Sanghvi Movers Ltd. | CMP Rs. 1280 | M Cap Rs. 5541 Chrome | 52WH/L1433/366
(Nirmal Bang Retail Research)
My grades went down
Revenue from operations was Rs 1 million. 1,654.4 Cr (-1% QoQ, 30.4% YoY) vs. Rs. 167Cr QoQ, Rs. 126.8Cr YoY
EBIDTA stood at Rs. 92.1 Cr (-19.8% QoQ, 20.2% YoY) vs. Rs. 114.8 Cr QoQ, Rs. 76.6 Cr YoY
EBITDA margin was 55.7%, 68.7% quarter-over-quarter, and 60.4% YoY.
Adjusted PAT was Rs. 47.7 Cr QoQ vs. Rs. 61.3 Cr and YoY was Rs. 33.9 Cr
Quarterly EPS is Rs. 11
The stock trades at a P/E ratio of 29.5 times TTM EPS.
Crompton Greaves Consumer Electricals Ltd. | CMP Rs. 339 | M Cap Rs. 21776Cr | 52WH/L345/252
(Nirmal Bang Retail Research)
The results were slightly better than expected.
Revenue from operations was Rs 1 million. 1961 Cr (15.9% QoQ, 9.5% YoY) vs. Expected Rs. 1952.4 Cr, QoQ Rs. 1,692.7 Cr, 1791 Cr YoY
EBIDTA stood at Rs 20 billion. 203.6 Cr (35.9% QoQ, -3.7% YoY) vs. Expected Rs. 194.8 Cr, QoQ Rs. 149.8Cr, YoY Rs. 211.4Cr
EBITDA margin of 10.4% versus expected 10%, 8.8% sequentially, and 11.8% YoY
Adjustment PAT was Rs. 138.4Cr vs. Expected Rs. 119.5Cr, QoQ Rs. 86Cr, YoY Rs. 131.2Cr
Quarterly EPS is 2.2 rupees
The stock is trading at a P/E ratio of 30.7 times FY26 EPS.
V Guard Industries Co., Ltd. | CMP Rs. 376 | M Cap Rs. 16311 Chrome | 52WH/L 375.5/239
(Nirmal Bang Retail Research)
Results slightly exceeded expectations
Revenue from operations was Rs 1 million. 13,428 Cr (15.2% QoQ, 17.8% YoY) vs. expected Rs. 1291.3 Cr, QoQ Rs. 1,165.4 Cr, YoY Rs. 1140.1 Cr
EBIDTA stood at Rs. 127.9 Cr (25.8% QoQ, 29.6% YoY) vs. expected Rs. 122.7 Cr, QoQ Rs. 101.6 Cr, YoY Rs. 98.7 Cr
EBITDA margin of 9.5% versus expected 9.5%, 8.7% sequentially, and 8.7% YoY
Adjustment PAT was Rs. 76.2 Cr vs. Expectations of Rs.75 Cr, QoQ of Rs. 58.2Cr, YoY increase of Rs. 52.7Cr
Quarterly EPS is Rs. 1.8
The stock is trading at a P/E ratio of 48.4 times FY25 EPS.
Biocon Co., Ltd. | CMP Rs. 305 | M Cap Rs. 36618 Chrome | 52WH/L315/218
(Nirmal Bang Retail Research)
Results that exceed expectations
Revenue from operations was Rs 1 million. 3,917.1 Cr (-0.9% QoQ, 3.8% YoY) vs. Expected Rs. 3890.3 Cr, QoQ Rs. 3,953.7 Cr, YoY Rs. 3773.9 Cr
EBIDTA stood at Rs. 9,159 Cr (-1.2% QoQ, -8.2% YoY) vs. expected Rs. 8,10.2 Cr, QoQ Rs. 9,26.8 Cr, YoY 997.3 Cr
EBITDA margin was 23.4% compared to the forecast of 20.8%, 23.4% sequentially, and 26.4% YoY
Adjustment PAT was Rs. 135.5 Cr vs. Expected Rs. 140.3 Cr, QoQ Rs. 6,38.8 Cr, YoY 316.2 Cr
Quarterly EPS is Rs. 1.1
The stock is trading at a P/E ratio of 39.4 times FY25E EPS.
Triveni Turbine Co., Ltd. | CMP Rs. 605 | M Cap Rs. 19232Cr | 52WH/L613/312
(Nirmal Bang Retail Research)
The results are roughly in line with expectations
Revenue from operations was Rs 1 million. 4,581 Cr (6.1% QoQ, 23.9% YoY) vs. expected Rs. 478.1 Cr, QoQ Rs. 4,31.7 Cr, YoY Rs. 369.8 Cr
EBIDTA stood at Rs. 89.8Cr (7.3% QoQ, 35.4% YoY) vs. Expected Rs. 92.2Cr, Rs. 83.7Cr QoQ, Rs. 66.3Cr YoY
EBITDA margin of 19.6% versus expected 19.3%, 19.4% sequentially, and 17.9% YoY
Adjustment PAT was Rs. 76Cr vs. Expectations of Rs.75.4Cr, QoQ of Rs. 68.2Cr, YoY increase of Rs. 55.5Cr
Quarterly EPS is Rs. 2.4
The stock is trading at a P/E ratio of 54.8 times FY25 EPS.
