Auto And Auto-Ancillary Q3 Earnings Preview: Smart Performance Improvement On The Cards, Says ICICI Direct 
Traffic moves along a highway during morning rush hour in Delhi, India. (Photographer Kuni Takahashi/Bloomberg)

Auto And Auto-Ancillary Q3 Earnings Preview: Smart Performance Improvement On The Cards, Says ICICI Direct 

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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:

ICICI Direct Auto Ancillary Q3FY21 Result Preview.pdf

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