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Result Previews
Sterlite
Sterlite is slated to announce its 4QFY2011 results. The top line is expected to grow by
39.2% yoy to `9,896cr, led by higher sales volume and realisation. However, EBITDA
margin is expected to contract by 393bp to 25.2%. The bottom line is expected to grow by
6.6% yoy to `1,473cr. We maintain our Buy rating on the stock with a target price of `215.
Maruti Suzuki
Maruti Suzuki is slated to announce its 4QFY2011 results. We expect the company’s top
line to grow by healthy 17.4% yoy to `9,670cr, driven largely by 19.5% yoy growth in
volumes. However, we expect realisation to decline on account of huge discounts offered
by the company during the quarter. EBITDA margin is expected to decline by 420bp yoy to
9% due to a substantial increase in raw-material costs. As a result, the bottom line is
expected to decline by 19.2% yoy to `530cr. The stock rating is under review.
Sesa Goa
Sesa Goa is slated to announce its 4QFY2011 results. We expect the company’s top line to
grow by 9.7% yoy to `2,654cr on account of higher iron ore realisation. EBITDA margin is
expected to contract by 551bp to 56.6%. Hence, the bottom line is expected to grow by
5.6% yoy to `1,281cr. We maintain our Buy rating on the stock with a target price of `382.
KPIT
KPIT Cummins Infosystems (KPIT) is set to announce its 4QFY2011 results. We expect the
company to post revenue of US$60mn, led by volume growth of 3.8% qoq. In INR terms,
revenue is expected to come in at `272cr. EBITDA margin is expected to grow by 90bp
qoq to 15.0% on the back of better utilisation level. PAT is expected to come in at `26.8cr
with 4.2% qoq growth. We continue to be positive on the stock with an Accumulate rating
and a target price of `189.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Result Previews
Sterlite
Sterlite is slated to announce its 4QFY2011 results. The top line is expected to grow by
39.2% yoy to `9,896cr, led by higher sales volume and realisation. However, EBITDA
margin is expected to contract by 393bp to 25.2%. The bottom line is expected to grow by
6.6% yoy to `1,473cr. We maintain our Buy rating on the stock with a target price of `215.
Maruti Suzuki
Maruti Suzuki is slated to announce its 4QFY2011 results. We expect the company’s top
line to grow by healthy 17.4% yoy to `9,670cr, driven largely by 19.5% yoy growth in
volumes. However, we expect realisation to decline on account of huge discounts offered
by the company during the quarter. EBITDA margin is expected to decline by 420bp yoy to
9% due to a substantial increase in raw-material costs. As a result, the bottom line is
expected to decline by 19.2% yoy to `530cr. The stock rating is under review.
Sesa Goa
Sesa Goa is slated to announce its 4QFY2011 results. We expect the company’s top line to
grow by 9.7% yoy to `2,654cr on account of higher iron ore realisation. EBITDA margin is
expected to contract by 551bp to 56.6%. Hence, the bottom line is expected to grow by
5.6% yoy to `1,281cr. We maintain our Buy rating on the stock with a target price of `382.
KPIT
KPIT Cummins Infosystems (KPIT) is set to announce its 4QFY2011 results. We expect the
company to post revenue of US$60mn, led by volume growth of 3.8% qoq. In INR terms,
revenue is expected to come in at `272cr. EBITDA margin is expected to grow by 90bp
qoq to 15.0% on the back of better utilisation level. PAT is expected to come in at `26.8cr
with 4.2% qoq growth. We continue to be positive on the stock with an Accumulate rating
and a target price of `189.
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