Reviews

CEREBRA INTEGRATED TECHNOLOGIES

Ticker : 532413
FV:  Rs. 10
52-Week H/L: Rs. 73/35.95

We had recommended Cerebra Integrated Technologies in Volume No 34, Issue No 33 (dated June 4, 2018), when the scrip was trading at Rs 65. Our recommendation was backed by factors like unique business model and robust growth. Currently, its e-waste recycling capacity is 96,000 MTPA. The second factory building is under construction and will be ready and fully operational by December 2018. In Q1FY19, its revenue jumped by 234 per cent YoY to Rs 116.57 crore. Its EBITDA was up by 153 per cent YoY and PAT grew tremendously by 205 per cent YoY to Rs 13.2 crore from Rs 4.33 crore. It has plans to expand portfolio across various sectors going forward. Also, it is trading at an attractive P/E valuation of 15.24x. Thus, we urge investors to HOLD the scrip.



DEWAN HOUSING FINANCE CORPORATION

Ticker: 511072
FV:  Rs. 10
52-Week H/L: Rs. 685/450

We had recommended Dewan Housing Finance Corporation in Volume No 34, Issue No 28 (dated Apr 30, 2018), when the scrip was trading at Rs 621. Our recommendation was backed by factors like strong loan book and improving NIM and return ratios. In Q1FY19, the operating income increased by 26.2 per cent YoY to Rs 3149.67 crore. The PAT for the quarter rose by 34.9 per cent YoY to Rs 435.02 crore. Its AUM grew by 37.1 per cent YoY and disbursements have shown robust growth of 64.9 per cent YoY. The asset quality has also improved during the quarter on YoY basis. The strong loan book and improvement in asset quality will drive company’s growth going forward. Investors can hold the scrip for the long term but as our target price was achieved, we recommended BOOK PROFIT on August 20, 2018.