money Market Update
Rupee strengthened by 24 paise to close at 85.14 against the US dollar. The yield on the 10-year benchmark government bond closed 6 bps lower at 6.32%.
*News Headlines from Business News Agencies:*
*Business Standard*
📝 Monsoon tailwinds, MSP hike to drive tractor sales in FY26: CRISIL
📝 EPFO registers 1.61 million net members in February 2025, shows data
📝 Bajaj Finserv rolls out low-cost index funds to ride market growth
📝 Govt to take necessary action in Gensol case after examining Sebi's order
📝 Tesla looks to American, Indian chipmakers to diversify supply chain
📝 Mirae Asset launches $200M global investment fund targeting AI & semicon
📝 India exports second batch BrahMos missile to Philippines via sea
📝 Coal India arm SECL inks ₹7,040 crore coal mining pact
📝 Airtel expands alert coverage to int'l calls, SMS to combat fraud calls
📝 India should restore soybean exports to US in bilateral trade talks: SEA
📝 Tractor sales in FY26 to hit record 975K units, ₹4K cr capex likely: Crisil
📝 JSW Energy aims for 30Gw generation capacity by 2030, revises target
*Economic Times*
📝 Tata Motors, Tata Power Renewable Energy partner to develop wind-solar project
Nasdaq -416
Dax Closed
Nikkei - 51
Hangseng -43
Gift Nifty +37 (24168)
Dowfut +199
Nasdaqfut +132
Crude Oil 66.94
Dollar Index 98.25
Stocks To Watch
Steel Stocks like SAIL, JSW Steel, Tata Steel, JSPL: The government imposed a 12% safeguard duty on some steel imports from developed economies, China and Vietnam. The duty is applicable for 200 days to protect Indian players from cheap Chinese steel imports.
Vedanta: Promoter Twin Star Holdings will borrow $530 million from lenders including Barclays Bank, Standard Chartered Bank and Deutsche Bank to service debt of Vedanta Resources.
One 97 Communications: The company's arm Paytm Money introduced reduced interest rates and revised brokerage for pay later to drive affordability and accessibility for investors.
Coal India: The company signed a non-binding agreement with Damodar Valley Corp to set up ultra supercritical units for Jharkhand Thermal Power Station.
Mazagon Dock Shipbuilders: Defence Ministry appointed Jagmohan as MD and chairperson. He served for over 25 years with the Indian Navy, during which he held several important assignments in the Directorate of Naval Design and at Naval Dockyard, Mumbai.
Nippon Life India AMC: The company fully restored core operating systems for management of funds. The company's mobile application and website are now fully functional and operating normally. There was no material impact on the operations.
Tata Power: The company tied up with Tata Motors to set up a 131 MW wind-solar hybrid project.
Hindustan Unilever: The company completed the acquisition of 90.5% stake in skincare brand Minimalist's parent company Uprising Science for Rs 2,706 crore.
Gujarat Alkalies & Chemicals: The company dispatched its first consignment of Benzyl Chloride from Dahej Plant.
Brigade Enterprises: The company signed a joint development agreement for a project in Bengaluru with an estimated gross development value of Rs 175 crore.
Alok Industries: Appointed Jinendra Jain as CFO starting April 30.
HG Infra Engineering: Gujarat Urja Vikas Nigam declared the company as a qualified bidder to set up a standalone battery energy storage system
Insider Trading
Go Fashion (India): Promoter Gautam Saraogi revoked a pledge for 2.73 lakh shares.
Trading Tweaks
Price Band changes from 20% to 10%: SMS Lifesciences India, the India Cements.
List of securities shortlisted in Short-Term ASM Framework Stage 1: Goldiam International.
List of securities to be excluded from ASM Framework: Panacea Biotec.
Securities in ban period:
Angelone,
Hindustan Copper,
Ireda,
Manappuram Finance,
Tata Elxsi.
Money Market Update
Rupee strengthened by 24 paise to close at 85.14 against the US dollar. The yield on the 10-year benchmark government bond closed 6 bps lower at 6.32%.
