KRChoksey: Q2 Post Earnings Review - Phase-Wise Unlocking Drives Gradual Recovery
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Gradual lifting of lockdown through phase-wise unlocking led to recovery in supply-chain operations, capacity utilisation and improvement in demand.
Sectors like cement and auto reported traction in demand and higher government spending on infrastructure projects.
However, re-imposition of lockdown in certain areas may lengthen the recovery phase of the overall economy.
As revenue growth is still in the recovery mode, companies continue to focus on maintaining cost to facilitate operating margins.
Companies have reported that demand in some rural areas are returning to pre-Covid-19 levels, while urban areas are still below normalcy.
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