Things I compiled yesterday as part of my stock research activities.
Quarterly Results
Core Business
🟢 KEI Industries guided volume growth of 17-18% for FY27 led by the Sanand plant, with overall revenue growth guidance well above 20%. The Sanand facility targets the fast-growing data centre and renewables cable segment, which is scaling at 25%+ annually.
🟢 APL Apollo Tubes management reaffirmed FY26 guidance of 15 to 20% volume growth, 20 to 25% EBITDA growth, and 25 to 30% PAT growth; CapEx of ₹1,400-1,500 Cr for 1 million tonnes from internal accruals over the next 2.5 years. Steel tube demand from affordable housing and urban infrastructure is growing at 12-14% CAGR, providing multi-year PAT compounding visibility.
🟢 Coal India commissioned a 100 MW solar power plant in Gujarat. This is Coal India’s first major renewable commissioning toward its 3,000 MW solar target.
🟢 AGI Greenpac announced a ₹1,000 Cr aluminium-can manufacturing plant in Hathras, UP, with 1.6 billion cans per year capacity, scheduled for H1 2027 commissioning. India’s aluminium can market is growing at over 15% annually as FMCG companies accelerate the shift from glass and PET.
🔴 Force Motors April total sales fell to 3,113 units from 3,255 units YoY, a 4.4% decline. Softness in defence and institutional segments, which account for over 60% of Force Motors volumes, is the primary drag.
New Orders Received
🟢 BEL bagged a ₹1,251 Cr order for supply of Ground Based Mobile ELINT Systems (GBMES) to the Indian Army.
🟢 L&T won a large order (₹2,500–5,000 Cr range) from BCGCL, a CIL-BHEL JV, for a coal-to-ammonium nitrate plant in Odisha with 2,000 TPD capacity under Aatmanirbhar Bharat. India targets 100 million tonnes of coal gasification capacity by 2030, creating a long-term EPC pipeline.
Partnerships & Acquisitions
🟢 Tata Power JV signed a $515 M financing pact with the World Bank for the 1,125 MW Dorjilung Hydropower Project in Bhutan, with 80% of annual output to be supplied to India under a PPP model. Total project cost is $1.7 B, with the World Bank financing expected to catalyse $900 M in additional private capital.
🟡 TCL Corporation is in early talks to sell a 51% stake in its India plant for up to $800 M; potential buyers include Dixon Technologies, Epack Durable, Syrma SGS Technology, Amber Enterprises, and Uno Minda. A transaction of this scale would be India’s largest consumer electronics M&A and immediately double the acquirer’s manufacturing revenue run rate.
Economy & Other
🟢 India’s coffee exports jumped 27% in January-April 2026 on strong Robusta and instant coffee demand, directly benefiting CCL Products and Vintage Coffee. India is now the world’s 6th largest coffee exporter, and Robusta premiums over Vietnam are at a 5-year high.
That’s it for today.
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Disclaimer: Anand Ganapathy K is a SEBI-registered Research Analyst with SEBI registration number INH000016630. This post is purely for learning purposes. We do not recommend buying or selling stocks mentioned in this newsletter. Securities market investments carry market risks. Kindly review all related documents before investing.