Please Share:: 
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Result Previews
NTPC
NTPC is scheduled to announce its 2QFY2012 results. We expect the company to
record a 10.4% yoy increase in its top line to `14,733cr, aided by volume growth
and higher capacity. Operating profit is expected to increase by 46.7% yoy to
`3,094cr. The huge growth is on account of low base, since it had a huge one-off
provision of `1,263cr on sundry debtors during 2QFY2011. However, it also had
depreciation write-back and advance against depreciation (AAD) recognized as
prior-period sales, totaling `1,763cr in 2QFY2011. Thus, net profit is expected to
increase marginally by 2.1% yoy to `2,151cr. We maintain our Buy
recommendation on the stock with a target price of `202.
DRL
For 2QFY2012, DRL is expected to post strong results, with top-line growth of 7.6%
yoy to `2,013cr, majorly driven by the US market. The company is expected to see
strong traction in its Indian and Russian formulation businesses as well. In terms of
the PSAI segment, lackluster performance is expected for 2QFY2012. The
company is expected to post OPM of 20.7%, up 470bp yoy. On the net profit front,
the company is expected to post net profit of `295cr, 3.1% yoy growth. At the
CMP, the stock is trading at 17.6x FY012E and 16.1x FY2013E earnings. We
maintain our Buy rating on the stock with a target price of `1,920.
Sesa Goa
Sesa Goa is slated to announce its 2QFY2012 results. We expect the company’s
top line to grow by 22.5% yoy to `1,125cr on account of higher iron ore
realizations. On the operating front, EBITDA margin is expected to expand 100bp
yoy to 38.0%. However, the bottom line is expected to decline by 16.4% yoy to
`322cr due to a sharp decline in other income. We maintain our Buy
recommendation on the stock with a target price of `253.
KEC International
For 2QFY2012, KEC International (KEC) is expected to register strong growth of
17.0% yoy to `1,171cr on the back of strong execution of its robust order book.
On the EBITDA front, the company's margin is expected to remain under pressure
due to contribution of low-margin businesses (railways, cables and telecom);
however, increased contribution from SAE Towers is likely to ensure that margins
remain flat at 10.2%. Nonetheless, high interest cost is expected to shadow some
of the gains and the bottom line is expected to grow by 14.0% yoy to `48.7cr.
We maintain our Buy rating on the stock with a target price of `88.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Result Previews
NTPC
NTPC is scheduled to announce its 2QFY2012 results. We expect the company to
record a 10.4% yoy increase in its top line to `14,733cr, aided by volume growth
and higher capacity. Operating profit is expected to increase by 46.7% yoy to
`3,094cr. The huge growth is on account of low base, since it had a huge one-off
provision of `1,263cr on sundry debtors during 2QFY2011. However, it also had
depreciation write-back and advance against depreciation (AAD) recognized as
prior-period sales, totaling `1,763cr in 2QFY2011. Thus, net profit is expected to
increase marginally by 2.1% yoy to `2,151cr. We maintain our Buy
recommendation on the stock with a target price of `202.
DRL
For 2QFY2012, DRL is expected to post strong results, with top-line growth of 7.6%
yoy to `2,013cr, majorly driven by the US market. The company is expected to see
strong traction in its Indian and Russian formulation businesses as well. In terms of
the PSAI segment, lackluster performance is expected for 2QFY2012. The
company is expected to post OPM of 20.7%, up 470bp yoy. On the net profit front,
the company is expected to post net profit of `295cr, 3.1% yoy growth. At the
CMP, the stock is trading at 17.6x FY012E and 16.1x FY2013E earnings. We
maintain our Buy rating on the stock with a target price of `1,920.
Sesa Goa
Sesa Goa is slated to announce its 2QFY2012 results. We expect the company’s
top line to grow by 22.5% yoy to `1,125cr on account of higher iron ore
realizations. On the operating front, EBITDA margin is expected to expand 100bp
yoy to 38.0%. However, the bottom line is expected to decline by 16.4% yoy to
`322cr due to a sharp decline in other income. We maintain our Buy
recommendation on the stock with a target price of `253.
KEC International
For 2QFY2012, KEC International (KEC) is expected to register strong growth of
17.0% yoy to `1,171cr on the back of strong execution of its robust order book.
On the EBITDA front, the company's margin is expected to remain under pressure
due to contribution of low-margin businesses (railways, cables and telecom);
however, increased contribution from SAE Towers is likely to ensure that margins
remain flat at 10.2%. Nonetheless, high interest cost is expected to shadow some
of the gains and the bottom line is expected to grow by 14.0% yoy to `48.7cr.
We maintain our Buy rating on the stock with a target price of `88.
No comments:
Post a Comment