Nirmal Bang

Nirmal Bang, one of the leading stock broking companies in India, caters to retail and institutional clients by offering them a range of financial products and services, including equities, derivatives, commodities, currency derivatives, mutual funds, IPOs, insurance, depository services and PMS.

Nirmal Bang is drawn from a diversity of professional backgrounds, and blend of experience, skill and dedication is shared with its clients. Nirmal Bang emphasizes adequate, thorough research local and world-wide developments, balancing these with the astute discovery of intrinsic values, synergies and growth. The aim is simply to help the investors to maximize their returns.

A Relationship Beyond Broking

External broker reports(aggregated public sources), Nirmal Bang

External broker reports(aggregated public sources)

Equity Bottom-Up

<div><ul><li>4QFY22 Earnings Highlights: SS<span style="font-size: var(--content-font-size);">L reported revenue of Rs3,837mn, up 6% YoY and 7.2% QoQ.</span></li></ul><div><div><div><div><ul><li>Formulations business reported sales at Rs2,563mn, up 2.3% YoY and 0.3% QoQ.</li></ul><div><div><div><div><ul><li>Europe formulations business reported sales at Rs1,034mn, down 7.1% YoY and 1.8% QoQ.</li></ul></div></div></div></div></div></div></div></div></div><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>

4QFY22 Earnings Highlights: SSL reported revenue of Rs3,837mn, up 6% YoY and 7.2% QoQ.Formulations business reported sales at Rs2,563mn, up 2.3% YoY and 0.3% QoQ.Europe formulations business reported sales at Rs1,034mn, down 7.1% YoY and 1.8% QoQ.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.

Sequent Scientific - Recovery in API Business; Gross Margin Remains Below FY21