Prabhudas Lilladher: Tata Steel Q2 Review - Riding On Risk Of Peaked-Out Margins
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.
Prabhudas Lilladher Report
Tata Steel Ltd. reported Q2 FY21 adjusted Ebitda above our/consensus estimates by 10%/31% at Rs 54.3 billion (up 35 YoY/4.2 times QoQ).
The beat was largely led by better earnings in subsidiaries.
Impacted by weak spreads, Tata Steel Europe reported Ebitda loss of 62 million U.S. dollar (versus our estimate loss of 61 million U.S dollar).
Indian operations earnings came in line with our estimates however beat consensus estimates by 25%.
Click on the attachment to read the full report:
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.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.