Container Corporation of India Ltd. | CMP Rs. 1037 | M Cap Rs. 63184 Chrome | 52WH/L1088/610
(Nirmal Bang Retail Research)
Results below expectations
Revenue from operations was Rs 1 million. 2,317.6 Cr (5.1% QoQ, 7% YoY) vs. Expected Rs. 2361.7 Cr, QoQ Rs. 2,205.1 Cr, YoY Rs. 2166 Cr
EBIDTA stood at Rs. 489 Cr (-4.4% QoQ, -10% YoY) 542.7 Cr, QoQ Rs. 5,11.7 Cr, YoY Rs. 444.7 Cr
EBITDA margin was 21.1% against the forecast of 23%, 23.2% sequentially, and 20.5% YoY.
Adjustment PAT was Rs. 294.5 Cr vs. Expected Rs. 3,65.3 Cr, QoQ Rs. 3,34.4 Cr, YoY Rs. 279.7 Cr
Quarterly EPS is Rs. 4.8
The stock is trading at a P/E ratio of 40.5 times FY25 EPS.
Vodafone Idea Co., Ltd. | CMP Rs. 13 | M Cap Rs. 87559 Chrome | 52 WH/L 18/7
(Nirmal Van Retail Research)
ARPU was 146 rupees against the expected 148 rupees, 145 rupees QoQ and 135 rupees YoY.
The results are as expected
Revenue from operations was Rs 1 million. 106,06.8 Cr (-0.6% QoQ, 0.7% YoY) vs. Expected Rs. 10695.6Cr, QoQ Rs. 10673.1Cr, YoY Rs. 10531.9Cr
EBIDTA stood at Rs. 4,335.8 Cr (-0.3% QoQ, 3% YoY) vs. Expected Rs. 4321.3 Cr, QoQ Rs. 4,350.4 Cr, YoY Rs. 4210.3Cr
EBITDA margin was 40.9% compared to the forecast of 40.4%, 40.8% compared to the previous quarter, and 40% compared to the same period last year
Adjustment PAT was Rs. -7674.6Cr vs. Expected Rs -7557.1Cr, QoQ of Rs. -7741.4Cr,YoY Rs.-6396.5Cr
Quarterly EPS is -1.2 rupees
The stock is trading at a P/E ratio of 2.3 times FY25E EPS.
Restaurant Brands Asia Ltd. | CMP Rs. 103 | M Cap Rs. 5103 Chrome | 52 WH/L 138/95
(Nirmal Bang Retail Research)
Results exceed expectations
Revenue from operations was Rs 1 million. 5,971 Cr (-1.2% QoQ, 16.2% YoY) vs. expected Rs. 589.9 Cr, QoQ Rs. 6,04.2 Cr, YoY Rs. 514 Cr
EBIDTA stood at Rs. 69.2Cr (1.3% QoQ, 152.9% YoY) vs. Expected Rs. 58.5Cr, Rs. 68.4Cr QoQ, Rs. 27.4Cr YoY
EBITDA margin was 11.6% versus the expected 9.9%, 11.3% sequentially, and 5.3% sequentially.
Adjustment PAT was Rs. -85.3Cr vs. Estimate of Rs -54.4Cr, QoQ -36.2Cr, YoY -73.4Cr
Quarterly EPS is -1.7 rupees
The stock is trading at a P/E ratio of -38.2x FY25E EPS.
DCW Co., Ltd. | CMP Rs. 52 | M Cap Rs. 1534 Chrome | 52 WH/L 72/42
(Nirmal Bang Retail Research)
Improved results
Revenue from operations was Rs 1 million. 6,21.7 Cr (56.3% QoQ, 5.7% YoY) vs. Rs. 397.8 Cr, QoQ 588.1 Cr
EBIDTA stood at Rs. 63.4 Cr (226.9% QoQ, -36.2% YoY) vs. Rs. 19.4Cr QoQ, Rs. 99.4Cr YoY
EBITDA margin of 4.9% QoQ and 10.2% vs. 16.9% YoY
Adjustment PAT was Rs. 15.3Cr QoQ Rs. -11.2Cr, YoY 35.4Cr
Quarterly EPS is Rs. 0.5
The stock trades at a P/E of 91.5x TTM EPS
Prince Pipe and Fitting Co., Ltd. | CMP Rs. 660 | M Cap Rs. 7296 Chrome | 52WH/L776/505
(Nirmal Bang Retail Research)
Results were below expectations
Revenue from operations was Rs 1 million. 7,401 Cr (19.6% QoQ, -3.2% YoY) vs. expected Rs. 691.4 Cr, QoQ Rs. 6,18.6 Cr, YoY 764.4 Cr
EBIDTA was 9.23 billion rupees (21.9% QoQ, -37.8% y/y), lower than expectations of 9.28 billion rupees, 7.57 billion yen QoQ, and 14.83 billion yen YoY.
