Balkrishna Industries - 2021 Starts With Robust Demand Growth: ICICI Securities
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 Securities Report
Balkrishna Industries Ltd.’s key export markets have reported robust demand (February 2021 industry exports grew 24% YoY).
The latest industry export data (February 2021) maintained a balance with agriculture demand (up ~23% YoY), while off-the-road grew at 25%.
The latest data continues to support the V-shaped demand rebound: Year-to-date/quarter-to-date industry exports are up 11%/27% YoY respectively.
On a regional basis, in Feb-21, growth was led by U.S. (up 39% YoY), followed by the Rest of World region (up 36%) while Europe grew 12% (base effect).
The pace of export growth in Q4 currently remains ahead of consensus expectations.
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.