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 Direct Report
Q3 FY22E is likely to be a good quarter for the capital goods universe in terms of execution as most companies are likely to report marginal growth on pre-Covid-19 levels while order inflows of engineering, procurement and construction companies have seen a rebound QoQ. Product companies are likely to post a decent quarter YoY on a low base, aided by normalisation of supply chain and dispatches.
Overall, order inflows are expected to remain decent, with some project deferrals across key segments to Q4 FY22. However, the order pipeline remains robust across transmission and distribution, green energy corridor, railways, transportation, water and infrastructure, etc, and are expected to be lumpy in Q4 FY22E. Key risks remain project delays/deferrals, lower conversion rate.
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