Please Share:: 
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Result Previews – 3QFY2011
Tata Motors
Tata Motors is scheduled to announce its 3QFY2011 results. On a consolidated basis, we
expect the company’s top line to grow by 11% yoy to `28,720cr, led by 17.4% yoy growth in
domestic volumes and 11.3% yoy jump in JLR volumes. EBITDA margin is expected to
expand by 142bp yoy to 12.8% despite input cost pressures, largely due to better operating
leverage. Consequently, the bottom line is expected to increase substantially by 195.3% yoy
to `1,920cr, albeit on a low base. The stock rating is under review.
HDIL
HDIL is scheduled to announce its 3QFY2011 results. We expect HDIL to report 2.8% yoy
growth in revenue to `420cr on account on higher TDR prices. However, we expect flat qoq
and a 30% yoy decline in TDR volumes. We expect a 1,183bp yoy increase in OPM at
58.0%, as TDR prices have increased by 25% since the last one year as compared to a
5–10% increase in construction cost. Consequently, the company’s net profit is estimated to
grow by 26.5% yoy to `205.9cr. At the CMP, the stock is trading at 63% discount to our oneyear
forward NAV of `343. We recommend Buy on the stock with a Target Price of `243.
Apollo Tyres
Apollo Tyres is slated to announce its 3QFY2011 results. We expect the company to post a
5% yoy decline in revenue to `1,259cr for the quarter. On the operating front, the company
is expected to post a 549bp yoy decline in margin to 10% on account of higher natural
rubber prices. As a result, net profit is expected to decline substantially by 67% yoy to `34cr.
The stock rating is under review.
Dishman Pharma
Dishman Pharma is scheduled to announce its 3QFY2011 results. Net sales are expected to
post 30.9% growth yoy at `291cr. OPM is expected to remain flat during the quarter at
23.1%. We estimate net profit to come in at `36.7cr, up 11% yoy. We currently recommend
Buy on the stock with a Target Price of `175.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Result Previews – 3QFY2011
Tata Motors
Tata Motors is scheduled to announce its 3QFY2011 results. On a consolidated basis, we
expect the company’s top line to grow by 11% yoy to `28,720cr, led by 17.4% yoy growth in
domestic volumes and 11.3% yoy jump in JLR volumes. EBITDA margin is expected to
expand by 142bp yoy to 12.8% despite input cost pressures, largely due to better operating
leverage. Consequently, the bottom line is expected to increase substantially by 195.3% yoy
to `1,920cr, albeit on a low base. The stock rating is under review.
HDIL
HDIL is scheduled to announce its 3QFY2011 results. We expect HDIL to report 2.8% yoy
growth in revenue to `420cr on account on higher TDR prices. However, we expect flat qoq
and a 30% yoy decline in TDR volumes. We expect a 1,183bp yoy increase in OPM at
58.0%, as TDR prices have increased by 25% since the last one year as compared to a
5–10% increase in construction cost. Consequently, the company’s net profit is estimated to
grow by 26.5% yoy to `205.9cr. At the CMP, the stock is trading at 63% discount to our oneyear
forward NAV of `343. We recommend Buy on the stock with a Target Price of `243.
Apollo Tyres
Apollo Tyres is slated to announce its 3QFY2011 results. We expect the company to post a
5% yoy decline in revenue to `1,259cr for the quarter. On the operating front, the company
is expected to post a 549bp yoy decline in margin to 10% on account of higher natural
rubber prices. As a result, net profit is expected to decline substantially by 67% yoy to `34cr.
The stock rating is under review.
Dishman Pharma
Dishman Pharma is scheduled to announce its 3QFY2011 results. Net sales are expected to
post 30.9% growth yoy at `291cr. OPM is expected to remain flat during the quarter at
23.1%. We estimate net profit to come in at `36.7cr, up 11% yoy. We currently recommend
Buy on the stock with a Target Price of `175.
No comments:
Post a Comment