Paytm parent One 97 Communications Ltd., M&M Financial Services Ltd., Dixon Technologies Ltd., Colgate Palmolive India Ltd. are among the top companies on brokerages' radar on Wednesday. Analysts have shared their views on the June quarter earnings of these companies.
Several brokerages have also changed their target price for these stocks based on a fundamental outlook revision.
NDTV Profit tracked analysts' views on various stocks and sectors. Here are the analyst calls to keep an eye out for today.
Brokerages On Paytm Q1 Results
Citi
Maintain 'Buy'; Hike target price to Rs 1,215 from Rs 975.
The company delivered a solid Ebitda beat driven by continuing cost efficiencies and a healthy merchant business.
The consumer business, while showing signs of recovery, remains relatively tepid.
Estimates have been lowered due to the removal of UPI-Merchant Discount Rate (MDR) from forecasts.
The valuation multiple has been raised to 50 times from 35 times previously, attributed to significantly lower policy-driven downside risks.
BofA
Maintain 'Neutral'; Hike TP to Rs 1,160 from Rs 1,005.
Q1 results showed in-line revenues but a beat on profitability, with the company posting a net profit.
Guidance indicates a contribution margin in the 50s range and an Ebitda margin of 15-20%.
Post Q1 results, multiples in the Sum-of-the-Parts (SOTP) valuation have been raised given healthy business execution.
Bernstein
Maintain 'Outperform' with a TP of Rs 1,100.
Q1 marked a positive net profit, an important milestone for the business.
Profitability was achieved despite revenue staying almost unchanged quarter-on-quarter.
No one-off factors were driving the profitability this quarter.
We believe the business will remain profitable in the quarters ahead.
The sustainability of current levels of net profit will depend on sequential revenue growth.
Brokerages On M&M Finance Q1 Results
Jefferies
Maintain 'Hold'; Cut target price to Rs 296 from Rs 306.
Q1 saw a profit miss, primarily due to higher provisions.
Disbursement growth remained subdued.
Margins are improving, with benefits from rate cuts expected in second half.
Valuations appear reasonable, but clear visibility around Return on Assets (RoA) improvement remains key for a re-rating.
Macquarie
Maintain 'Underperform' with a TP of Rs 235.
The quarter was soft, with a net profit miss driven by higher credit costs, partly offset by margin improvement.
Net Interest Margin includes a one-off impact of a dividend; management guides for a credit cost of 1.7% for FY26.
Sustainable RoA is expected to remain lower than peers.
Brokerages On Colgate Palmolive India Q1 Results
JPMorgan
Maintain 'Overweight'; Cut target price to Rs 2,625 from Rs 2,750.
The company is navigating a tough first half, with expectations of a back-ended recovery in second half.
Volume growth pace should improve in the second half of the current fiscal; Ebitda margins are expected to hold out at 32-33%.
The FY26-27 Earnings Per Share (EPS) estimate has been reduced by approximately 6%, mainly due to lower revenue forecasts.
HSBC
Maintain Hold; Cut TP to Rs 2,600 from Rs 2,700.
Moderation in performance was more significant than anticipated.
Colgate expects a gradual recovery in the second half of the current fiscal.
While improvement is expected, the structural growth potential for the company remains low.
Brokerages On Dixon Tech Q1 Results
Investec
Maintain 'Buy' with a target price of Rs 20,000.
Q1 results were strong, with performance 2-4% ahead of Investec's estimates and 6-7% higher than the consensus, helping to allay concerns about competition.
Management sounded confident that mobile volumes would continue to ramp up.
With Dixon focusing on components, it is strengthening its competitive positioning and increasing customer stickiness.
Investec forecasts Ebitda and net profit CAGRs of 38% and 41% respectively over FY25-28.
They appreciate management's opportunistic approach and focus on increasing value addition without compromising on capital efficiency.
Goldman Sachs
Maintain 'Sell'; Hike TP to Rs 11,110 from Rs 11,030.
Acknowledges a good ramp-up in operations.
Maintains a "Sell" rating due to valuation concerns and an expected moderation of growth ahead.
While value addition is positive, whether it truly drives EMS customer stickiness is yet to be seen.
Sees limited potential for the company to surprise on what are already considered optimistic-looking estimates.
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