EBITDA margin was 12.5% against the forecast of 13.4%, 12.2% sequentially, and 19.4% YoY.
Adjustment PAT was Rs. 54.7 Cr vs. Rs. 53.1 Cr, QoQ Rs. 37.6 Cr, YoY Rs. 94.1 Cr
Quarterly EPS is Rs. 4.9
The stock is trading at a P/E ratio of 31.7 times FY2025 EPS.
DCX Systems Co., Ltd. | CMP Rs. 321 | M Cap Rs. 3573 Chrome | 52 WH/L 393/178
(Nirmal Bang Retail Research)
grades are declining
Revenue from operations was Rs 1 million. 7,462 Cr (276.6% QoQ, 46.2% YoY) vs. Rs. 198.2Cr QoQ, Rs. 510.5Cr YoY
EBIDTA stood at Rs. 37.9 Cr (159.2% QoQ, -17.4% YoY) vs. Rs. 14.6 Cr QoQ, Rs. 45.9 Cr YoY
EBITDA margin was 5.1%, 7.4% QoQ, 9% YoY.
Adjusted profit was 3.3 billion rupees (1.34 billion rupees in the previous quarter and 4.11 billion rupees in the same period last year)
Quarterly EPS is Rs.
The stock trades at a P/E of 47.2 times TTM EPS
Ratnamani Metals & Tubes Ltd. | CMP Rs. 3150 | M Cap Rs. 22080Cr | 52WH/L 3939/2129
(Nirmal Bang Retail Research)
Results exceeding expectations
Revenue from operations was Rs 1 million. 1,495.7 Cr (19% QoQ, -0.2% YoY) vs. Expected Rs. 1324.2 Cr, QoQ Rs. 1257.3 Cr, YoY Rs. 1499.1 Cr
EBIDTA stood at Rs. 2,457 Cr (22.6% QoQ, -18.3% YoY) vs. expected Rs. 237.3 Cr, QoQ Rs. 2,003 Cr, 300.6 Cr YoY
EBITDA margin of 16.4% versus expected 17.9%, 15.9% sequentially and 20% YoY
Adjusted PAT was Rs. 192.2 Cr vs. expected Rs. 163 Cr, QoQ Rs. 132.9 Cr and YoY Rs. 191.6 Cr
Quarterly EPS is Rs. 27.4
The stock trades at 18x EV/EBITDA of fiscal 2026 EBITDA.
Jain Irrigation System Co., Ltd. | CMP Rs. 69 | M Cap Rs. 4632 Chromium | 52 WH/L 73/35
(Nirmal Bang Retail Research)
Improved results
Revenue from operations was Rs 1 million. 17,26.6 Cr (27.2% QoQ, -1.1% YoY) vs. Rs. 1357.8Cr QoQ, Rs. 1745.4 Cr YoY
EBIDTA stood at Rs. 2,24.2 Cr (35.8% QoQ, 67.3% YoY) vs. Rs. 165.1Cr QoQ, Rs. 134Cr YoY
EBITDA margin was 13%, 12.2% QoQ and 7.7% YoY.
Adjustment PAT was Rs. -8.8Cr QoQ vs. Rs. 9.8Cr, YoY Rs. 983.7Cr
Quarterly EPS is Rs. -0.1
The stock trades at a P/E ratio of 102.4 times TTM EPS.
Patel Engineering Ltd. | CMP 59 Rupees | M Cap 4982 Rupees | 52 WH/L 79/20
(Nirmal Bang Retail Research)
Improved results
Revenue from operations was Rs. 13,43.2 Cr (26.6% QoQ, 3.5% YoY) vs. Rs. 1,061 Cr QoQ, Rs. 12.98 Cr YoY
EBIDTA stood at Rs. 237.6 Cr (67.2% QoQ, 31.6% YoY) vs. Rs. 142.1Cr QoQ, Rs. 180.6Cr YoY
EBITDA margin was 17.7%, 13.4% QoQ, 13.9% YoY.
