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
Revenue growth (up 4.7% quarter-on-quarter, constant currency) and normalised Ebit margin (12.6%) were ahead of our estimates.
Sequentially, growth was driven largely by design-led-manufacturing while strong operational improvements in services business led around 140 basis points Ebit margin expansion.
Within services, aerospace and defence and energy and utilities fared well. Strong increase in order intake ($238 million, around 22% QoQ) came as a surprise.
This strength seems to reflect structural changes the company had undertaken in the recent past.
For FY22, the outlook of double-digit growth in services and 20% in DLM was maintained.
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