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>Oil India: Our BUY recommendation on Oil India with a revised target price of INR 490 is premised on oil production growth at 10% CAGR and gas production growth at 21% CAGR over FY25-27E</li><li>Q4FY25 standalone EBITDA at INR 19.8bn (-15% YoY, -7% QoQ) and PAT at INR 15.9bn (-21.6% YoY, +30.3% QoQ) came in below our estimates due to lower-than-expected volume and higher opex</li><li>Oil and gas production stood at 1.65mmtoe (-0.2%YoY, -2.8% QoQ). Medplus Health Services: EBITDA^ grew 29% YoY despite muted sales (pharmacy +1% YoY, diagnostics +21% YoY) and higher staff costs (+21%), led by 398 bps YoY expansion in gross margin (driven by increased private label share to 23.3%) and flat SG&amp;A</li></ul>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.

Oil India: Our BUY recommendation on Oil India with a revised target price of INR 490 is premised on oil production growth at 10% CAGR and gas production growth at 21% CAGR over FY25-27EQ4FY25 standalone EBITDA at INR 19.8bn (-15% YoY, -7% QoQ) and PAT at INR 15.9bn (-21.6% YoY, +30.3% QoQ) came in below our estimates due to lower-than-expected volume and higher opexOil and gas production stood at 1.65mmtoe (-0.2%YoY, -2.8% QoQ). Medplus Health Services: EBITDA^ grew 29% YoY despite muted sales (pharmacy +1% YoY, diagnostics +21% YoY) and higher staff costs (+21%), led by 398 bps YoY expansion in gross margin (driven by increased private label share to 23.3%) and flat SG&amp;AContent 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: Oil India, Medplus Health Services, JK Lakshmi Cement, Sansera Engineering

<ul><li>Mahindra &amp; Mahindra: Mahindra &amp; Mahindra’s Q3FY25 standalone EBITDA margin at 14.6% was in line with our estimate of 14.6% and Bloomberg consensus estimate of 14.7%</li><li>The auto division’s EBIT margin at 9.7% is impressive, though it might moderate going forward as the company ramps up contract manufacturing for its ePV subsidiary Mahindra Electric Automobile Ltd (MEAL)</li><li>The farm division’s EBIT margin at 18.1% was impacted by the growing farm machinery business, and adjusted for it, the core tractor EBIT margin would have been 19.5%</li></ul>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.

Mahindra &amp; Mahindra: Mahindra &amp; Mahindra’s Q3FY25 standalone EBITDA margin at 14.6% was in line with our estimate of 14.6% and Bloomberg consensus estimate of 14.7%The auto division’s EBIT margin at 9.7% is impressive, though it might moderate going forward as the company ramps up contract manufacturing for its ePV subsidiary Mahindra Electric Automobile Ltd (MEAL)The farm division’s EBIT margin at 18.1% was impacted by the growing farm machinery business, and adjusted for it, the core tractor EBIT margin would have been 19.5%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: Mahindra & Mahindra, Hero Motocorp, Oil India, Thermax

<ul><li>State Bank of India: SBIN’s earnings beat our estimates on the back of higher treasury/MTM gains backed by healthy loan growth, largely stable margins and in-line asset quality</li><li>Loan growth (+15% YoY) was strong across segments even as the Xpress credit portfolio continued to decelerate</li><li>Deposit growth (+9% YoY, +4.4% QoQ) was marginally soft as the CASA ratio dropped further to 38.4% (-64 bps QoQ), given that strong CA traction was offset by sluggish growth in SA balances</li></ul>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.

State Bank of India: SBIN’s earnings beat our estimates on the back of higher treasury/MTM gains backed by healthy loan growth, largely stable margins and in-line asset qualityLoan growth (+15% YoY) was strong across segments even as the Xpress credit portfolio continued to decelerateDeposit growth (+9% YoY, +4.4% QoQ) was marginally soft as the CASA ratio dropped further to 38.4% (-64 bps QoQ), given that strong CA traction was offset by sluggish growth in SA balancesContent 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: State Bank of India, Tata Motors, Oil India, Ashok Leyland, Gujarat Gas

HSIE Results Daily: State Bank of India, Tata Motors, Oil India, Ashok Leyland

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

<ul><li>Oil India clocked Q2FY25 SA EBITDA of Rs21.8bn – an 11% miss, mainly due to higher provisions and lower-than-expected output.</li><li>The SA PAT miss, however, was lower at 6% on higher Other Income and lower ETR.</li><li>Crude production rose 5% YoY to 0.88mmt (2% miss), while gas was 3% below estimate at 0.80bcm (down 1% YoY on customer offtake issues).</li></ul>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.

Oil India clocked Q2FY25 SA EBITDA of Rs21.8bn – an 11% miss, mainly due to higher provisions and lower-than-expected output.The SA PAT miss, however, was lower at 6% on higher Other Income and lower ETR.Crude production rose 5% YoY to 0.88mmt (2% miss), while gas was 3% below estimate at 0.80bcm (down 1% YoY on customer offtake issues).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.

Oil India - Provisions and Offtake Issues Dent Q2

India

Oil India Ltd. explores, develops, and produces crude oil and natural gas in India and internationally. The Company is also involved in the transportation of crude oil, production of liquefied petroleum gas, pipeline services, as well as various exploration and production related services.

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

Oil India Ltd (OINL IN)

HSIE Results Daily: Oil India, Medplus Health Services, JK Lakshmi Cement, Sansera Engineering

Our BUY recommendation on Oil India with a revised target price of INR 490 is premised on oil production growth at 10% CAGR and gas production...

HDFC Securities

HSIE Results Daily: Mahindra & Mahindra, Hero Motocorp, Oil India, Thermax

Mahindra & Mahindra: Mahindra & Mahindra’s Q3FY25 standalone EBITDA margin at 14.6% was in line with our estimate of 14.6% and Bloomberg...

HDFC Securities

HSIE Results Daily: State Bank of India, Tata Motors, Oil India, Ashok Leyland, Gujarat Gas

SBIN’s earnings beat our estimates on the back of higher treasury/MTM gains backed by healthy loan growth, largely stable margins and in-line asset...

HDFC Securities

HSIE Results Daily: State Bank of India, Tata Motors, Oil India, Ashok Leyland

State Bank of India: SBIN’s earnings beat our estimates on the back of higher treasury/MTM gains backed by healthy loan growth, largely stable...

HDFC Securities

Oil India - Provisions and Offtake Issues Dent Q2

Oil India clocked Q2FY25 SA EBITDA of Rs21.8bn – an 11% miss, mainly due to higher provisions and lower-than-expected output.

Emkay

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)