Latest news with #PhillipCapital
Economic Times
a day ago
- Business
- Economic Times
SBI Life Q1FY26 results preview: APE may grow up to 8% YoY, VNB could surge up to 17%
SBI Life Insurance Company is set to announce its Q1 earnings on Thursday, July 24. The public sector insurer is expected to report a 2%–8% year-on-year growth in Annual Premium Equivalent (APE), which is likely to fall in the range of Rs 3,720 crore to Rs 3,936 crore. The Value of New Business (VNB) is projected to rise 2% to 17%, according to estimates from four brokerages, placing it between Rs 993 crore and Rs 1,133 crore. ADVERTISEMENT However, margins are expected to take a hit, both year-on-year and sequentially. Estimates from Axis Securities, YES Securities, Nuvama Institutional Equities, and PhillipCapital have been considered for this analysis. Brokerages suggest that investors should closely watch VNB margin trends, growth commentary, and any changes in product what each brokerage forecasts:Axis expects Gross Premium Earned to rise 13.8% YoY to Rs 17,723 crore, but fall 26.2% QoQ. New Business Premium (NBP) is estimated at Rs 7,953 crore, up 13.1% YoY but down 14.7% QoQ. ADVERTISEMENT The APE is projected at Rs 3,936 crore, up 8.1% YoY and down 27.8% QoQ. The VNB is seen at Rs 1,132 crore, a 16.7% YoY increase but 31.8% QoQ drop. VNB margin is estimated at 28.8%, expanding 195 bps YoY, but narrowing 175 bps expects SBI Life to maintain its cost leadership. Monitorables include VNB margin outlook, growth commentary, and changes in product mix. ADVERTISEMENT YES Securities forecasts an APE of Rs 3,913 crore, an 8% YoY increase but a 28% QoQ decline. NBP is expected at Rs 8,044 crore, showing 14% YoY growth, but falling 14% QoQ—indicating seasonal is likely to be Rs 1,133 crore, up 17% YoY but down 32% QoQ. The brokerage notes a VNB margin contraction of 150 bps QoQ, based on observed product mix shifts and weak growth trends in April and May 2025. ADVERTISEMENT Nuvama pegs APE at Rs 3,720 crore, up just 2% YoY, but sharply down 32% QoQ. VNB is estimated at Rs 993 crore, reflecting the same 2% YoY growth and a steep 40% QoQ drop. VNB margin is expected to remain flat YoY at 27%, but fall 12% brokerage says management commentary on growth and bank-channel distribution will be key to monitor. ADVERTISEMENT PhillipCapital expects PAT of Rs 582 crore, up 12% YoY but sharply down 28% QoQ. Revenue is seen at Rs 3,858 crore, a 6% YoY rise but 29% lower is projected at Rs 6,465 crore, up 21% YoY, but down 23% QoQ. VNB is likely at Rs 1,020 crore, up 5% YoY, yet down 39% QoQ. VNB margin is pegged at 26.4%, indicating relative stability in profitability per brokerage expects APE to grow 6% YoY, driven by modest individual business growth. It expects VNB growth in line with APE, with flat margins YoY as a lower share of ULIP gets offset by a higher mix of group business. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Mint
a day ago
- Business
- Mint
Infosys Q1 results preview: PAT, revenue may rise in single digits YoY; should you buy the stock ahead of Q1 earnings?
