Category: Analyst Meet Notes


Retain ADD with a SOTP based Mar’19 TP of Rs 190 (Rs 195 earlier) set at 2.5x FY20E ABV.
April 16, 2018, 1:08 p.m.
Publisher: indianotes.com

PSP’s tightly run operations (best-in-class WC and PAT margin) provide it industry-best RoIC of 35%.
April 13, 2018, 4:14 p.m.
Publisher: pspprojects.com

Our recent meeting with the Eicher Motors (EIM) management suggests that Royal Enfield (RE) is seeing good traction in its newly-launched Thunderbird X – a fact also corroborated by our channel checks.
April 13, 2018, 1:17 p.m.
Publisher: indianotes.com

Biocon is focused on its biopharma verticals that include APIs and generic formulations (41% of FY17 revenues), biosimilars (~14% of FY17 revenues) and proprietary molecules both commercialized and under development.
April 12, 2018, 11:32 a.m.
Publisher: indianotes.com


We recently met the senior management of Federal Bank which is one of the old private sector banks with a distribution network of 1252 branches (48% Kerala) and asset base of INR 1.2tn.
April 11, 2018, 3:16 p.m.
Publisher: indianotes.com

We met Mr. Ullas Kamath, Joint Managing Director of Jyothy Laboratories (JYL), to understand the company’s strategy to drive growth over the next few years.
April 11, 2018, 12:43 p.m.
Publisher: motilaloswal.com

We recently met the management of Capital First (CAFL). The proposed merger of IDFC Bank (IDFCB) with CAFL is likely to fructify by mid-FY19, creating a financial services entity with total assets of ~INR1.5t.
April 6, 2018, 1:08 p.m.
Publisher: motilaloswal.com

BEPL recently informed the stock exchange that they have repaid the entire amount of the sanctioned working capital credit facilities amounting to Rs 2,165 mn to Allahabad bank, Mumbai.
April 5, 2018, 2:24 p.m.
Publisher: plindia.com

We recently met the management of Dilip Buildcon (DBL) to get a perspective of the company’s business and future strategies. We also visited its Lucknow-Sultanpur HA project to gauge the company’s execution capabilities.
April 2, 2018, 6:01 p.m.
Publisher: indianotes.com

We tweak our FY18/FY19 EPS estimates by +1%/+4% and assign ADD to the stock (from REDUCE earlier); our Mar’19 TP of Rs 710 (700 previously) is set at a 25x TTM EPS of Rs 29.
March 27, 2018, 5:36 p.m.
Publisher: indianotes.com