CARE Ratings Q4 Review - FY21 Earnings Beat; Positive Changes Effected: Centrum Broking

Closeup of a calculator, and a financial statement. (Source: Wikimedia Commons)

CARE Ratings Q4 Review - FY21 Earnings Beat; Positive Changes Effected: Centrum Broking

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.

Centrum Broking Report

CARE Ratings Ltd.'s Q4 FY21 earnings were positive.

Revenue was a beat for Q4 and full year FY21 which flowed to the profit after tax that surprised positively.

In-line with management guidance, revenue for FY21 was similar to FY20.

Sales in FY22 would depend on FY22 gross domestic product growth which the company has revised lower from 11.2% to ~9%, due to the second Covid-19 wave.

We see a revenue compound annual growth rate of 13% over FY21-23E.

Alternate businesses may contribute one-third to sales over the next two-three years.

As part of the transformation efforts, the company has hired senior professionals while focus on new technology may lead to cost reduction benefits.

Click on the attachment to read the full report:

Centurm Broking CARE Ratings - Q4FY21 Result Update .pdf

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