Tatva Chintan - Delay In EU 7 Implementation Poses Risk To SDA Growth: Nirmal Bang

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..Nirmal Bang Report.As per press reports, the European Parliament has recently approved the EU 7 norms (originally introduced in 2022) related to limiting vehicle emissions. The actual implementation of these norms is not likely any time before the start of FY28 (initial expectation of FY26). While the management has guided for strong growth in structural directing agents in FY25 (after two consecutive weak years), we believe that the EU 7 related incremental demand from USA and the Europe will be pushed further down the line and overall SDA growth might moderate post FY25 till FY27. We believe that delay in scale-up of ex-SDA portfolio due to demand challenges, China dumping and lack of certainty on consistent growth in SDA might lead to consensus earnings downgrades over next two years. Maintain Sell after roll forward of valuation to FY26E..Click on the attachment to read the full report:.Reliance Industries - Turning New Energy Vision To Action: Motilal Oswal.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.

Tatva Chintan - Delay In EU 7 Implementation Poses Risk To SDA Growth: Nirmal Bang

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