India's second-largest IT company Infosys is set to announce its Q1 results for the financial year 2025-26 on Wednesday, 23 July. After mixed set of numbers from other IT majors, such as TCS and HCL Tech, focus will be on deal TCVs and pipeline, management commentary on demand outlook, hiring trends, and GenAI deal wins. According to experts, the IT major is likely to post single-digit year-on-year (YoY) growth in both revenue and profit, while its sequential performance may remain subdued. According to the estimates of brokerage firm Phillip Capital, Infosys may report a 5.9 per cent YoY rise in revenue and an 8 per cent rise in profit after tax (PAT). EBITDA may increase 6.5 per cent and EBITDA margin may climb by 13bps YoY. Phillip Capital expects Infosys to report revenue growth of 1.4 per cent QoQ in constant currency (CC) terms on a weaker base of Q4, higher billing days and $15 million contribution (nearly 30bps) from recent acquisitions. Margins, according to Phillip Capital, may remain stable. Headwinds include part wage hike, normalisation of third-party costs offset by lower visa costs, said the brokerage firm. "We expect Infosys to narrow FY26 growth guidance to 1-3 per cent YoY in CC (0-3 per cent earlier). Revised guidance will include nearly 40bps contribution from recent acquisitions. We expect EBIT margins guidance to stay intact at 20-22 per cent," said Phillip Capital. Similarly, brokerage firm Motilal Oswal Financial Services expects a 5.9 per cent YoY rise in revenue and a 4.3 per cent rise in PAT. EBITDA may rise by 5.3 per cent, but EBITDA margin may decrease by 20 bps YoY. "We expect Infosys to upgrade the lower end of its guidance by 100bp to account for inorganic impact (current guide:0-3 per cent CC for FY26, estimated inorganic contribution of 80bp)," said Motilal Oswal. Experts believe Infosys remain a long-term buy due to the company's growth outlook. "We advise investors to keenly watch for Q1FY26 result of Infosys and consider investing in Infosys for a long-term view as the future outlook is promising on account of its deal pipeline, GenAI-driven transformation deals and recent acquisitions," said Rajesh Sinha, Senior Research Analyst at Bonanza. However, some technical experts indicate weakness on charts, which suggests the downtrend may continue. Infosys share price is down about 2 per cent for the current month. Shitij Gandhi, Senior Research Analyst (Technicals) at SMC Global Securities pointed out that Infosys stock has been in a sustained downtrend, trading within a declining channel and consistently staying below its key moving averages. The bearish momentum remains dominant on both daily and weekly timeframes. However, Gandhi highlighted that over the past few weeks, the stock has attempted to hold above its crucial 200-day exponential moving average (EMA), currently positioned at ₹ 1,530 on the weekly chart. Despite this, the broader trend remains negative, with strong resistance expected in the ₹ 1,600–1,700 range. "Given the prevailing structure, we anticipate the downtrend to persist, with a potential acceleration in selling pressure if the stock breaks below the ₹ 1,530 support level," said Gandhi. Similarly, Mandar Bhojane, Senior Technical & Derivative Analyst at Choice Broking, said investors should stay cautious ahead of the results and consider entering only on a breakout above key resistance levels or if the management commentary and guidance remain strong. Technically, Bhojane underscored that Infosys is currently trading in a sideways trend near ₹ 1,574. He said a decisive close above the ₹ 1,600 mark could trigger a potential rally towards ₹ 1,700. On the downside, ₹ 1,540 acts as immediate support, and any bullish reversal from that zone could offer a buy-on-dips opportunity. According to Bhojane, the next major support lies at ₹ 1,500, below which further correction may unfold. "The stock is trading below key EMAs, and the RSI is at 42.5, trending downward—indicating weakening momentum. Despite healthy volume activity, price remains range-bound, suggesting a wait-and-watch approach until a breakout occurs on either side," Bhojane said. Read all market-related news here Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
Economic Times
2 days ago
- Business
- Economic Times
Dr Reddy's Q1 Results Preview: PAT may grow up to 15% YoY, revenue to surge up to 19%
