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
ICICI Securities continue to maintain their positive stance for CY21 as they expect consensus earnings upgrade to continue.
Industry average Ebitda/te grew 25% YoY in FY20, which further rose 20% YoY to >Rs1,250/te in H1 FY21.
With improving volumes/prices, investors are likely to get more convinced about the sustainability of these profitability.
Consensus FY21E/FY22E Ebitda has been upgraded by 25%/15% during H2 CY20; ICICI Securities’ estimates are ~10% ahead of consensus.
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