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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HSIE Results Daily: Siemens, Eicher Motors, Bharat Forge, Torrent Power
Siemens: Siemens India Ltd (SIL) delivered robust Q1FY23 revenue/EBITDA/APAT of INR 36.5/5.5/4.4bn, beating our estimate by 0/32/43%
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Eicher Motors - Slight Miss on ASP; Long-Term Outlook Intact
Company has multiple levers to expand in the mid-weight segment in both domestic and export markets. The Super Meteor 650 has received a good...
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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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Autos (Q3FY23 Results Preview): CVs could outperform in Q3
In Q3, while 2W demand failed to pick up even in the festive season, PV, tractor and CV demand remained healthySupply chain constraints for major...
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