External broker reports(aggregated public sources), Topline Securities

Topline Securities

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>INDU announced its 1QFY26 result, wherein the company recorded profit of Rs6.7bn (EPS of Rs85.49), up 32% YoY and 4% QoQ.</li><li>The company reported gross margins of 17.1% in 1QFY26 (vs. our expectation of 15%), as compared to 13.4% in 1QFY25 and 13.3% in 4QFY25.</li><li>Alongside the results, the company announced a dividend of Rs51/share in 1QFY26 (Payout ratio: 60%).</li></ul>

INDU announced its 1QFY26 result, wherein the company recorded profit of Rs6.7bn (EPS of Rs85.49), up 32% YoY and 4% QoQ.The company reported gross margins of 17.1% in 1QFY26 (vs. our expectation of 15%), as compared to 13.4% in 1QFY25 and 13.3% in 4QFY25.Alongside the results, the company announced a dividend of Rs51/share in 1QFY26 (Payout ratio: 60%).

Indus Motor (INDU): 1QFY26 EPS At Rs85.49, Up 32% YoY And 4% QoQ - Higher Than Industry Expectations

Indus Motor Company

Indus Motor (INDU): 1QFY26 EPS At Rs85.49, Up 32% YoY And 4% QoQ - Higher Than Industry Expectations