Q4 FY21 Earnings Takeaways - Strong Performance; Managements Cautious On Near-Term Uncertainty: Motilal Oswal
A man looks over numbers on an electronic stock board in central Tokyo, Japan. (Photographer: Charles Pertwee/Bloomberg News)

Q4 FY21 Earnings Takeaways - Strong Performance; Managements Cautious On Near-Term Uncertainty: Motilal Oswal

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Motilal Oswal Report

In this report, we present detailed takeaways from the Q4 FY21 conference calls as we refine the essence of India Inc. – ‘Voices’.

  • The Q4 FY21 corporate earnings season maintained the momentum from the Q3 FY21 earnings season, as strong demand revival and a subdued base benefitted corporate India’s earnings. However, with rising raw material prices and the onset of the second wave in Q1 FY22, managements have turned slightly cautious on demand revival in Q1 FY22 – although they remain confident of demand revival post the transitory impact of the second wave.

  • With an upgrade (more than 5%) to downgrade ratio (less than down 5%) of 1:2, the cautious outlook and impact of rising raw material prices on companies have raised earnings downgrade risks.

  • 39% of the companies in our coverage universe beat Q4 FY21 estimates, while 33% reported below-estimate results.

Click on the attachment to read the full report:

Motilal Oswal Strategy Voices - Q4FY21 Earnings Reviews.pdf

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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.

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