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Companies for search string : Motilal Oswal

Motilal Oswal Financial Services Ltd. Motilal Oswa [BSE: 532892 || NSE: MOTILALOFSEQ]

Contributors For Search String : Motilal Oswal

Motilal Oswal

Reports for search string : Motilal Oswal

Gujarat State Petronet: Q1 EBITDA marginally above estimate; Neutral
During the quarter, the company's EBITDA of Rs2.8b (+15% YoY, +21% QoQ) was ahead of the estimate of Rs2.7b due to lower O&M expenses at Rs504/mscm (-69% YoY, -32% QoQ). PAT came in at Rs1.5b (in-line...
Motilal Oswal, 16 Aug 2017
JSW Energy Q1FY18: Weak demand and rising coal import prices hurting; Downgrade to Sell
JSW Energy's EBITDA declined 22% y-o-y to Rs8.7b (in-line) due to higher fuel cost and lower merchant sales. Other income grew 146% y-o-y to Rs1b, led by interest on loan/advance given to JPVL and JSP...
Motilal Oswal, 16 Aug 2017
CESC Q1FY18: Demerger to unlock value; Buy for 50% upside
The demerger into four separate businesses would drive value by unlocking the potential of the distribution and retail businesses. Distribution business valuation will get re-rated on reduced volatili...
Motilal Oswal, 16 Aug 2017
Indraprastha Gas Q1FY18: EBITDA above estimate; volume growth strong
IGL reported EBITDA of Rs2.8b (+8% YoY; +15% QoQ), ahead of the estimate of INR2.5b, led by lower gas cost. Led by strong focus on curbing pollution in the National Capital Region, CNG sales volume is...
Motilal Oswal, 16 Aug 2017
Alkem Laboratories: Weak 1Q due to GST impact, recovery expected in coming quarters; Neutral
Revenue declined 12.5% y-o-y to Rs12.9b (17% miss). Adjusted for accounting treatment of excise duty cost of Rs520m, gross margin remained flat. At current valuations, the stock provides limited room ...
Motilal Oswal, 16 Aug 2017
Oil India's Q1 EBITDA ahead of estimate led by lower opex; Buy
Oil India’s (OINL) revenues of Rs23.3b (+5% YoY, -7% QoQ) were in line with the estimate of INR23.2b. Reported EBITDA of INR8.7b (+1% YoY, +30% QoQ) was significantly above the estimate of Rs7.3b. Mai...
Motilal Oswal, 16 Aug 2017
United Breweries: Q1 results better than feared, margin pressures likely due to GST; Neutral
Despite the highway ban in 1QFY18, volumes were flat y-o-y, and importantly, UBBL expanded its market share by 150bp y-o-y. Quarterly sales growth was commendable, given that April sales were down in ...
Motilal Oswal, 16 Aug 2017
Sell GSK Consumer: Market share continues to decline; schemes impact gross margin
Structurally, competition in the child nutrition space from breakfast cereals, flavored oats, muesli and milk additives has affected category growth, which shows no signs of recovery. Volumes have rem...
Motilal Oswal, 15 Aug 2017
SAIL Q1FY18: Net debt will continue to rise eroding equity value; Maintain Sell
SAIL's reported EBITDA loss declined from INR2.6b in 4QFY17 to INR0.8b in 1QFY18. Net debt will continue to rise eroding equity value; Maintain Sell. SAIL can benefit from operating leverage over the ...
Motilal Oswal, 15 Aug 2017
TVS Motors Q1FY18: Overall volumes grew 12.2% y-o-y; Buy
Motilal Oswal have cut our EPS estimates for FY18 and FY19 by 12.1% and 8.7%, respectively, as we factor in RM inflation and higher tax rates. The stock trades at 37.2x/22.6x FY18E/FY19E EPS. We maint...
Motilal Oswal, 15 Aug 2017
Bank of Baroda Q1FY18: Stress additions remain elevated; provisions mar earnings
Bank of Baroda (BoB) reported PAT of INR2.0b v/s loss of INR989m in 4Q. Elevated NPL provisions (2.3% credit costs annualized) on account of continued stress additions weighed down on PPoP (-4%/-1% Qo...
Motilal Oswal, 15 Aug 2017
Cipla Q1FY18: Miss on revenue, PAT includes one-off; Neutral
Q1FY18 revenue declined 3% YoY to INR35.3b (~15% miss). Gross margin came in at 65.7% (+ >400bp YoY; +340bp QoQ). Current quarter gross margin includes ~150bp of one-off benefit, which is not expected...
Motilal Oswal, 15 Aug 2017
Buy Cadila Healthcare: Weak Q1FY18, but expect strong recovery going forward
The company's Q1FY18 net revenue declined ~4% YoY to Rs21.9b (~17% miss). Weak revenue can be ascribed to a decline of ~19% YoY in India business and ~9% in EM business. However, Motilal Oswal increas...
Motilal Oswal, 15 Aug 2017
Hindalco Q1FY18: 40% upside; Reiterate buy
Hindalco’s standalone (S/A) 1QFY18 EBITDA grew 1% YoY to INR11.5b, lower than the estimate of INR12b. Inventory accumulation and lower revenue from copper byproducts account for the 5% miss. Valuation...
Motilal Oswal, 15 Aug 2017
Bosch Q1FY18: Results below estimates, high import content impact EBITDA; Neutral
Motilal Oswal are downgrading EPS by 16%/8% for FY18/FY19E on the back of lower revenue and margins. The stock trades at 41.3x/32.1x FY18/19E EPS. Maintain Neutral
Motilal Oswal, 15 Aug 2017
BPCL's product inventory loss drags EBITDA in Q1FY18; Neutral
BPCL’s reported EBITDA of INR12b (-70% YoY, -45% QoQ) was lower than the estimate of INR19b due to product inventory loss of INR7.3b during the quarter. EBITDA adjusted for product inventory loss stoo...
Motilal Oswal, 15 Aug 2017
Sun Pharma Q1FY18: Weak quarter; Maintain buy with reduced target price
During the quarter, revenue fell significantly by 25% YoY to INR62.1b. Motilal Oswal expect the stock to remain under pressure in near term due to challenges related to growth and margins. Maintain Bu...
Motilal Oswal, 15 Aug 2017
SBI's PAT increases 5.4x y-o-y to Rs20 bn in Q1FY18; Buy
Motilal Oswal like SBIN for its better visibility over core operating profitability (among PSBs), strong liability franchise (CASA ratio: 44.4%) and healthy coverage ratio. Slippage ratio is expected ...
Motilal Oswal, 15 Aug 2017
Kaveri Seed benefits from better cotton acreages in Q1FY18; Buy
KSCL benefited from better cotton acreages, leading to a significant rise in cotton seed volumes. Going forward, we believe product diversification and geographical expansion would lead to reduced dep...
Motilal Oswal, 10 Aug 2017
Buy SRF: Revenue exceeds estimate; PAT in-line in Q1FY18
SRF reported overall revenue of Rs13.88b (est. of Rs11.46b) in 1QFY18 v/s Rs12.9b in 1QFY17. SRF continues to invest in R&D/capacity expansion, keeping itself ready for demand revival. Buy.
Motilal Oswal, 10 Aug 2017
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