Automotives Q4 Results Preview - Four-Wheelers To Perform Better Versus Two-Wheelers: ICICI Securities

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..ICICI Securities Report.We expect Q4 FY24 YoY revenue/Ebitda/profit after tax growth of ~15%/~25%/~25% (excluding Tata Motors Ltd.) with commensurate contribution from revenue growth and Ebitdam, pushing Ebitda growth. ~10% YoY volume growth in original equipment manufacturers, ~5–6% growth in average selling price and a dip in raw material cost would be the key triggers for robust YoY earnings growth. Ebitda growth would likely be more pronounced for auto ancillary players on a YoY- basis driven by a recovery in exports, premiumisation in domestic auto production, scaling up of demand from domestic OEMs along with raw material cost reversal. We expect tyre players to deliver strong YoY earnings growth of ~30% on the back of favorable raw material basket cost. Overall, within OEMs, we expect four-wheeler to deliver superior results versus two-wheeler players. Top picks: Mahindra and Mahindra Ltd. and Eicher in OEMS; CIE Automotive Ltd. and Samvardhana Motherson International Ltd. in ancillaries..Click on the attachment to read the full report:.Automobiles Q4 Results Preview - OEMS Continue To Deliver Robust Growth Performance: Axis Securities.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.

Automotives Q4 Results Preview - Four-Wheelers To Perform Better Versus Two-Wheelers: ICICI Securities

Strong performance by ancillary players

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