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.
Dolat Capital Report
GNA Axles Ltd. reported weak numbers but surpassed estimates. Revenue came at Rs 3 billion (down 3% YoY led by muted class 8 truck numbers and weak tractor demand.
Ebitda de-grew 18% YoY to Rs 396 million with 242 basis points YoY contraction in margin at 13.2%.
Despite slowdown in class 8 truck new order, we believe export revenue to be stable in coming quarters due to strong order backlog for North America class 8 trucks and stable tractor business, partially offset by decline in revenue from Europe.
Expect export business to accelerate further in H2 FY23 with improvement in semiconductor supply.
GNA Axles' domestic business will also see improvement with recovery in volume of tractors from Q1.
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