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Contributors For Search String : GST

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Reports for search string : GST

India Strategy & Top Ideas for November 2017
1HFY18 earnings tad below expectations: While there may be many reasons for the lower earnings, the disruptions on GST implementations have impacted 2QFY18 earnings The industry is yet to fully recove...
Prabhudas Lilladher, 17 Nov 2017
Mold-tek Packaging Q2FY18: Good results in spite of GST overhang; Buy
Mold Tek packaging reported good Q2 numbers ahead of expectations. In spite of the GST overhang, numbers were good. Revenues remained flat YoY at Rs 770m (up 1%).
Prabhudas Lilladher, 17 Nov 2017
Cadila Healthcare Q2FY18 : US, India traction lead Q2 beat; Sustainability to drive valuation
CDH trades at PER of 18.3x (FY18E) and 19x (FY19E) with growth traction from launches of exclusive products. India sales growth post GST‐led destocking is recovering faster than industry average...
Prabhudas Lilladher, 17 Nov 2017
Bank of Baroda Q2FY18:Asset quality issues continue, but PCR improves; Accumulate
BOB’s operational performance improved from both better income growth and controlled opex leading to core PPOP growth of 19% YoY. Loan growth was much better at ~9% YoY but has been on lower base and ...
Prabhudas Lilladher, 17 Nov 2017
CEAT Q2FY18: Strong Sequential Improvement; Accumulate
While higher priced raw material inventory and pre-GST destocking across channels had hit CEAT’s Q1FY18 performance significantly, with correction in raw material prices, CEAT has reported a 770bps Qo...
Prabhudas Lilladher, 16 Nov 2017
West Coast Paper Mills: Margin Improvement with better product mix; Buy for a 16% upside in 15 months
During Q2FY18 EBITDA margins increased by 190 bps y-o-y on account of steep fall in raw material prices. Materials as a percentage of sales declined by 360 bps to 55.7%. Going forward we expect EBIDTA...
SKP Research, 16 Nov 2017
Genus Power Infrastructure: Buy for a target implying an upside of 32%
With Governments’ thrust on revamping financial health of Discoms, coupled with rapid urbanization & industrialization, replacement of conventional meters with electronic meters, leadership position a...
SKP Research, 16 Nov 2017
Carborundum Universal posts strong growth in Q2FY18; Buy for an upside of 30%
The company is currently trading at 38.06x of TTM eps of Rs 9.72. Looking at increase in production capabilities, decent financials & strong industry outlook, we recommend “Buy” on the stock with for...
Hem Securities, 16 Nov 2017
Nestle India Q3CY17: Profit beat led by margin expansion; Reduce
NEST’s Q3CY17 profits were ahead of estimates led by 210bps margin expansion even as comparable sales grew 9.1% (7.3% excluding excise and 3.6% on reported basis) were in line.
Prabhudas Lilladher, 15 Nov 2017
Torrent Pharma Q2FY18: Expanding domestic footprint with Unichem acquisition - Upgrade to ADD
Torrent Pharmaceutical Limited‟s (TRP) 2QFY18 results were slightly below EE owing to a topline miss due to one-offs in Brazil. However, a strong rebound in the domestic market came as a positiv...
Equirus Securities, 14 Nov 2017
Century Plyboards Q2FY18: Plywood demand to see gradual recovery; maintain Long
CPBI posted plywood volume/revenue declines of 2%/12% due to slower-than-expected restocking at the dealer level. Laminate volumes grew 10% yoy and revenues 18% yoy.
Equirus Securities, 14 Nov 2017
Nestle Q2FY18: Strong Operational Performance; Valuations Cap Upside
Rolling over our estimates to CY19E, we expect Nestle to post net revenues of Rs114.6bn/ Rs130.6bn and net profit of Rs15.4bn/Rs18bn in CY18E and CY19E, respectively.
Reliance Securities, 14 Nov 2017
Cera Sanitaryware: Demand recovery from Q4FY18 to drive growth; maintain ADD
Cera Sanitaryware’s (CRS) 2QFY18 sales were 10% above EE (+18% yoy) while EBITDA was in line (+8% yoy) with EBITDA margins coming in at 15.6%, 145bps lower yoy on higher outsourcing and other expenses...
Equirus Securities, 14 Nov 2017
Gujarat Gas Q2FY18: Volumes in line but margins disappoint on one-offs - downgrade to REDUCE
Gujarat Gas (GGAS) posted an 11% yoy growth in its 2Q volumes to 5.7mmscmd led by growth across segments. A significant miss in the EBITDA was due to flood donations, lack of input tax credit, and an ...
Equirus Securities, 14 Nov 2017
KEC International Q2FY18: Healthy EBITDA margin and PAT expansion - remain LONG
Healthy EBITDA margin and PAT expansion more than offset a minor GST transition- related impact on KEC International’s (KECI) quarterly execution. Order inflows for 2QFY18 remained healthy at Rs 30bn,...
Equirus Securities, 14 Nov 2017
Greaves Cotton Q2FY18: Changing industry dynamics to shake up key business verticals - maintain REDUCE
Due to growth uncertainties in the two large verticals which contribute ~50% of GRV’s sales, a multiple contraction is possible. We therefore cut our target TTM multiple from 18x to 16x and maintain R...
Equirus Securities, 13 Nov 2017
Inox Wind Q2FY18: Order Inflow Traction to Improve 4QFY18 Onwards; Maintain BUY
Looking ahead, though we expect the slowdown to persist in 2HFY18 as well, we envisage normalisation to begin from 4QFY18E onwards, while the execution is expected to pick-up pace from 1QFY19E onwards...
Reliance Securities, 13 Nov 2017
Shree Cement Q2FY18: Healthy Operational Performance Persists Despite Cost Pressure; BUY
Looking ahead, though we expect the slowdown to persist in 2HFY18 as well, we envisage normalisation to begin from 4QFY18E onwards, while the execution is expected to pick-up pace from 1QFY19E onwards...
Reliance Securities, 13 Nov 2017
Pidilite Industries Q2FY18: Impressive Quarter on Strong Double Digit Volume Growth; Buy
We expect GST to provide significant advantage to large organised players like Pidilite and accelerate the process of formalisation of the economy. We expect the Company to report consolidated revenue...
Reliance Securities, 13 Nov 2017
ITC: Fate of the business is contingent on regulations governing the cigarettes business; Neutral
In view of the muted earnings growth prospects over the near-to-medium term, we maintain our Neutral rating on the stock.
Motilal Oswal, 13 Nov 2017
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