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

Motilal Oswal

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

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External broker reports(aggregated public sources)

Equity Bottom-Up

<p>GRASIM's 4QFY21 result exhibits the benefits of higher VSF prices and sustained cost reduction as EBITDA grew 106% YoY (26% QoQ) to INR8.1b. We cut our FY22E/FY23E standalone EBITDA by 7%/17% to factor in weak margin outlook for the Chemical business. The holding company discount of...</p><div class="content-highlight"><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></div>

GRASIM's 4QFY21 result exhibits the benefits of higher VSF prices and sustained cost reduction as EBITDA grew 106% YoY (26% QoQ) to INR8.1b. We cut our FY22E/FY23E standalone EBITDA by 7%/17% to factor in weak margin outlook for the Chemical business. The holding company discount of...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.

Earnings improve led by a recovery in the VSF segment

Grasim Industries

Earnings improve led by a recovery in the VSF segment