Latest news with #Equirus
Time of India
28-05-2025
- Automotive
- Time of India
Bajaj Auto Q4 Preview: Brokerages see modest revenue growth amid single-digit volume uptick; PAT estimates mixed
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Here's what top brokerages recommended: Motilal Oswal Axis Securities Tired of too many ads? Remove Ads Yes Securities Equirus Two-wheeler major Bajaj Auto will announce its earnings on Thursday where the company is expected to report a low single-digit revenue uptick of 2-3.5% in the quarter ended March 31, 2025, according to estimates given by four brokerages. The topline range is expected between Rs 11,705 crore and Rs 11,891 crore, the estimates the net profit is pegged in the range of Rs 1,915 crore to Rs 1,993 crore. Three brokerages expect a growth up to 3% while one expects a decline of 1.1%.The estimates have been given by Motilal Oswal Financial Services (MOFSL), Axis Securities, Yes Securities and Equirus conservative revenue estimates are given by Equirus while MOFSL has the most bullish estimates among the brokerages. While Axis Securities is estimating a PAT decline, Yes sees a marginal growth while Equirus has highest net profit figures among its volumes are expected to rise in low single digits and investors should watch out for margins, volume outlook and export Auto is expected to report a PAT of Rs 1,985 crore, marking a 2.5% YoY increase and a 6% QoQ decline. The company's sales may stand at Rs 11,891 crore, likely rising up 3.5% YoY but down 7% Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) is pegged at Rs 2,375 crore, reflecting a 3% YoY growth and an 8% QoQ dip. Meanwhile, the EBITDA margin may come around 20%, down 10 bps YoY and 20 bps total volume is expected at 11,03,000 units, a 3.2% likely rise YoY but a 10% drop QoQ.'Total volumes during the quarter grew 3% YoY, supported by 3% growth in 2Ws and 5% in 3Ws. However, the increase was entirely driven by exports, which rose 19% YoY, offsetting a 7% YoY decline in domestic demand. ASP is expected to grow 3% QoQ led by improved mix, favorable currency and price increases,' MOFSL said.'We expect the impact of lower volumes (-10% QoQ) to be offset by improved mix (higher exports + higher Pulsar sales) and favorable currency QoQ. As a result, we expect margins to largely remain stable QoQ at 20%.' the brokerage company's PAT is pegged around Rs 1,915 crore, reflecting a decline of 1.1% YoY and 9.2% QoQ. The revenue may stand at Rs 11,793 crore, likely up 3% YoY but down 8% EBITDA may rise by 2.2% YoY to Rs 2,357 crore, though it declined 9% QoQ. The EBITDA margin is likely to be reported at 20% for the quarter under review, down 10 bps YoY and 17 bps may come in at 11,02,934 units, a 3.2% increase YoY but a 10% drop QoQ.'We expect total revenues to increase by 3% YoY, led by a 3% YoY increase in overall volumes and a mild decline in ASPs due to an inferior product mix. EBITDA margin is expected to decline by 10bps/17bps YoY due to Inferior Product Mix (higher entry level 2W and EVs). (PAT may vary due to accrual of PLI benefit),' this brokerage company's net profit in Q4FY25 may come at 1,938 crore, showing a marginal increase of 0.1% YoY but an 8% decline QoQ. Revenue may stand at Rs 11,831 crore, up 3% YoY yet down 8% fell sharply to Rs 2,328 crore, representing a 41% drop YoY and a 48% decline QoQ.'Overall volumes grew 3.2% YoY/-9.9% QoQ at 1.1m units, while realizations are expected to be flat YoY/+2.6% QoQ at ~Rs107.3k/unit. This should result in revenue growth of 3% YoY/-7.6% QoQ at Rs 118.3b. We expect EBITDA margins to contract 40bp YoY/-50bp QoQ at 19.7% due to higher other expenses,' Yes said in its Q4 preview PAT is seen around Rs 1,993 crore, reflecting a 3% YoY growth and 5% QoQ decline. The net sales came in at Rs 11,705 crore, up 2% YoY but down 9% EBITDA stood at Rs 2,376 crore, marking a 3% increase YoY and an 8% decline QoQ. The EBITDA margin improved to 20.3%, rising by 22 basis points YoY and 15 basis points QoQ.'Overall volumes are -10% /+ 3% QoQ/YoY while ASPs are expected to improve 1.5% qoq due to price hikes and better mix but will decline 1.3% yoy due to adverse product mix. We expect EBITDA/Vehicle to change by + 0.7%/ - 1.7% qoq/yoy due to change in ASPs,' .Key things to look for are margins, volumes outlook and outlook on export.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Economic Times
28-05-2025
- Automotive
- Economic Times
Bajaj Auto Q4 Preview: Brokerages see modest revenue growth amid single-digit volume uptick; PAT estimates mixed
