External broker reports(aggregated public sources), Sharekhan

Sharekhan

External broker reports(aggregated public sources)

Sharekhan is India's leading broking house providing services from easy online trading, research to wide array of financial products. 

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

Godrej Consumer Products / Equity Bottom-Up

Godrej Consumer Products Limited manufactures personal care, hair care, household care and fabric care products. The Company's products include toilet soaps, cosmetics, shaving creams, talcum powder, household cleaners and fabric detergents.

<ul><li>Sharekhan's research report onGodrej Consumer Products GCPL’s Q4FY2024 numbers were above our as well as street expectations due to better-than-expected OPM of 22.5%, leading to adjusted PAT growth of 22%; it achieved industry-leading organic volume growth of 9% (India business 7%).</li><li>GCPL met its target of high single-digit underlying volume growth and high-teen EBITDA growth for FY2024.</li><li>Management targets to achieve high single-digit volume growth for consolidated business with India and Indonesia business volumes growing in high single digits in the coming years.</li></ul>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.

Sharekhan's research report onGodrej Consumer Products GCPL’s Q4FY2024 numbers were above our as well as street expectations due to better-than-expected OPM of 22.5%, leading to adjusted PAT growth of 22%; it achieved industry-leading organic volume growth of 9% (India business 7%).GCPL met its target of high single-digit underlying volume growth and high-teen EBITDA growth for FY2024.Management targets to achieve high single-digit volume growth for consolidated business with India and Indonesia business volumes growing in high single digits in the coming years.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.

Godrej Consumer Products Ltd - Q4 - Leading Volume Growth

Federal Bank Limited operates branches and regional offices throughout India. The Bank offers a wide range of financial services, including merchant banking, international banking and foreign exchange, leasing facilities, money markets and agricultural advances. The Bank also provides lending for hi-tech agricultural and government sponsored schemes.

<ul><li>Sharekhan's research report onFederal Bank Federal Bank’s net interest income (NII) grew by 15% y-o-y/3% q-o-q led by healthy net advances growth and better NIMs outcome.</li><li>Net interest margin (NIMs) improved by 2 bps q-o-q to 3.21%.</li><li>Yields improved by 11 bps q-o-q offsetting 17 bps q-o-q increase in cost of funds.</li></ul>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.

Sharekhan's research report onFederal Bank Federal Bank’s net interest income (NII) grew by 15% y-o-y/3% q-o-q led by healthy net advances growth and better NIMs outcome.Net interest margin (NIMs) improved by 2 bps q-o-q to 3.21%.Yields improved by 11 bps q-o-q offsetting 17 bps q-o-q increase in cost of funds.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.

Federal Bank Ltd - Q4 a Mixed Bag, Succession in Progress

Ultra Tech Cement Ltd. produces a wide range of cement products. This Company represents the cement operations of Larsen & Toubro which were spun-off into a separate entity in which Grasim Industries holds a majority interest.

<ul><li>Sharekhan's research report onUltraTech Cement The company reported strong standalone operational beat for Q4FY2024, aided by higher than expected volume growth and lower opex per tonne.</li><li>It is poised to outpace industry demand growth rates during FY2025 while opex cost curve is expected to tread lower over the next three years.</li><li>Capacity expansion plans remain on track to achieve almost 200 mtpa global capacities by FY2027 end.</li></ul>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.

Sharekhan's research report onUltraTech Cement The company reported strong standalone operational beat for Q4FY2024, aided by higher than expected volume growth and lower opex per tonne.It is poised to outpace industry demand growth rates during FY2025 while opex cost curve is expected to tread lower over the next three years.Capacity expansion plans remain on track to achieve almost 200 mtpa global capacities by FY2027 end.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.

UltraTech Cement Ltd - Strong Q4; Focus Stays on Profitable Growth

L&T Finance Holdings Limited is a financial holding company. The Company offers a diverse range of financial products and services across the corporate, retail, and infrastructure finance sectors, as well as fund products and investment services.

<ul><li>Sharekhan's research report on L&amp;T Finance Holdings LTFH’s earnings were significantly below estimates, led by higher provisions/higher opex in Q4FY2024, but retail business growth was solid.</li><li>Higher provisions were on account of the wholesale business (mainly due to run down of security receipts).</li><li>The company does not expect further higher provisioning.</li></ul>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.

Sharekhan's research report on L&amp;T Finance Holdings LTFH’s earnings were significantly below estimates, led by higher provisions/higher opex in Q4FY2024, but retail business growth was solid.Higher provisions were on account of the wholesale business (mainly due to run down of security receipts).The company does not expect further higher provisioning.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.

L&T Finance Holdings Ltd - Mixed Q4, Looking at Balance Outcome

Mastek Limited provides software solutions and integration services for the financial services, insurance, manufacturing, telecom and retail sectors.

<ul><li>Sharekhan's research report onMastek Mastek’s reported revenue stood at $93.7 million, down 1.4% q-o-q/up 6% y-o-y in constant currency (CC) terms, which was lower than our estimate of $96.3 million on account of three specific client situations.</li><li>EBITDA margin fell 98bps q-o-q to 16%, missing our estimates of 17.3%, largely on account of the specific impacts on revenue.</li><li>The company registered its highest-ever 12-month order backlog, which stood at Rs.</li></ul>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.

Sharekhan's research report onMastek Mastek’s reported revenue stood at $93.7 million, down 1.4% q-o-q/up 6% y-o-y in constant currency (CC) terms, which was lower than our estimate of $96.3 million on account of three specific client situations.EBITDA margin fell 98bps q-o-q to 16%, missing our estimates of 17.3%, largely on account of the specific impacts on revenue.The company registered its highest-ever 12-month order backlog, which stood at Rs.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.

Mastek Ltd - Muted Quarter; Confident Commentary

Sharekhan
External broker reports(aggregated public sources)
• Sharekhan

Godrej Consumer Products Ltd - Q4 - Leading Volume Growth

Management targets to achieve high single-digit volume growth for consolidated business with India and Indonesia business volumes growing in high...

Sharekhan

Federal Bank Ltd - Q4 a Mixed Bag, Succession in Progress

Sharekhan's research report onFederal Bank Federal Bank’s net interest income (NII) grew by 15% y-o-y/3% q-o-q led by healthy net advances growth...

Sharekhan

UltraTech Cement Ltd - Strong Q4; Focus Stays on Profitable Growth

Sharekhan's research report onUltraTech Cement The company reported strong standalone operational beat for Q4FY2024, aided by higher than expected...

Sharekhan

L&T Finance Holdings Ltd - Mixed Q4, Looking at Balance Outcome

Sharekhan's research report on L&T Finance Holdings LTFH’s earnings were significantly below estimates, led by higher provisions/higher opex in...

Sharekhan

Mastek Ltd - Muted Quarter; Confident Commentary

EBITDA margin fell 98bps q-o-q to 16%, missing our estimates of 17.3%, largely on account of the specific impacts on revenue.

Sharekhan