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Dolat Capital Report
Given the unprecedented surge in number of Covid-19 cases and lockdown in many cities, we expect April 2021 dispatches to decline steeply month-on-month (two-wheeler down 12% four wheeler down 10%, commercial vehicle down 40% YoY, tractor down 18%) as festive (Gudi Padwa and Navratri) and marriage season demand were severely hit.
Next month volumes are also likely to decline significantly as Covid-19 cases are skyrocketed and also impacting rural income and demand.
Footfalls and enquiries were down 40-50% month-on-month.
Moreover, supply chain issue is also disrupting production of many original equipment manufacturers.
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