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>The building materials sector experienced muted demand in Q2FY26, impacted by heavy rainfall</li><li>We project a 7% YoY revenue growth for our coverage universe, driven by volume growth, leading to an 11% YoY growth in EBITDA and a 7% YoY increase in APAT</li><li>We believe that the volume growth of major tile companies was negatively affected by weak export performance and soft domestic demand</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.

The building materials sector experienced muted demand in Q2FY26, impacted by heavy rainfallWe project a 7% YoY revenue growth for our coverage universe, driven by volume growth, leading to an 11% YoY growth in EBITDA and a 7% YoY increase in APATWe believe that the volume growth of major tile companies was negatively affected by weak export performance and soft domestic demandContent 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.

Building Materials (Q2FY26 Results Preview): Demand recovery yet to come

<ul><li>The building materials sector experienced soft demand in Q1FY26</li><li>Demand was satisfactory in April and May but decelerated in June due to the early onset of monsoons</li><li>We project a 6% YoY revenue growth for our coverage universe, driven by volume growth</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.

The building materials sector experienced soft demand in Q1FY26Demand was satisfactory in April and May but decelerated in June due to the early onset of monsoonsWe project a 6% YoY revenue growth for our coverage universe, driven by volume growthContent 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.

Building Materials (Q1FY26 Results Preview): Another Subdued Quarter

<ul><li>Dixon Technologies: Dixon reported yet another quarter of strong operational performance with revenue/EBITDA growing by 117%/112% (+7%/+8% vs HSIE), led by 2.9x growth in the mobile &amp; EMS division revenues (ramp in volumes with existing customers and consolidation of the Ismartu acquisition)</li><li>Having achieved c.21mn smartphones in 9M, Dixon remains on track to close the year with c 30mn units</li><li>Commercialization of the display module facility remains on track to go online in 1HFY26 while it continues to look to further deepen backward integration capabilities through partnerships for precision components, mechanicals, camera modules, and battery packs</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.

Dixon Technologies: Dixon reported yet another quarter of strong operational performance with revenue/EBITDA growing by 117%/112% (+7%/+8% vs HSIE), led by 2.9x growth in the mobile &amp; EMS division revenues (ramp in volumes with existing customers and consolidation of the Ismartu acquisition)Having achieved c.21mn smartphones in 9M, Dixon remains on track to close the year with c 30mn unitsCommercialization of the display module facility remains on track to go online in 1HFY26 while it continues to look to further deepen backward integration capabilities through partnerships for precision components, mechanicals, camera modules, and battery packsContent 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: Dixon Technologies, Supreme Industries, Karur Vysya Bank, Can Fin Homes

External broker reports(aggregated public sources), Sharekhan

Sharekhan

Sharekhan is India's leading broking house providing services from easy online trading, research to wide array of financial products. 

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>Q2FY2025 earnings performance lagged estimates led by sharp volatility in PVC prices, weak infrastructure demand and extended monsoons.</li><li>However, adjusted OPMs beat estimates.</li><li>The management lowered overall volume growth guidance to 14-15% y-o-y and plastic piping volume growth to 16-18% y-o-y for FY2025. Consolidated OPM guidance marginally lowered to 14.5-15.25%.</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.

Q2FY2025 earnings performance lagged estimates led by sharp volatility in PVC prices, weak infrastructure demand and extended monsoons.However, adjusted OPMs beat estimates.The management lowered overall volume growth guidance to 14-15% y-o-y and plastic piping volume growth to 16-18% y-o-y for FY2025. Consolidated OPM guidance marginally lowered to 14.5-15.25%.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.

Supreme Industries Ltd - Steep PVC Volatility Dent Q2; Dip Offers Buying Opportunity

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>In Q2FY25, Supreme Industries (SI) reported disappointing operational performance.</li><li>Blended plastic volume was flat YoY with pipes volume being flat too YoY (-27.1% QoQ; 5-year CAGR of 8.6%).</li><li>As per management, volumes were tepid in Q2 due to PVC price volatility, adverse weather and low infra spending.</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.

In Q2FY25, Supreme Industries (SI) reported disappointing operational performance.Blended plastic volume was flat YoY with pipes volume being flat too YoY (-27.1% QoQ; 5-year CAGR of 8.6%).As per management, volumes were tepid in Q2 due to PVC price volatility, adverse weather and low infra spending.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.

Supreme Industries - Volumes and Profitability Disappoint; Pipe Volume Guidance Cut Sharply

India

Supreme Industries Limited manufactures industrial and engineered molded products and storage and material handling crates.  The Company also manufactures chemicals, multilayer sheets, multilayer films, packaging films and expanded polyethylene foam, PVC pipes and fittings, molded furniture and disposable EPS containers.

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Supreme Industries (SI IN)

Building Materials (Q2FY26 Results Preview): Demand recovery yet to come

We project a 7% YoY revenue growth for our coverage universe, driven by volume growth, leading to an 11% YoY growth in EBITDA and a 7% YoY increase...

HDFC Securities

Building Materials (Q1FY26 Results Preview): Another Subdued Quarter

The building materials sector experienced soft demand in Q1FY26. Demand was satisfactory in April and May but decelerated in June due to the early...

HDFC Securities

HSIE Results Daily: Dixon Technologies, Supreme Industries, Karur Vysya Bank, Can Fin Homes

Dixon reported yet another quarter of strong operational performance with revenue/EBITDA growing by 117%/112% (+7%/+8% vs HSIE)

HDFC Securities

Supreme Industries Ltd - Steep PVC Volatility Dent Q2; Dip Offers Buying Opportunity

Q2FY2025 earnings performance lagged estimates led by sharp volatility in PVC prices, weak infrastructure demand and extended monsoons. However,...

Sharekhan

Supreme Industries - Volumes and Profitability Disappoint; Pipe Volume Guidance Cut Sharply

In Q2FY25, Supreme Industries (SI) reported disappointing operational performance. Blended plastic volume was flat YoY with pipes volume being flat...

ICICI Securities Limited

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