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Result Previews
Wipro
Wipro is set to announce its 4QFY2011 results. We expect the company’s IT services
segment’s revenue to grow by 3.8% qoq to US$1,395mn, led by volume growth of 4.3% in
the global IT segment. At the consolidated level, we expect the company to report 4.6%
qoq growth in revenue to `8,190cr. The company is expected to record a 110bp qoq
expansion in its EBIT margin to 23.3% for the IT services segment on the back of better
utilisations qoq. On a consolidated level, Wipro is expected to record a 100bp qoq
expansion in EBIT margin to 19.3%. PAT is expected to grow by 8.6% qoq to `1,433cr. We
maintain our Accumulate view on the stock with a target price of `510.
Bosch – 1QCY2011
Bosch is slated to announce its 1QCY2011 results. We expect the company to deliver
14.4% yoy growth in revenue to `1,808cr for the quarter. On the operating front, the
company is expected to post a 273bp yoy decrease in operating profit margin to 16.4%.
As a result, net profit is expected to post a marginal decline of 0.6% yoy to `201cr. The
stock rating is under review.
Dabur
Dabur is slated to announce its 4QFY2011numbers. For the quarter, we expect Dabur to
post robust growth of 20.8% yoy in its consolidated top line to `1,025.6cr, driven by steady
growth in its core brands and new product launches. The bottom line is expected to register
modest growth of 14.4% yoy to `154.7cr, aided by strong top-line growth and margin
expansion of 67bp to 19.8%. We maintain our Buy view on the stock with a target price of
`123.
Exide Industries
Exide Industries is slated to announce its 4QFY2011 results. We expect the company’s top
line to grow by 9.3% yoy to `1,123cr, backed by demand from the automobile and
industrial battery segments. On the operating front, EBITDA margin is expected to decline
by 511bp yoy to 16% due to a yoy increase in average lead price. As a result, the bottom
line is expected to decline by 4.4% yoy to `129cr. The stock rating is under review.
Indoco Remedies
Indoco Remedies is scheduled to announce its 4QFY2011 results. We expect the company
to report top-line growth of 8.5% to `118.2cr, majorly driven by the domestic segment.
OPM is expected to expand by 719bp yoy to 17.3%, driven by growth in domestic
formulation sales. Consequently, net profit is expected to increase by 51.4% yoy to
`12.5cr. We currently have a Buy recommendation on the stock with a target price of
`622.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
\
Result Previews
Wipro
Wipro is set to announce its 4QFY2011 results. We expect the company’s IT services
segment’s revenue to grow by 3.8% qoq to US$1,395mn, led by volume growth of 4.3% in
the global IT segment. At the consolidated level, we expect the company to report 4.6%
qoq growth in revenue to `8,190cr. The company is expected to record a 110bp qoq
expansion in its EBIT margin to 23.3% for the IT services segment on the back of better
utilisations qoq. On a consolidated level, Wipro is expected to record a 100bp qoq
expansion in EBIT margin to 19.3%. PAT is expected to grow by 8.6% qoq to `1,433cr. We
maintain our Accumulate view on the stock with a target price of `510.
Bosch – 1QCY2011
Bosch is slated to announce its 1QCY2011 results. We expect the company to deliver
14.4% yoy growth in revenue to `1,808cr for the quarter. On the operating front, the
company is expected to post a 273bp yoy decrease in operating profit margin to 16.4%.
As a result, net profit is expected to post a marginal decline of 0.6% yoy to `201cr. The
stock rating is under review.
Dabur
Dabur is slated to announce its 4QFY2011numbers. For the quarter, we expect Dabur to
post robust growth of 20.8% yoy in its consolidated top line to `1,025.6cr, driven by steady
growth in its core brands and new product launches. The bottom line is expected to register
modest growth of 14.4% yoy to `154.7cr, aided by strong top-line growth and margin
expansion of 67bp to 19.8%. We maintain our Buy view on the stock with a target price of
`123.
Exide Industries
Exide Industries is slated to announce its 4QFY2011 results. We expect the company’s top
line to grow by 9.3% yoy to `1,123cr, backed by demand from the automobile and
industrial battery segments. On the operating front, EBITDA margin is expected to decline
by 511bp yoy to 16% due to a yoy increase in average lead price. As a result, the bottom
line is expected to decline by 4.4% yoy to `129cr. The stock rating is under review.
Indoco Remedies
Indoco Remedies is scheduled to announce its 4QFY2011 results. We expect the company
to report top-line growth of 8.5% to `118.2cr, majorly driven by the domestic segment.
OPM is expected to expand by 719bp yoy to 17.3%, driven by growth in domestic
formulation sales. Consequently, net profit is expected to increase by 51.4% yoy to
`12.5cr. We currently have a Buy recommendation on the stock with a target price of
`622.
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