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Here's what top brokerages recommended: Motilal Oswal Axis Securities Tired of too many ads? Remove Ads Yes Securities Equirus Two-wheeler major Bajaj Auto will announce its earnings on Thursday where the company is expected to report a low single-digit revenue uptick of 2-3.5% in the quarter ended March 31, 2025, according to estimates given by four brokerages. The topline range is expected between Rs 11,705 crore and Rs 11,891 crore, the estimates the net profit is pegged in the range of Rs 1,915 crore to Rs 1,993 crore. Three brokerages expect a growth up to 3% while one expects a decline of 1.1%.The estimates have been given by Motilal Oswal Financial Services (MOFSL), Axis Securities, Yes Securities and Equirus conservative revenue estimates are given by Equirus while MOFSL has the most bullish estimates among the brokerages. While Axis Securities is estimating a PAT decline, Yes sees a marginal growth while Equirus has highest net profit figures among its volumes are expected to rise in low single digits and investors should watch out for margins, volume outlook and export Auto is expected to report a PAT of Rs 1,985 crore, marking a 2.5% YoY increase and a 6% QoQ decline. The company's sales may stand at Rs 11,891 crore, likely rising up 3.5% YoY but down 7% Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) is pegged at Rs 2,375 crore, reflecting a 3% YoY growth and an 8% QoQ dip. Meanwhile, the EBITDA margin may come around 20%, down 10 bps YoY and 20 bps total volume is expected at 11,03,000 units, a 3.2% likely rise YoY but a 10% drop QoQ.'Total volumes during the quarter grew 3% YoY, supported by 3% growth in 2Ws and 5% in 3Ws. However, the increase was entirely driven by exports, which rose 19% YoY, offsetting a 7% YoY decline in domestic demand. ASP is expected to grow 3% QoQ led by improved mix, favorable currency and price increases,' MOFSL said.'We expect the impact of lower volumes (-10% QoQ) to be offset by improved mix (higher exports + higher Pulsar sales) and favorable currency QoQ. As a result, we expect margins to largely remain stable QoQ at 20%.' the brokerage company's PAT is pegged around Rs 1,915 crore, reflecting a decline of 1.1% YoY and 9.2% QoQ. The revenue may stand at Rs 11,793 crore, likely up 3% YoY but down 8% EBITDA may rise by 2.2% YoY to Rs 2,357 crore, though it declined 9% QoQ. The EBITDA margin is likely to be reported at 20% for the quarter under review, down 10 bps YoY and 17 bps may come in at 11,02,934 units, a 3.2% increase YoY but a 10% drop QoQ.'We expect total revenues to increase by 3% YoY, led by a 3% YoY increase in overall volumes and a mild decline in ASPs due to an inferior product mix. EBITDA margin is expected to decline by 10bps/17bps YoY due to Inferior Product Mix (higher entry level 2W and EVs). (PAT may vary due to accrual of PLI benefit),' this brokerage company's net profit in Q4FY25 may come at 1,938 crore, showing a marginal increase of 0.1% YoY but an 8% decline QoQ. Revenue may stand at Rs 11,831 crore, up 3% YoY yet down 8% fell sharply to Rs 2,328 crore, representing a 41% drop YoY and a 48% decline QoQ.'Overall volumes grew 3.2% YoY/-9.9% QoQ at 1.1m units, while realizations are expected to be flat YoY/+2.6% QoQ at ~Rs107.3k/unit. This should result in revenue growth of 3% YoY/-7.6% QoQ at Rs 118.3b. We expect EBITDA margins to contract 40bp YoY/-50bp QoQ at 19.7% due to higher other expenses,' Yes said in its Q4 preview PAT is seen around Rs 1,993 crore, reflecting a 3% YoY growth and 5% QoQ decline. The net sales came in at Rs 11,705 crore, up 2% YoY but down 9% EBITDA stood at Rs 2,376 crore, marking a 3% increase YoY and an 8% decline QoQ. The EBITDA margin improved to 20.3%, rising by 22 basis points YoY and 15 basis points QoQ.'Overall volumes are -10% /+ 3% QoQ/YoY while ASPs are expected to improve 1.5% qoq due to price hikes and better mix but will decline 1.3% yoy due to adverse product mix. We expect EBITDA/Vehicle to change by + 0.7%/ - 1.7% qoq/yoy due to change in ASPs,' .Key things to look for are margins, volumes outlook and outlook on export.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Time of India
20-05-2025
- Business
- Time of India
BHEL, Hyundai & more: Top stocks on brokers' radar for May 20
