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
Maruti Suzuki India Ltd. printed an impressive margin performance in Q3 FY22. Margin improved 250 basis points QoQ to 6.7% led by operating leverage, lower discounts and price hike, partially offset by commodity inflation.
Maruti Suzuki's management stated that semiconductor availability is expected to improve further in Q4, this will help in bringing down its order backlog. (currently stands at 260,000 units).
Also expect softening of metal prices, operating leverage and price hike (1.9% price hike in January) to aid margin in ensuing quarters.
We expect passenger vehicles demand to continue to be strong for the next two years led by sharp recovery in the economy, strong waiting period of cars and low inventory.
Also see sharp margin expansion due to softening commodity prices, new roll out in SUV segment, operating leverage benefit and price hike.
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