UltraTech is strongly placed to benefit from its aggressive capacity addition plans with focus on further reducing cost structure. We expect revenue to grow at ~10.8% CAGR over FY24-26E while EBITDA and PAT are expected to grow at 18.1% and 21.2% CAGR respectively over the same period
KPI Green Energy order book provides healthy revenue visibility for next 2-3 years. Buy for target price of ₹2219 (21% upside): SBI Securities
The company during the quarter has reported 58.6%/71.2%/35.5% YoY growth in Sales/EBIDTA/PAT to Rs 289.4 cr/Rs 92.9 cr/ Rs 43.0 cr respectively. The full year FY24 Sales/EBITDA/PAT were up 59.0%/61.6%/47.5% YoY to Rs 1,023.9 cr/ Rs 336.8 cr/ Rs 161.7 cr respectively. The EBITDA margin for FY24 remained stable at 32.9% up 51 bps YoY. The overall full year performance in terms of revenue and EBITDA were higher than our expectations, however profit marginally missed our expectation on account of higher interest costs
Zomato is priming the innovation engine & is the top pick in the Indian internet space. Buy for target price of ₹300 (63% upside): ICICI Securities
Zomato’s ability to ‘execute’ at scale is well recognised by investors. We believe the company is now gearing up to improve its credentials as an ‘innovator’. We note it has launched multiple new initiatives in the past 40 days which aim at improving customer experience or exploring adjacencies in its core ‘food delivery’ business.
Huhtamaki has embarked on ‘Project Parivartan’ & is on the verge of turnround. Buy for target price of ₹434 (41% upside): SMIFS
Huhtamaki India Ltd. One-offs impacted profitability in Q1, On the verge of a Turnaround, Upgrade to BUY The company reported good show excluding the one-offs. Revenue declined by ~8% YoY but grew by mere ~1% QoQ. Lower volumes on YoY basis impacted the topline. Gross margin expanded by 332bps YoY but declined by 44bps QoQ […]
Patel Engineering has huge Opportunity ahead. Buy for target price of ₹80 (36% upside): ICICI Direct
Hindalco is a Conviction Idea which is enriching product portfolio for long term growth. Buy for target price of ₹780 (26% upside): ICICI Direct
We have a positive view on Hindalco driven by its strategic capacity expansion at Novelis and Indian operations, structural drivers in place for healthy demand of Aluminium metal and controlled leverage on B/S (Debt: Equity at ~0.5x). We assign BUY rating on the stock with target price at ₹780 wherein we have valued it at 7.5x EV/EBITDA on FY26E
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