Adjustment PAT was Rs. 79.9Cr QoQ vs. Rs. 31.9Cr, YoY Rs. 77.9Cr
Quarterly EPS is Rs. 0.9
The stock trades at a P/E of 26.5x TTM EPS
Ujjivan Small Finance Bank Ltd. | CMP Rs. 53 | M Cap Rs. 10464 Chrome | 52 WH/L 63/26
(Nirmal Bang Retail Research)
The results exceeded expectations
The payment was made in Rs. 6681 Cr YoY 6,001 Cr, QoQ Rs. 5675 Cr
Advance payment was 297.79 billion rupees (24% YoY, 7.2% QoQ)
Net interest income was Rs. 200 Cr. 934 Cr YoY vs. Rs. 738 Cr and QoQ vs. Rs. 860 Cr
NIM is 9.4% QoQ 8.8%
Non-interest income was Rs.1 million. 236Cr YoY vs. Rs. 179 Cr, QoQ vs. Rs. 185Cr
PBP was Rs. 519Cr YoY vs. Rs. 411Cr QoQ
The groceries arrived for Rs. 79Cr vs. Expected Rs. 79Cr, YoY Rs. -2Cr, QoQ Rs. 63Cr
Credit cost was 1.1%, 0% YoY, 0.9% QoQ.
Adjustment PAT was Rs. 330 Cr vs. Expected Rs. 308 Cr, QoQ Rs. 310 Cr, QoQ Rs. 300 Cr
Total NPAs were Rs. 613Cr vs. QoQ Rs. 571 Cr 2.23% vs. QoQ 2.18%
Net NPA was Rs. 76 Cr vs. Rs. 43 Cr 0.28% vs. QoQ 0.17%
ROA is 3.4% QoQ 3.1%
Quarterly EPS is 1.7 rupees
The stock price is 7.7 times PER in FY2015 EPS, and the BV after stock price adjustment is 1.9 times.
Tide Water Oil Company (India) Ltd. | CMP Rs. 1937 | M Cap Rs. 3375 Chrome | 52 WH/L 1937/858
(Nirmal Bang Retail Research)
Improved results
Revenue from operations was Rs 1 million. 4,868.8 Cr (-1.9% QoQ, 3.6% YoY) vs. Rs. 496.5Cr QoQ, Rs. 469.9Cr YoY
EBIDTA stood at Rs. 47.2 Cr (13.5% QoQ, 15.7% YoY) vs. Rs. 41.6Cr QoQ, Rs. 40.8Cr YoY
EBITDA margin was 9.7%, 8.4% QoQ, 8.7% YoY.
Adjustment PAT was Rs. 42.9Cr QoQ vs. Rs. 33.6Cr, YoY vs. Rs. 34.4Cr
Quarterly EPS is Rs. 24.6
The stock trades at a P/E of 23.6x TTM EPS
Dodora Dairy Co., Ltd. | CMP Rs. 1011 | M Cap Rs. 6015 Chrome | 52WH/L1084/475
(Nirmal Bang Retail Research)
The result is OK
Revenue from operations was Rs 1 million. 7,875 Cr (5.4% QoQ, 8.7% YoY) vs. Rs. 7,46.8 Cr, QoQ 724.3Cr
EBIDTA stood at Rs. 75.4 Cr (-8.9% QoQ, 123.7% YoY) vs. Rs. 82.8 Cr QoQ, Rs. 33.7 Cr YoY
EBITDA margin was 9.6% compared to 11.1% QoQ and 4.7% YoY.
Adjustment PAT was Rs. 46.8Cr QoQ vs. Rs. 41.3Cr, YoY Rs. 22.5Cr
Quarterly EPS is Rs. 7.9
The stock is trading at a P/E ratio of 27.9 times FY25 EPS.
Data Patterns (India) Ltd. | CMP Rs. 2959 | M Cap Rs. 16566 Chrome | 52WH/L 3210/1512
(Nirmal Bang Retail Research)
Results were below expectations
The order form was Rs. 1083Cr vs QoQ Rs. 963 Cr and YoY Rs. 924Cr
Order inflow reached Rs 100 million. 294Cr vs QoQ Rs. 99Cr, YoY Rs. 221Cr
The order inflow for FY24 was Rs 20 billion. 670 Cr vs. Rs. 901 Cr in FY23
Revenue from operations was Rs 1 million. 182.3 Cr (30.7% QoQ, -1.5% YoY) vs. expected Rs. 243.9 Cr, QoQ Rs. 139.5 Cr, YoY Rs. 185.1 Cr
EBIDTA stood at Rs 20 billion. 93Cr (54.9% QoQ, 26.8% YoY) vs. expected Rs.97.7Cr, QoQ of Rs. 60Cr, YoY increase of Rs. 73.4Cr
EBITDA margin was 51% compared to the forecast of 40.1%, 43% YoY, and 39.6% YoY
Adjustment PAT was Rs. 71.1Cr vs. Expected Rs. 77.3Cr, QoQ Rs. 51Cr, YoY Rs. 55.4Cr
Quarterly EPS is Rs. 12.7
The stock is trading at a P/E ratio of 65.6 times FY26 EPS.
