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)

Motilal Oswal Financial Services Limited

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

Equity Bottom-Up

Tube Investments of India  / Equity Bottom-Up

<ul><li>Tube Investments (TIINDIA)’s 2QFY25 result was weak, with standalone PBIT margin at 9.9% (-110bp YoY, vs. est. 10.6%), hit by one-offs in engineering segment and railway pricing challenge.</li><li>However, management remains optimistic for 2HFY25, expecting strong 2W volumes, improved exports, and diversification beyond automotive that would drive growth.</li><li>We cut our FY25E/FY26E consolidated EPS by 24%/14% to factor in moderate demand in domestic PVs and CVs and slower than expected ramp-up at CG Power. </li></ul><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>

Tube Investments (TIINDIA)’s 2QFY25 result was weak, with standalone PBIT margin at 9.9% (-110bp YoY, vs. est. 10.6%), hit by one-offs in engineering segment and railway pricing challenge.However, management remains optimistic for 2HFY25, expecting strong 2W volumes, improved exports, and diversification beyond automotive that would drive growth.We cut our FY25E/FY26E consolidated EPS by 24%/14% to factor in moderate demand in domestic PVs and CVs and slower than expected ramp-up at CG Power. 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.

Tube Investments of India - Performance Below Estimates; 2HFY25E to Be Better