Here;s what brokerages recommended: Yes Securities Live Events Phillip Capital Nuvama Kotak Equities (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Dr Reddy's Laboratories is set to announce its Q1FY26 results on Wednesday, July 23. Brokerages project a mixed bag of earnings led by steady revenue growth, resilient domestic demand, and moderated US sales. Profit after tax (PAT) is seen in the range of Rs 1,399 crore to Rs 1,659 crore, reflecting a YoY growth between -2% and 15%. Revenue estimates hover between Rs 8,491 crore and Rs 9,094 crore, indicating a broad-based annual growth of 10–19%.The estimates of Yes Securitie, PhillipCapital, Nuvama Institutional Equities and Kotak Institutional Equities have been taken into Reddy's Q1 PAT is estimated at Rs 1,598 crore, reflecting a YoY growth of 14.8% and a marginal sequential (QoQ) uptick of 0.3%. The revenue for the quarter is pegged at Rs 8,616 crore, registering a 12% YoY increase and a 1% QoQ company's earnings before interest, tax, depreciation and amortisation (EBITDA) is expected to come in at Rs 2,229 crore. It is expected to go down by 181 bps YoY while rising by 154 bps sequentially."Revlimid trajectory would essentially determine US performance and we expect modest growth though still lower YoY as peak Revlimid sales might be behind. Gross margin had an element of one-off in Q4 to the extent of 300 bps which would reverse even as NRT consolidation implies margin would be below last year," this brokerage company's PAT is expected to grow 14% YoY and QoQ to Rs 1,659 crore in line with strong sales and operating performance. Revenue from operations may come in at Rs 9,094 crore, rising 19% YoY and 7% QoQ. Phillip Capital attributed this to the integration of Nicotinell acquisition, steady 8% growth in US sales supported by strong Revlimid (at $180 million vs $150 million last year), 11% growth in India and favorable is pegged at Rs 2,591 crore, likely up 19% YoY and a strong 21% QoQ while the EBITDA margin for the quarter could be reported at at 28.5%, expanding by 16 basis points on a YoY basis and a substantial 325 bps on a QoQ basis."Margins to remain stable at 28.5% as the price pressure in gRevlimid is compensated by favourable currency strong growth in Domestic formulation business, leading to a 19% YoY growth in EBITDA," this brokerage expects a PAT of Rs 1,399 crore in the quarter, marking a decline of 2% YoY and 12% QoQ. Revenue may stand at Rs 8,659 crore, registering a 13% increase YoY and a modest 2% rise may rise to Rs 2,255 crore, up 6% YoY and 6% QoQ."Revenue growth to be driven by growth in the India business. We expect gross/EBITDA margins to contract 340bp/130bp YoY to 57%/26.4%. We build EBITDA/PAT growth to be 8%/-1% YoY," this brokerage Equities, in its Q1FY26 preview, expects the company to report a PAT of 1,477 crore, marking a growth of 6.1% YoY and 7.3% QoQ. Net sales are projected at Rs 8,491 crore, rising 10.3% YoY but showing a slight sequential dip of 0.4%.EBITDA is estimated at Rs 2,105 crore, reflecting a marginal decline of 1.2% YoY but an increase of 1.5% QoQ. Meanwhile, the EBITDA margin is seen at 24.8%, contracting by 289 basis points YoY but improving by 46 basis points sequentially.
Time of India
2 days ago
- Business
- Time of India
Dr Reddy's Q1 Results Preview: PAT may grow up to 15% YoY, revenue to surge up to 19%
Dr Reddy's Q1FY26 earnings are expected to show steady revenue growth and resilient domestic demand, with mixed profit estimates ranging from a 2% decline to 15% growth. US performance may be tempered by lower Revlimid sales, while domestic strength continues to support margins. Tired of too many ads? Remove Ads Here;s what brokerages recommended: Yes Securities Tired of too many ads? Remove Ads Phillip Capital Nuvama Kotak Equities Tired of too many ads? Remove Ads Dr Reddy's Laboratories is set to announce its Q1FY26 results on Wednesday, July 23. Brokerages project a mixed bag of earnings led by steady revenue growth, resilient domestic demand, and moderated US sales. Profit after tax (PAT) is seen in the range of Rs 1,399 crore to Rs 1,659 crore, reflecting a YoY growth between -2% and 15%. Revenue estimates hover between Rs 8,491 crore and Rs 9,094 crore, indicating a broad-based annual growth of 10–19%.The estimates of Yes Securitie, PhillipCapital, Nuvama Institutional Equities and Kotak Institutional Equities have been taken into Reddy's Q1 PAT is estimated at Rs 1,598 crore, reflecting a YoY growth of 14.8% and a marginal sequential (QoQ) uptick of 0.3%. The revenue for the quarter is pegged at Rs 8,616 crore, registering a 12% YoY increase and a 1% QoQ company's