L&T, Tata Motors, Gujarat State Petronet, RBL Bank And More Q4 Reviews: HDFC Securities

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 .Larsen & Toubro Ltd. - L&T’s Q4 FY22 revenue/Ebitda/profit after tax missed our estimates by 3/12/13%. Execution normalised during the quarter. However, domestic tendering activity was brisk with order-to-tender ratio at 51% for FY22 (versus 70% in FY21). Ebitda margin, at 12.3%, was down 95 basis points YoY, affected by cost inflation and delay in claim certification in project and manufacturing business. Tata Motors Ltd. - Tata Motors’ Q4 performance was a mixed bag with India passenger vehicle business posting impressive performance while the same for Jaguar LandRover and India commercial vehicle remained lacklustre. Gujarat State Petronet Ltd. - Our optimism on Gujarat State Petronet is premised on 1. transmission volume growing at only up 2% compound annual growth rate over FY22-24E to 35 million metric standard cubic meter per day due to high spot liquefied natural gas price environment driven by geopolitical issues, low global inventories, and pick-up in demand post reopening of economies and 2. limited upside triggers in the near term.RBL Bank Ltd. - Despite a healthy net interest margin (~5%) and a positive loan growth (up 2.4% YoY), RBL Bank missed our estimates, with profit after tax at Rs 1.9 billion, due to higher credit cost (2.7%). Slippages remained elevated at 4.8% (annualised), predominantly from the micro finance institution and cards businesses..Click on the attachment to read the full report:.DISCLAIMERThis 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.

L&T, Tata Motors, Gujarat State Petronet, RBL Bank And More Q4 Reviews: HDFC Securities

L&T, Tata Motors, Gujarat State Petronet, RBL Bank And More Q4 Reviews: HDFC Securities

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