BUSINESS
Cera Sanitaryware: Decent Q2 in a subdued market; accumulate
The company has superior operational execution among its peers, which gets reflected through its margin, high return ratios and strong balance sheet
BUSINESS
Container Corp Q2 Review: Strong volumes, realisations drive profitability
The jump in realisations during the quarter was mainly on account of a freight rate hike and an upward revision in service charges
BUSINESS
Dalmia Bharat focuses on operating efficiencies to counter Q2 margin pressures
Demand for cement has been fairly strong in H1 FY19. However, pricing power remains elusive as industry leaders prefer to chase volumes
BUSINESS
Kajaria Ceramics: Robust Q2 performance in a tough market
Increase in crude oil and a weaker rupee will continue to have a bearing on natural gas prices and keep a check on margin over the next few quarters
BUSINESS
Hyderabad Industries: Strong Q2 show makes it an attractive long-term buy
Hyderabad Industries is a market leader in the building materials industry and the current stock valuations appear fairly reasonable for accumulation
BUSINESS
Consumer durables Q2 – which stock should you bet on?
From a business perspective, both Crompton and V-Guard have a strong product portfolio as well as execution capabilities and remain well positioned to capture the demand in the market.
BUSINESS
Ambuja Cements Q3 review: Subdued performance amid rising cost pressures
Ambuja Cements currently trades at a trailing EV/EBITDA multiple of 8.3x, which is at a significant discount to similar-sized peers as well as its 5 year average historic multiple.
BUSINESS
Higher oil prices smudge Asian Paints earnings palette
Although the company has reported a pick-up in volume growth in the past three quarters, the management remains cautious as demand is yet to witness a broad-based recovery and competitive intensity continues to remain elevated
BUSINESS
UltraTech Q2 review: Demand remains strong, but pricing power elusive
Outlook for the industry is positive as capacity utilisation continues to move up. The demand-supply dynamics is expected to move in favour of cement manufacturers in the medium term
BUSINESS
Havells Q2 review: Lloyd biz hit by unfavourable business climate; buy on dips
Given its strong positioning, we recommend accumulating the stock during corrections
BUSINESS
ACC Q1 review: Operational performance hit by cost pressures
From a valuation standpoint, the stock now trades at around 11 times FY19 EV/EBITDA and appears little stretched from a near term perspective
BUSINESS
Recovery not yet in sight for Avanti Feeds, Apex Frozen Foods & Waterbase
We continue to prefer Apex Frozen Foods from a business perspective, but volume growth is likely to see some stagnation this fiscal on account of lower domestic production and shrimp disease
BUSINESS
GM Breweries Q1 Review: Margin expansion stalled by increasing cost pressures
Given its strong business fundamentals, the stock seems an interesting bet at current levels
BUSINESS
Concor: Change in strategy a positive for business; accumulate
The company is expected to be a steady compounder over the next couple of years
BUSINESS
Ideas for Profit: Accumulate Heidelberg Cement India on every dip
We continue to prefer Heidelberg Cement from the midcap cement pack as the company has strong positioning in the central market and a superior margin profile compared to peers
BUSINESS
Centre's duty hike: Domestic manufacturers to benefit but higher cost could spoil festive mood
Although the duty hikes will have a positive impact on the fiscal situation of the Indian economy, the impact on companies will vary on an individual basis
BUSINESS
Venky's Q1 review – Excellent play on India's demographic, consumption growth story
Venky's enjoys market leadership in the sector and controls majority of the supply in its key operating markets.
BUSINESS
Som Distilleries: A high growth company in the alcoholic beverages space
The company is focusing on bolstering its sales and distribution network in southern and eastern markets where the per capita consumption of liquor is relatively higher than other parts of India
BUSINESS
Advanced Enzymes: Niche business available at attractive valuations makes it a strong buy
Post the Q1 results, the management has maintained its guidance for a topline of Rs 440-450 crores along with an operational profit of 190-200 crore. We believe there could be some upside risks (3-5%) to this guidance on account of the rupee depreciation.
BUSINESS
Ideas for Profit: HIL reinvents itself as global building material solutions player; accumulate
The recent acquisition of Parador will further expand its product and geographic footprint and position it as an integrated building solutions provider.
BUSINESS
Visaka Industries — Steady performer in the building materials industry
The company is setting up a new board plant with a capacity by 50,000 tons. The same is expected to come on-stream by Q2 FY19. The management expects the new plant to touch full capacity utilisation by FY20.
BUSINESS
Price erosion in LED: Here’s how it can impact consumer durable majors
While the volumes will continue to grow at a healthy pace due to shorter replacement cycles (reduction in warranty period) and deeper market penetration, the margins will certainly suffer on account of reduction in selling prices.
BUSINESS
Plastics Pipes Q1 review: Growing at a steady pace; accumulate Finolex Industries
Finolex Industries will continue to grow at a steady pace for the next couple of years as the management is seeing strong traction in high margin CPVC business, which registered 70 percent volume growth in Q1 FY19
BUSINESS
Midcap cement Q1 review: Volumes showing strong uptrend; Prefer Ramco
With increasing capacity utilisation across regions, cement prices are expected to firm up after the monsoons and should aid margin recovery, which appears to have bottomed out
