Results Tracker                                               Thursday, 19 July 2012
                                                                                                                                  make more, for sure.
Q1FY13




                                               Results to be Declared on Thursday, 19th July 2012
                                                                      COMPANIES NAME
       Ador Fontech                         Bombay Oxygen                    Hindustan Media                 Kothari World Fin               Tata Sponge
       Ajanta Pharma                          D B CORP                          Infomedia 18                   Krishna Ferro                 Texmo Pipes
       Autoline Inds                         Dish TV India                           IVP                   L&T Finance Holdings              Timken India
        Blue Star Info                      Dr Reddys Lab                   Kirloskar Oil Engines               NIIT Tech                    Welcast Steel
          BOC India                         Hero MotoCorp                    Kotak Mah Bank                      Persistent Sys                Zee News


                                                Results Announced on 18th July 2012 (Rs Million)


                                                                               Bajaj Auto
                             Quarter ended                                     Year to Date                               Year ended
                                201206     201106                  % Var         201206          201106          % Var      201203         201103       % Var
Sales                             48656.6         47062.9           3.39         48656.6        47062.9           3.39      195289.8      163982.3      19.09
Other Income                       1819.7          1440.9           26.29         1819.7         1440.9           26.29       6080.4        5765.1         5.47
PBIDT                             10536.7          9839.3            7.09        10536.7         9839.3            7.09      43280.3       37477.3        15.48
Interest                             0.4             2.3           -82.61           0.4            2.3           -82.61        222.4         16.9       1215.98
PBDT                              10536.3           9837             7.11        10536.3          9837             7.11      41717.9       44705.9        -6.68
Depreciation                        352.4           306.4           15.01          352.4          306.4           15.01       1456.2        1228.4        18.54
PBT                               10183.9          9530.6            6.85        10183.9         9530.6            6.85      40261.7       43477.5         -7.4
TAX                                 3000            2420            23.97          3000           2420            23.97      10221.2       10080.2          1.4
Deferred Tax                          0               0                0             0              0                0           0            0              0
PAT                                7183.9          7110.6           1.03          7183.9         7110.6           1.03       30040.5       33397.3       -10.05
Equity                             2893.7          2893.7            0            2893.7         2893.7             0        2893.7        2893.7          0
PBIDTM(%)                           20.57           20.03          2.69            21.66          20.91           3.58        21.14         21.62        -2.25

The quarter ended June 2012 witnessed marginal change in the total revenue. The figure for the mentioned quarter is pegged at Rs.
48656.60 millions.Net profit showed a marginal rise at Rs. 7183.90 millions for the quarter ended June 2012, as compared to
corresponding quarter of last year.Operating profit for the quarter ended June 2012 rose to 10536.70 millions as compared to 9839.30
millions of corresponding quarter ended June 2011.




 Please refer to important disclosures at the end of this report                           For Private circulation Only                       For Our Clients Only



 Mansukh Securities and Finance Ltd                                                                SEBI Regn No. BSE: INB010985834 /         NSE: INB230781431
 Office: 306, Pratap Bhavan, 5, Bahadur Shah Zafar Marg, New Delhi-110002                                                             PMS Regn No. INP000002387
 Phone: 011-30123450/1/3/5 Fax: 011-30117710 Email: research@moneysukh.com
 Website: www.moneysukh.com
Results Tracker                                             Q1FY13
                                                                                                                               make more, for sure.




                                                                        Sanwaria Agro Oils
                             Quarter ended                                    Year to Date                               Year ended
                                201206     201106                  % Var        201206          201106          % Var      201203        201103        % Var
Sales                          4638.68     3596.53                 28.98        4638.68         3596.53         28.98     14204.32      15920.32       -10.78
Other Income                          0                0              0             0               0              0          0             0             0
PBIDT                              263.34          148.25           77.63        263.34         148.25           77.63     557.68        718.08        -22.34
Interest                            65.02           79.83          -18.55         65.02          79.83          -18.55     280.54        267.81         4.75
PBDT                               198.32           68.42          189.86        198.32          68.42          189.86     277.14        450.27        -38.45
Depreciation                        12.48           14.93          -16.41         12.48          14.93          -16.41       67.2         67.07         0.19
PBT                                185.84           53.49          247.43        185.84          53.49          247.43     209.94         383.2        -45.21
TAX                                  22.3            6.42          247.35          22.3           6.42          247.35      25.19         73.32        -65.64
Deferred Tax                          0                0              0             0               0              0          0             0             0
PAT                                163.54           47.07          247.44        163.54          47.07          247.44     184.75        309.88        -40.38
Equity                             348.05          348.05            0           348.05         348.05             0       348.05        174.03         99.99
PBIDTM(%)                           5.68            4.12           37.73          5.68           4.12            37.72      3.93          4.51         -12.96

The sales for the June 2012 quarter moved up 28.98% to Rs. 4638.68 millions as compared to Rs. 3596.53 millions during the
corresponding quarter last year.The company almost doubled its revenue to Rs. 163.54 millions from Rs. 47.07 millions in the quarter
ended June 2012.Operating profit surged to 263.34 millions from the corresponding previous quarter of 148.25 millions.




                                                                           Kirloskar Brothers
                             Quarter ended                                    Year to Date                               Year ended
                                201206     201106                  % Var        201206          201106          % Var      201203        201103        % Var
Sales                             4421.67          4298.5           2.87        4421.67         4298.5           2.87     17818.76      19468.85       -8.48
Other Income                        17.54          370.14          -95.26         17.54         370.14          -95.26     462.79         128.51       260.12
PBIDT                              303.78          655.52          -53.66        303.78         655.52          -53.66     1276.4        1781.43       -28.35
Interest                           116.64          115.06           1.37         116.64         115.06           1.37      634.14         453.08        39.96
PBDT                               187.14          540.46          -65.37        187.14         540.46          -65.37     642.27        1328.35       -51.65
Depreciation                         74.9           73.5             1.9           74.9          73.5             1.9      302.62         300.14         0.83
PBT                                112.24          466.96          -75.96        112.24         466.96          -75.96     339.66        1028.21       -66.97
TAX                                   22            105            -79.05           22           105            -79.05      27.77         414.61        -93.3
Deferred Tax                           0             0                0              0            0                0          0              0             0
PAT                                 90.24          361.96          -75.07         90.24         361.96          -75.07     311.89          613.6       -49.17
Equity                             158.68          158.68            0           158.68         158.68            0        158.68        158.68          0
PBIDTM(%)                           6.87            15.25          -54.95         6.87           15.25          -54.95      7.16          9.15         -21.71


The company's total revenue for the quarter ended June 2012 saw a slight change in the total revenue, having registered a total revenue of
Rs. 4421.67 millions.A big loss of -75.07% reported for the quarter ended June 2012 to Rs. 90.24 millions from Rs. 361.96 millions.A
decline of 303.78 millions was observed in the OP in the quarter ended June 2012 from 655.52 millions on QoQ basis.




 Please refer to important disclosures at the end of this report                          For Private circulation Only                      For Our Clients Only



 Mansukh Securities and Finance Ltd                                                               SEBI Regn No. BSE: INB010985834 /        NSE: INB230781431
 Office: 306, Pratap Bhavan, 5, Bahadur Shah Zafar Marg, New Delhi-110002                                                           PMS Regn No. INP000002387
 Phone: 011-30123450/1/3/5 Fax: 011-30117710 Email: research@moneysukh.com
 Website: www.moneysukh.com
Results Tracker                                             Q1FY13
                                                                                                                             make more, for sure.




                                                                     Honeywell Automation
                             Quarter ended                                  Year to Date                               Year ended
                                  201206           201106          % Var      201206          201106          % Var      201112        201012        % Var
Sales                              3866.2          3477.6          11.17       7997.7         7007.1          14.14     16190.6       13557.9        19.42
Other Income                        63.5             40.1           58.35       83.1            66.6           24.77       103           79.7        29.23
PBIDT                              200.5            400.5          -49.94      467.9           837.9          -44.16     1613.6        1518.8         6.24
Interest                             0.6              3.2          -81.25        1.2             3.2           -62.5       8.5            0.8        962.5
PBDT                               199.9            397.3          -49.69      466.7           834.7          -44.09     1605.1         1518          5.74
Depreciation                        34.2             37.3           -8.31       68.5            71.9           -4.73      148.1          129         14.81
PBT                                165.7             360           -53.97      398.2           762.8           -47.8      1457          1389           4.9
TAX                                 48.2             102           -52.75      115.1           186.7          -38.35      385.6         338.5        13.91
Deferred Tax                          0                0              0           0               0              0          0              0            0
PAT                                117.5             258           -54.46      283.1           576.1          -50.86     1071.4        1050.5        1.99
Equity                              88.4             88.4            0          88.4            88.4            0         88.4          88.4           0
PBIDTM(%)                           5.19            11.52          -54.97       5.85           11.96          -51.08      9.97          11.2         -11.03

The June 2012 quarter revenue stood at Rs. 3866.20 millions, up 11.17% as compared to Rs. 3477.60 millions during the corresponding
quarter last year.Net Profit of the company move down -54.46% to Rs. 117.50 millions from Rs. 258.00 millions in the same quarter last
year.The Operating Profit of the company witnessed a decrease to 200.50 millions from 400.50 millions.




