Analysis of all results reported on 7th and 8th Aug 2020

Analysis of all results reported on 7th and 8th Aug 2020

Analysis of all results reported on 7th and 8th Aug

PS: Data for education purpose only, use ur own discretion. Views on results may wary as per individual analysis

PATAKA
Divis
Sales up 49%, EBIDTA up 81%, PAT up 80%
Focus on growth in sales on HUGE base
40% margins vs 33.3%
All round upgrade from brokerage reports

Shilpa Medicare
Sales up 38%, ebidta up 128%
pat up 448% at 86 cr vs 16 cr
30% margins vs 18%
30x ttm p/e

SCI
Sales at 1143 cr vs 933 cr
Ebidta 505 cr vs 171 cr
Margins at 44.2% vs 18.3%
Pat 337 cr vs loss at 29 cr

GOOD
CIPLA
Sales up 9%, EBIDTA up 16%, PAT up 20%
Broad based beat; Cost control guidance surprises

Amara Raja Batt.
Sales down 36%, ebidta down 45%, PAT down 55%
Kotak: Impressive quarter, 1QFY21 EBITDA way above our estimates due to lower-than-expected revenue decline; Maintain REDUCE on fair valuations. FV revised to Rs700 (from Rs620 earlier)

Alkem
Sales up 8%, ebidta up 101%, pat up 127%

Ramco Ind
Sales 5%, ebidta up 39%, margins at 20.2% vs 13.8%
10x ttm p/e

Ramco System
Sales at 145 cr vs 133 cr qoq
Ebidta at 45 cr vs 19 cr qoq
Margins at 31% vs 14% (don’t think they are sustainable)

Anuh Pharma
51x ttm p/e> divis
Sales up 46%, pat up 203%, pat up 184%
Margins at 18.8% vs 9.1% (vs 2.6% qoq) – v volatile

Abbott India
Sales up 6.6%, EBIDTA up 34%, PAT up 54%
p/e 53x ttm

FDC
Sales down 10.3%, ebidta up 32%, pat up 63%
Buyback additional trigger but sales are weak

Affle India
At 70x ttm p/e sales up 20%, pat up 43%

Neogen chem
Sales up 19%, ebidta up 17%, pat up 12%
53x ttm p/e

BAD
Bata
Sales down 85%, ebidta loss at 86 cr vs profit at 243 cr, net loss 101 cr
50x ttm p/e
Ambit: Revised TP of Rs990 (Rs1,000 earlier) implies 21% downside and 37x FY22 EPS, on the back of 2% PAT CAGR in FY20-22.

Container corp
Sales down 27%, ebidta down 60%, pat down 75%
Jeffereis: EBITDA below expectations as margins declined 13.4% vs 24.6% YoY and estimated 18.0%
Ministry of Railways is asking for annual revised Land License Fees (LLF) of Rs7.77 bn vs ConCor’s expectation of Rs4.5 bn. This is a negative surprise

Sudarshan chem
Sales down 14%, ebidta down 16%, pat down 57%
24x ttm p/e

M&M
Sales down 37%, EBIDTA down 50%, net loss at 98 cr
Numbers were below estimates mainly due to lower-than-expected realization and margin in the Auto segment

Siemens
Sales down 58%, ebidta loss at 7 cr vs profit at 356 cr
p/e 40x

MGL
Sales down 65%, ebidta down 71%, pat down pat down 74%
Jefferies: 3.1% FY20-22E volume CAGR, Buy amid modest valuation at 10.8x FY22 P/E, strong balance sheet and 7% FCF yield

Finolex Ind
Sales down 40%, ebidta down 28%, pat down 22%
17x ttm p/e

Seshasayee Paper
Sales down 50%, ebidta down 50%

Sarda Energy
Sales down 37%, ebidta down 50%

Shailey eng
Sales down 42%, ebidta down 75%, net loss
Margins at 7.3% vs 16.6%

PHUUUSS
Kajaria Ceramics
Sales down 60%, ebidta loss 8 cr vs profit at 106 cr, net loss 27 cr
Emkay: Management indicated that capacity utilization has improved to 85% vs. the average of
26%/78% in Jun/Jul‘20.

Amber ent
Sales down 79%, ebidta loss at 6 cr vs profut at 116 cr, net loss at 22 cr
35x ttm p/e

Johnson Con. Hit
Sales down 72%, ebidta loss at 22 cr vs profit at 111 cr, net loss 23 cr

Beml
Sales down 33%, ebidta loss at 118 cr vs loss at 78 cr, net loss at 134 cr
Divestment/ defence/ any other story???

Andhra Paper
Sales down 67%, ebidta loss 13 cr vs profit at 112 cr

Automotive Axles
Sales down 90%, ebidta loss 14 cr vs profit at 49 cr

ENIL
Sales down 71%, ebidta loss at 26 cr vs profit at 33 cr

Zen Tech
Sales down 91%, ebidta loss at 2 cr

Varinder Bansal

Managing Partner, Pantomath Asset Management. Ex-Corporate Editor & Head of Research, CNBC-TV18

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