External broker reports(aggregated public sources), Topline Securities

Topline Securities

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>Millat Tractors (MTL) conducted its corporate briefing session today, where the management discussed the financial performance and the future outlook of the company.</li><li>MTL sold 18,622 tractors in FY23 and is targeting to sell 26,000-30,000 tractors in FY24.</li><li>Management highlighted that the 47% YoY decline in volumetric sales in FY23 is 18.6k units from 35k units in FY22, was attributed to the catastrophe caused by the floods in Pakistan.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Millat Tractors (MTL) conducted its corporate briefing session today, where the management discussed the financial performance and the future outlook of the company.MTL sold 18,622 tractors in FY23 and is targeting to sell 26,000-30,000 tractors in FY24.Management highlighted that the 47% YoY decline in volumetric sales in FY23 is 18.6k units from 35k units in FY22, was attributed to the catastrophe caused by the floods in Pakistan.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Topline Flash Note: Millat Tractors Limited (MTL): Corporate Briefing Key Takeaways