                                                                        Infotech Enterprise
                             Quarter ended                                  Year to Date                               Year ended
                                  201206           201106          % Var      201206          201106          % Var      201203        201103        % Var
Sales                              2587.4          1917.4          34.94       2587.4         1917.4          34.94       8638         6476.7        33.37
Other Income                        161.4            67.3          139.82       161.4           67.3          139.82      535.8         297.6         80.04
PBIDT                               917.5           448.6          104.53       917.5          448.6          104.53     2645.6        1667.8         58.63
Interest                              0               0               0           0              0               0         5.6           0.8           600
PBDT                                899.4           448.6          100.49       899.4          448.6          100.49      2640         1689.9         56.22
Depreciation                        118.9            95.6           24.37       118.9           95.6           24.37      411.6         375.5          9.61
PBT                                 780.5            353            121.1       780.5           353            121.1     2228.4        1314.4         69.54
TAX                                 245.1           111.2          120.41       245.1          111.2          120.41      642.4         135.6        373.75
Deferred Tax                          0               0               0           0              0               0          0             0              0
PAT                                 535.4           241.8          121.42       535.4          241.8          121.42      1586         1178.8        34.54
Equity                             557.1             557            0.02       557.1            557             0.02     557.1          556.4         0.13
PBIDTM(%)                          35.46             23.4          51.56       35.46            23.4           51.56     30.63          25.75        18.94
The sales moved up 34.94% to Rs. 2587.40 millions for the June 2012 quarter as compared to Rs. 1917.40 millions during the year-ago
period.Net Profit witnessed a 121.42% growth almost the double from Rs. 241.80 millions to Rs. 535.40 millions of same quarter last
year.Operating profit for the quarter ended June 2012 rose to 917.50 millions as compared to 448.60 millions of corresponding quarter
ended June 2011.




 Please refer to important disclosures at the end of this report                        For Private circulation Only                      For Our Clients Only



 Mansukh Securities and Finance Ltd                                                             SEBI Regn No. BSE: INB010985834 /        NSE: INB230781431
 Office: 306, Pratap Bhavan, 5, Bahadur Shah Zafar Marg, New Delhi-110002                                                         PMS Regn No. INP000002387
 Phone: 011-30123450/1/3/5 Fax: 011-30117710 Email: research@moneysukh.com
 Website: www.moneysukh.com
Results Tracker                                              Q4FY12
                                                                                                                            make more, for sure.




Data Source : ACE Equity



                    NAME                                            DESIGNATION                                          E-MAIL
                 Varun Gupta                                        Head - Research                              varungupta@moneysukh.com
            Pashupati Nath Jha                                      Research Analyst                         pashupatinathjha@moneysukh.com
                Vikram Singh                                        Research Analyst                         vikram_research@moneysukh.com




This report is for the personal information of the authorized recipient and does not construe to be any investment, legal or taxation advice to you.
Mansukh Securities and Finance Ltd (hereinafter referred as MSFL) is not soliciting any action based on it. This report is not for public distribution and
has been furnished to you solely for your information and should not be reproduced or redistributed to any person in any form.
The report is based upon information that we consider reliable, but we do not represent that it is accurate or complete. MSFL or any of its affiliates or
employees shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information
contained in this report. MSFL or any of its affiliates or employees do not provide, at any time, any express or implied warranty of any kind, regarding
any matter pertaining to this report, including without limitation the implied warranties of merchantability, fitness for a particular purpose, and non-
infringement. The recipients of this report should rely on their own investigations.
MSFL and/or its affiliates and/or employees may have interests/positions, financial or otherwise in the securities mentioned in this report. This
information is subject to change without any prior notice. MSFL reserves the right to make modifications and alterations to this statement as may be
required from time to time. Nevertheless, MSFL is committed to providing independent and transparent recommendations to its clients, and would be
happy to provide information in response to specific client queries.




  Please refer to important disclosures at the end of this report                      For Private circulation Only                   For Our Clients Only



  Mansukh Securities and Finance Ltd                                                           SEBI Regn No. BSE: INB010985834 /     NSE: INB230781431
  Office: 306, Pratap Bhavan, 5, Bahadur Shah Zafar Marg, New Delhi-110002                                                    PMS Regn No. INP000002387
  Phone: 011-30123450/1/3/5 Fax: 011-30117710 Email: research@moneysukh.com
  Website: www.moneysukh.com

Results Tracker 19.07.2012,

  • 1.
    Results Tracker Thursday, 19 July 2012 make more, for sure. Q1FY13 Results to be Declared on Thursday, 19th July 2012 COMPANIES NAME Ador Fontech Bombay Oxygen Hindustan Media Kothari World Fin Tata Sponge Ajanta Pharma D B CORP Infomedia 18 Krishna Ferro Texmo Pipes Autoline Inds Dish TV India IVP L&T Finance Holdings Timken India Blue Star Info Dr Reddys Lab Kirloskar Oil Engines NIIT Tech Welcast Steel BOC India Hero MotoCorp Kotak Mah Bank Persistent Sys Zee News Results Announced on 18th July 2012 (Rs Million) Bajaj Auto Quarter ended Year to Date Year ended 201206 201106 % Var 201206 201106 % Var 201203 201103 % Var Sales 48656.6 47062.9 3.39 48656.6 47062.9 3.39 195289.8 163982.3 19.09 Other Income 1819.7 1440.9 26.29 1819.7 1440.9 26.29 6080.4 5765.1 5.47 PBIDT 10536.7 9839.3 7.09 10536.7 9839.3 7.09 43280.3 37477.3 15.48 Interest 0.4 2.3 -82.61 0.4 2.3 -82.61 222.4 16.9 1215.98 PBDT 10536.3 9837 7.11 10536.3 9837 7.11 41717.9 44705.9 -6.68 Depreciation 352.4 306.4 15.01 352.4 306.4 15.01 1456.2 1228.4 18.54 PBT 10183.9 9530.6 6.85 10183.9 9530.6 6.85 40261.7 43477.5 -7.4 TAX 3000 2420 23.97 3000 2420 23.97 10221.2 10080.2 1.4 Deferred Tax 0 0 0 0 0 0 0 0 0 PAT 7183.9 7110.6 1.03 7183.9 7110.6 1.03 30040.5 33397.3 -10.05 Equity 2893.7 2893.7 0 2893.7 2893.7 0 2893.7 2893.7 0 PBIDTM(%) 20.57 20.03 2.69 21.66 20.91 3.58 21.14 21.62 -2.25 The quarter ended June 2012 witnessed marginal change in the total revenue. The figure for the mentioned quarter is pegged at Rs. 48656.60 millions.Net profit showed a marginal rise at Rs. 7183.90 millions for the quarter ended June 2012, as compared to corresponding quarter of last year.Operating profit for the quarter ended June 2012 rose to 10536.70 millions as compared to 9839.30 millions of corresponding quarter ended June 2011. Please refer to important disclosures at the end of this report For Private circulation Only For Our Clients Only Mansukh Securities and Finance Ltd SEBI Regn No. BSE: INB010985834 / NSE: INB230781431 Office: 306, Pratap Bhavan, 5, Bahadur Shah Zafar Marg, New Delhi-110002 PMS Regn No. INP000002387 Phone: 011-30123450/1/3/5 Fax: 011-30117710 Email: research@moneysukh.com Website: www.moneysukh.com
  • 2.
    Results Tracker Q1FY13 make more, for sure. Sanwaria Agro Oils Quarter ended Year to Date Year ended 201206 201106 % Var 201206 201106 % Var 201203 201103 % Var Sales 4638.68 3596.53 28.98 4638.68 3596.53 28.98 14204.32 15920.32 -10.78 Other Income 0 0 0 0 0 0 0 0 0 PBIDT 263.34 148.25 77.63 263.34 148.25 77.63 557.68 718.08 -22.34 Interest 65.02 79.83 -18.55 65.02 79.83 -18.55 280.54 267.81 4.75 PBDT 198.32 68.42 189.86 198.32 68.42 189.86 277.14 450.27 -38.45 Depreciation 12.48 14.93 -16.41 12.48 14.93 -16.41 67.2 67.07 0.19 PBT 185.84 53.49 247.43 185.84 53.49 247.43 209.94 383.2 -45.21 TAX 22.3 6.42 247.35 22.3 6.42 247.35 25.19 73.32 -65.64 Deferred Tax 0 0 0 0 0 0 0 0 0 PAT 163.54 47.07 247.44 163.54 47.07 247.44 184.75 309.88 -40.38 Equity 