External broker reports(aggregated public sources), Sharekhan

Sharekhan

External broker reports(aggregated public sources)

Sharekhan is India's leading broking house providing services from easy online trading, research to wide array of financial products. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Q2FY2025 earnings were hit by the sharp fall in PVC prices, weak infrastructure demand and extended monsoons.</li><li>However, stabilization of PVC prices at lower levels, expected pick-up in housing, agriculture and infrastructure demand is expected to result in strong H2 performance.</li><li>The management has guided for overall volume growth of 14-15% y-o-y and plastic piping volume growth of 16-18% y-o-y in FY2025. Consolidated OPM guidance is of 14.5-15.25%.</li></ul>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.

Q2FY2025 earnings were hit by the sharp fall in PVC prices, weak infrastructure demand and extended monsoons.However, stabilization of PVC prices at lower levels, expected pick-up in housing, agriculture and infrastructure demand is expected to result in strong H2 performance.The management has guided for overall volume growth of 14-15% y-o-y and plastic piping volume growth of 16-18% y-o-y in FY2025. Consolidated OPM guidance is of 14.5-15.25%.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.

Supreme Industries Ltd - Strong H2 to Drive Growth; Maintain Buy

<ul><li>Q2FY2025 earnings performance lagged estimates led by sharp volatility in PVC prices, weak infrastructure demand and extended monsoons.</li><li>However, adjusted OPMs beat estimates.</li><li>The management lowered overall volume growth guidance to 14-15% y-o-y and plastic piping volume growth to 16-18% y-o-y for FY2025. Consolidated OPM guidance marginally lowered to 14.5-15.25%.</li></ul>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.

Q2FY2025 earnings performance lagged estimates led by sharp volatility in PVC prices, weak infrastructure demand and extended monsoons.However, adjusted OPMs beat estimates.The management lowered overall volume growth guidance to 14-15% y-o-y and plastic piping volume growth to 16-18% y-o-y for FY2025. Consolidated OPM guidance marginally lowered to 14.5-15.25%.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.

Supreme Industries Ltd - Steep PVC Volatility Dent Q2; Dip Offers Buying Opportunity

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>In Q2FY25, Supreme Industries (SI) reported disappointing operational performance.</li><li>Blended plastic volume was flat YoY with pipes volume being flat too YoY (-27.1% QoQ; 5-year CAGR of 8.6%).</li><li>As per management, volumes were tepid in Q2 due to PVC price volatility, adverse weather and low infra spending.</li></ul>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.

In Q2FY25, Supreme Industries (SI) reported disappointing operational performance.Blended plastic volume was flat YoY with pipes volume being flat too YoY (-27.1% QoQ; 5-year CAGR of 8.6%).As per management, volumes were tepid in Q2 due to PVC price volatility, adverse weather and low infra spending.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.

Supreme Industries - Volumes and Profitability Disappoint; Pipe Volume Guidance Cut Sharply

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul><li>Bajaj Finance: Bajaj Finance (BAF) reported a mixed set of earnings with steady loan growth (+29% YoY) and improving operating efficiency offset by elevated credit costs (2.1% annualised)</li><li>Asset quality witnessed deterioration across most segments, with higher forward flow rates during Q2FY25 as well</li><li>The management has increased its FY25 credit cost guidance by 20-30bps, although incremental focus has shifted towards asset quality</li></ul>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.

Bajaj Finance: Bajaj Finance (BAF) reported a mixed set of earnings with steady loan growth (+29% YoY) and improving operating efficiency offset by elevated credit costs (2.1% annualised)Asset quality witnessed deterioration across most segments, with higher forward flow rates during Q2FY25 as wellThe management has increased its FY25 credit cost guidance by 20-30bps, although incremental focus has shifted towards asset qualityContent 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.

HSIE Results Daily: Bajaj Finance, ICICI Prudential Life, Persistent Systems, Supreme Industries

<ul><li>Bajaj Finance: Bajaj Finance (BAF) earnings were below our estimates on account of elevated provisioning (2.1%, adjusted for management overlay), and NIM compression, offsetting strong AUM growth (+31% YoY)</li><li>Loan growth continued to remain robust across segments except rural B2C (asset quality challenges) and urban sales finance (regulatory embargo)</li><li>While the management had indicated an uptick in credit costs during FY25, the sharp spike has been a negative surprise, although we expect some normalisation during H2FY25</li></ul>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.

Bajaj Finance: Bajaj Finance (BAF) earnings were below our estimates on account of elevated provisioning (2.1%, adjusted for management overlay), and NIM compression, offsetting strong AUM growth (+31% YoY)Loan growth continued to remain robust across segments except rural B2C (asset quality challenges) and urban sales finance (regulatory embargo)While the management had indicated an uptick in credit costs during FY25, the sharp spike has been a negative surprise, although we expect some normalisation during H2FY25Content 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.

HSIE Results Daily: Bajaj Finance, Torrent Pharma, ICICI Prudential Life, Supreme Industries

India

Supreme Industries Limited manufactures industrial and engineered molded products and storage and material handling crates.  The Company also manufactures chemicals, multilayer sheets, multilayer films, packaging films and expanded polyethylene foam, PVC pipes and fittings, molded furniture and disposable EPS containers.

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Supreme Industries (SI IN)

Supreme Industries Ltd - Strong H2 to Drive Growth; Maintain Buy

The management has guided for overall volume growth of 14-15% y-o-y and plastic piping volume growth of 16-18% y-o-y in FY2025. Consolidated OPM...

Sharekhan

Supreme Industries Ltd - Steep PVC Volatility Dent Q2; Dip Offers Buying Opportunity

Q2FY2025 earnings performance lagged estimates led by sharp volatility in PVC prices, weak infrastructure demand and extended monsoons. However,...

Sharekhan

Supreme Industries - Volumes and Profitability Disappoint; Pipe Volume Guidance Cut Sharply

In Q2FY25, Supreme Industries (SI) reported disappointing operational performance. Blended plastic volume was flat YoY with pipes volume being flat...

ICICI Securities Limited

HSIE Results Daily: Bajaj Finance, ICICI Prudential Life, Persistent Systems, Supreme Industries

Bajaj Finance: Bajaj Finance (BAF) reported a mixed set of earnings with steady loan growth (+29% YoY) and improving operating efficiency offset by...

HDFC Securities

HSIE Results Daily: Bajaj Finance, Torrent Pharma, ICICI Prudential Life, Supreme Industries

Bajaj Finance (BAF) earnings were below our estimates on account of elevated provisioning (2.1%, adjusted for management overlay), and NIM...

HDFC Securities

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