Auto And Auto Ancillary Q4 Earnings Preview -  Lower Base Aids Topline: ICICI Direct 
Workers weld and fix parts to the interior of a SUV body shell on the assembly line. (Photographer Andrey Rudakov/Bloomberg)

Auto And Auto Ancillary Q4 Earnings Preview - Lower Base Aids Topline: 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

The auto industry continued to benefit from relatively healthy demand trends in the post-festive months, with a sharp sequential jump in the commercial vehicle space being a particular highlight.

Broad-based general positivity stayed intact as other segments (excluding three-wheeler, buses) i.e. two-wheeler, passenger vehicle and tractors, also performed well.

For our auto and auto ancillary coverage universe, topline performance is expected to be robust in YoY terms amid double digit volume growth, BS-VI price hikes and base effect (Covid-19 impacted Q4 FY20).

However, we expect the steep increase in commodity costs over the past few months that did not come through in Q3 FY21 financials to surface now.

Click on the attachment to read the full report:

ICICI Direct Auto Ancillary Q4FY21 Result Preview.pdf


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.

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