Reviews

INTELLECT DESIGN ARENA
Ticker : 538835
FV:Rs 5
52-Week H/L: Rs 283.20/157.80 

We had recommended Intellect Design Arena in volume no 35, issue no 8 (dated Dec 17, 2018) when the scrip was trading at Rs 233. Our recommendation was based on its robust financials and strong order pipeline. In Q3FY19, the company’s revenue grew by 38.4 per cent YoY to Rs 374.7 crore, but declined marginally by 1.5 per cent QoQ. EBITDA jumped by 90.7 per cent YoY to Rs 23.7 crore but declined by 35 per cent on QoQ basis. PAT during the quarter increased by 10 per cent YoY to Rs 13.3 crore from Rs 12.16 crore. The management has provided guidance of 25 per cent revenue growth for FY19. Its partnership with IBM, AWS and Pivotal for selling products on cloud is adding to its growth story. Thus, we urge investors to HOLD the scrip. 

BRITANNIA INDUSTRIES
Ticker: 500825
FV :Rs 1
52-Week H/L: Rs 3472.05/2350.50 

We had recommended Britannia Industries in volume no 35, issue no 11 (dated Jan 7, 2019) when the scrip was trading at Rs 3125.55. Our recommendation was based on good numbers posted in Q2FY19 and launch of innovative products. In Q3FY19, the consolidated revenue was up by 10.7 per cent YoY to Rs 2842 crore. PAT during the quarter grew by 13.6 per cent YoY to Rs 300 crore from Rs 264 crore. The cream wafers category received good response in South India owing to which company plans to expand it in North and West zones. One of its facilities at Ranjangaon has started commercial production with two cake lines and two biscuit lines. The cake category is expected to perform well in the near term. Considering these factors, we urge investors to HOLD the scrip.