Consumer Durables Q2 Earnings Preview - Demand Sustains But Disruptions A Worry: Prabhudas Lilladher
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Prabhudas Lilladher Report
Q2 continued to exhibit sustenance of demand momentum seen in June 2021 post unlock 2.0 before tapering off a little towards September 2021 end.
Industry witnessed broad based growth across product categories and geographies.
We expect our consumer durables universe to register a two year sales compound annual growth rate of 11.6% over 2019 given-
improving consumer confidence aided by rising vaccination counts
festive season sales and
retention of FY21 market share/ shelf space gains.
We expect sales/Ebitda/profit after tax YoY growth of 20%/13%/ 15% across our coverage universe.
Although commodity prices stabilised briefly in Q2, they continue to remain at elevated levels with London Metal Exchange spot copper/ aluminum prices up by 43%/55% YoY.
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