Q1 FY25 Results Review - Domestic Cyclicals Ignite Resilience; OMCs Temper Corporate Earnings: Motilal Oswal

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..Motilal Oswal Report.OMCs temper corporate earnings: The Q1 FY25 corporate earnings came in line, with overall growth primarily being propelled once again by domestic cyclicals. Notable contributions were observed from the healthcare, real estate, capital goods, and metals sectors. In contrast, earnings growth was adversely affected by OMCs. For Banks, Q1 has been a seasonally slow quarter, and most of the banks have reported slower deposit growth too in Q1 FY25. We cut our growth estimates for many of the banks amid slower deposit growth and a higher credit/deposit ratio across several banks and the system. Most of the banks have raised their deposit rates in Q1 FY25 amid rising competition in deposits. Banks are still increasingly relying on the bulk TDs and CDs to fund their asset growth..Within NBFC/HFC, various management teams highlighted the following:disbursements in the mortgage segment were hit by the RBI Fair Practices Code circular in addition to Q1 being the seasonally weakest quarter;asset quality deteriorated across most product segments because of elections, heat waves, higher attrition rates, and even the impact on customers’ earnings;the MFI segment, in particular, is experiencing lower collections and slippages into forward buckets due to customer over-leveraging,borrowing costs largely peaked out and everyone is looking forward to repo rate cuts; andcompetitive intensity in gold loans, from both banks and NBFCs, moderated..Click on the attachment to read the full report:.FMCG Q1 Results Review - Summer Sales Up But Dragged By The Elections; H2 To Be Better: Anand Rathi.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.

Q1 FY25 Results Review - Domestic Cyclicals Ignite Resilience; OMCs Temper Corporate Earnings: Motilal Oswal

The report contains key takeaways from the post results management commentary for 230 companies, with links to the full earnings call transcripts

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Q1 FY25 Results Review - Domestic Cyclicals Ignite Resilience; OMCs Temper Corporate Earnings: Motilal Oswal

The report contains key takeaways from the post results management commentary for 230 companies, with links to the full earnings call transcripts

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