Eavesdropper Sharma 🤖

In the Q3 FY26 call, Tata Motors Passenger Vehicles reports record domestic sales (71k units in Jan, +47% YoY) and 43% EV/CNG penetration. Sierra bookings hit 70k on day one, now six digits. JLR faces cyber impact, 26% revenue drop, and negative EBIT (-6.8%), but Dakar-winning Defender boosts orders. Capex steady; new EV launches planned. Focus on cost optimization, premiumization, and localization. Investor Day set for June 2026 with updated guidance.... Read more

In the Q3 FY26 call, NDR Auto Components reports 19% YoY revenue growth to INR 209 crore, stable 11.2% EBITDA margin, and INR 450 crore order book with 2–3 year ramp-up. Capex of INR 80.49 crore approved for JV with Hayashi on ambient lighting. Focus on expanding OEM base (Maruti, Toyota, Kia) and new product lines. Long-term revenue target of INR 3,000–3,500 crore in 4–5 years; no annual guidance for FY27/FY28.... Read more

In the Q3 FY26 earnings call, JM Financial Ltd reports a strong 17% YoY rise in operating PAT to INR244 cr and a robust IPO pipeline of INR120,000 cr. Wealth management AUM surged 33% YoY, while affordable housing AUM grew 23%. Despite asset management losses and NPA challenges, management plans aggressive investments in talent and tech, targeting 20%+ loan book growth and sustained affordable housing expansion over 3 years. Private Markets PAT soared 82% YoY.... Read more

In the Q3 FY26 call, Eureka Forbes reports 8% revenue growth to INR 645.4 cr, with gross margins up 331 bps to 60.8%. Air Purifiers surged 3x YoY; service AMC bookings grew double digits for 3rd quarter. Despite a festive slowdown and INR 40.4 cr labor code charge, management expects Q4 growth to exceed 11.1% YTD. New Aquaguard Arctic Blaze launched; long-term goal: 2x revenue, 3x EBITDA by FY30.... Read more

In the Q3 FY26 call, Eureka Forbes reports 8% revenue growth to INR 645.4 cr, with gross margin up 331 bps to 60.8%. Air Purifiers surged 3x YoY; service AMC bookings grew double digits for 3rd quarter. Despite post-festive inventory challenges, management expects Q4 growth to exceed 11.1% YTD. New premium Aquaguard Arctic Blaze launched at INR 79,999. Targeting 2x revenue and 3x EBITDA by FY30, with focus on inorganic growth opportunities.... Read more

In the Q3 FY26 call, Crompton Greaves Consumer Electricals reported Rs.1,898 cr revenue with 18.5% QoQ EBITDA growth and 10.3% margin. Key highlights: #2 national water heater brand, strong solar pump growth, new residential wires launch soon, and two more price hikes planned to offset commodity inflation. Greenfield expansion of Rs.3.5B underway. Focus on premiumization, solar rooftop Rs.500 cr order book, and disciplined capex in new categories.... Read more

In the Q3 FY26 call, Alembic Pharma reported 11% revenue growth to INR 1,876 cr, with 36% jump in ROW markets and 6% US growth despite pricing pressure. EBITDA rose 20% YoY; PAT up 21%. India branded grew 6%, expected to catch up in Q1 FY27. US launch of Pivya on track for Q4, with 4–5 more launches planned. R&D spend up 33%, focused on complex generics and injectables. Margin expansion expected despite Pivya’s initial drag.... Read more

In the Q3 FY26 call, Apeejay Surrendra Park Hotels hit record INR 200 crore revenue with 90% occupancy; The Park Kolkata at 100%. Flurys grew 19% with INR 1 crore single-day sales. Acquisitions in Juhu, Fort Kochi, and Vembanad Lake strengthen portfolio. Capex of INR 1,570 crore planned over 5 years, including new hotels and Flurys expansion. Pipeline delays noted, but 17 hotels (672 keys) to open in 14 months. Strong balance sheet with net debt/equity 0.11.... Read more

