MRF reported revenue growth of 32.7% yoy to Rs.2,875cr during 1QSY2012. The company’s EBITDA margin contracted by 226bp yoy to 9.0% from 11.2% in 1QSY2011 on account of increased raw-material cost on the back of higher rubber prices. The company reported net profit growth of 9.7% yoy to Rs.113cr in…
Robust top-line performance: Monnet Ispat’s (MIL) net sales grew strongly by 38.6% yoy to Rs.481cr during 3QFY2012. Growth was mainly driven by the 17.8% yoy increase in sponge iron realization to Rs.21,004/tonne. The company’s sponge iron sales volumes grew by 8.3% yoy to 160,521 tonnes, while power sales volumes declined…
For 3QFY2012, SBI’s standalone net profit increased by 15.4% yoy to Rs.3,263cr, which were above street estimates. Sequential expansion in both domestic (32bp) and foreign NIM (4bp) was the major positive from the result. However, the asset quality continued to disappoint with gross and net NPA levels increasing sequentially by…
For 3QFY2012, Jaiprakash Associates (JAL) reported in-line performance on the revenue front but better-than-expected numbers on the EBITDAM and PAT level. This outperformance was owing to high margin in construction segment (owing to last leg of payment for completion of Yamuna expressway) and higher other income (on account of dividend…
For 3QFY2012, CESC posted a 32.7% yoy decline in its net profit on account of customers being billed under the existing tariff, as WBERC’s new tariff approval for FY2012 is still pending (generally awarded in the second quarter). Although the current tariff provisions allow the hike in fuel costs to…
IVRCL reported a disappointing set of numbers for 3QFY2012, with lower-thanexpected performance on all fronts. However, order inflow for 9MFY2012 was commendable at Rs.10,700cr, given the current scenario. The company’s order book stands at Rs.25,000cr (4.4x FY2011 revenue, including L1 projects of Rs.3,000cr). During the quarter, IVRCL Assets and Holdings…
Stellar show at JLR drives overall performance: Tata Motors (TTMT) reported an extremely strong set of results, driven by stellar performance at JLR. The company’s top line grew by robust 44% yoy (25% qoq), led by 41.5% yoy (28.6% qoq) growth in JLR sales, which were driven by a 36.7%…
Coal India’s (CIL) 3QFY2012 top-line was below our expectations; however, bottom-line beat our estimates on account of lower-than-expected staff cost and higher-than-expected other income. We maintain our Neutral view on the stock. Higher realization aids net sales growth CIL’s 3QFY2012 net sales increased by 21.0% yoy to Rs.15,349cr (below our…
For 3QFY2012, SAIL’s sales volumes were below our estimates, while its PAT was higher-than-our expectations due to lower-than-expected raw material costs. We maintain our Neutral rating on the stock. Lower volumes affect 3QFY2012 net sales: During 3QFY2012, SAIL’s net sales decreased by 4.9% yoy to Rs.10,594cr (below our estimates of…
For 3QFY2012, Simplex Infra’s (Simplex) numbers came above our and street’s expectations on the revenue and earnings front and marginally lower at the EBITDAM level. At the end of the quarter, the company’s order book stood at Rs.14,442cr (2.9x FY2011 revenue). Order inflow for the quarter stood at Rs.1,018cr, with…
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