Metals Q1 Results Preview - Strong Quarter Aided By Healthy Realisation: ICICI Direct
Hammers and other tools lay on the floor of a small metal factory in India. (Photographer: Sanjit Das/Bloomberg)

Metals Q1 Results Preview - Strong Quarter Aided By Healthy Realisation: ICICI Direct


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

For Q1 FY22E, we expect domestic steel companies to report a healthy quarter (in terms of Earnings before interest, taxes, depreciation, and amortization/tonne), driven by higher steel prices.

For the quarter, on a QoQ basis we expect blended realisation of steel companies to be higher in the range of Rs 6,000-7,000/tonne (for our coverage universe), wherein the price increase is higher for flats than longs. Subsequently, on a QoQ basis for our coverage universe, we expect Ebitda/tonne of steel companies to increase in the range of ~Rs 4,000-5,000/tonne.

Click on the attachment to read the full report:

ICICI Direct Metals Mining Q1 Preview July 10.pdf


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