GNA Axles Delivers Strong Q3; Outlook Remains Progressive: IDBI Capital

BQ Blue’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 BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..IDBI Capital Report.GNA Axles Ltd. Q3 FY21 result was above our estimates on revenue and Ebitda level whereas Ebitda margin was below our estimates due to higher raw material cost and employee expenses.Revenue for the quarter stood at Rs 2.8 billion above our estimates on account of strong orders from Meritor and domestic tractor players.We believe North America /South America/ European market has seen strong recovery post June20.We expect domestic medium and heavy commercial vehicle truck market to perform relatively better in H2 FY21 on account of economic growth recovery, higher road/construction activities and approximately 15% growth for tractor Industry for FY21..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint 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 BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

GNA Axles Delivers Strong Q3; Outlook Remains Progressive: IDBI Capital

GNA Axles Delivers Strong Q3; Outlook Remains Progressive: IDBI Capital

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