348.05 348.05 0 348.05 348.05 0 348.05 174.03 99.99 PBIDTM(%) 5.68 4.12 37.73 5.68 4.12 37.72 3.93 4.51 -12.96 The sales for the June 2012 quarter moved up 28.98% to Rs. 4638.68 millions as compared to Rs. 3596.53 millions during the corresponding quarter last year.The company almost doubled its revenue to Rs. 163.54 millions from Rs. 47.07 millions in the quarter ended June 2012.Operating profit surged to 263.34 millions from the corresponding previous quarter of 148.25 millions. Kirloskar Brothers Quarter ended Year to Date Year ended 201206 201106 % Var 201206 201106 % Var 201203 201103 % Var Sales 4421.67 4298.5 2.87 4421.67 4298.5 2.87 17818.76 19468.85 -8.48 Other Income 17.54 370.14 -95.26 17.54 370.14 -95.26 462.79 128.51 260.12 PBIDT 303.78 655.52 -53.66 303.78 655.52 -53.66 1276.4 1781.43 -28.35 Interest 116.64 115.06 1.37 116.64 115.06 1.37 634.14 453.08 39.96 PBDT 187.14 540.46 -65.37 187.14 540.46 -65.37 642.27 1328.35 -51.65 Depreciation 74.9 73.5 1.9 74.9 73.5 1.9 302.62 300.14 0.83 PBT 112.24 466.96 -75.96 112.24 466.96 -75.96 339.66 1028.21 -66.97 TAX 22 105 -79.05 22 105 -79.05 27.77 414.61 -93.3 Deferred Tax 0 0 0 0 0 0 0 0 0 PAT 90.24 361.96 -75.07 90.24 361.96 -75.07 311.89 613.6 -49.17 Equity 158.68 158.68 0 158.68 158.68 0 158.68 158.68 0 PBIDTM(%) 6.87 15.25 -54.95 6.87 15.25 -54.95 7.16 9.15 -21.71 The company's total revenue for the quarter ended June 2012 saw a slight change in the total revenue, having registered a total revenue of Rs. 4421.67 millions.A big loss of -75.07% reported for the quarter ended June 2012 to Rs. 90.24 millions from Rs. 361.96 millions.A decline of 303.78 millions was observed in the OP in the quarter ended June 2012 from 655.52 millions on QoQ basis. Please refer to important disclosures at the end of this report For Private circulation Only For Our Clients Only Mansukh Securities and Finance Ltd SEBI Regn No. BSE: INB010985834 / NSE: INB230781431 Office: 306, Pratap Bhavan, 5, Bahadur Shah Zafar Marg, New Delhi-110002 PMS Regn No. INP000002387 Phone: 011-30123450/1/3/5 Fax: 011-30117710 Email: research@moneysukh.com Website: www.moneysukh.com
  • 3.
    Results Tracker Q1FY13 make more, for sure. Honeywell Automation Quarter ended Year to Date Year ended 201206 201106 % Var 201206 201106 % Var 201112 201012 % Var Sales 3866.2 3477.6 11.17 7997.7 7007.1 14.14 16190.6 13557.9 19.42 Other Income 63.5 40.1 58.35 83.1 66.6 24.77 103 79.7 29.23 PBIDT 200.5 400.5 -49.94 467.9 837.9 -44.16 1613.6 1518.8 6.24 Interest 0.6 3.2 -81.25 1.2 3.2 -62.5 8.5 0.8 962.5 PBDT 199.9 397.3 -49.69 466.7 834.7 -44.09 1605.1 1518 5.74 Depreciation 34.2 37.3 -8.31 68.5 71.9 -4.73 148.1 129 14.81 PBT 165.7 360 -53.97 398.2 762.8 -47.8 1457 1389 4.9 TAX 48.2 102 -52.75 115.1 186.7 -38.35 385.6 338.5 13.91 Deferred Tax 0 0 0 0 0 0 0 0 0 PAT 117.5 258 -54.46 283.1 576.1 -50.86 1071.4 1050.5 1.99 Equity 88.4 88.4 0 88.4 88.4 0 88.4 88.4 0 PBIDTM(%) 5.19 11.52 -54.97 5.85 11.96 -51.08 9.97 11.2 -11.03 The June 2012 quarter revenue stood at Rs. 3866.20 millions, up 11.17% as compared to Rs. 3477.60 millions during the corresponding quarter last year.Net Profit of the company move down -54.46% to Rs. 117.50 millions from Rs. 258.00 millions in the same quarter last year.The Operating Profit of the company witnessed a decrease to 200.50 millions from 400.50 millions. Infotech Enterprise Quarter ended Year to Date Year ended 201206 201106 % Var 201206 201106 % Var 201203 201103 % Var Sales 2587.4 1917.4 34.94 2587.4 1917.4 34.94 8638 6476.7 33.37 Other Income 161.4 67.3 139.82 161.4 67.3 139.82 535.8 