Motilal Oswal: Q1 FY21 Corporate Earnings Of 150 Companies - Commentary Improves On Demand; Covid-19 Caveat Remains

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.The Q1 FY21 corporate earnings were better than our muted expectations for both the Nifty and the Motilal Oswal Financial Services Ltd. universe.Nifty sales declined 29% YoY (versus estimate decline of 30%), while Ebitda/profit before tax/profit after tax declined 6%/30%/26% YoY (versus estimate decline of 11%/39%/35%).Six sectors posted YoY profit growth - Healthcare (27%), Utilities (16%), PSU Banks (10%), Life Insurance (4%), Private Banks (1%) and Technology (1%).The sectors that posted losses in line with our expectations were Automobiles, Metals, Retail and Telecom.Our FY21/FY22E Nifty earning per share estimates have been marginally revised upwards by 2.1%/2.7% to Rs 477/Rs 664 (prior: Rs 467/Rs 647).We now expect FY21 Nifty earning per share to grow 2.4% YoY.Breadth of earnings revision was positive - 84 companies in the MOFSL Universe saw upgrades of more than 5% while 40 witnessed downgrades of more than 5% for FY21.Corporate commentaries were cautiously optimistic based on gradual demand recovery June 2020 onwards due to easing of the lockdown restrictions..Click on the attachment to read the full report:.DISCLAIMERThis 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. .Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Motilal Oswal: Q1 FY21 Corporate Earnings Of 150 Companies - Commentary Improves On Demand; Covid-19 Caveat Remains

Motilal Oswal: Q1 FY21 Corporate Earnings Of 150 Companies - Commentary Improves On Demand; Covid-19 Caveat Remains

Choose a plan