Reviews

HAWKINS COOKERS

Ticker: 508486 FV: Rs.10
52-Week H/L: Rs.3371.20/2604.95

We had recommended Hawkins Cookers in Volume No 34, Issue No 14 (dated Jan 22, 2018), when the scrip was trading at Rs 3147. Our recommendation was backed by factors like strong brand recognition and robust financial performance in Q2FY18. In Q4FY18, the revenue of the company was marginally up by 3.1 per cent YoY, but PAT was down by 4.3 per cent YoY. For FY18, the revenue was marginally up by 3.1 per cent YoY and the PAT too grew marginally by 2.6 per cent YoY. The EBITDA margin declined from 12.35 per cent in FY17 to 12.2 per cent in FY18. The PAT margin too declined from 8.78 per cent in FY17 to 8.75 per cent in FY18. The growth pace has lowered in H2FY18 due to decline in volumes. We see limited upside in the stock price and hence recommend investors to EXIT the scrip.



TECHNOCRAFT INDUSTRIES

Ticker: 532804 FV: Rs.10
52-Week H/L: Rs.619/385

We had recommended Technocraft Industries in Volume No 34, Issue No 14 (dated Jan 22, 2018), when the scrip was trading at Rs 560. Our recommendation was backed by factors like robust financials in Q2FY18 and higher return ratios. We had reviewed the stock in Volume No 34, Issue No 22 (dated Mar 19, 2018), when it was trading at Rs 538. We had recommended to hold the scrip on account of strong performance in Q3FY18. For FY18, the company's topline grew by 21.3 per cent YoY. The EBITDA margin declined from 15.6 per cent in FY17 to 14.7 per cent in FY18. The PAT for the year was up by 88.6 per cent YoY. Recently, due to the volatility in the market, the stock price has corrected. Fundamentally, the company is strong and hence we would urge investors to HOLD the scrip.