Daily BriefsIndia

India: Mphasis Ltd, Havells India and more

In today’s briefing:

  • Mphasis (HOLD): Direct business growth negates shortfall in DXC raise to HOLD
  • HSIE Results Daily: Hindustan Unilever, UltraTech Cement, Bajaj Auto, Havells India, ICICI Lombard

Mphasis (HOLD): Direct business growth negates shortfall in DXC raise to HOLD

By BOB Capital Markets Ltd.

MPHL grew 6.3% QoQ USD in Q1, outperforming our (4%) and street estimates. EBIT margin was a miss at 15.9% due to the pandemic impact

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HSIE Results Daily: Hindustan Unilever, UltraTech Cement, Bajaj Auto, Havells India, ICICI Lombard

By HDFC Securities

Havells India: Havells delivered a strong Q1FY22 performance despite the industry facing several challenges due to COVID-19. Revenue grew by 76% YoY (HSIE 68%), driven by strong performance across all segments, notably switchgears and ECD. While our channel checks suggested a ~15% revenue decline vs. Q1FY20, Havells, through its superior execution capabilities, managed to control the revenue decline to 4% (vs. Q1FY20), as against the 46% YoY dip registered in Q1FY21. With the second wave hitting India at the peak of summer season, Lloyd lost out on crucial sales; however, it posted slightly higher revenue than our expectation (24% down vs.

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.

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