Motilal Oswal - MOSL: Morning India (23/August/18): 1. Larsen Toubro (Annual Reports); 2. Nestle India; 3. P G Hygiene; 4. Federal Bank; 5. KPIT Tech

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Motilal Oswal

Team Research

MOSL: Morning India (23/August/18): 1. Larsen & Toubro (Annual Reports); 2. Nestle India; 3. P & G Hygiene; 4. Federal Bank; 5. KPIT Tech

MOrning India (23/August/18): 1. Larsen & Toubro (A deep dive into subsidiaries’ annual reports); 2. Nestle India; 3. P & G Hygiene; 4. Federal Bank; 5. KPIT Tech

Today’s top research idea

Larsen & Toubro: A deep dive into subsidiaries’ annual reports; Investment in subsidiaries/JVs rises 10% YoY to INR232b

Key highlights of Larsen & Toubro’s subsidiaries’ annual reports:

Performance of manufacturing subsidiaries—Special Steel & Forgings/Katupalli Yard remained sub-par with FY18 loss at INR2.7b/INR4.4b, respectively. Profitability at MHPS JV improved for both the Boiler and TG units.
Investments (including L&A) in subsidiaries/JVs rose 10% YoY to INR232b (39% of capital employed).
Losses at Infrastructure Development (P) Limited narrowed in FY18 to INR2.5b.
Nabha Power reverted to profitability in FY18.
L&T Realty sales fell 40% YoY in FY18 to INR15b,
ECL related provisioning stood at INR1.7b (INR1.5b in FY17) in standalone P/L and at INR9.5b at a consolidated level in FY18 (INR13.3b in FY17).

Piping hot news

Haier Appliances to invest â‚¹3,069 crore to set up manufacturing units in Greater Noida

Haier Appliances will invest â‚¹3,069 crore to establish manufacturing units at an industrial township in Greater Noida, UP, DMICDC said on Wednesday. The consumer electronics company expects to generate direct employment for 3,950 people with this project, Delhi Mumbai Industrial Corridor Development Corporation (DMICDC) said in a statement. It has been allotted 123.7 acre of land in the DMIC Integrated Industrial Township Greater Noida (IITGN) project for setting up manufacturing units, it said.

23/08/2018 26 EN

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MOSL: Morning India (23/August/18): 1. Larsen & Toubro (Annual Reports); 2. Nestle India; 3. P & G Hygiene; 4. Federal Bank; 5. KPIT Tech

MOSL : HOME FIRST FINANCE COMPANY: Earnings in-line with sustained improvement in asset quality

MOSL : SHOPPERS STOP: Ticking the right boxes

MOSL : ERIS LIFESCIENCES: Enhanced efforts toward product launch-related activities

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