Capital Goods, Consumer Durables Q2 Preview - Price-Led Topline Growth, Margins To Improve: Nirmal Bang
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Nirmal Bang Report
Revenue growth for capital goods and consumer durables sector in Q2 FY22 is expected to be ~19% YoY, which largely reflects price-led growth.
In consumer durables/electricals, July-August 2021 saw good offtake but September 2021 was muted.
Channel checks suggest that volume in Q2 FY22 was either flat YoY or declined across all product categories.
However, we have noted that a strong offtake in the business-to-business business will offset weakness in the business-to-consumer business.
Therefore, our revenue growth estimates largely reflect price-led growth.
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