In 4QFY19, Standalone Revenues grew by 8% YoY to INR 447mn. In FY19, Cotton volumes were down by 11% YoY to 6.21mn packets due to pink bollworm issues and illegal sale of HT cotton seed as well as delayed rainfall in some markets.
In 4QFY19, Zensar consolidated revenue grew by 2.1% QoQ to INR 10,574mn (CSEC estimate of INR 10,483mn). Revenues grew 4.5% QoQ to USD 150.1mn (+4.1% QoQ in CC terms) led by a 5.2% QoQ growth in core business.
LICHF’s loan book grew by 17% YoY to INR 1.95tn, largely led by LAP and project loans segments which grew at 40.7% YoY and 61.2% YoY respectively. LAP’s share in the overall portfolio has grown 290bps YoY to 17.2% and that of developer (project) loans by 185bps YoY to 6.8%.
In 4QFY19, Persistent Systems’ consolidated revenue declined by 3.7% QoQ to INR 8,319mn (below CSEC estimates of INR 8,635mn). Revenues from IP business declined 15.4% sequentially on account of seasonal weakness.
In 4QFY19, Orient Cement surprisingly beat our and consensus estimates on all fronts. The company posted a revenue growth of 21% YoY (32% QoQ) to INR 7.51bn spurred by an 11% YoY (8% QoQ) increase in realization to INR 4001/t.
In 4QFY19, Cyient’s revenue de-grew by 2.1% QoQ to INR 11,629mn (1.3% above CSEC estimates of INR 11,474mn) and in dollar terms, revenue was flat QoQ at USD 165mn. Services revenues grew by 1.4% QoQ in CC terms to USD 146.9mn.
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