*News Headlines from Business News Agencies:*
*Business Standard*
📝 Monsoon tailwinds, MSP hike to drive tractor sales in FY26: CRISIL
📝 EPFO registers 1.61 million net members in February 2025, shows data
📝 Bajaj Finserv rolls out low-cost index funds to ride market growth
📝 Govt to take necessary action in Gensol case after examining Sebi's order
📝 Tesla looks to American, Indian chipmakers to diversify supply chain
📝 Mirae Asset launches $200M global investment fund targeting AI & semicon
📝 India exports second batch BrahMos missile to Philippines via sea
📝 Coal India arm SECL inks ₹7,040 crore coal mining pact
📝 Airtel expands alert coverage to int'l calls, SMS to combat fraud calls
📝 India should restore soybean exports to US in bilateral trade talks: SEA
📝 Tractor sales in FY26 to hit record 975K units, ₹4K cr capex likely: Crisil
📝 JSW Energy aims for 30Gw generation capacity by 2030, revises target
*Economic Times*
📝 Tata Motors, Tata Power Renewable Energy partner to develop wind-solar project
📝 Gujarat’s Arete Group to invest Rs 1,200 crore in infrastructure development in industrial park
📝 NCLAT upholds liquidation of Sintex Plastics
📝 Capital Edge of Kuwait to invest USD 1 bn in NexGen Energia
📝 SUV contribution rises to 68.5 pc of overall sales in FY25: Hyundai
📝 Ola's Krutrim denies report of $300 million fundraise
📝 LIC of India hikes its stake in Bank of Baroda to 7.05%
📝 GST body drops Rs 115 cr from tax demand against Mahindra & Mahindra
📝 Toshiba inks pact to invest Rs 562 cr to expand manufacturing capacity in Telangana
📝 Samsung to introduce local languages, India-specific features to drive AI appliances sale
📝 Samsung, LG sue Indian government over electronic-waste pricing policy
*Mint*
📝 India must engage with China, US on equal terms: GTRI
📝 MobiKwik and Poonawalla Fincorp join hands to offer instant personal loans
📝 Klaus Schwab steps down as World Economic Forum chairman after 55 years
📝 Indian real estate attracts nearly ₹74K cr till Dec24 from AIFs, max among all sectors: Anarock
📝 Lower Crude prices to remain supportive for the OMCs
📝 Kansai bets on industrial paints for glossy growth, but near-term is patchy
📝 Govt to release unemployment data every month starting May 15: Official
📝 Leather, footwear exports up 25 pc to USD 5.7 bn in 2024-25; may cross USD 6.5 bn in FY26
📝 Centre to meet shareholding norms for Bank of Maharashtra via QIP in FY26
📝 LG Electronics India likely to file updated DRHP early next month: Report
📝 Govt may extend scheme for seismic survey of oil and gas reserves till FY27
BULK DEAL AS ON 21-04-2025
EFCIL
+11.35 LK @ 259.46 NAV CAPITAL VCC - NAV CAPITAL EMERGING STAR FUND
-10.07 LK @ 260.01 LKP FINANCE LIMITED
*Rajratan Global Wire Ltd.* | *CMP* Rs. 324 | *M Cap* Rs. 1645 Cr | *52 W H/L* 694/250
(Nirmal Bang Retail Research)
*Result ok*
Revenue from Operations came at Rs. 251.4 Cr (15.1% QoQ, 4.9% YoY) vs QoQ Rs. 218.4 Cr, YoY Rs. 239.6 Cr
EBIDTA came at Rs. 33.3 Cr (27% QoQ, -3.1% YoY) vs QoQ Rs. 26.3 Cr, YoY Rs. 34.4 Cr
EBITDA Margin came at 13.3% vs QoQ 12%, YoY 14.4%
Adj. PAT came at Rs. 15.2 Cr vs QoQ Rs. 9.3 Cr, YoY Rs. 20.2 Cr
Quarter EPS is Rs. 3
Stock is trading at P/E of 17.2x FY26E EPS
*Himadri Speciality Chemical Ltd.* | *CMP* Rs. 479 | *M Cap* Rs. 23647 Cr | *52 W H/L* 689/307
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 1134.6 Cr (-0.5% QoQ, -3.6% YoY) vs QoQ Rs. 1140.7 Cr, YoY Rs. 1177 Cr
EBIDTA came at Rs. 233.3 Cr (5.6% QoQ, 30% YoY) vs QoQ Rs. 220.9 Cr, YoY Rs. 179.5 Cr
EBITDA Margin came at 20.6% vs QoQ 19.4%, YoY 15.3%
Adj. PAT came at Rs. 155.6 Cr vs QoQ Rs. 142.1 Cr, YoY Rs. 115.2 Cr
Quarter EPS is Rs. 3.2
Stock is trading at P/E of 42.6x TTM EPS
Paytm Money, a wholly-owned subsidiary of One 97 Communications Limited (OCL) and a leading wealth-tech platform that simplifies wealth management and equity investments through a technology-first approach, has today announced new cost-effective interest rates and brokerage structure for its recently launched Pay Later (MTF - Margin Trading Facility) offering.
