Automobiles Q3 Results Preview - Strong Performance Aided By Festive Cheers: Prabhudas Lilladher

NDTV Profit’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 NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Prabhudas Lilladher Report.We expect Q3 FY24 to show strong revenue and Ebitda improvement with 17%/36% YoY growth respectively, given strong double digit volumes growth by two wheeler original equipment manufacturer and continued growth in the private vehicle segment, additionally helped by operating leverage and benign commodity prices.In Q3 FY24, auto industry witnessed overall strong double digit volumes of 17% on the back of strong growth in domestic two-wheelers and three wheeler. For our OEM coverage universe, we expectaggregate revenue to grow by plus 20% YoY (including Jaguar Land Rover; plus 16% excluding JLR) owing to sharp rise in volumes plus better mix andEbitda margin to expand ~150 basis points YoY (including JLR) led by lower commodity cost and superior product mix. Commodity costs to remain benign and will continue to aid margins in the coming quarters.For our coverage universe we roll-forward our estimates by one quarter and change our FY24-26E Ebitda estimates in -3% to plus 9% range. Top picks are Tata Motors Ltd., Maruti Suzuki India Ltd., and Divgi Torquetransfer Systems Ltd..Click on the attachment to read the full report:.Power Mech Secures Rs 825 Crore Project From Mahan Energen.DISCLAIMERThis report is authored by an external party. NDTV Profit 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 NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Automobiles Q3 Results Preview - Strong Performance Aided By Festive Cheers: Prabhudas Lilladher

Margin expansion to continue aided by operating leverage and lower cost

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Automobiles Q3 Results Preview - Strong Performance Aided By Festive Cheers: Prabhudas Lilladher

Margin expansion to continue aided by operating leverage and lower cost

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