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Another domestic brokerage firm Nirmal Bang Institutional Equities has cut its revenue and EBITDA estimates for the next three fiscals due to near-term slowdown in growth, owing to cost inflation and volume decline in the US.

The Board has approved the appointment of Malathi Sundararajan, Executive Director (F&A) as the Chief Risk Officer (CRO) with effect from January 1, 2023, till the date of her superannuation -- November 30, 2024, in place of Vijay Kumar.

Kaveri Seed is a smallcap company with a market capitalization of Rs 2,810 crore. Established in the year 1976, Kaveri Seed is the country’s largest agricultural company specializing in hybrid seeds in major Indian crops.

“The slippages or the asset quality data for most of the banks that have reported so far, has been lower than the trend levels and that has been quite strong. The confluence of stronger credit growth, improvement in margins as well as strong asset quality outlook has led to very strong profitability for most of the private sector banks. ”

The brokerage further said that Titan has been the standout performer among all of its consumer peers, in terms of revenue, earnings, as well as stock price performance over the past five years. For a company of its size, sales of Rs 366 billion (USD4.6b) in FY23E and the 20% revenue and earnings CAGR are extremely impressive.

“The fulcrum of the focus has shifted to the domestic market and I think one concern is possibly valuations and that is something that the market would have to deal with. In general, when the cost of capital goes up, it is the highly valued expensive sectors that tend to suffer most. Pharma is one sector that has suffered on that count, consumer staples could be another one.”

The board of directors of Dabur India declared an interim dividend of 250% for 2022-23. "Continuing with our payout policy, the board has declared an interim dividend of Rs 2.50 per share, aggregating to a total payout of Rs 442.94 crore," Dabur India Chairman, Mohit Burman said.

The total income of the company from operations rose to Rs 1,242.11 crore from Rs 1,034.27 crore in the corresponding period of the previous year. The total expenses also surged to Rs 1,125.25 crore against Rs 972.08 crore.

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The firm’s annualized ROE and ROA for the second quarter of the financial year 2022-23 stood at 20% and 3%, respectively. Core pre-provision operating profit stood at Rs 685 crore for the quarter up 23% year-on-year (YoY). The average borrowing costs of the company for the quarter fell 3 bps quarter-on-quarter (QoQ) and 29 bps YoY to 8.4%.