(CMP: 513.90)
MAINTAIN BUY
TARGET: 606 (Previous Target:₹659)
Reported 2.5% YoY Dip In Q2CY25 Revenue, Slightly Below Our Estimate
EBITDA Remained Flat YoY & Is Higher Than Our Estimate
September Quarter May Be Affected By Heavy Monsoon Rainfall
Given The Miss In A Key Quarter, We Are Cutting CY26 EPS Estimates By 6%