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HCL Technologies – 1QFY2012
HCL Technologies is slated to announce its 1QFY2012 numbers. We expect
the company to post revenue of US$1,022mn, with 6.1% qoq growth, led by
robust volume growth of 6.9% qoq. In rupee terms, revenue is expected to
grow by 8.6% qoq to `4,671cr. EBITDA margin is expected to decline by
200bp qoq to 16.5% because of negative impact of wage hikes given from
July 1, 2011. PAT is expected to come in at `495cr. The company is one of
our preferred picks in the IT sector. We maintain our Buy rating on the stock
with a target price of `558.
Hero MotoCorp
Hero MotoCorp is slated to announce its 2QFY2012 results. We expect the
company’s top line to grow strongly by 28% yoy to `5,754cr, driven by 20%
yoy growth in volumes and a ~6% increase in average net realization, led by
price increases. Sequentially, operating margin (adjusted for change in
accounting for royalty payments) is expected to remain flat at 11.2%; however,
margin is expected to decline by 219bp yoy due to raw-material cost pressures
and higher marketing and advertising spends. As a result, we expect the
bottom line to grow at a slower pace of 10% yoy to `557cr. The stock rating is
under review.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Result Previews
HCL Technologies – 1QFY2012
HCL Technologies is slated to announce its 1QFY2012 numbers. We expect
the company to post revenue of US$1,022mn, with 6.1% qoq growth, led by
robust volume growth of 6.9% qoq. In rupee terms, revenue is expected to
grow by 8.6% qoq to `4,671cr. EBITDA margin is expected to decline by
200bp qoq to 16.5% because of negative impact of wage hikes given from
July 1, 2011. PAT is expected to come in at `495cr. The company is one of
our preferred picks in the IT sector. We maintain our Buy rating on the stock
with a target price of `558.
Hero MotoCorp
Hero MotoCorp is slated to announce its 2QFY2012 results. We expect the
company’s top line to grow strongly by 28% yoy to `5,754cr, driven by 20%
yoy growth in volumes and a ~6% increase in average net realization, led by
price increases. Sequentially, operating margin (adjusted for change in
accounting for royalty payments) is expected to remain flat at 11.2%; however,
margin is expected to decline by 219bp yoy due to raw-material cost pressures
and higher marketing and advertising spends. As a result, we expect the
bottom line to grow at a slower pace of 10% yoy to `557cr. The stock rating is
under review.
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