India Equity Strategy: Commodity pressure easing, margin expansion on the cards
Aggregate revenue/PAT grew by 19%/6% YoY across the HSIE coverage universe (~208 stocks), their three-year CAGR being 15%/15%
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Escorts Kubota Ltd - Growth Outlook Intact; Maintain BUY
The growth trend in the domestic tractor industry is likely to continue in Q4FY23 and industry volumes are likely to cross peak volumes of 9 Lc...
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Automotive Industry - CVs, PVs Outperform
The domestic CV wholesale volumes registered positive momentum with 9% YoY growth in Jan’23, which was driven by the pick-up in infrastructure...
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Auto Q3FY23 Preview - Margin Recovery Likely in Q3
We expect Revenue/EBITDA/PAT of Auto OEMs to grow at 17%/39%/45% YoY in Q3FY23. However, we expect Auto OEMs to post de-growth of 6%/1.5%/2.3% on a...
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Q3fy23 Preview: Margins Likely to Expand
We believe the broad-based earnings momentum which remained robust for multiple quarters is likely to take a brief pause in Q3FY23.
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