EBITDA growth (+31% YoY) was led by 15% YoY sales growth as hospital business was up 17% YoY, led by 12% growth in ARPOB and steady occup...

Heidelberg Cement: We maintain our REDUCE rating on Heidelberg Cement (HEIM), with an unchanged target price of INR 160/share (7x Mar-26E...

Cummins: Cummins India Ltd (CIL) reported yet another exceptional quarter with revenue/EBITDA/APAT surpassing our estimates by 5/16/36%. ...

Emami 4QFY24 print was ahead of estimates on the back of a superior product mix and distribution expansion initiatives. The extended wint...

Samvardhana Motherson International: SAMIL’s Q4 revenue was marginally above our estimate, led by the modules and polymer products divisi...

EBITDA^ growth (+30% YoY) was led by +19% YoY sales growth (pharmacy was up 18% YoY and diagnostics grew 95% YoY), moderate growth in sta...

TTK Prestige: TTK Prestige (TTKPT) continues to remain impacted by a challenging demand environment (revenue grew by 3% YoY) given (1) a ...

EBITDA (+68% YoY) was led by 17% sales growth (-4% QoQ US but up 18% YoY, +10% EU, and +49% YoY in growth markets), higher gross margin (...

UNSP 4QFY24 print was broadly in line with our estimates, however, volume growth in the regular segment surprised us positively. Volume g...

Century Plyboards India: We maintain our ADD rating on Century Ply with a lower target price of INR 670/sh (35x its Mar’26E consolidated ...

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