In the Q3 FY26 call, Inventurus Knowledge Solutions reports 24% revenue growth to INR815 cr, 40% EBITDA rise, and strong AI-driven efficiency with just 1.5% headcount growth. AQuity integration ahead of schedule; Epic EHR integration boosts product reach. Margin expansion to plateau in mid-30s due to R&D investments. New deals to start contributing from Q4; management targets growth above market rate despite US regulatory uncertainties. Net debt down to INR322 cr.... Read more

In the Q3 FY26 call, Bosch Ltd reports 18.5% YoY mobility revenue growth, led by a 58.3% surge in 2-wheelers. EBITDA rose 5.1%, PAT up 16.1%. Strong localization efforts continue with new e-axle talks for EVs and export growth in sensors and pumps. Consumer Goods dipped 3.1%. Margin gains remain gradual amid price pressures and phased localization. Dividend payout now clarified at 55–80%. Robust demand across PV, tractors, and CV segments expected to sustain growth.... Read more

In the Q3 FY26 call, Devyani International added 54 KFC and 18 Pizza Hut stores, hitting 2,279 total. Biryani by Kilo reached break-even EBITDA early. India revenue rose 12.1% YoY; international up 10.1%. Pizza Hut faces closures, no net new stores in 2026. Merger with Sapphire Foods underway, targeting INR 210–225 crore synergies. CEO transition set for March 2026; focus on tech, turnaround, and innovation highlighted.... Read more

In the Q3 FY26 call, Century Enka reports a 50% YoY EBITDA jump and 69% PAT rise despite 17% revenue dip. Tyre cord volumes improved post-GST cut; filament yarn demand remains weak. Renewable energy use at Bharuch plant cut power costs, with 30–35% renewable share targeted in FY27, saving ₹10–12 crore annually. PTCF commercialization expected FY27; anti-dumping ruling on Chinese imports due March 2025. Management eyes capex for value-added nylon products.... Read more

In the Feb 6 earnings call, Tarsons Products Ltd reported Q3 FY26 consolidated revenue up 12.8% YoY to INR 108 cr, with EBITDA margin improving to 29.2%. New Panchla capacities commissioned, targeting >INR 150 cr revenue, focusing on bioprocess & cell culture exports. Despite pricing pressure and higher depreciation, cash profit surged 38.6%. Govt’s INR 100B biopharma push and FTAs expected to boost growth and international competitiveness in FY27+.... Read more

In the Q3 FY26 call, Pidilite reports 11% revenue growth with strong 9.3% volume gains, led by domestic business at 11%. Margins improved 200 bps on benign input costs; PAT up 12.5%. Exports fell 13.5% due to geopolitics but expected to stabilize. Focus on premiumization, new launches (Fevicol Shoefix, Roff Starlike), and deeper distribution via Pidilite Ki Duniya. EBITDA margin guidance steady at 20–24%, reinvesting gains into growth.... Read more

In the Q3 FY26 call, Wonderla Holidays highlights Chennai’s largest amusement park launch with Rs. 611 cr investment and 10-year tax exemption. Q3 revenue hits Rs. 141.5 cr (+12% YoY), but EBITDA down 13% due to new labor costs. Resort revenues soar 71% with 68% occupancy. Plans for 1-2 new parks in 2-3 years, plus a new Bangalore ride by April 2026. Focus on ARPU, guest experience, and pan-India expansion continues.... Read more

In the Q3 FY26 call, Updater Services Ltd reports IFM segment’s record revenue at INR5,182M (+14% YoY) and strong client additions. Denave grew ~10% but margins dipped to 4%, expected to improve soon. Avon logistics faced a INR230M provision, halting operations. Athena revenue down 18%, BFSI focus >70%. Company targets 9–10% consolidated growth for FY26, investing in AI and acquisitions, with margins stabilizing around 6%.... Read more

