- India Business: Includes a profit of 37.8 cr. on sale of land w/o which the EBITDA % would have been 15.7%.
- Europe Business: Demand remains strong and 6% positive effect of exchange rate fluctuations. Energy price reductions seen which affected margins positively.
- Overall, positive performance with highest ever margins (in line with CIE ratios, target is to reach CIE margins of 19%). Plan to maintain the same ratios in the coming quarters. India business to remain positive for better stability in Europe Region.
- Capex: 80% Capex focused in India. Europe Capex will depend on business acquired.
- Actively acquiring new business for EV business.
- Aims to beat overall market performance by 5-10% on a regular basis. Expects two-wheeler market to improve.
- Discontinued operation in German forging has received payment from customers and subsidy from German government, and sale process is continuing. Will be completed in the next 1-2 quarters.
Brokerages are putting in a TP of around Rs. 490 with expected revenues for CY23 to be around 9950-10050 crs. (Arihant giving revenues of 11100 crores) and PAT expectations between 850-850 crs.
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