Equirus downgraded Protean eGovernance to sell from add, and cut its target price massively to Rs 900 from Rs 1,730 after the company disclosed that it is no longer in contention for the govt's PAN 2.0 project. Analysts said the govt had plans to overhaul PAN/TAN services under PAN 2.0 with a Rs 1,440 crore budget. Despite earlier confidence, Protean is now completely out of the running. They feel this is a material negative, as PAN services contribute ~50% of the company's revenue. They also said that the impact of the govt decision could be muted in FY26, and expect a 75-100% collapse in this revenue stream over the next 2-3 years. This segment has historically generated free cash that funded new initiatives, which is now under threat. Additional headwinds include an impending NPS pricing revision in FY27 and stagnant ONDC retail volumes. Jefferies has a hold on Divis Laboratories with the target price at Rs 6,200. Analysts said Jan-March quarterly numbers were in line with estimates. The company currently has several projects at different stages of development belonging to GLP1/2, GIP and small molecule, but does not target the generic Semaglutide opportunity. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Minas Gerais: óculos militar ganha popularidade entre 40+ Óculos Max Saiba Mais Undo The hold rating is also because of the near-term patent challenges and high valuation. Kotak Institutional Equities has a sell on BHEL with the target price at Rs 115. Analysts said the company missed its EBITDA estimates by 8%. And this was after adjusting for prior provisions that were reversed and supported by very strong industrial print that may not sustain. They feel the key disappointment was weak execution in the key power segment. CLSA has an outperform rating on Hyundai Motors India with the target price at Rs 2,155. Analysts said EBITDA margin came in at 14.1%, 200 basis points higher than the estimate led by higher-than-expected average selling price. This increase was driven by price hikes, a moderation in discounts, a rich product mix and government subsidies. Morgan Stanlet has downgraded HAL to equal weight with the target price at Rs 5,092. Analysts said margin and new order outlooks strong, but the market may be concerned about muted execution guidance. They feel risk-reward in the stock balanced, and hence it was downgraded to equal weight. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Business Upturn
19-05-2025
- Business
- Business Upturn
Protean eGov hits 20% lower circuit as it exits PAN 2.0 race
By News Desk Published on May 19, 2025, 09:30 IST Shares of Protean eGov Tech Ltd hit the 20% lower circuit at ₹1,143.20 on Monday morning, falling ₹285.70 from the previous close. The stock touched its lowest level ever, as per exchange data at 9:24 AM, following news that the company is no longer in contention for the Government of India's ₹1,440 crore PAN 2.0 project. This project, aimed at overhauling PAN/TAN services nationwide, was expected to be a key future revenue stream for the company. According to brokerage firm Equirus, the development is materially negative, as PAN-related services contribute nearly 50% of Protean's revenue. Equirus estimates a 75–100% collapse in this segment's contribution over the next 2–3 years, potentially leading to a 35% decline in FY27 overall revenue. The segment had also historically generated free cash flows that funded new initiatives — a lever now under serious threat. Additional headwinds for Protean include the upcoming NPS pricing revision in FY27 and stagnant ONDC-linked retail volumes. Equirus has downgraded the stock to Sell and sharply cut its target price to ₹900 from ₹1,730. Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors are advised to consult certified financial professionals before making any investment decisions. News desk at
Business Upturn
19-05-2025
- Business
- Business Upturn
Protean eGov in focus: Out of PAN 2.0 race, Equirus downgrades to sell
By News Desk Published on May 19, 2025, 08:00 IST Protean eGov Technologies has been eliminated from the Government of India's PAN 2.0 project, a significant blow for the company that previously expressed confidence in securing the mandate. The Rs 1,440 crore initiative aimed at overhauling PAN/TAN services will now proceed without Protean's participation. Brokerage firm Equirus has termed this development a material negative, noting that PAN-related services contribute approximately 50% of the company's revenue. Equirus expects the revenue stream from PAN services to collapse by 75–100% over the next 2–3 years, resulting in a projected 35% decline in overall revenue by FY27. The segment has also historically provided free cash flows used to fund new initiatives, now at risk. Additional concerns include a potential pricing revision in the NPS business in FY27 and stagnant ONDC retail volumes. Equirus has downgraded the stock from add to sell, slashing its target price from Rs 1,730 to Rs 900. Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors are advised to consult certified financial professionals before making any investment decisions. News desk at