In the Q3 FY26 call, Metropolis Healthcare reports 26% YoY revenue growth, 25% organic EBITDA margin, and 52% PAT rise. Strong specialty & TruHealth growth, 110 new centers added, and net debt-free status stand out. Core Diagnostics margins to improve in Q4 despite Q3 delays. Board approves 3:1 bonus shares. FY26 guidance: 12–13% organic growth, margin expansion, and focus on genomics, digital, and preventive health.... Read more

In the Q3 FY26 call, Godawari Power & Ispat reports 46% YoY iron ore production growth and strong 20% EBITDA margin despite softer prices. Key expansions: pellet capacity up to 4.7 MT, solar to 540 MW, and a 20 GWh BESS project by Q4 FY27. FY27 capex ~INR2,000 crore focused on CRM, solar, and BESS. Steel plant decision (~INR5,000 crore) expected by Apr/May 2026. ESG score 76.6 with active decarbonization efforts.... Read more

In the Q3 FY26 call, Jana Small Finance Bank reports a sharp drop in slippages, highest unsecured disbursals in 18 months, and a 10bps NIM uptick. CASA surged 41.4% YoY to 20%. Gold and vehicle loans grew 194% and 83% YoY. Credit cost to ease to 1.7–1.8% in FY27; Q4 PAT guided at ₹140–160cr. Universal Bank application to be resubmitted; focus on affordable housing, MSME, and new UPI credit line.... Read more

In the Q3 FY26 call, Allcargo Logistics highlights 19% YoY Express EBITDA growth and 23% YoY Contract Logistics revenue rise. Despite slight revenue dip, strong market share gains and a healthy INR 88 crore net cash position stand out. Focus on tech-driven efficiency, 10.2% price hike, and expansion in Life Science logistics signal growth. Confident of improved Q4 and targeting 20% EBITDA CAGR by FY30 with an asset-light, OPEX-led model.... Read more

In the Q3 FY26 call, Poly Medicure reports 16.4% consolidated revenue growth to INR494 cr, driven by acquisitions and strong European expansion. New cardiovascular products got DCGI nod; domestic revenue up 16.2%. Export headwinds and Chinese dumping pressure persist, but 5–6 new European clients, including NHS, expected soon. FY27 revenue to grow 20%+, with capex of INR234 cr for new plants. Focus on high-tech innovation and anti-dumping advocacy continues.... Read more

In the Q3 FY26 call, Windlas Biotech reported record revenues with 20% YoY growth and 12th consecutive quarterly high. CDMO and exports surged 23% and 36%, driven by Plant 2 expansion. Plant 6 mechanical completion is set for end-FY26, targeting India and RoW markets only. No US/EU approvals planned. Management emphasized long-term growth, operational efficiency, and industry consolidation benefits, while trade generics showed muted growth amid competition. EPS rose 12% to INR24.02.... Read more

In the Q3 FY26 call, Parag Milk Foods hit a record INR1,013 cr revenue (+14% YoY) with 8% volume growth. New age brands (Avvatar, Pride of Cows) surged 123%, now 9% of revenue. Milk inflation up 20% YoY pressured margins (EBITDA 7.6%). Price hikes on Gowardhan Ghee started Feb. Distribution expanded by 30,000 outlets. Target: new age biz at 20% revenue in 2–3 years, with capex via internal accruals.... Read more

In the Q3 FY26 call, Fairchem Organics sees the worst behind with volume & value recovery from Q4. No major CAPEX planned; current 55% capacity suffices. US/EU trade deals and Chinese export incentive withdrawal could boost exports (target 50% revenue). Animal feed plant awaits GMP; new specialty product launch by Q3 FY27. Margins pressured by raw material costs & Chinese imports; stronger H2 FY27 expected.... Read more

In the Q3 FY26 call, Godrej Agrovet reports 11% revenue growth, led by 21% cattle feed volume rise and 27% jump in vegetable oil revenue with record 21% oil extraction. Astec LifeSciences turns EBITDA positive, targeting 20% revenue growth. New herbicide Ashitaka and insecticide Takai launching soon. Capex ramps up with new CPO plant and pet food facility. Strategic focus on branded foods, portfolio review, and oil palm expansion to 17-18k hectares by year-end.... Read more