earnings before interest, tax, depreciation and amortisation (EBITDA) is expected to come in at Rs 2,229 crore. It is expected to go down by 181 bps YoY while rising by 154 bps sequentially."Revlimid trajectory would essentially determine US performance and we expect modest growth though still lower YoY as peak Revlimid sales might be behind. Gross margin had an element of one-off in Q4 to the extent of 300 bps which would reverse even as NRT consolidation implies margin would be below last year," this brokerage company's PAT is expected to grow 14% YoY and QoQ to Rs 1,659 crore in line with strong sales and operating performance. Revenue from operations may come in at Rs 9,094 crore, rising 19% YoY and 7% QoQ. Phillip Capital attributed this to the integration of Nicotinell acquisition, steady 8% growth in US sales supported by strong Revlimid (at $180 million vs $150 million last year), 11% growth in India and favorable is pegged at Rs 2,591 crore, likely up 19% YoY and a strong 21% QoQ while the EBITDA margin for the quarter could be reported at at 28.5%, expanding by 16 basis points on a YoY basis and a substantial 325 bps on a QoQ basis."Margins to remain stable at 28.5% as the price pressure in gRevlimid is compensated by favourable currency strong growth in Domestic formulation business, leading to a 19% YoY growth in EBITDA," this brokerage expects a PAT of Rs 1,399 crore in the quarter, marking a decline of 2% YoY and 12% QoQ. Revenue may stand at Rs 8,659 crore, registering a 13% increase YoY and a modest 2% rise may rise to Rs 2,255 crore, up 6% YoY and 6% QoQ."Revenue growth to be driven by growth in the India business. We expect gross/EBITDA margins to contract 340bp/130bp YoY to 57%/26.4%. We build EBITDA/PAT growth to be 8%/-1% YoY," this brokerage Equities, in its Q1FY26 preview, expects the company to report a PAT of 1,477 crore, marking a growth of 6.1% YoY and 7.3% QoQ. Net sales are projected at Rs 8,491 crore, rising 10.3% YoY but showing a slight sequential dip of 0.4%.EBITDA is estimated at Rs 2,105 crore, reflecting a marginal decline of 1.2% YoY but an increase of 1.5% QoQ. Meanwhile, the EBITDA margin is seen at 24.8%, contracting by 289 basis points YoY but improving by 46 basis points sequentially.
Economic Times
2 days ago
- Business
- Economic Times
Bajaj Housing Finance Q1 preview: PAT may jump up to 21% YoY, NII to surge up to 28%
Bajaj Housing Finance is set to announce its Q1 earnings on Wednesday, with the company expected to report strong double-digit year-on-year growth in net profit. Profit after tax (PAT) is estimated to rise 19%–21% year-on-year to Rs 574–584 crore in the April–June quarter, according to estimates by Kotak Institutional Equities and PhillipCapital. ADVERTISEMENT The Bajaj Finance-promoted company is also likely to report 24%–28% year-on-year growth in net interest income (NII), placing the topline between Rs 827 crore and Rs 851 crore. Kotak estimates the company's PAT at Rs 574 crore for the quarter, a 19% YoY increase and a 2.1% sequential rise. NII is projected at Rs 827 crore, up 24.4% YoY and 0.5% QoQ. Pre-provision operating profit (PPoP) may stand at Rs 767 crore, rising 19.8% YoY and 2.3% interest margin (NIM) is expected at 3.2%, marginally down by 1 basis point YoY and 15 basis points QoQ. ADVERTISEMENT Provisions are likely at Rs 29 crore, showing a sharp 192.7% YoY rise, but declining 0.7% its preview note, Kotak said, 'Bajaj Housing reported 5% QoQ AUM growth in Q1FY26, lower than the 5.6%–6.2% growth seen in the previous four quarters. NIM will likely compress 14 bps QoQ to 3.2% as lending rate cuts are only partially offset by benefits on the liabilities side. Around 30% of borrowings are linked to EBLR.' ADVERTISEMENT Operating expense growth is expected to remain moderate at 9% YoY, resulting in a 9 bps YoY decline in the cost-to-AAUM ratio to 0.6% in Q1FY26E. 'We estimate a credit cost of 10 bps (vs. 11 bps in Q4FY25 and 13 bps in Q3FY25),' Kotak expects PAT to grow 21.1% YoY to Rs 584 crore, while declining marginally by 0.4% QoQ. Revenue for the quarter is estimated at Rs 851 crore, up 28% YoY and 3.4% QoQ. ADVERTISEMENT EBITDA is seen at Rs 810 crore, up 26.6% YoY and 8.2% QoQ, driven by operating leverage and improved for the period is pegged at 2.89%, an improvement of 7 basis points YoY, but down 6 basis points QoQ. ADVERTISEMENT 'We expect AUM to grow over 25% YoY, with credit costs remaining benign,' PhillipCapital said. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
