India Strategy, Top Picks, Q1 FY22 Earnings Review - Triggers Abound For Treasure Hunt: Prabhudas Lilladher
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Prabhudas Lilladher Report
Q1 FY22 has seen 1.7% beat on aggregate sales and 3% on Ebitda, profit after tax growth has been lower than estimates by 5.1%.
Demand was strong in first half of April, followed by Covid-19 impact till May end and gradual recovery from June.
Aggregate revenues grew 57.5%, Ebitda grew 56.9% and profit after tax grew 128%.
Numbers optically look strong due to low base of Q1 FY21.
Maximum beat from estimates was recorded in metals, cement, infra and travel and tourism.
1Q FY22/FY20 sales, Ebitda and profit after tax grew by 5.9%, 25.2% and 29.6%.
Metals, cement, agri, IT and pharma reported 20-35% sales growth. Aviation, Education, Media and Travel remained impacted with 46-67% lower sales than Q1 FY20.
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