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.
Nirmal Bang Report
IFB Industries Ltd.’s revenue grew by 65% YoY to Rs 7.9 billion but was 7% below our estimate.
The topline was lower than expectation as the company lost some sales due to intense competition from peers who refrained from passing the price hikes on to consumers.
Home Appliances sales jumped 68% YoY to Rs 6.4 billion (80% of total sales) while fine blanking/motors revenue grew by 58%/5% YoY to Rs 1.5 billion (19% of total sales)/Rs 121 million (2% of total sales).
Demand for categories such as washing machines, dishwashers, microwave ovens and air conditioners continued to remain buoyant due to work from home amid lockdowns.
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