India Midcap Healthcare: Lupin continues the growth chip

With Sales growing in India, Japan and South Africa and progress on three dfifferent molecules Lupin ended June 30 with $1.5 bln run rate for the year scoring Rs1.5 bln in Sales.

The Retail Consumption level off – Bajaj Auto Results

Rahul Bajaj, Chairman, Bajaj Auto and Member o...
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Motorcycle Sales at the Giant grew 37% for the year and the company holds $1.05 bln in Cash after growing sales for 8 consecutive quarters

Bajaj Auto stuck to its guidance and brokerage expectations scoring $1 bln and getting 20% growth. Exceptional profits of $181 mln grew its profit to $500 mln thus it has aintained volumes and not a dent to  margins despite tough inflationary conditions. the one time numbers added to the bottomline from sales tax deferrals even as DEPB benefits were withdrawn and failed to affect the bottomline Last year Q4 profits were $132 mln

Don’t buy your Mitts and retail holders yet!

MSCI Index added our favorite Mundra Port along with Dabur.  In Nov 2010 5 stocks have been added from the India story in Global indices incl PSB Canara Bank, new banking licence aspirant LIC Hsg Finance and Indusind Bank. Others were Cement majot Ultratech and Pharma mid cap Lupin. The other stocks were added to Small Cap indices and the India indices are now being updated with Shriram Transport Finance, Jubilant Foodworks, Mundra and Dabur

Anyway. with Emerging markets set for a rebound and India replete with buying opportunities, action is likely to return today itself into the world’s best capitalised and most accesssible markets in Mumbai.

We await results from Bajaj Auto (expect $1 billion sales per quarter to maintain) and ITC today. Dabur has in the meantime tomtommed its planns to diversify geographically adding units in Africa

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India Earnings Season: Another Score for YES!

Yes Bank
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 India’s crème de la crème again got a pleasant surprise per their expectations as YES Bank continued increasing its presence in retail with bigger and better CASA scores now comparable with Indusind (27% CASA) and ING Vysya Bank(with ultra retail focused franchises purchased from Vysya)

The bank scored $84 million in Net interest income, 40% higher than last Q4’s $62 million and profits have cruised to $50 million after an equally resounding growth to $35 million last year. The numbers ( NII 349 Crs and NPAT 200 Crs ) are well ahead of expectations and the bank will be key to corporates harnessing the global emerging markets and more important the big Super India – super growth storyline, still intact after recessions and slow growth demons

We’ll keep adding as details come out

It also seems ET is finally responding to competition and results from YES got a much erudite response after things have been sharply upped by us and mint (Tamal Bandhopadhya) in Banking: Here’s the ET insider

With deposit growth coming in higher as against loan growth, the credit-to-deposit ratio declined 400 bps sequentially to 75%.

However, owing to repricing of loans and hike in lending, the bank’s net interest margin ( NIM) — a measure of the difference between the costs of funds and the rate at which loans are priced — remained flat at 2.8%. Going ahead, with a low CASA ratio and the spectre of rising interest rates, there could be pressure on the bank to maintain its margins.

Currently, CASA (which is a low-cost deposit route) constitutes only 10.3% of total deposits. That may be boosted with the bank adding 65 new branches during the year.

Also as a later post suggests YES Bank detractors might like to get its borrowing rates in focus after Rabobank leaves town

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