CLSA on Samvardhana Motherson Outperform, Target Price Raised to Rs 217 2QFY27 Ebitda margin came in at 8.7% (flattish QoQ) & in line Revenue grew c.27% YoY, supported by consolidation of two acquisitions, larger one being in PV wiring harness space Believe that gradual ramp-up in the non-auto businesses, especially in consumer electronics, will drive organic growth at a c.12% Cagr over FY27-29CL, alongside continued steady execution in auto segments. Over and above this, see scope for inorganic growth, considering leverage ratio (net debt/Ebitda) being at 0.5x (FY28CL) vs SAMIL being comfortable until 2.5x level
\n\nUpgrade to Buy, Target Price raised to Rs 6,000 Titan delivered a strong 2Q despite gold-price volatility & festive shift, with record-high reported jewellery margin & >20% domestic rev growth. International performance was bolstered by acquisitions, and LFL growth was strong. Mgmt intends to focus on top-line growth with an eye on mkt share, which think is just what a leader should be doing, while retaining its c.11% jewellery margin guidance.
\n\nOutperform, Target Price raised to Rs 2,765
\n\n2QFY27 consolidated revenue/Ebitda of Rs609bn/Rs349bn were up 4%-5% QoQ/17%-18% YoY, ahead of estimates with positive surprise led by its India and Africa operations.
\n\nIndia mobile revenue/Ebitda were…
Original source: https://www.cnbctv18.com/entertainment/
