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
SKF India Ltd. reported relatively flattish numbers YoY whereas sequentially revenues jumped 133.4%, given a lower base in Q1 and swift recovery witnessed by the auto sector.
Revenue for the quarter was at Rs 703.2 crore, down 5.9% YoY (versus our estimate of Rs 744.1 crore).
Gross margins were at 37.2%, improving approximately 120 basis points YoY while contracting approximately 180 basis points QoQ as steel prices have recovered lately.
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