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Contributors For Search String : Prabhudas Lilladher

Prabhudas Lilladher

Reports for search string : Prabhudas Lilladher

Bank of India Q2FY18: Bank of India; Reduce
BOI’s 2QFY18 performance were better than expectations on lower slippages, but the operational side continues to disappoint with lack of improvement in business mainly on lack of capital.
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
Sonata Software Q2FY18:Strong Growth, Reasonable Valuations; Upside 20.8%
Sonata Software delivered a strong set of results in 2QFY18 with IT services USD revenues, consolidated EBIDTA and PAT ahead of our estimates. IT services USD revenues came at USD36.4mn up 11.3% QoQ a...
Prabhudas Lilladher, 17 Nov 2017
GAIL (India) Q2FY18:Strong core operating performance; Upside 17.1%
We upgrade our estimates by 4%/3% for FY18/19E to factor in lower operating costs. We expect GAIL to benefit from full utilisation of petrochemicals capacity as also from increased gas utilisation in ...
Prabhudas Lilladher, 17 Nov 2017
Bharat Petroleum Corporation Q2FY18: Healthy operating performance; Buy
We maintain our estimates for FY18/19E. Reiterate ‘BUY’ with a PT of Rs553 (unchanged) based on 12x FY19E. We also add the investments at 25% discount to market and add the value of E&P.
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
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
Kalpataru Power Transmission Q2FY18: Expecting a strong year ahead; Accumulate
The stock is trading at 14x core FY19EPS. We believe the strong outlook in domestic T&D market and increasing presence in high growth areas like Railways should help the company deliver 21% earnings C...
Prabhudas Lilladher, 16 Nov 2017
Sadbhav Engineering Q2FY18: Driving in the right lane; Buy
We expect company to deliver 25% earning CAGR over FY16-19E. We have increased our earnings by ~3% for FY18/19 to factor in lower tax rate. We continue to rate the stock a “BUY” With revised TP of Rs3...
Prabhudas Lilladher, 16 Nov 2017
Eicher Motors Q2FY18: Continues to ride high;  Accumulate
Eicher Motors’ (EIM) Q2FY18 performance marginally missed our estimates, wherein revenue growth was at 23.5% YoY to Rs21.7bn (PLe: Rs22.1bn), and the EBITDA margin came in at 31.5% (PLe: 31.9%).
Prabhudas Lilladher, 16 Nov 2017
Sun Pharmaceutical Industries Q2FY18 in line; Recall of ANDAs could be precursor to resolution; Reduce
Sun pharma retains its guidance of single-digit decline in sales with 20-22% EBITDA margin. While SUNP had 20% effective tax rate in Q1FY18 and guided for higher tax rate in FY18E, they expects there ...
Prabhudas Lilladher, 16 Nov 2017
Manpasand Beverages Q2FY18: Growth plans on track; BUY
We expect Fruits up to drive growth as new units will have 40% capacity for fruits Up. We estimate 38% PAT CAGR over FY17-20 and value the stock at 30xMarch20 EPS. Buy with 18-month target price of Rs...
Prabhudas Lilladher, 16 Nov 2017
Britannia Industries Q2FY18: Good days ahead: BUY
We increase P/E multiple to 40x (37 earlier) given strong growth outlook and visibility and arrive at 18 month SOTP based target price of Rs5226 (Rs 4,653 earlier). We retain BRIT as high conviction B...
Prabhudas Lilladher, 16 Nov 2017
J.Kumar Infraprojects Q2FY18: Expecting execution to pick up H2
The stock is trading at 10.9x FY19E earnings. We believe that a well-funded balance sheet and strong track record will help JKIL to capitalise on huge opportunity in urban infrastructure over the next...
Prabhudas Lilladher, 16 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
Maharashtra Seamless Q2FY18: Buy for an upside of 41%
Maharashtra Seamless (MSL) reported Q2FY18 numbers. Net revenue recorded growth of 58.7% YoY and 7.5% QoQ at Rs 4,840m. EBITDA remained flat at Rs 600m but margins contracted by 708bps YoY and 110bps ...
Prabhudas Lilladher, 15 Nov 2017
Pidilite Industries Q2FY18: Early signs of recovery, margins a risk, Accumulate
Long term outlook seems intact as PIDI continues to invest in distribution expansion in small towns and product innovations in adhesives, sealants and more importantly construction chemicals.
Prabhudas Lilladher, 15 Nov 2017
Voltas Q2FY18: Building on strengths; Accumulate
Voltas has adopted a cautious approach towards risk mitigated order booking looking at the political instability in Qatar. In the domestic market, government’s focus on stepping up infrastructure and ...
Prabhudas Lilladher, 15 Nov 2017
Aurobindo Pharma Q2FY18: Delivering benefits on first wave of complex drug approvals; Buy
ARBP trades at attractive valuation among the pharma large-cap with strong upside potentials. ARBP trades at 17.1x and 15.2x FY18E and FY19E. We maintain ‘Buy’ and retain TP at Rs 877.
Prabhudas Lilladher, 15 Nov 2017
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