Q4 Earnings Review - A Strong Close To FY21; Cyclicals Lead The Beat: Motilal Oswal
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.
Motilal Oswal Report
Corporate earnings in the last quarter of FY21 continued the momentum of the preceding two quarters and ended the year on a good note, aided by the deflated base in Q4 FY20 and healthy demand recovery for a large part of Q4 FY21.
However, Q1 FY22 has seen a familiar disruption, with the second Covid-19 wave engulfing India and several states imposing lockdowns in April 2021 and May 2021.
The trend of earnings revision has changed in favor of downgrades again in Q4 FY21 after two consecutive quarters (Q2 and Q3 FY21) of upgrades.
The downgrade-to-upgrade ratio stood at 1.6:1.
The second Covid-19 wave peaked in May-21 and active cases are currently 80% below its peak.
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 author entity 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.