External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

External broker reports(aggregated public sources)

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and 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.

Equity Bottom-Up

<ul><li>Shree Cement (SRCM)’s 2QFY25 EBITDA was in line as lower-than-estimated realization/t was offset by lower-than-estimated opex/t.</li><li>EBITDA declined ~32% YoY to INR5.9m (in line), and EBITDA/t declined 27% YoY to INR780 (est. INR815).</li><li>OPM contracted 3pp YoY to 16%. PAT declined 81% YoY to INR931m (vs. est. of INR738m, due to lower tax provisioning).</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.

Shree Cement (SRCM)’s 2QFY25 EBITDA was in line as lower-than-estimated realization/t was offset by lower-than-estimated opex/t.EBITDA declined ~32% YoY to INR5.9m (in line), and EBITDA/t declined 27% YoY to INR780 (est. INR815).OPM contracted 3pp YoY to 16%. PAT declined 81% YoY to INR931m (vs. est. of INR738m, due to lower tax provisioning).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.

Shree Cement - In-Line EBITDA; Strategic Hurdles Loom in the near Term

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>Capacity expansion progressing well: The work on the capacity expansion program already announced by the company is running as per the schedule.</li><li>We believe these are positive moves and will allow the company to catch up with its larger peers and strengthen its footprint.</li><li>We estimate Shree Cement to post volume growth of 10% CAGR over FY23-FY26E.</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.

Capacity expansion progressing well: The work on the capacity expansion program already announced by the company is running as per the schedule.We believe these are positive moves and will allow the company to catch up with its larger peers and strengthen its footprint.We estimate Shree Cement to post volume growth of 10% CAGR over FY23-FY26E.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.

Shree Cement Limited - Results Below Expectations; Retain HOLD

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>NIFTY 50 represents the 50 largest stocks listed in the National Stock Exchange (NSE) of India and the NIFTY Next 50 index tracks the next 50 largest names.</li>
<li>In this insight, we take a look at the names leading the race to become ADDs/DELs for these indices in the March 2025 index rebal event.</li>
<li>The recently-listed <a href="https://www.smartkarma.com/entities/hyundai-motor-india-ltd" target="_blank" data-smartkarma-citation="entities:40900:1" rel="noopener">Hyundai Motor India (1342Z IN)</a> could see some index inflows during the March 2025 rebal. <a href="https://www.smartkarma.com/entities/zomato-ltd" target="_blank" data-smartkarma-citation="entities:28820:1" rel="noopener">Zomato (ZOMATO IN)</a> and <a href="https://www.smartkarma.com/entities/jio-financial-services-limited" target="_blank" data-smartkarma-citation="entities:40042:1" rel="noopener">Jio Financial (JIOFIN IN)</a> could also get involved.</li>
</ul>


NIFTY 50 represents the 50 largest stocks listed in the National Stock Exchange (NSE) of India and the NIFTY Next 50 index tracks the next 50 largest names.
In this insight, we take a look at the names leading the race to become ADDs/DELs for these indices in the March 2025 index rebal event.
The recently-listed Hyundai Motor India (1342Z IN) could see some index inflows during the March 2025 rebal. Zomato (ZOMATO IN) and Jio Financial (JIOFIN IN) could also get involved.


Quiddity Leaderboard NIFTY Mar 25: Thoughts on Hyundai Motor, Zomato, and Jiofin

CG Power and Industrial Solutions / Index Rebalance

CG Power and Industrial Solutions (CGPOWER IN)

<ul>
<li>NIFTY 50 represents the 50 largest stocks listed in the National Stock Exchange (NSE) of India and the NIFTY Next 50 index tracks the next 50 largest names.</li>
<li>In this insight, we take a look at the names leading the race to become ADDs/DELs for these  indices in the March 2025 index rebal event.</li>
<li>There are no changes for NIFTY 50 but there could be four changes for NIFTY Next 50 according to current rankings.</li>
</ul>


NIFTY 50 represents the 50 largest stocks listed in the National Stock Exchange (NSE) of India and the NIFTY Next 50 index tracks the next 50 largest names.
In this insight, we take a look at the names leading the race to become ADDs/DELs for these  indices in the March 2025 index rebal event.
There are no changes for NIFTY 50 but there could be four changes for NIFTY Next 50 according to current rankings.


Quiddity Leaderboard NIFTY Mar 25: Four Changes Likely for NIFTY Next 50 + Hyundai Motor India IPO

<ul><li>Capacity expansion progressing well: During the quarter, the company reported volume growth of 8% at 9.64 mtpa and was better than other larger peers in the industry.</li><li>The company recently commissioned its Guntur plant in Andhra Pradesh with 1.5 mtpa Clinker and 3 mtpa grinding capacity.</li><li>The work on the capacity expansion program already announced by the company is running as per the schedule. </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.

Capacity expansion progressing well: During the quarter, the company reported volume growth of 8% at 9.64 mtpa and was better than other larger peers in the industry.The company recently commissioned its Guntur plant in Andhra Pradesh with 1.5 mtpa Clinker and 3 mtpa grinding capacity.The work on the capacity expansion program already announced by the company is running as per the schedule. 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.

Shree Cement Limited - Soft Cement Prices & Higher Cost Hurt Profitabilty

India

Shree Cement is an Indian cement manufacturer and one of the largest producers in the country. The company manufactures and sells various cement products, including Ordinary Portland Cement (OPC), Portland Pozzolana Cement (PPC), Portland Slag Cement (PSC), and ready-mix concrete. It also operates in power generation. Shree Cement was founded in 1979 and is headquartered in Kolkata, India.

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Shree Cement (SRCM IN)

Shree Cement - In-Line EBITDA; Strategic Hurdles Loom in the near Term

Shree Cement (SRCM)’s 2QFY25 EBITDA was in line as lower-than-estimated realization/t was offset by lower-than-estimated opex/t.

Motilal Oswal

Shree Cement Limited - Results Below Expectations; Retain HOLD

Capacity expansion progressing well: The work on the capacity expansion program already announced by the company is running as per the schedule.

Axis Direct

Quiddity Leaderboard NIFTY Mar 25: Thoughts on Hyundai Motor, Zomato, and Jiofin

There are no changes for NIFTY 50 but there could be five changes for NIFTY Next 50 according to current rankings. Only 54% of the reference period...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard NIFTY Mar 25: Four Changes Likely for NIFTY Next 50 + Hyundai Motor India IPO

Hindustan Aeronautics is the top potential ADD and Eicher Motors is the top potential DEL for NIFTY 50. To trigger an index change, Hindustan...

Janaghan Jeyakumar, CFA

Shree Cement Limited - Soft Cement Prices & Higher Cost Hurt Profitabilty

Capacity expansion progressing well: During the quarter, the company reported volume growth of 8% at 9.64 mtpa and was better than other larger...

Axis Direct

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