Cipla, Torrent Pharma, APL Apollo Tubes, Shriram Transport, Federal Bank & More Q3 Reviews: HDFC Securities
BQ Blue’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 BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
HDFC Securities Institutional Equities
Cipla Ltd. - Cipla’s Q3 results came largely in line with our estimates as strong growth trends in India and the U.S. were partially offset by weak performance in other markets. India business continues to remain on a strong footing and is expected to outperform the market growth over the next few years.
Torrent Pharmaceuticals Ltd. - Torrent Pharma’s Q3 results were below expectations as revenue/Ebitda missed estimates by ~2%/20%. Ebitda margin at ~26% took a hit on account of elevated price erosion in the U.S. and certain one-offs.
Shriram Transport Finance Company Ltd. - Shriram Transport Finance’s Q3 FY22 earnings missed our estimates, primarily due to higher provisions on account of the Reserve Bank of India’s revised norms on daily marking of non-performing assets.
APL Apollo Tubes Ltd. - APL Apollo Tubes’ Q3 revenue increased 24% YoY/5% QoQ to Rs 32.3 billion, aided by higher realisation despite a 19% YoY volume decline.
Federal Bank Ltd. - Federal Bank’s Q3 FY22 earnings were broadly in line with our estimates as declining credit costs were partially offset by muted reflation in asset yields and lower other income.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint 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 BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.