In today’s briefing:
- Grab Holdings’ Fintech Gamble: Will Its Banking Bet Finally Pay Off by 2026?
- Taiwan Tech Weekly: Mediatek’s New Chip Could Outperform Apple’s; Samsung Beats TSMC, Wins Nintendo
- Welspun Living: Navigating with Strategic Diversification and Domestic Focus
- Ecolab’s AI Mousetraps Are Just the Beginning—Is This the Future of Pest Control?
- Triveni Engineering & Industries: Mega Restructuring & Stellar Performance
- The Beat Ideas: Finolex Industries Ltd ~ Vertically Integrated PVC Manufacturer
- Vesuvius India Ltd (NSE: VESUVIUS) – A High-Quality Play on India’s Steel Upswing
- Kobo Resources Inc – Mining Monthly: May Edition
- 2025 Sees Strong Start to Share Buybacks
- NATCO Pharma Limited: Record Year Performance Overshadowed by Cautious FY26 Outlook
Grab Holdings’ Fintech Gamble: Will Its Banking Bet Finally Pay Off by 2026?
- The recent earnings of Grab Holdings Limited for the first quarter of 2025 presented a mixed picture of the company’s performance and strategic outlook.
- On the positive side, Grab reported robust growth, with a 17% year-over-year increase in on-demand Gross Merchandise Value (GMV) and a record number of monthly transacting users.
- This growth translated into another quarter of record revenues.
Taiwan Tech Weekly: Mediatek’s New Chip Could Outperform Apple’s; Samsung Beats TSMC, Wins Nintendo
- Rumors That Mediatek’s Upcoming Chips Could Outperform Apple’s Chips Used in the iPhone 17
- Samsung Beats TSMC to Win Key Nintendo Switch 2 Contract
- PC Monitor: Commercial PC Demand Resilient; AI PC Momentum Builds W/ NVDA Blackwell-Powered Launches
Welspun Living: Navigating with Strategic Diversification and Domestic Focus
- FY25 consolidated revenue surpassed INR 10,000 crore mark, increasing 8.9% year-on-year. Emerging businesses contributed over 30% to revenue.
- Despite achieving the revenue milestone, Q4 performance and FY25 margins were impacted by cautious customer order patterns due to US tariff uncertainty.
- The company is de-risking its geographical exposure by reducing reliance on the US while focusing on the potential from the UK FTA and strengthening its domestic presence, through strategic acquisition.
Ecolab’s AI Mousetraps Are Just the Beginning—Is This the Future of Pest Control?
- In reviewing Ecolab’s first-quarter 2025 financial performance, the company demonstrated notable strengths alongside areas presenting challenges.
- Ecolab reported double-digit earnings per share (EPS) growth, achieving a 12% increase, even as organic sales climbed by 3%.
- This robust performance highlights the company’s ability to maintain an upward trajectory despite a weakening demand in some end markets.
Triveni Engineering & Industries: Mega Restructuring & Stellar Performance
- Triveni reported record revenue and PAT for Q4 FY25, largely driven by the exceptional performance of the Power Transmission business and improved sugar realisations despite operational challenges
- The strong performance of the Power Transmission segment and strategic focus on exports highlights its potential as a key growth driver, while the proposed restructuring aims to unlock values.
- Company is guiding for improvement in each segment including Sugar, IMIL and transmission in the upcoming year.
The Beat Ideas: Finolex Industries Ltd ~ Vertically Integrated PVC Manufacturer
- Finolex Industries (FNXP IN) is a leading, vertically integrated Indian PVC manufacturer, the 2nd largest in PVC resin and 3rd in pipes & fittings, with captive production offering cost advantage.
- Margin recovery in FY26 is targeted post headwinds faced by industry via pricing correction, improved product mix, enhanced discount management, and cost efficiency programs.
- Potential ADD/BIS mandates mid-FY26 may curb Chinese imports, possibly enabling a 5–10% domestic price increase, reshaping the market.
Vesuvius India Ltd (NSE: VESUVIUS) – A High-Quality Play on India’s Steel Upswing
- Vesuvius India has a strong track record of double-digit revenue and profit growth, supported by robust return ratios like 32% ROCE and a debt-free balance sheet.
- With ongoing capacity expansions and rising contribution to the parent’s revenue and EBITDA, India is now a key growth engine for the group.
- Despite premium valuations, the company’s execution strength and industry tailwinds make it a compelling long-term play.
Kobo Resources Inc – Mining Monthly: May Edition
- What you need to know: • The metals and mining market continued its strong run in May, driven by inflationary concerns due to the trade war and geopolitical tensions.
- • In May, gold was up 1.8%, silver was up 1.7%, and copper was also up 1.7%.
- The equities outperformed the commodities, with the GDX up 3.3%, GDXJ up 6.4%, SIL up 5.9%, and COPX up 8.7%.
2025 Sees Strong Start to Share Buybacks
- In the first five months of 2025, 63 primary-listed companies conducted S$930 million in share buybacks, up 84% from 2024.
- UOB led May buybacks with S$144 million, followed by DBS at S$18 million and Olam Group at S$6 million.
- STI Banks accounted for 77% of 2025 buybacks, with DBS, UOB, and OCBC launching significant buyback programs.
NATCO Pharma Limited: Record Year Performance Overshadowed by Cautious FY26 Outlook
- Natco Pharma (NTCPH IN) achieved record consolidated revenue and profits in FY25 and holds a strong cash position over INR 3,500 crore.
- However, the company estimates a significant potential dip in revenue (20%) and profits (30%) for FY26 due to US market pressures and high R&D spend.
- This signals near-term headwinds, while long-term growth remains tied to pipeline progress, particularly Semaglutide and Resplan launches in India, and strategic acquisitions.
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