Honeywell Automation Q4 Review - Buoyant Prospects Beyond The Near-Term Blip: Dolat Capital

Machines at the electronics lab at the Honeywell Quantum Computer Lab. (Photographer: David Williams/Bloomberg).

Honeywell Automation Q4 Review - Buoyant Prospects Beyond The Near-Term Blip: Dolat Capital

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.

Dolat Capital Report

Honeywell Automation India Ltd. reported sales of Rs 6.7 billion, down by 4.5% YoY (down 24% versus our estimate), a miss could be due to global shortage of semiconductors which are essentially used in manufacturing of field instruments like transmitter, programmable logic controllers, variable frequency drives.

Gross Margin stood at 50.6%, a contraction of 340 basis points YoY led by higher commodity prices.

Ebitda remained flat YoY at Rs 1.3 billion (down 32% versus our estimate).

Ebitda margin expanded by 95 basis points YoY to 19.2% led by rationalization of discretionary spending and lower travel expenses (employee cost and other expense declined by 51 basis points/ 383 basis points YoY).

Click on the attachment to read the full report:

Dolat Capital Honeywell Automation Q4FY21 Result Update.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.