In today’s briefing:
- Adani Enterprises: NMIAL Commissioning Triggers Structural Rerating; Airports Drive Duration
- The Beat Ideas: Raymond’s Engineering Rebirth- The Aerospace & Defence Leap?
Adani Enterprises: NMIAL Commissioning Triggers Structural Rerating; Airports Drive Duration
- NMIAL commissioning in Dec-25 shifts AEL from trading volatility to regulated airport earnings, supporting a structural rerating through FY27.
- EBITDA mix moves toward airports and renewables (>70%); IRM shrinks to a residual contributor.
- Fair value ₹2,750–3,000 (execution ₹3,300+), driven by utilisation, non-aero monetisation, and capital-structure transparency.
The Beat Ideas: Raymond’s Engineering Rebirth- The Aerospace & Defence Leap?
- The latest results reveal strong double-digit growth in the newly separated Engineering business, confirming the strategic shift toward high-precision manufacturing in Aerospace & Defence and Auto Components.
- Successful completion and initial performance validation of the demerger process transforms Raymond into two pure-play, specialized manufacturing entities poised to capitalize on global “China + 1” and Indian aerospace tailwinds.
- The structural re-rating thesis remains firmly intact, driven by accelerating margins in the Aerospace vertical and long-term contract visibility.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
