External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

External broker reports(aggregated public sources)

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

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Equity Bottom-Up

Happy Forgings Limited / Equity Bottom-Up

<ul><li>Happy Forgings (HFL)’s 2QFY25 result was encouraging as it reported a healthy EBITDA margin of 29.2% (+190bp YoY, est. 28%) led by a higher mix of machining and industrial segment.</li><li>Despite a muted demand outlook for its core CV division, we expect HFL to continue outperforming, driven by new order ramp-up, particularly in exports and industrials, growth in new segments such as PVs, and higher value addition.</li><li>To account for the weakness in CVs and export geographies, we have reduced our FY26E EPS estimate by 4.5%, while FY25E remains unchanged.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Happy Forgings (HFL)’s 2QFY25 result was encouraging as it reported a healthy EBITDA margin of 29.2% (+190bp YoY, est. 28%) led by a higher mix of machining and industrial segment.Despite a muted demand outlook for its core CV division, we expect HFL to continue outperforming, driven by new order ramp-up, particularly in exports and industrials, growth in new segments such as PVs, and higher value addition.To account for the weakness in CVs and export geographies, we have reduced our FY26E EPS estimate by 4.5%, while FY25E remains unchanged.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Happy Forgings - Margin Beats Estimate, Led by Better Product Mix

India

Happy Forgings Limited manufactures auto components. The Company produces and markets steering knuckles, front axle beams, bevel gears, counter shafts, and transmission components. Happy Forgings serves customers in India.

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Happy Forgings Limited (6596652Z IN)

Happy Forgings - Margin Beats Estimate, Led by Better Product Mix

Happy Forgings (HFL)’s 2QFY25 result was encouraging as it reported a healthy EBITDA margin of 29.2% (+190bp YoY, est. 28%) led by a higher mix of...

Motilal Oswal

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