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
Wabco India Ltd.’s Q2 FY21 results were a beat (albeit on downbeat consensus expectations) driven by resilient sales performance in exports (up 8.4% YoY), aftermarket division (up 1.7%).
Topline declined approximately 6% YoY to approximately Rs 4.2 billion; however, Ebitda margin improved 329 basis points YoY to 15.1% on the back of strong fixed cost reduction.
On a cyclical basis, we like Wabco India’s underlying business due to -
- dominant market share structure,
- strong volume rebound expectations (approximately 3,540% compound annual growth rate FY21-23) in domestic medium and heavy commercial vehicle industry and
- strong technology support (ZF Group).
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 brokerage 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