We hosted JB’s CEO, Nikhil Chopra, for a roadshow in the UK. The company remains optimistic on its growth prospects across India, CMO, Russia and South Africa. With the current management team keen on running the business, the company does not expect any change in its business plan even if there is any ownership change.
We like Stylam for its industry-leading growth (~2x vs industry) and EBITDA margin (~20%), healthy balance sheet (net cash), and impressive return ratio (ROE ~25%). We have modelled 17/22/20/20% volume/revenue/EBITDA/APAT CAGRs for FY24-27E. We expect strong laminate volume growth for the company in FY26/27 on the back of a pick-up in demand and ramp-up of sales from ongoing brownfield expansion
Piramal Pharma Limited (PPL) is part of the Piramal group of companies. The company operates in 3 major segments. – 1) Contract development and manufacturing organisations (CDMO), 2) Complex hospital generics (critical care), 3) Consumer healthcare (OTC).
Oil India Limited (OIL) remains a key player as a leading integrated company across the energy value chain in India. The company is on track to meet its ambitious target of 4mmt of oil and 5bcm of gas production by FY26, backed by accelerated drilling activities in its rich Baghjan field, which will see the number of wells increase from 61 to ~80 in FY25 and 100 by FY27
This presentation provides an in-depth analysis of the evolving global Electric Vehicle (EV) ecosystem, with a special emphasis on India’s emerging role. We are pleased to present an overview of the global EV landscape, with a particular focus on key policy interventions in major economies and India
We initiate on Trent, Tata Group’s fashion & lifestyle business, with a Buy and an SOTP-based TP of Rs9,250. Its transformation from a single-format (Westside) to a multi-format (Westside, Zudio, Star, Samoh, Utsa, Misbu, etc.) and multi-category (fashion & lifestyle, grocery, beauty personal care & fashion accessories) player led to a higher revenue CAGR (36% in FY19-24) vs. India’s leading consumer discretionary and retail peers
Skipper is India’s largest and the world’s only integrated Transmission & Distribution (T&D) company present across the entire transmission chain
We are initiating coverage on Arvind Smartspaces Ltd. (ARVSMART) with a BUY recommendation and a target price of Rs 1,085/share, which implies an upside of 43% from the CMP. Arvind Smartspaces began operations in 1897 when Lalbhai Dalpatbhai established the company’s first textile mill. Over the years, the business portfolio expanded to include textiles, dyes, chemicals, real estate, and engineering ventures, which were later demerged in 2016. Today, Arvind Smartspaces is one of the fastest growing real estate companies, holding a dominant market share in Ahmedabad and Bangalore
Lumax Auto Technologies (LAT), is a leading auto ancillary player with diversified portfolio serving both OEMs and aftermarket.
PSYS is capitalizing on increased opportunities arising from fatigue among larger firms, positioning itself to fill the gaps and capture additional market share.
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