Titan, Godrej Properties, M&M Financial Services And More Q4 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.Titan Company Ltd. - Titan’s Q4 FY22 revenue grew 4% YoY to Rs 78 billion. Jewelry (ex-bullion) declined 3% YoY (three-year compound annual growth rate for Q4 FY22: ~17%; in-line) due to Omicron-led demand disruption and gold price volatility. What was more underwhelming was the underlying jewelry profitability at ~10% (down 90 basis points YoY; our estimate: 12%).Godrej Properties Ltd. - Godrej Properties reported operationally the best-ever quarter, with presales of 4.2 million square feet (1.1%/91% YoY/QoQ) valued at Rs 32.4 billion (up 23%/up 2.1 times YoY/QoQ) with launch of nine new projects/phases in five cities contributing Rs 30 billion to sales. The average realisation was Rs 7,669 per square feet. (up 21.7%/up 10.3% YoY/QoQ). Mahindra and Mahindra Financial Services Ltd. - Mahindra Finance’s Q4 earnings were significantly ahead of our estimates due to lower-than-expected provisions. Asset quality witnessed a sharp turnaround, with stressed pool (gross stage-II plus gross stage-III) at 22% (peak of 35% in Q1) and little need for incremental provisioning on the back of steady collection and recoveries and improving economic activity..Click on the attachment to read the full report:.DISCLAIMERThis 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.

Titan, Godrej Properties, M&M Financial Services And More Q4 Reviews: HDFC Securities

Titan, Godrej Properties, M&M Financial Services And More Q4 Reviews: HDFC Securities

Choose a plan