External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul><li>Dalmia Bharat: We maintain our BUY rating on Dalmia Bharat (DALBHARA), with an unchanged TP of INR 2,145/sh (13x its Sep-24E consolidated EBITDA)</li><li>We continue to like DALBHARA for its robust volume and margin outlook along with balance sheet prudence</li><li>Dalmia reported healthy volume growth (+13% YoY)</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Dalmia Bharat: We maintain our BUY rating on Dalmia Bharat (DALBHARA), with an unchanged TP of INR 2,145/sh (13x its Sep-24E consolidated EBITDA)We continue to like DALBHARA for its robust volume and margin outlook along with balance sheet prudenceDalmia reported healthy volume growth (+13% YoY)Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily: Dalmia Bharat, Mahindra & Mahindra Financial Services

External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Axis Top Picks basket delivered an encouraging return of 3% in Oct’22, outperforming the benchmark Index NIFTY 50 over the last three and six-month periods.</li><li>Furthermore, the basket has delivered an impressive return of 150% since its inception (May'20), which stands significantly higher than the 94% returns delivered by NIFTY 50 over the same period.</li><li>In view of this robust performance, we continue to believe in our thematic approach in our Top Picks selections.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Axis Top Picks basket delivered an encouraging return of 3% in Oct’22, outperforming the benchmark Index NIFTY 50 over the last three and six-month periods.Furthermore, the basket has delivered an impressive return of 150% since its inception (May'20), which stands significantly higher than the 94% returns delivered by NIFTY 50 over the same period.In view of this robust performance, we continue to believe in our thematic approach in our Top Picks selections.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Top Picks -Earnings Commentary & The Direction of Dollar Index to Drive Market

External broker reports(aggregated public sources), Emkay Global Financial Services Limited

Emkay

Emkay Global Financial Services Limited

Emkay Global Financial Services Ltd. is a leader in the financial services sector, actively creating wealth for our clients for over two decades. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Dalmia Bharat Sugar and Industries / Equity Bottom-Up

<div><div><div><div></div></div></div></div><div><div><div><div><div><div><div><div><ul><li>Revenue increased 7% YoY to Rs33.8bn. Volumes rose 3% YoY/16% QoQ to 6.6mt. </li></ul><div><div><div><div><ul><li>EBITDA declined 11% YoY/increased 66% QoQ to Rs6.8bn (Emkay est. - Rs5.6bn).</li><li>Project updates: Dalmia expects to commission 4mt debottlenecking capacity by Mar’23. </li></ul></div></div></div></div></div></div></div></div></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Revenue increased 7% YoY to Rs33.8bn. Volumes rose 3% YoY/16% QoQ to 6.6mt. EBITDA declined 11% YoY/increased 66% QoQ to Rs6.8bn (Emkay est. - Rs5.6bn).Project updates: Dalmia expects to commission 4mt debottlenecking capacity by Mar’23. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Dalmia Bharat - Realization Drives EBITDA Beat; Outlook Cautious

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Dalmia Bharat Sugar (DBS) is the only sugar company present in UP and in Maharashtra</li><li>The company has sugar crushing capacity of 38250 TCD (6 ltpa), distillery capacity of 540 KLD (16 crore litre pa), co-generation capacity of 102 MW &amp; wind power of 16.5 MW (total 30 crore units saleable power)</li><li>Target Price and Valuation: We value the stock at Rs 660, ascribing a multiple of 14x FY23 earnings.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Dalmia Bharat Sugar (DBS) is the only sugar company present in UP and in MaharashtraThe company has sugar crushing capacity of 38250 TCD (6 ltpa), distillery capacity of 540 KLD (16 crore litre pa), co-generation capacity of 102 MW &amp; wind power of 16.5 MW (total 30 crore units saleable power)Target Price and Valuation: We value the stock at Rs 660, ascribing a multiple of 14x FY23 earnings.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Dalmia Bharat Sugar: Increase of 3x in Distillery Sales to Boost Profits

<p>With the increasing profitability &amp; reduction in sugar inventories, DBS would be generating cumulative free cash flow of Rs 626 crore in the next three years despite ~Rs 700 crore capex...</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

With the increasing profitability &amp; reduction in sugar inventories, DBS would be generating cumulative free cash flow of Rs 626 crore in the next three years despite ~Rs 700 crore capex...Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Dalmia Bharat Sugar: Steady Performance; Reaches Net-Debt Free Status

India

Dalmia Bharat Sugar and Industries Ltd. produces sugar. The Company operates sugarcane crushing plants in Uttar Pradesh.

Dalmia Bharat Sugar and Industries (DCB IN)

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Dalmia Bharat Sugar and Industries (DCB IN)

HSIE Results Daily: Dalmia Bharat, Mahindra & Mahindra Financial Services

Dalmia Bharat: We maintain our BUY rating on Dalmia Bharat (DALBHARA), with an unchanged TP of INR 2,145/sh (13x its Sep-24E consolidated EBITDA)

HDFC Securities

Top Picks -Earnings Commentary & The Direction of Dollar Index to Drive Market

Axis Top Picks - Nov 22Content is external broker report sourced from online content aggregator through publicly available sources and is displayed...

Axis Direct

Dalmia Bharat - Realization Drives EBITDA Beat; Outlook Cautious

Dalmia Bharat’s Q4FY22 EBITDA declined 11% YoY but increased 66% QoQ to Rs6.8bn, significantly above our and consensus estimates, owing to better...

Emkay

Dalmia Bharat Sugar: Increase of 3x in Distillery Sales to Boost Profits

With the increasing profitability and reduction in sugar inventories, DBS would be generating cumulative free cash flow of Rs 718 crore in the next...

ICICI Securities Limited

Dalmia Bharat Sugar: Steady Performance; Reaches Net-Debt Free Status

With the increasing profitability & reduction in sugar inventories, DBS would be generating cumulative free cash flow of Rs 626 crore in the next...

ICICI Securities Limited

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)