Emkay

Emkay Global Financial’ research report on PI Industries Kumiai Chemical Industry (Kumiai) has revised up its H1FY25 revenue guidance by ~9% to JPY96bn from JPY88bn, citing that net sales are expected to

Emkay Global Financial’ research report on Global Health Global Health (Medanta)’s Q4FY25 print was in line with street/our estimates. The Developing portfolio continued its healthy trajectory, as OBD grew 36% YoY (favorable

Emkay Global Financial’ research report on REC REC reported a soft quarter, with moderating growth and disbursement led by higher repayments (including prepayments) and NPA resolutions, while margin and asset quality were

Emkay Global Financial’ research report on Britannia Industries With improvement in macro trends, the management is reasonably optimistic about the sector recovery. It endeavors to attain double-digit growth ahead, and expects adjacent

Emkay Global Financial’s research report on Sonata Software Sonata posted a weak operating performance in International IT Services (IITS) in Q4. IITS revenue declined 7.2% QoQ CC, below our expectations. The decline

Emkay Global Financial’s research report on Ethos Ethos’s Q4 EBITDA is in-line, with margin up by 80bps offsetting the 6% miss on revenue. Despite this, revenue growth was a decent 23%/25% in

Emkay Global Financial’s research report on Epigral Epigral posted in-line results, with revenue/EBITDA/PAT up 20%/12%/12% YoY. This was largely led by i) improvement in ECUs in the caustic soda business and higher

Emkay Global Financial’s research report on State Bank of India SBI posted a slightly soft quarter, as credit growth moderated to 12.4% YoY due to pre-payments in the corporate book, while higher

Emkay Global Financial’s research report on Indian Bank Indian Bank reported healthy credit growth at ~11% YoY/5.3% QoQ, but NIMs retraced to 3.4% levels (similar to Q2) due to impact of recent

Emkay Global Financial’s research report on Vedanta VED reported a steady Q4FY25 with EBITDA of Rs116.2bn (+4.5% vs Emkay; +3.0% QoQ); the performance was mainly led by sequentially better profitability in its