Capital Goods Q1 Results Preview - Domestic Orders To Moderate; Margins In Focus: Prabhudas Lilladher

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Heavy machinery operating inside a factory. (Source: pexels/ Kateryna Babaieva)

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Prabhudas Lilladher Report

We expect our capital goods coverage universe to report healthy performance in Q1 FY25 owing to-

  1. the execution of robust opening order books,

  2. continued capex-led demand in the domestic market, and

  3. strong traction in certain key export segments such as ETCA, turbines and power.

Overall, we expect revenue/Ebitda growth of ~11%/23% YoY (~13%/41% YoY excluding -L&T). European demand, execution pace, order and enquiry pipeline, and supply chain constraints will be key monitorables.

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Our top picks are Praj Industries, Triveni Turbine, and Apar Industries.

Click on the attachment to read the full report:

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