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1QFY2012 Result Preview
ONGC
ONGC is slated to announce its 1QFY2012 results. We expect the company’s top line to
grow by 17.1% yoy to `16,191cr mainly on account of higher realisations. On the
operating front, EBITDA margin is expected to decline by 585bp yoy to 53.4%. The bottom
line is expected to grow by 6.6% yoy to `3,904cr. We recommend Buy on the stock with a
target price of `336.
ITC
ITC is expected to announce its 1QFY2012 results. For the quarter, we expect ITC to report
18.2% yoy growth in its top line to `5,692cr, impacted by strong growth in all its segments.
ITC’s earnings for the quarter are expected to grow by 21.6% yoy to `1,301cr, driven
largely by its top line and operating margin expansion of 82bp yoy. We maintain our
Neutral view on the stock.
NMDC
NMDC is slated to announce its 1QFY2012 results. We expect the company’s top line to
grow by 34.9% yoy to `3,397cr mainly on account of higher realisations. On the operating
front, EBITDA margin is expected to decline by 1,820bp yoy to 63.3%. The bottom line is
expected to grow by 14.2% yoy to `1,717cr. We recommend Neutral on the stock.
HUL
HUL is expected to announce its 1QFY2012 results. We expect the company to report a
steady 13.9% yoy growth rate in its revenue to `5,462cr and a ~50bp yoy expansion in its
operating margin to 12.9%. The company is expected to report strong growth in recurring
earnings by 18.3% yoy as it had reported an earnings decline in 1QFY2011. Due to the
sharp run-up in the stock price, we recommend Neutral on the stock.
CCCL
Consolidated Construction Consortium (CCCL) is expected to post poor numbers for
1QFY2012. We expect mere 10.0% yoy top-line growth, given the slow-moving infra and
commercial orders (41% of the order book). On the EBITDA front, we expect the company
to register a dip of 237bp to 5.9% (8.3%), owing to low-margin orders (`1,150cr) in the
final stages of completion and fixed price contracts in which rise in material prices is above
the company’s estimates, leading to margin pressure. Against this backdrop, the
bottom line for the quarter is expected to decline by 57.1% yoy to `7.7cr (`17.9cr). We
maintain Neutral view on the stock.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
1QFY2012 Result Preview
ONGC
ONGC is slated to announce its 1QFY2012 results. We expect the company’s top line to
grow by 17.1% yoy to `16,191cr mainly on account of higher realisations. On the
operating front, EBITDA margin is expected to decline by 585bp yoy to 53.4%. The bottom
line is expected to grow by 6.6% yoy to `3,904cr. We recommend Buy on the stock with a
target price of `336.
ITC
ITC is expected to announce its 1QFY2012 results. For the quarter, we expect ITC to report
18.2% yoy growth in its top line to `5,692cr, impacted by strong growth in all its segments.
ITC’s earnings for the quarter are expected to grow by 21.6% yoy to `1,301cr, driven
largely by its top line and operating margin expansion of 82bp yoy. We maintain our
Neutral view on the stock.
NMDC
NMDC is slated to announce its 1QFY2012 results. We expect the company’s top line to
grow by 34.9% yoy to `3,397cr mainly on account of higher realisations. On the operating
front, EBITDA margin is expected to decline by 1,820bp yoy to 63.3%. The bottom line is
expected to grow by 14.2% yoy to `1,717cr. We recommend Neutral on the stock.
HUL
HUL is expected to announce its 1QFY2012 results. We expect the company to report a
steady 13.9% yoy growth rate in its revenue to `5,462cr and a ~50bp yoy expansion in its
operating margin to 12.9%. The company is expected to report strong growth in recurring
earnings by 18.3% yoy as it had reported an earnings decline in 1QFY2011. Due to the
sharp run-up in the stock price, we recommend Neutral on the stock.
CCCL
Consolidated Construction Consortium (CCCL) is expected to post poor numbers for
1QFY2012. We expect mere 10.0% yoy top-line growth, given the slow-moving infra and
commercial orders (41% of the order book). On the EBITDA front, we expect the company
to register a dip of 237bp to 5.9% (8.3%), owing to low-margin orders (`1,150cr) in the
final stages of completion and fixed price contracts in which rise in material prices is above
the company’s estimates, leading to margin pressure. Against this backdrop, the
bottom line for the quarter is expected to decline by 57.1% yoy to `7.7cr (`17.9cr). We
maintain Neutral view on the stock.
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