Institutional Reports01 Dec 2025
Teamlease registered a 23% CAGR in revenue over FY21-25, but EBITDA growth was limited to 9% CAGR due to EBITDA margins compressing from ...
Institutional Reports01 Dec 2025
We attended the Eureka Forbes’ Investor Day, where the company’s management highlighted that the industry is expected to grow at a 13–15%...
Institutional Reports01 Dec 2025
We visited the company’s laminate plant and its recently commissioned particle board facility located at Naidupeta, Andhra Pradesh, and i...
Institutional Reports27 Nov 2025
We maintain our BUY rating on Dalmia Bharat with a revised target price of INR 2,420/share (12x its Sep-27E consolidated EBITDA). We esti...
Institutional Reports26 Nov 2025
Tata Capital (TATACAP) is among the largest diversified NBFCs, with an AUM of INR2.4trn (Sep-25), comprising a balanced mix of retail (se...
Institutional Reports26 Nov 2025
Siemens Energy Ltd (SEL) delivered a strong quarter with revenue/EBITDA/APAT at INR 26.5/4.8/3.6bn, beating our estimates by 33.5/+16.3/+...
Institutional Reports25 Nov 2025
We are initiating coverage of Eureka Forbes Ltd with a BUY rating and a target price of INR 830 per share, valuing the stock at 45x Mar-2...
Institutional Reports21 Nov 2025
The aggregate performance of the Q2FY26 earnings season was encouraging as YoY PAT growth remained in healthy mid-single digit range, dri...
Institutional Reports21 Nov 2025
Lending financials (Weak) (Revenue/PAT growth (YoY): 5%/0% and (QoQ): 3%/1%) Lenders reported flattish PAT, slightly ahead of expectati...
Institutional Reports21 Nov 2025
Tech Mahindra (TechM) initiated a comprehensive three-year strategy six quarters ago, outlining a well-defined roadmap to achieve revenue...
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