Hyundai Motors India (HMIL), is a part of South Korea based the “Hyundai Motor Group”, which is the third largest passenger vehicle (PV-OEM) manufacturer globally as of CY23. HMIL has for long been the second largest auto OEM in the domestic passenger vehicle market in terms of sales volumes
JTL Industries Ltd (JTL), a prominent player in the structural steel tubes and pipes sector, has ascended as the fastest-growing company propelled by robust sectoral dynamics, augmented production capacities, and a strong offtake facilitated by an extensive network of distributors, dealers, and clients (both within the nation and overseas). Further, its strategic decision to prioritize the value-added product segments and to set up facilities near raw material suppliers(in conjunction with backward integrated plants) has proven to be effective, yielding an industry-leading EBITDA/ton
TRIL beat our Q2FY25E by a mile powered by strong execution (+80% YoY), lifting OPM to ~15%. New OI grew ~3x YoY to INR10bn, jacking up backlog to INR35bn (executable over 15–18 months) even as tender pipeline is strong at INR170bn+ (20% strike rate). Management maintained FY25E revenue guidance of INR20bn with EBITDA margin of 14%-plus, expanding to INR45bn and 17%, respectively, by FY27E
Skipper is ready to harness several tailwinds: i) power T&D capex of INR9.2tn over 2022–32; ii) improving product mix with a shift to margin-accretive HV segment; iii) doubling of capacity in four–five years; iv) a well-capitalised balance sheet with FY24 D/E at 0.49x (exhibit 32); and v) OPM improving from 9.7% in FY24 to 10.5% by FY27E (guidance of 11% for three years).
Jubilant Pharmova (JPL) is undergoing a turnaround and adding new growth drivers, which provides long-term growth and earnings visibility. We argue JPL can expand its revenue/EBITDA at a CAGR of 11%/24% through: i) Ruby-Fill ramp-up; ii) turnaround of Radiopharmacy and generics business; iii) commissioning of Line-3 at Spokane; and iv) CRO growth. The real booster shot would be balance sheet improvement, lifting PAT 4x over FY24–27E
33%, and 41% revenue, EBITDA, and PAT CAGR, respectively, over FY24-27. This growth will be driven by the benefits of formalisation, accelerated store expansion, its value-for-money offerings, and the easy availability of capital at competitive interest rates. We view TJL as the D-Mart of Tamil Nadu’s jewellery retail sector, applying principles of “high inventory turns and reasonable margins,” in contrast to other listed jewellery players who focus on “high operating margins and low inventory turns” to generate respectable return ratios.
Aeroflex Industries Limited (AERIND), incorporated in 1993, is engaged in the business of manufacturing and supply of metallic flexible flow solutions made with stainless steel
V2 Retail (VREL) posted a 64% YoY growth in revenue to INR380cr on the back of a strong SSSG of 36% and footprint expansion, reflecting a strong demand. The company added 14 gross new stores (closed 2) during the quarter, with total store count at 139 by the end of Q2FY25. Total area stood at 14.82lksq.ft. with a growth of 35%YoY. Company’s sharp focus on growing its revenue/sq.ft. (growth of 30% during the quarter), assortments & designs and pricing strategies is yielding the results for the company
The Axis Top Picks Basket delivered an excellent return of 10.4% in the last three months against the 7.5% returns posted by Nifty 50 over the same period. Moreover, the basket climbed up by 2.3% in the last one month. It gives us immense joy to share that our Top Picks Basket has delivered an impressive return of 348% since its inception (May’20), which stands well above the 178% return delivered by the NIFTY 50 index over the same period. In light of this, we continue to believe in our thematic approach to Top Picks selection
The dividend yield is computed based on the closing price of 27th September 2024. We have considered companies that have consistently paid dividend in the last 3 years – i.e FY24/CY23, FY23/CY22 and FY22/CY21. The * mark indicates data for CY23. The **mark indicates data for Jun’23.
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