Analysis of results declared on 21st July 2020

Analysis of results declared on 21st July 2020

Analysis of results declared on 21st July 2020 #excelgiri

This data is only for education, plz use your own discretion

GOOD but cost led
Indiamart
Sales up 4% but down 10% qoq, ebidta double, pat up 130%
Margins improved due to cost control measures taken by the management and lower employee cost, however growth has been impacted
Paying Subscription supplier came at 133000 (i.e QoQ reduction of 14000 paid suppliers) Vs QoQ 147000 vs YoY 132500
EBITDA Margin came at 47.9% vs QoQ 30.7%, YoY 24.9%
42x TTM P/E

Asahi Songwon
Sales down 30% but ebidta up 50%, pat up 78%
Sales reduction is a dampener for me
TTM PPE 12x

WEAK
Syngene
Sales flat, ebidta up 3% yoy but down 39% qoq, pat down 20% yoy and down 51% qoq
48x TTM P/E but isko koi farak nahin padta hain

Tata Elxsi
Sales down 9% qoq, ebidta down 15% qoq, pat down 16%
Ttm p/e 21x
Concall today will be imp

DCM Shriram
Sales flat, ebidta down 53%, pat down 69%
Ebidta at 166 cr vs 350 cr, margins at 8.7% vs 18.4%
Chemicals PBDIT down 84% at 40 cr vs 250 cr
-chloro-vinyl ebit at 43 cr vs 266 cr
Lower volumes in Chloro-vinyl and Fenesta businesses impacted ebidta
Other segments did well

Allsec Tech
Sales down 10% qoq, ebidta down 30%, pat down 45%
Har midcap tech co Majesco nahin hoti hain

Rajratan Global
Sales down 50%, ebidta down 58%, pat down 83%

PHUUUS
Polycab India
Sales down 50%, ebidta down 74% at 57 cr vs 224 cr, margins at 6% vs 11.5%
Wires and Cables biz rev segment down 51% at 794 cr vs 1610 cr
TTM P/E 17x

Mahindra CIE
Sales down 65% at 735 cr vs 2142 cr, ebidta loss at 96 cr vs profit at 262 cr, net loss at 129 cr

Hindustan Copper
Sales down 68% at 147 cr vs 455 cr, ebidta loss at 413 cr vs profit at 144 cr, net loss at 515 cr

Himadri Specialt
Sales down 38%, ebidta down 75%, margins at 8.4% vs 21.6%
TTM P/E 10x

Shanthi Gears
Sales down 65%, ebidta loss at 4 cr vs profit

SML ISUZU
Sales down 37%, ebidta down 79%, reports a net loss

Somany Home Inn.
Sales down 51%, ebidta loss at 17 cr

Varinder Bansal

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

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