Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

High Yield Experts

Senior Credit Analyst, Lucror Analytics

Trung Nguyen

Senior Credit Analyst

Credit

Indika Energy's FY 2020 results were weaker than expected, and below guidance as well. The poor performance of Kideco was no surprise (amid low coal prices), but we note that there were no benefits of diversification from Indika's other segments, which in fact delivered even worse figures. Negatively, profitability was also much lower y-o-y, due to Indika's operating leverage given the fixed SG&A. That said, liquidity remains adequate and the debt maturity profile has become long-dated. We expect much better performance in FY 2021, thanks to the more favourable operating environment (with the pandemic's impact easing) as well as higher coal prices (with the price recovery having begun in October 2020).

  Indika Energy's FY 2020 results were weaker than expected, and below guidance as well. The poor performance of Kideco was no surprise (amid low coal prices), but we note that there were no benefits of diversification from Indika's other segments, which in fact delivered even worse figures. Negatively, profitability was also much lower y-o-y, due to Indika's operating leverage given the fixed SG&A. That said, liquidity remains adequate and the debt maturity profile has become long-dated.   We expect much better performance in FY 2021, thanks to the more favourable operating environment (with the pandemic's impact easing) as well as higher coal prices (with the price recovery having begun in October 2020). 

Indika Energy - Earnings Flash - FY 2020 Results - Lucror Analytics