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Cairn India : 1QFY2011 Result Update 29 Jul 2010
Cairn India (CIL) reported net profit of Rs281cr for 1QFY2011, significantly lower than street and 11% below our estimates. This was despite the better-thanexpected operating profits on account of l....
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DLF : 1QFY2011 Result Update 29 Jul 2010
DLFs 1QFY2011 results were marginally below our expectations on account of higher interest and depreciation expenses. DLF reported worst residential volumes (1.44mn sq ft) since 4QFY2009 on account ....
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Consolidated Construction Consortium : 1QFY2011 Result Update 29 Jul 2010
Consolidated construction consortium (CCCL) reported in-line net sales for 1QFY2011 led primarily by decent order inflow during the last few quarters. The operating margins and earnings were also in....
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IRB Infrastructure : 1QFY2011 Result Update 29 Jul 2010
IRB Infrastructure (IRB) reported consolidated top-line growth below our estimates, primarily led by below-expectation performance by the construction vertical. The operating margin at the consolida....
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HT Media : 1QFY2011 Result Update 29 Jul 2010
HT Media (HTML) posted robust numbers on both revenue and profitability fronts. Key highlights include: 1) overall growth of 22% yoy in ad revenue - 21% yoy in English (positive surprise) and 24% yo....
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Ashok Leyland : 1QFY2011 Result Update 29 Jul 2010
Ashok Leyland (ALL) registered a substantial 157% yoy growth in net sales for 1QFY2011. However, lower-than-expected growth in other businesses (engine and spare parts) restricted higher growth. Net....
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HUL : 1QFY2011 Result Update 29 Jul 2010
HUL posted disappointing set of numbers for 1QFY2011, below our expectations on the profitability front. While top-line growth was marginally above estimates, driven by 11% volume growth, recurring ....
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JSW Steel : 1QFY2011 Result Update 29 Jul 2010
JSW Steel reported consolidated net revenue of Rs4,779cr in 1QFY2011, below our estimates of Rs5,817cr. Net profit at Rs295cr was also below our estimates of Rs565cr. We believe JSW Steel is well pl....
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Balrampur Chini Mills : 3QSY2010 Results Update 29 Jul 2010
Balrampur Chini Mills (BRCM) 3QSY2010 results were below our expectations mainly due to increased cane cost and higher contribution from levy sales. Total sales were flat at Rs540cr in 3QSY2010, whi....
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Union Bank of India : 1QFY2011 Result Update 29 Jul 2010
Union Bank of India registered net profit growth of 36.0% on a yoy basis to Rs601cr, which is better than our estimate of Rs542cr mainly on account of lower provisioning expenses. Steady operating p....
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NTPC : 1QFY2011 Result Update 28 Jul 2010
NTPC posted a moderate 7.8% yoy increase in net sales to Rs12,944cr in 1QFY2011, driven by lower PLFs recorded in the 1,600MW Farakka (74% in 1QFY2011 vs. 85% in 1QFY2010) 2,340MW Kahalgoan (64% in ....
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Dena Bank : 1QFY2011 Result Update 28 Jul 2010
In 1QFY2011, Dena Bank reported net profit growth of 20.7% yoy, ahead of our estimates, on account of higher-than-expected growth in net interest income (NII). However, the sequential increase in gr....
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Reliance Industries : 1QFY2011 Result Update 28 Jul 2010
For 1QFY2011 Reliance Industries (RIL) declared lower-than-expected set of numbers on the EBIDTA front. However, the results were in line with our estimates on the bottom-line front. EBITDA came in ....
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SpiceJet : 1QFY2011 Result Update 28 Jul 2010
SpiceJet has reported higher-than-estimated 1QFY2010 numbers. Net sales grew by 34.9% yoy to Rs708cr (Rs525cr). The company reported 425bp expansion in OPM to 8.3% (4.0%) mainly due to increase in p....
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Asian Paints : 1QFY2011 Result Update 28 Jul 2010
Asian Paints (APL) posted yet another quarter of strong results beating our estimates by ~6-8% on both revenue and profitability front. Consolidated top-line grew 25% yoy led by: 1) ~18-20% volume g....
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Market Strategy, July 2010
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