Retail investors can now access Pay Later (MTF) at an industry-leading rate of 9.75% p.a., making it easier to start trading affordably. Additionally, high value traders with a funding book size above ₹25 lakh will also benefit from the same 9.75% p.a. interest rate, incentivizing greater trading activity and deeper engagement. Investors with a book size of between ₹1 lakh and ₹25 lakh will have a 14.99% p.a. interest rate.
Neutral
📝 NCLAT upholds liquidation of Sintex Plastics
📝 Capital Edge of Kuwait to invest USD 1 bn in NexGen Energia
📝 SUV contribution rises to 68.5 pc of overall sales in FY25: Hyundai
📝 Ola's Krutrim denies report of $300 million fundraise
📝 LIC of India hikes its stake in Bank of Baroda to 7.05%
📝 GST body drops Rs 115 cr from tax demand against Mahindra & Mahindra
📝 Toshiba inks pact to invest Rs 562 cr to expand manufacturing capacity in Telangana
📝 Samsung to introduce local languages, India-specific features to drive AI appliances sale
📝 Samsung, LG sue Indian government over electronic-waste pricing policy
*Mint*
📝 India must engage with China, US on equal terms: GTRI
📝 MobiKwik and Poonawalla Fincorp join hands to offer instant personal loans
📝 Klaus Schwab steps down as World Economic Forum chairman after 55 years
📝 Indian real estate attracts nearly ₹74K cr till Dec24 from AIFs, max among all sectors: Anarock
📝 Lower Crude prices to remain supportive for the OMCs
📝 Kansai bets on industrial paints for glossy growth, but near-term is patchy
📝 Govt to release unemployment data every month starting May 15: Official
📝 Leather, footwear exports up 25 pc to USD 5.7 bn in 2024-25; may cross USD 6.5 bn in FY26
📝 Centre to meet shareholding norms for Bank of Maharashtra via QIP in FY26
📝 LG Electronics India likely to file updated DRHP early next month: Report
📝 Govt may extend scheme for seismic survey of oil and gas reserves till FY27
BULK DEAL AS ON 21-04-2025
EFCIL
+11.35 LK @ 259.46 NAV CAPITAL VCC - NAV CAPITAL EMERGING STAR FUND
-10.07 LK @ 260.01 LKP FINANCE LIMITED
*Rajratan Global Wire Ltd.* | *CMP* Rs. 324 | *M Cap* Rs. 1645 Cr | *52 W H/L* 694/250
(Nirmal Bang Retail Research)
*Result ok*
Revenue from Operations came at Rs. 251.4 Cr (15.1% QoQ, 4.9% YoY) vs QoQ Rs. 218.4 Cr, YoY Rs. 239.6 Cr
EBIDTA came at Rs. 33.3 Cr (27% QoQ, -3.1% YoY) vs QoQ Rs. 26.3 Cr, YoY Rs. 34.4 Cr
EBITDA Margin came at 13.3% vs QoQ 12%, YoY 14.4%
Adj. PAT came at Rs. 15.2 Cr vs QoQ Rs. 9.3 Cr, YoY Rs. 20.2 Cr
Quarter EPS is Rs. 3
Stock is trading at P/E of 17.2x FY26E EPS
*Himadri Speciality Chemical Ltd.* | *CMP* Rs. 479 | *M Cap* Rs. 23647 Cr | *52 W H/L* 689/307
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 1134.6 Cr (-0.5% QoQ, -3.6% YoY) vs QoQ Rs. 1140.7 Cr, YoY Rs. 1177 Cr
EBIDTA came at Rs. 233.3 Cr (5.6% QoQ, 30% YoY) vs QoQ Rs. 220.9 Cr, YoY Rs. 179.5 Cr
EBITDA Margin came at 20.6% vs QoQ 19.4%, YoY 15.3%
Adj. PAT came at Rs. 155.6 Cr vs QoQ Rs. 142.1 Cr, YoY Rs. 115.2 Cr
Quarter EPS is Rs. 3.2
Stock is trading at P/E of 42.6x TTM EPS
Paytm Money, a wholly-owned subsidiary of One 97 Communications Limited (OCL) and a leading wealth-tech platform that simplifies wealth management and equity investments through a technology-first approach, has today announced new cost-effective interest rates and brokerage structure for its recently launched Pay Later (MTF - Margin Trading Facility) offering.
