1. Executive Summary: The Headline Strong YoY growth but a modest miss on PAT. Net profit rose ~38% YoY to ₹7,003 cr, slightly below street estimates, while NII beat expectations and asset quality improved further. Overarching narrative: Healthy loan and deposit growth, sharp decline in provisions, and sequential improvement in GNPA/NNPA. Sequential NIM pressure and… Read More »
1. Executive Summary: The Headline Solid beat on top line and operating metrics. Revenue rose 18% YoY to ₹2,263 cr and EBITDA expanded 24% with margin improvement, while reported PAT jumped sharply (partly aided by a low base). Overarching narrative: Broad-based growth across ECD (fans, pumps, appliances), Lighting, and Butterfly, supported by record exports, price… Read More »
“A tree grows as tall as its roots run deep.” In the blinding glitter of modernity, we often forget that identity is not built by clothes, language, or appearance—but by sanskar. By values. By the soil from which we rise. This is the story of a family that nearly lost its roots in the race… Read More »
1. Executive Summary: The Headline Mixed-to-positive quarter with a clear profitability beat. Revenue was essentially flat QoQ (and solidly higher YoY), while PAT and EBITDA margins expanded sharply on cost control and non-broking strength. Overarching narrative: Resilience of the client franchise and operating leverage despite softer trading activity and regulatory/market-structure headwinds (including Closing Auction Session… Read More »
1. Executive Summary: The Headline Mixed bag with a clear operational beat masked by a one-off. Revenue delivered strong double-digit growth (26th consecutive quarter of sequential expansion), while adjusted/operating PAT rose 5% YoY. Reported PAT fell ~25% YoY due to exceptional Nagarro acquisition costs. Overarching narrative: Sustained high-growth execution continues, with solid deal momentum and… Read More »
1. Executive Summary: The Headline Clean operational beat. Revenue and EBITDA exceeded estimates with sequential margin expansion, while reported PAT rose 4.2% YoY. The sequential PAT decline was driven by lower other income (market-linked), not core operations. Overarching narrative: Solid AUM growth, healthy operating leverage, and resilient core profitability. The quarter reinforces HDFC AMC’s strong… Read More »
1. Executive Summary: The Headline Clean beat with strong margin progression. Revenue grew solidly (+15.6% YoY / +2.4% CC QoQ), PAT jumped 32.7% YoY, and EBIT margin expanded to 14.8% (12th consecutive quarter of improvement). Overarching narrative: Turnaround execution continues to deliver, with healthy deal momentum ($1.023B TCV), progress toward the 15% FY27 EBIT margin… Read More »
1. Executive Summary: The Headline Clean, broad-based beat. Revenue surged ~53% YoY to a record Q2 level, EBITDA and PAT rose ~39% and ~43% YoY respectively, and results exceeded estimates across revenue, EBITDA, and profit. Overarching narrative: Strong execution in Wires & Cables (supported by domestic infrastructure and electrification demand) plus a sharp improvement in… Read More »
1. Executive Summary: The Headline Miss on profitability with muted growth. Consolidated revenue rose modestly (+1.1% QoQ / +9.1% YoY), but PAT declined ~4.5% QoQ and ~1.9% YoY. IT Services revenue was flat in constant currency. Overarching narrative: Soft demand environment persists, with a sharp sequential drop in total and large-deal bookings and cautious Q3… Read More »
1. Executive Summary: The Headline Strong operational beat on growth and margins, largely in line with or slightly ahead of street estimates. Revenue rose ~20% YoY on double-digit volume growth, EBITDA expanded sharply, and PAT jumped ~36% YoY. Overarching narrative: Broad-based volume-led performance across categories, with margin expansion despite elevated advertising spends and management commentary… Read More »