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
If the Omicron-led lockdown extends for more than a month, it may impact hotel-restaurant and out-of-home consumption. Lower demand, but stable supply of milk may result in lower milk procurement prices for dairy players. It will allow dairy companies to generate YoY margin expansion in Q4 FY22.
While an Omicron-led lockdown may arrest increase in milk procurement prices, we believe milk procurement prices will steadily go up in medium term considering increase in animal feed prices.
Global skim milk powder prices are inching upwards and freight costs in India are also rising, but we note, most private dairy companies have not yet raised selling prices and we do not model them to raise prices in Q4 FY22.
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