Tag: Earnings

26 Apr

Axis Bank Q4FY19 Results Update

Axis Bank Q4FY19 Results Update: Robust domestic loan growth coupled with operational efficiencies drive bottom-line growth  Key Financial Highlights Axis Bank’s Net interest income (NII) grew by 21% YoY to INR 5706 cr, driven by ~18% YoY growth in domestic loans and advances. Overall loans and advances grew by 13% YoY for the quarter NIMs […]

26 Apr

Biocon Q4FY19 Good show

Biocon’s Q4FY19 numbers were broadly in line with expectations. 30%+ top line growth, 600+ bps EBITDA margin expansion (to 26%, unknown fx/other items possible), Adj. PAT growth of 64% YoY driven by 73% YoY EBITDA growth. For FY19, Sales/EBITDA/Adj. PAT increased by 36%/64%/99%.  The company continues to report strong growth primarily driven by the biologics […]

25 Apr

Ultratech Cement- Q4FY19 result Analysis

Ultratech Cement- Q4FY19 result Analysis:- A strong beat on all counts (CMP: INR 4,432, Mcap: INR 1,22,000 cr) Standalone Financial Performance analysis (Q4FY19): Revenue grew by 17% YoY and 19% QoQ to INR 10,500 cr on back healthy growth in cement sales volumes across regions and also marginal improvement in realisation. EBITDA grew by 30% […]

23 Apr

AU Small Finance Bank (AU) registered healthy growth

 AU Small Finance Bank (AU) registered healthy growth in PAT aided by robust growth in AUM and higher operating efficiencies  Key Financial Highlights AU’s Net Interest Income (NII) grew by 35% YoY to INR 387 cr on back of 51% growth in AUM. NII grew at slower pace due to contraction in net interest margin […]

18 Apr

RBL Bank Q4FY19 update: Stellar performance continues

RBL Bank Q4FY19 update: Stellar performance continues  Key Financial Highlights Net interest income (NII) grew 48% on back of strong growth in loans & advances and marginal improvement in net interest margin (NIM) (up 25 bps to 4.23%) Loan & advances grew by 35% YoY to INR 543bn, primarily driven by non-wholesale loans Net revenue […]

16 Apr

Reliance Industries (RIL IN, INR 1,343, Buy)

Reliance Industries (RIL IN, INR 1,343, Buy) We are revising up Reliance Industries’ (RIL) target price by 14% to INR1,636 as: (1) we envisage it to be significant beneficiary of higher distillate cracks with one of the highest distillate yields in the country. We revise up FY21E gross refining margin (GRM) from USD 13.1/bbl to […]

BFSI – Q4FY19 result preview – Liquidity woes to weigh on performance; Banks better off

The sector is still not out of the woods. Tight liquidity, risk aversion and financiers’ growth moderation are likely to take a toll on Q4FY19 earnings. However, it’s not all that grim either as: a) improving system-wide liquidity & 30-40bps fall in wholesale borrowing cost will boost NBFCs’ core performance; b) though disbursement growth for […]

Earning Scorecard Q3FY19

Nifty Earnings: Nifty top-line grew by 23% Y-o-Y in Q3 while bottom-line grew by 5% Y-o-Y. Financials were the major drivers of earnings growth led by banks. However, NBFCs continued to see weakness in growth. Oil Marketing Companies (OMCs) were the main draggers of headline profitability on the back of lower refining margins and inventory losses. […]