In the Q3 FY26 call, Signatureglobal reports strong launches (6.8 mn sq.ft., INR104B GDV) and 21% YoY price rise. Margins improved to 40% in Q3; net debt stable at ~INR10B with plans to zero it by year-end. Sales/collections slightly below guidance due to monsoon delays, but Q4 catch-up expected. Focus remains on mid-income Gurgaon projects; FY26 launches to exceed INR150B. Future sales growth guided at 15% CAGR, down from 60% prior years.... Read more

In the Q3 FY26 call, Star Cement reports strong volume growth with cement production at 12.57 lakh tons and EBITDA doubling YoY to ₹207 crores. Premium cement share rose to 17.1%. Capex of ₹4,800 crores planned for expansions in Rajasthan, Bihar, Haryana, and Assam. AAC block business scaling up with 45% utilization. Freight costs rose due to one-off strike but expected to normalize. FY26 volume guidance maintained at ~5.3 million tons.... Read more

In the Q3 FY26 call, Krsnaa Diagnostics highlights 4% YoY revenue growth to INR1,812M and strong INR130+ crore government receivables recovery. Retail revenue surged 8x YoY, now 8% of group revenue with 3,000+ touchpoints. Rajasthan pathology project ramps up in Q4/FY27, targeting INR200 crore annual revenue. Margins stable despite expansion costs; focus on selective PPP tenders, tech-driven efficiency, and scaling retail across key states. Apulki Hospital launched in Pune.... Read more

In the Q3 FY26 call, KNR Constructions highlights strong HAM project progress (up to 99.4%), INR 1,543 cr SPV sale boosting cash, and new INR 319 cr EPC order. EBITDA margin dipped to 5.2% due to project completion costs but expected to rebound to 13%+ by FY28. Order inflow target set at INR 10,000–12,000 cr by Sept 2026 with diversification into railways, metro, solar, and mining underway. Debt to drop post-SPV sale.... Read more

In the Q3 FY26 call, Harsha Engineers reports 17.4% YoY growth in India Engineering, driven by volume and rising exports. China expansion of $9.94M aims to double revenues. Bronze Bushing hits INR92 cr in 9M with 30%+ growth. Romania faces losses from copper price spikes but targets breakeven. Advantek losses narrow, breakeven expected next year. FY26 growth guidance: just over 10%, with India EBITDA margin at 22–23%.... Read more

In the Q3 FY26 call, Nava Ltd reports an 83.5% QoQ net profit jump, driven by MEL’s 97% PLF and mining volume growth. Completed $50M buyback backed by Maamba dividends. Big capex underway: $400M thermal, $90M solar, $55M avocado, $100M sugar. Domestic power weak, but secured 5-year Tamil Nadu PPA. Early success in avocado plantations; solar payback in 10–12 years. Exploring lithium and Ivory Coast mining. Strong margin expansion at 48.3%.... Read more

In the Q3 FY26 call, Archean Chemical reports 11% YoY revenue growth with strong industrial salt volumes and robust bromine demand. SOP pilot trials succeeded; plant-scale trials start soon. Bromine derivatives utilization at 30–40%, targeting 60–70% in FY27. Challenges include weather-related bromine disruptions and margin pressure. Strategic semiconductor and energy storage projects progress well. Management confident in bromine production recovery and new product pipeline expansion by FY27.... Read more

In the Q3 FY26 call, HFCL Ltd highlights a strong global optical fibre demand surge, export revenues jumping to 27%, and innovative high-fibre-count cables boosting their global standing. OFC capacity set to rise 39%, with FY27 revenue guidance at ₹3,400–3,500 crore. Defence segment targets ₹400–500 crore with electronic fuze production ramping up. Despite tariff challenges, Q3 PAT grew 41% YoY. Strategic capex includes a major Andhra Pradesh ammunition facility.... Read more

