In today’s briefing:
- Edelweiss: Strong Q2FY25 | Focus on Value Unlocking
- Nesco: Mixed Q2FY25, However Long-Term Prospects Remain Intact
Edelweiss: Strong Q2FY25 | Focus on Value Unlocking
- Edelweiss reported a strong Q2FY25 performance led by consistent scaling up of its businesses, especially the asset management businesses. Its insurance businesses are also growing rapidly but are loss-making currently.
- The credit businesses are also growing well with the shift to the co-lending model. 75%+ of lending in NBFC is now being done through the co-lending model.
- Edelweiss’ focus is on value unlocking and debt reduction. The asset management businesses are ripe for unlocking and Edelweiss is exploring a stake sale via IPO for its alternatives business.
Nesco: Mixed Q2FY25, However Long-Term Prospects Remain Intact
- Q2FY25 performance was mixed. IT Parks segment reported good growth at 2.5% QoQ and 8.5% YoY. BEC growth was mediocre at 8.5% YoY; QoQ is not comparable due to seasonality.
- Nesco Foods reported 10% YoY growth, which was decent but could have been better, given this business is relatively new and has significant potential. EBIT margin also declined YoY.
- Nesco is venturing into expressway wayside amenities development and management business, which appears synergistic and has potential to provide additional growth lever going forward.
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