Q3 Earnings Review And Strategy - Stepping Up The Accelerator: Prabhudas Lilladher
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Prabhudas Lilladher Report
Q3 FY21 had broad based earnings beat as aggregate sales were higher than estimates by 3.9%, Ebitda by 4.3% and profit before tax by 6% reported sales increased by 0.6%, Ebitda increased by 16.1% and profit before tax by 37.8% YoY.
Consumer durables, metals and cement had fastest topline growth. Metals followed by consumer durables and cement had highest Ebitda growth at 123% and 50%.
Metals, cement, auto and consumer durables had highest PBT growth. Festival season demand has been robust, although Jan has been relatively soft.
Q4 and Q1 should report good numbers on a low base, although margins have peaked out due to rising commodity prices and bottomed out spends on advertising, marketing and overheads.
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