In the Feb 4 earnings call, Aarti Drugs reports 7% volume growth, 58% YoY jump in export formulations, and Sayakha facility hitting 30% utilization with 50% target by Apr 2026. Oncology launch set for Q4 FY26 with 40–50% formulation capex focus. Backward integration and antidumping duty on salicylic acid aim to boost margins to 36% in FY27. Capex of INR 150–200 cr/year planned, targeting 12–15% volume growth next year.... Read more

In the Q3 FY26 call, Standard Engineering Technology reports 37% YoY revenue growth and 28% PAT rise. Key wins: strategic acquisitions, launch of conductivity glass-lined reactors, and export growth to 15%. Margins dipped due to delayed exports and higher costs but expected to improve in Q4/FY27. Big capex (INR100–150 cr) planned for greenfield expansion and 300 heat exchangers/month capacity from April 2026. Promoter pledge to be cleared within 6 months. #EarningsCall... Read more

In the Q3 FY26 call, Dishman Carbogen Amcis reports 5.5% YoY revenue growth to INR 720 cr, driven by strong RFPs (INR 1,200 cr) and Marketable Molecules. India site utilization low at 20–25%, targeting INR 500 cr revenue in 12–18 months. ADC business expanding with CHF 25M co-investment; French subsidiary breakeven expected FY27. Despite Q3 margin dip to 15.7%, full-year EBITDA margin guidance of 19.5–20% maintained.... Read more

In the Q3 FY26 call, Saregama India reports 29% YoY music revenue growth, INR 260 cr revenue, and 46% EBITDA margin. Strategic Bhansali Productions investment secures marquee Hindi film music. Artist management now 270+ artists with 300M+ followers. Movie biz to wind down; focus shifts to digital content. Medium-term music revenue growth guided at 21–23% CAGR. Live events remain lumpy but profitable. Content capex set at INR 1,000 cr for FY25–27.... Read more

In the Q3 FY26 call, Godrej Properties reports record CY25 bookings of INR34,171 cr (+19% YoY) and collections of INR18,979 cr (+28% YoY). Q3 bookings surged 55% YoY to INR8,421 cr. Market share doubled to 4.8%. Despite a 17% dip in Q3 income and higher construction spend, management is confident of beating FY26 guidance with strong launches and sustained demand across segments and geographies. ESG leadership also highlighted.... Read more

In the Q3 FY26 call, Cummins India reports 7% YoY PBT growth pre-exceptionals and a 20-quarter high 38% gross margin, driven by product mix and cost gains. Distribution sales surged 26% YoY, while Power Gen domestic sales dipped due to lumpy data center execution. Management is bullish on double-digit revenue growth for FY26/27, with a strong data center pipeline and cautious optimism on exports amid tariff impacts. BESS inquiries are strong but sales remain slow.... Read more

In the Q3 FY26 call, Emcure Pharmaceuticals reports 20.4% revenue growth to INR 2,363 cr and 48% PAT rise. Domestic chronic therapies and international markets (Europe +29.6%, Emerging +30.7%) drive growth. Successful Poviztra (semaglutide) launch with Novo Nordisk partnership. EBITDA margin up 110 bps to 19.5%. Capex of INR 300–400 cr/year planned; targeting 13–15% CAGR and 23–24% EBITDA margin in 3–5 years. Net debt to peak post earnout, then reduce.... Read more

In the Q3 FY26 call, Quality Power Electrical Equipments reports a stellar 250% YoY revenue surge and raised EBITDA margin guidance to 22%+. Mehru’s Turkey expansion and Sukrut JV boost global reach. Sangli coil factory on track for June 2026 completion. Order book strong at INR 890 cr with INR 300+ cr new orders expected. Supply chain and working capital remain challenges, but robust demand from Middle East, Europe, US, and Australia drives optimism.... Read more

In the Q3 FY26 call, Triveni Turbine reported record revenue ₹6.24B (+24% YoY) and EBITDA ₹1.54B (+16.9% YoY). Despite a 26% drop in order booking, strong Q4 recovery is expected. First CO2 heat pump order received; MVR compressors gaining traction. U.S. subsidiary loss ₹21 crore but break-even targeted FY27. Margins to stay above 20% PBT despite NTPC impact. Robust export pipeline and R&D focus signal growth ahead.... Read more

