Ceat - Operating Margins Impacted by Higher RM Costs
Ceat Ltd (CEAT)’s 2QFY25 performance was impacted by higher RM costs, leading to a 100bp contraction in operating margins QoQ, which stood at 11%...
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HDFC Bank - Steadily Moving Towards Improved Growth and Profitability
NIMs declined 1bp QoQ to 3.46%, while the C/D ratio declined sharply by ~4% QoQ to 99.8%. Provisions were 5% higher than MOFSLe at INR27b.
25 Views
ICICI Lombard - Combined Ratio Higher than Estimates by ~200bp
ICICIGI’s GDP grew 11% YoY in 2QFY25 to INR69b (3% miss). NEP grew 17% YoY to INR50b (3% ahead of our estimates). Claims ratio was largely in line...
24 Views
IndiaMART - Churn in Lower-Rung Accounts Persists
IndiaMART (INMART) reported 2QFY25 revenue growth of 18% YoY/5% QoQ, in line with our estimate of 18.8% YoY growth. Collection growth was soft at...
24 Views
Infosys - Guidance Upgrade a Dampener
Infosys (INFO) reported 2QFY25 revenue of USD4.9b, growth of 3.1% QoQ/3.3% YoY CC vs. our estimate of 3.0% QoQ CC. EBIT margins stood at 21.1% vs....
23 Views