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.
Motilal Oswal Report
Siemens Ltd.’s Q1 FY21 revenue growth of 15% YoY suggests a gradual recovery, in line with the trend across peers.
Ebitda grew 13% as Ebitda margin declined 30 basis point YoY.
Adjusted for a strong cut in other expenses (5.6% of sales versus 9.6% in Q1 FY20), the margin trend seems to be under pressure and needs monitoring over the next one to two quarters.
Other income declined 33% YoY to Rs 570 million, despite nearly 10% YoY increase in the cash balance, suggesting the impact of declining interest rate on excess cash on the balance sheet.
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