BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
HDFC Securities Institutional Equities
Berger Paints India Ltd. - Berger Paints’ topline delivery (8% YoY; three-year compound annual growth rate: 14% Rs 21.9 billion in Q4) missed expectations (our estimate: Rs 23.6). FY19-22 CAGR (standalone) has lagged that of Asian Paints Ltd. (12% versus Asian Paints 15%). However, Berger Paints has managed to better balance growth and margin as we reckon the focus on lower average selling price products has been less intense versus Asian Paints over FY19-22.
Aditya Birla Fashion and Retail Ltd. - Aditya Birla Fashion's Q4 FY22 print beat expectations; Q4 revenue grew to Rs 21.8 billion (three-year CAGR: 4%; our estimate: Rs 21.4 billion). Both flagships aided the beat.
Bata India Ltd. - Bata’s Q4 topline came in line at Rs 6.65 billion and nearly hit pre-pandemic sales in Q4 (98%). However, its path to recovery has been the most arduous amongst peers. Margins surprised positively.
Fine Organic Industries Ltd. - We like Fine Organics, owing to 1. leadership in oleo-chemical based additives in the domestic and global markets with a loyal customer base, 2. unique business model with high entry barriers, 3. diversified product portfolio, and 4. pricing power.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR