Source: Kotak Institutional Research Report
The Indian market (Nifty-50 Index basis) is trading at 21X FY2018E ‘EPS’ (free-float basis) and 17X FY2019E ‘EPS’.
Note that we project a very strong recovery in earnings in FY2019 after flat net profits in FY2018.
However, we have limited confidence in our FY2019E estimates given (1) little evidence of a strong turnaround in the economy, which can drive volume growth and (2) high margin and profitability assumptions in several sectors, which may be at risk.
2 replies on “Kotak: Forgive us, we know not what we do”
This is the state of equity research in the country. people are investing their money based on such reports
Waaayyyyy honest writings. What’s he smoking?