Capital Goods Q3 Earnings Preview: Robust Execution, Order Inflows To Aid Growth, Says ICICI Direct
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ICICI Direct Report
Q3 FY21E is likely to be a reasonable quarter for the capital goods universe in terms of order inflows while execution may further improve sequentially as we expect execution pick-up with workers almost returning to sites reaching more than approximately 95% of pre-Covid-19 levels during the quarter amid normalising economic activities.
Product companies are likely to post a decent quarter amid rebound in key industries like automobile and industrials.
Key risks remain project delays/deferrals and less-than-expected conversion of the tendering pipeline.
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