ADVERTISEMENT

Torrent Power, Indraprastha Gas, City Union Bank, Zensar Tech, Deccan Cements Q1 Reviews: HDFC Securities

Torrent Power, Indraprastha Gas, City Union Bank, Zensar Tech, Deccan Cements Q1 Reviews: HDFC Securities

<div class="paragraphs"><p>Stock chart, graphs displayed on a monitor. (Source: Unsplash</p></div>
Stock chart, graphs displayed on a monitor. (Source: Unsplash

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

Torrent Power Ltd. - Torrent Power’s Q1 FY23 adjusted profit after tax grew 101.6% YoY to Rs 5 billion, led by gain from sturdy sale of liquefied natural gas as elevated prices of LNG made its commercial sale more favorable than generating electricity; reduction in transmission and distribution losses, improved volume, and realisation across franchisee distribution segment.

Indraprastha Gas Ltd. - IGL's Q1 FY23 Ebitda was at Rs 6.2 billion, while adjusted profit after tax at Rs 4.2 billion came in above our estimates, owing to better realisation and lower-than-expected raw material cost.

City Union Bank Ltd . - City Union Bank’s Q1 FY23 earnings beat our estimates on the back of higher recoveries from written-off accounts, lack of treasury drag, and lower-than-expected credit costs (1.6% annualised).

Zensar Technologies Ltd. - Zensar has disappointed on the margin front (the ~300 basis points QoQ decline was more than expected), while revenue growth of 3.1% QoQ constant currency was a positive.

Deccan Cements Ltd. - Deccan Cements reported mixed performance in Q1 FY22. While utilisation remain subdued, cost controls drove up unitary Ebitda 40% QoQ to a healthy Rs 798 per million tonne (in a tough environment).

Click on the attachment to read the full report:

HDFC Securities Institutional Equities Q1FY23 Result Reviews 100822.pdf

DISCLAIMER

This 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.