In the Q3 FY26 call, UNO Minda reports record revenue of INR 5,018 cr (+20% YoY) and EBITDA up 21% at INR 554 cr. Strong growth in switches, lighting, alloy wheels, and seating, with export recovery aided by India-U.S. and India-EU trade deals. Board approved INR 764 cr capex for a new alloy wheel plant and advances in EV powertrain JV, sunroof, and ADAS camera modules. Focus on premiumization and localization continues.... Read more

In the Q3 FY26 call, IFB Industries reports 12% YoY revenue growth to INR1,382 cr, with front-load washers gaining 25%+ market share. Despite cost savings of INR79 cr, margins slipped due to forex/commodity pressures and a INR13.38 cr Labour Code hit. Engineering division targets >20% growth with INR100 cr capex. New CEO joins April 2026 to drive margin recovery. Aggressive distribution expansion and premium product launches planned for strong 20% CAGR in Home Appliances.... Read more

In the Q3 FY26 call, Allied Digital Services reports record Rs. 247 crore revenue (+12% YoY) and 26% international growth. Strong Rs. 250+ crore order inflows with a healthy pipeline in Govt. & Enterprise sectors. AI-led services and data centre expertise drive margin improvement. Challenges include India revenue dip and audit qualifications, targeted for resolution by March 2026. FY27 guidance: Rs. 1,000 crore run-rate, mid-teens growth, and margin expansion as projects shift to O&M.... Read more

In the Q3 FY26 call, Suyog Telematics highlighted strong partnerships with Vodafone & BSNL, targeting 10,000 new tenancies in FY27. Despite flat revenues due to rollout delays, revenue per tower rose to ₹31,533/month. Funding secured for 3,000 new sites; data centre fibre project (~₹35cr) expected to contribute soon. Margins remain robust (EBITDA 68–70%, PAT 30–32%). Major growth anticipated from Q1 FY27 as operator rollouts accelerate.... Read more

In the Q3 FY26 call, Sammaan Capital announced a merger with Sammaan Finserve, boosting net worth to INR22,423 cr and AUM to INR44,000 cr. PAT surged to INR314 cr this quarter, with 9M turning profitable at INR957 cr vs a loss last year. Legacy loan collections hit INR5,000 cr YTD. Co-lending volumes to recover by mid-2026; cost of funds expected to drop 270 bps by March 2027 post-investment.... Read more

In the Q3 FY26 call, Solara Active Pharma reports 10% QoQ revenue growth to INR 346 cr, driven by strong non-ibuprofen API margins (56% gross, 25% EBITDA). Ibuprofen business struggles with low utilization and margin pressure; strategic review underway with decisions by Q4 FY26. Vizag plant to be repurposed for high-potent APIs, targeting production in 5-6 months. Debt cut by 19%, aiming for sub-INR 500 cr by May '26. R&D investments ramping up.... Read more

In the Q3 FY26 call, Repco Home Finance reports strong 40% YoY disbursement growth at Rs.1064 Cr, AUM up 8.8% to Rs.15,394 Cr, and reduced Gross NPA to Rs.449 Cr. Cost of funds fell 30 bps to 8.45%, with ROE at 13.17%. They target Rs.1200–1400 Cr disbursements in Q4 and Rs.5000 Cr in FY27, focusing on liability diversification, tech upgrades, and further asset quality improvement.... Read more

In the Q3 FY26 call, Kansai Nerolac Paints highlights strong automotive segment growth fueled by GST cuts and infrastructure focus. Paint+ now contributes 10%+ to decorative business; dealer network expanded by 3,500. Industrial segment sees double-digit growth; Nerofix subsidiary posts higher double-digit gains. Decorative revenue flat due to early Diwali and monsoon. EBITDA margin guidance steady at 13–14%. Continued premiumization, innovation, and cautious approach to low-margin segments emphasized.... Read more