Capital Goods, Power Q1 Preview - Reasonable Execution, Muted Inflows Amid Pandemic: ICICI Direct
A Larsen & Toubro Ltd. employee grinds metal inside a dome at the company’s heavy engineering division in Hajira, India. (Photographer: Prashanth Vishwanathan/Bloomberg)

Capital Goods, Power Q1 Preview - Reasonable Execution, Muted Inflows Amid Pandemic: 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

Q1 FY22E is likely to be a reasonable quarter for the capital goods universe in terms of execution amid the second wave impact while order inflows are expected to be muted owing to a delay in finalisation and order deferrals.

Product companies are likely to post a decent quarter YoY on a low base, aided by some lockdown relaxations provided to the manufacturing and infrastructure sector having lesser impact on supply chain and dispatches.

Larsen and Toubro Ltd. announced engineering, procurement and construction orders in the range of ~Rs 4500 crore to ~Rs 10500 crore (as on date, ex-services segment) across water treatment, transportation, buildings and factories segments indicating muted order inflows for the quarter amid a challenging environment.

Click on the attachment to read the full report:

ICICI Direct Capital Goods Q1FY22E Results Preview.pdf


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