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IDBI Capital Report
Surya Roshni, Ddev Plastiks Industries, Harsha Engineers International and BLS International are in focus after IDBI Capital reviewed their Q1 FY27 earnings.
The brokerage retained Hold on Surya Roshni with a target price of Rs 225, downgraded Ddev Plastiks to Hold from Buy with a target price of Rs 320, maintained Buy on Harsha Engineers with a target price of Rs 527, and retained Buy on BLS International with a target price of Rs 330.
Surya Roshni: HOLD, TP Rs 225
IDBI Capital said Surya Roshni's Q1 FY27 performance was mixed. Revenue rose 28% YoY to Rs 2,050 crore, helped by 32% growth in the steel pipes and strips business and 15% growth in the lighting and consumer durables segment.
Consolidated Ebitda margin improved by 113 basis points to 5.5%. Steel pipes Ebitda per tonne climbed 37% to Rs 4,006, supported by better realisations, product mix and operating leverage.
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