Marut Suzuki India Ltd (MSIL)’s Q4 FY19 numbers came in line with our tepid expectatons as volumes reﬂected a negatve growth of 0.7% yoy, while showing a sequental improvement of 7%.
It has total loan book size ₹161 bn, consolidated balance sheet size of ₹244 bn, asset management AUMs of ₹114 bn, wealth management AUMs of ₹427 bn, PE & RE AUMs of ₹6.4 bn and ₹1.6 bn respectvely, ARC AUMs of ₹142 bn as on Q3FY19.
Endurance Technologies (Endurance) is one of the biggest suppliers of components to 2-wheelers and 3-wheelers in India, having core-competence in aluminium casting, transmission and suspension products.
Apollo’s standalone net sales grew by 16% yoy and 0.5% qoq to ₹ 30.6bn. The yoy growth came on the back of 11% blended volume growth, out of which the TBR segment volumes grew at double digit yoy, while PCR de-grew in mid-single digit.
Yes Bank Q3FY19 results were exceedingly good in terms of asset quality barring IL&FS account. There is change in the guard with Mr.Ravneet Gill appointed as new MD&CEO replacing Mr.Rana Kapoor.
Q3FY19 results of the bank were in-line with our expectatons PAT grew by 30% yoy to ₹ 3.3 bn. Balance sheet growth was strong credit grew by 24% yoy led by corporate and retail loans.
Zee’s topline in Q3 FY19 grew by 17.9% yoy as both advertsing revenues as well as domestc subscripton revenues grew strongly. Advertsing revenues grew by 22% yoy and 21.6% qoq higher than the trend observed in past few quarters.
Proftability of the bank was subdued (PAT +5% yoy and 7% qoq) during the quarter due to higher NPL provisioning while operatng proft growth was healthy (27% yoy).
Auto sales, especially the CV sales have been improving following the recovery in economy led by public sector investments and private consumption.
In our view, better days are ahead for the bank in terms of asset quality going forward. Large part of restructured assets has already been recognized as NPA by the bank (₹5.8 bn, down 77% in 4 yrs).