BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Volume growth for major branded building material categories is likely to accelerate QoQ in Q4 FY21 driven by-
1. impressive growth traction in secondary real estate market,
2. pent-up demand in renovation, refurbishment segment, and
3. sustained consolidation particularly in categories like plumbing pipes and laminates.
We thus foresee all categories to recover beyond pre-Covid-19 levels in Q4 FY21.
With expected increase in input costs (due to higher crude prices which were not passed on fully in Q4), we expect categories like tiles, pipes and adhesives to witness gross margin moderation on sequential basis.
However, Ebitda margins are likely to remain firm QoQ largely driven by operating leverage.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR