*  Good operating performance for the quarter & year ended December 2011 

*  IREVNA & Pipal Research report sustained growth  

*  Rating business was supported by BLR & SME ratings as...

Investment Highlights

Q3 FY12 Results Update

Dr. Reddy’s Lab. has reported consolidated net profit of Rs 5129.60 million for the quarter ended on December 31, 2011 as against Rs. 2731.40 mil...

Slightly subdued operational performance

Allcargo Logistics (AGLL) reported a consolidated adjusted PAT of Rs 508 mn vs. our estimate of Rs 560 mn and consensus estimate of Rs 600 mn in 4Q CY11, up ~20% YoY but falling 10%...

 *  The company has presented separate numbers for the continuing part of the business (Transmission) and discontinuing operations  distribution).

Hence yoy comparison is not relavant

 *  The T&D indust...

Q4CY11 – Results better than estimates; expect growth to continue

• Thomas Cook India Ltd. (TCIL) witnessed a 30.8% Y-o-Y growth in revenues to `873 mn driven by a 37.2% Y-o-Y growth in travel related services a...

  Sales ahead of expectations but margins decline

 * Revenues grew 63% YoY at Rs.160.5 crores. This was on the back of continues demand for its products and a promotional scheme offered by the company during the...

Results below expectations

Dhanuka Agritech reported results lower than expectations due to bad North East Monsoon which impacted the whole agrochemicals’ industry.
The reported sales of Rs 109.8 cr has declin...

We initiate coverage on Vivimed Labs Ltd as a BUY with a Price Objective of ` 468 (target 7.5x FY14 EPS). At CMP of ` 343, the stock is trading at 6.0x and 5.5x its estimated earnings for FY13 & FY14 representing a potential upside of ~36% ove...

Key Takeaways

Net revenues were up 13.2% to Rs 1758 crore while profits grew 16% to Rs 269.9 crore. However margins experienced a 230 bps drop qoq despite the benefits of a depreciating Re and growing vol...

Key Takeaways

Dr Reddy Laboratories Limited (Dr Reddy) reported a 47% growth in Net Sales to Rs. 2,769 crore driven by higher than expected sales (~99 mn) generated through Zyprexa (Olanzapine) FTF exclusivity. Aided by fa...

Key Takeaways

  * SBI’s advances grew ahead of expectations at 18% (tracking the system growth of 18%) to 8,69,393 driven largely by a 9% qoq expansion of its large corporate book, 7.2% qoq growth in the home lo...

Investment Highlights

Q3 FY12 Results Update

Pfizer has posted a net profit of Rs 482.80 million for the quarter ended Dec. 31, 2011 as compared to Rs 435.80 million for the quarter ended Dec. 31,...

Results good; Outlook remains positive

Eicher Motor results are good. Although parent company (12% of consolidated sales) saw some decline on account of lower sales on Bullet motorcycle but subsidiary continue to perform w...

Company Profile

Nitin Fire Protection Industries Ltd (NFPIL) is an end to end solution provider for fire protection, safety and security systems with the capabilities in designing, engineering, commissioning and maintenanc...

Improved quarterly performance – Better Visibility

Revenues for the quarter grew by 7.7% to Rs 12.8 bn due to better traction in formulations space, primarily in ARV and EU+ RoW space. US revenues continues to grow q...

Quarterly Analysis

Essel Propack Global operations reported a jump in net sales YoY by 13.7% and up by 4.7% QoQ to Rs. 414.04 crs backed by strong growth registered in all four regions comprising: AMESA (10.5% YoY), AMERIC...

Q3FY12 – Standalone results surprise positively leading to lesser than  estimated losses in Q3FY12

• Cox & Kings Ltd. (C&K) witnessed a 162.8% Y-o-Y growth to `2.85 led by the acqui...

Business Summary

Muthoot Finance Limited (MFL) is India’s largest gold loan financing company (in terms of loan portfolio with an AUM of Rs.22694 crores) and a market share of 19.5% of the total gold loan market in I...

Q3FY12 – Lower margins impacted profitability

• The company reported PAT growth of 0.4% Y-o-Y in Q3FY12 mainly due to lower margins.

• Net Interest Income (NII) has declined by 0.7% Y-o-Y basis in Q...

Key Takeaways

Power Grid Corporation of India Ltd. (PGCIL) posted a 20.2% increase in revenues on yearly basis to Rs. 2,466 crore on the back of 18.4% revenue growth in transmission segment and 82% increase in revenues fro...