Retail investors can now access Pay Later (MTF) at an industry-leading rate of 9.75% p.a., making it easier to start trading affordably. Additionally, high value traders with a funding book size above ₹25 lakh will also benefit from the same 9.75% p.a. interest rate, incentivizing greater trading activity and deeper engagement. Investors with a book size of between ₹1 lakh and ₹25 lakh will have a 14.99% p.a. interest rate.
Neutral
*India imposes 12% safeguard duty on some steel products imports for 200 days*
India has implemented a 12% safeguard duty on specific steel products to control excessive imports, as indicated by a government notification. This action follows a recommendation by the Directorate General of Trade Remedies, prompted by concerns that increased imports are negatively impacting India's domestic steel industry.
Positive for steel companies
The Reserve Bank of India has amended guidelines for banks related to haircuts on high quality liquid assets like govt bonds and run-off rates on some retail deposits with effect from April 1, in order to boost their liquidity coverage
RBI estimates that the net impact of these measures will improve the LCR of banks, at the aggregate level, by around 6 percentage points as on that date
Positive
*Coal India and DVC sign pact*
State-run Coal India Ltd and Damodar Valley Corporation have joined forces to establish a 1,600 MW ultra-supercritical thermal power plant in Jharkhand, with an investment of ₹16,500 crore. The project will expand the existing 500 MW Chandrapura Thermal Power Station. The two companies have signed a memorandum of understanding (MoU) to form a joint venture with equal shareholding.
Neutral
India has implemented a 12% safeguard duty on specific steel products to control excessive imports, as indicated by a government notification. This action follows a recommendation by the Directorate General of Trade Remedies, prompted by concerns that increased imports are negatively impacting India's domestic steel industry.
Positive for steel companies
The Reserve Bank of India has amended guidelines for banks related to haircuts on high quality liquid assets like govt bonds and run-off rates on some retail deposits with effect from April 1, in order to boost their liquidity coverage
RBI estimates that the net impact of these measures will improve the LCR of banks, at the aggregate level, by around 6 percentage points as on that date
Positive
*Coal India and DVC sign pact*
State-run Coal India Ltd and Damodar Valley Corporation have joined forces to establish a 1,600 MW ultra-supercritical thermal power plant in Jharkhand, with an investment of ₹16,500 crore. The project will expand the existing 500 MW Chandrapura Thermal Power Station. The two companies have signed a memorandum of understanding (MoU) to form a joint venture with equal shareholding.
Neutral
*International Gemmological Institute India Ltd – Q1CY25 concall Update*
*Outlook : Positive*
YoY volume saw increase of 26% to 3.12 mn certificate
Whereas revenue increased by 10% YoY
Company had taken One time price correction in LGD certification price in Q2CY24 thereafter prices are stable. This has resulted into lower sales growth vs volume growth
Going forward sales growth will track volume growth.
Company has guided for 15-20% revenue growth in CY25 and long term with maintaining margin in the range of 57-64%
Share is trading at 29x Q1CY25 annualised earning
*Outlook : Positive*
YoY volume saw increase of 26% to 3.12 mn certificate
Whereas revenue increased by 10% YoY
Company had taken One time price correction in LGD certification price in Q2CY24 thereafter prices are stable. This has resulted into lower sales growth vs volume growth
Going forward sales growth will track volume growth.
Company has guided for 15-20% revenue growth in CY25 and long term with maintaining margin in the range of 57-64%
Share is trading at 29x Q1CY25 annualised earning
The IndusInd Bank board has appointed EY to carry out a second forensic audit, specifically to investigate a ₹600 crore discrepancy related to the accrual of interest income in its microfinance portfolio, said two people with direct knowledge of the matter. The issue was flagged during the ongoing statutory audit for the last financial year,\
Negative
Negative