Auto And Auto-Ancillary Q3 Earnings Preview: Smart Performance Improvement On The Cards, Says ICICI Direct
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 Direct Report
A healthy festive period and elements of pent-up demand, channel restocking led the auto industry to remain firmly on the recovery path in Q3 FY21.
Passenger vehicle, motorcycle and tractor segments continued to be buoyant, with a pick-up in truck and scooter sales a welcome development.
While topline performance is consequently expected to be strong across our coverage universe, margins are seen contracting sequentially on the back of a sharp rise in key raw materials like metals, rubber and other crude derivatives.
Original equipment manufacturer pack is seen leading the recovery.
Click on the attachment to read the full report:
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 author entity 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.