External broker reports(aggregated public sources), Emkay Global Financial Services Limited

Emkay

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External broker reports(aggregated public sources)

Emkay Global Financial Services Limited

Emkay Global Financial Services Ltd. is a leader in the financial services sector, actively creating wealth for our clients for over two decades. 

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>HPCL reported better than expected Q3FY25 earnings with EBITDA/PAT of Rs64.5/30.2bn, a 10%/19% beat, driven by better-than-expected GRMs and marketing volumes.</li><li>Reported GRM was USD6/bbl (vs USD5/bbl est), while core was even better at USD6.9. Blended marketing margin at Rs7.6/kg was a 5% miss but offset by 3% lower opex.</li><li>Domestic marketing volumes rose 8.5% vs 4.5% of industry, while petrol/diesel grew 9.2%/4.9%, in line with industry but better than PSUs.</li></ul><p><em>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.</em></p>

HPCL reported better than expected Q3FY25 earnings with EBITDA/PAT of Rs64.5/30.2bn, a 10%/19% beat, driven by better-than-expected GRMs and marketing volumes.Reported GRM was USD6/bbl (vs USD5/bbl est), while core was even better at USD6.9. Blended marketing margin at Rs7.6/kg was a 5% miss but offset by 3% lower opex.Domestic marketing volumes rose 8.5% vs 4.5% of industry, while petrol/diesel grew 9.2%/4.9%, in line with industry but better than PSUs.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.

HPCL -Better Refining Drives Profitability Beat; Outlook Steady

Hindustan Petroleum

HPCL -Better Refining Drives Profitability Beat; Outlook Steady