BQ Blue's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages. These reports offer BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
IDBI Capital Report
GNA Axles Ltd. Q2 FY21 result was above our estimates on all parameters.
Revenue for the quarter stood at Rs 2.22 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 pandemic.
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 improving financial profile of fleet operators.
We expect revenue decline of 18% for FY21 due to weaker Q1, stable Q2 and strong recovery in Q3/Q4.
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