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Dr. Reddys Lab’s (DRL) revenue, increased by 13.6% YoY to Rs40.2 bn, is higher than our estimates of Rs 38.9bn; primarily due to good growth in Europe and Emerging market business. EBITDA margins grew to21.2% inline with our estimates of 21.0% on account of lower SGA and R & D expenses.
May 20, 2019, 1 p.m.

Despite top line growth of 16%, margins were impacted on account of higher operating costs and increasing competition.
May 20, 2019, 12:59 p.m.

During Q1CY19 MHCIE reported mixed bag numbers. Going forward Management expects its Indian operations to remain steady during H1CY19 and international operations to be robust.
May 8, 2019, 11:29 a.m.

At $150.1 Mn, Zensar (ZENT) reported a strong growth in revenue – 4.5% QoQ and 18.5% YoY. In constant currency terms (CC), it reported a sequential growth of 4.1% and 21.5% over previous year.
May 7, 2019, 11:13 a.m.


SRL recorded a 55% YoY increase in pre-sales to Rs. 2.9 Bn and collections surged 34% YoY to Rs. 2.06 Bn.
May 7, 2019, 11:13 a.m.

Greaves Cotton (Greaves) Q4 and FY19 estimates were in line with our estimates. Q4 adjusted earnings dropped by 4.2% YoY to Rs. 1.89 on the back of higher commodity prices, gross margin dropped by 150 bps YoY.
May 6, 2019, 11:37 a.m.

Indian Auto Companies released Apr’19 Monthly sales volumes. For most of OEM’s, overall sales either remain flat or declined.
May 3, 2019, 11:25 a.m.

Carborundum Universal (CUMI) Q4 and FY19 earnings were in-line with our estimates. Q4 earnings dropped by 6% YoY to Rs. 3.27 due to lower demand which was unusual for a year end quarter (low than Q3 volumes).
May 2, 2019, 11:10 a.m.

We believe revenue to grow at a CAGR of 8.7% over the period of FY19-FY21E. We expect execution of pushed out deals and investments made in developing new technology solutions to contribute significantly to the revenue growth in the coming years.
May 1, 2019, 11:05 a.m.

During Q4FY19, TVS sales increased by 9.4% YoY to Rs43.8bn (above our estimates Rs41.6 bn). Its EBITDA margins declined by 34bps to 7% (our estimates were 7.6%).
May 1, 2019, 11:04 a.m.