In today’s briefing:
- Aarti Industries Q1 FY2025 Update
- Indian Banks Screener 1QFYE25: Positive Focus on Value Based Smaller Caps
- ACME Solar Holdings – Strong Sector Tailwinds but Need to Keep an Eye on Profitability
Aarti Industries Q1 FY2025 Update
- New CEO Suyog appointed in Q1 FY2025, who held leadership roles at Reliance Industries (RIL IN) and McKinsey & Company.
- Aarti Industries (ARTO IN) reported 28% revenue growth, 52% EBITDA growth and 95% PAT growth on YoY basis.
- Company become cautious about its FY25 EBITDA guidance of Rs. 1,450-1,700 crore, given global headwinds such as the Red Sea crisis and Chinese dumping.
Indian Banks Screener 1QFYE25: Positive Focus on Value Based Smaller Caps
- Our positive focus remains on smaller cap Indian banks, with buys on value plays Bandhan, Baroda and UBI; we are negative on richly valued ICICI Bank and Kotak Mahindra
- UBI shares have been poor performers, but its returns to 1QFYE25 have improved and it is a value stand-out; Baroda remains a favourite and Bandhan has delivered better profitability
- Kotak Mahindra is the peer group’s highest return bank post credit costs, but returns are declining; ICICI also has attractive returns but we believe its credit costs are unsustainably low
ACME Solar Holdings – Strong Sector Tailwinds but Need to Keep an Eye on Profitability
- ACME Solar Holdings (1700918D IN) is looking to raise US$360m in its upcoming India IPO.
- ACME Solar (ACME) is a renewable energy firm with a portfolio of solar, wind, hybrid and firm and dispatchable renewable energy (FDRE) projects.
- In this note, we talk about the company’s historical performance.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
