ICICI Direct: India Inc Q2 Review - Earnings Outperform, Post-Covid Recovery Picks Up Steam
Emissions rise from chimneys at a plant in Uran, India. (Photographer: Dhiraj Singh/Bloomberg)

ICICI Direct: India Inc Q2 Review - Earnings Outperform, Post-Covid Recovery Picks Up Steam

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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

Corporate earnings in Q2 FY21 came in better-than-expected wherein companies benefitted from low raw material cost and realised operating leverage benefits with management commentary positive on pace of demand recovery and retaining some part of operating leverage gains in the post Covid world.

At the index level, excluding the Banking, Financial services and Insurance space; net sales fell ~10% YoY, primarily driven by double digit topline decline in the oil & gas space.

On the profitability front, Ebitda margins at the index level came in at a multi-quarter high at 18.9%, up 410 basis points YoY.

Click on the attachment to read the full report:

ICICI Direct Earnings Wrap Q2 FY21.pdf

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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 brokerage and do not represent the views of BloombergQuint.

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