Q4 Earnings Review - Impressive All-Round Performance, Ending Fiscal Year On High Note: ICICI Direct
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Q4 Earnings Review - Impressive All-Round Performance, Ending Fiscal Year On High Note: ICICI Direct

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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

Corporate earnings staged an impressive show in Q4 FY21 and were broadly ahead of estimates.

Outperformance was led by increase in key commodities prices benefitting the oil and gas and metals space amid strong underlying demand prospects.

Robust goods and services tax collection is a testimony to our belief with April GST collection pegged at an all-time high of ~Rs 1.4 lakh crore, corresponding to robust consumer demand in March 2021.

At the Nifty index level, excluding financials, net sales grew 14% QoQ with margin declining ~100 basis points QoQ to 17.9% with corresponding Ebitda growth at 8% QoQ.

Click on the attachment to read the full report:

ICICI Direct Earnings Wrap Q4FY21.pdf

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