297.6 80.04 PBIDT 917.5 448.6 104.53 917.5 448.6 104.53 2645.6 1667.8 58.63 Interest 0 0 0 0 0 0 5.6 0.8 600 PBDT 899.4 448.6 100.49 899.4 448.6 100.49 2640 1689.9 56.22 Depreciation 118.9 95.6 24.37 118.9 95.6 24.37 411.6 375.5 9.61 PBT 780.5 353 121.1 780.5 353 121.1 2228.4 1314.4 69.54 TAX 245.1 111.2 120.41 245.1 111.2 120.41 642.4 135.6 373.75 Deferred Tax 0 0 0 0 0 0 0 0 0 PAT 535.4 241.8 121.42 535.4 241.8 121.42 1586 1178.8 34.54 Equity 557.1 557 0.02 557.1 557 0.02 557.1 556.4 0.13 PBIDTM(%) 35.46 23.4 51.56 35.46 23.4 51.56 30.63 25.75 18.94 The sales moved up 34.94% to Rs. 2587.40 millions for the June 2012 quarter as compared to Rs. 1917.40 millions during the year-ago period.Net Profit witnessed a 121.42% growth almost the double from Rs. 241.80 millions to Rs. 535.40 millions of same quarter last year.Operating profit for the quarter ended June 2012 rose to 917.50 millions as compared to 448.60 millions of corresponding quarter ended June 2011. Please refer to important disclosures at the end of this report For Private circulation Only For Our Clients Only Mansukh Securities and Finance Ltd SEBI Regn No. BSE: INB010985834 / NSE: INB230781431 Office: 306, Pratap Bhavan, 5, Bahadur Shah Zafar Marg, New Delhi-110002 PMS Regn No. INP000002387 Phone: 011-30123450/1/3/5 Fax: 011-30117710 Email: research@moneysukh.com Website: www.moneysukh.com
  • 4.
    Results Tracker Q4FY12 make more, for sure. Data Source : ACE Equity NAME DESIGNATION E-MAIL Varun Gupta Head - Research varungupta@moneysukh.com Pashupati Nath Jha Research Analyst pashupatinathjha@moneysukh.com Vikram Singh Research Analyst vikram_research@moneysukh.com This report is for the personal information of the authorized recipient and does not construe to be any investment, legal or taxation advice to you. Mansukh Securities and Finance Ltd (hereinafter referred as MSFL) is not soliciting any action based on it. This report is not for public distribution and has been furnished to you solely for your information and should not be reproduced or redistributed to any person in any form. The report is based upon information that we consider reliable, but we do not represent that it is accurate or complete. MSFL or any of its affiliates or employees shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. MSFL or any of its affiliates or employees do not provide, at any time, any express or implied warranty of any kind, regarding any matter pertaining to this report, including without limitation the implied warranties of merchantability, fitness for a particular purpose, and non- infringement. The recipients of this report should rely on their own investigations. MSFL and/or its affiliates and/or employees may have interests/positions, financial or otherwise in the securities mentioned in this report. This information is subject to change without any prior notice. MSFL reserves the right to make modifications and alterations to this statement as may be required from time to time. Nevertheless, MSFL is committed to providing independent and transparent recommendations to its clients, and would be happy to provide information in response to specific client queries. Please refer to important disclosures at the end of this report For Private circulation Only For Our Clients Only Mansukh Securities and Finance Ltd SEBI Regn No. BSE: INB010985834 / NSE: INB230781431 Office: 306, Pratap Bhavan, 5, Bahadur Shah Zafar Marg, New Delhi-110002 PMS Regn No. INP000002387 Phone: 011-30123450/1/3/5 Fax: 011-30117710 Email: research@moneysukh.com Website: www.moneysukh.com