Below are views on Tata Consumer just announced their Q4FY21 results. By Himanshu Nayyar, Lead Analyst - Institutional Equities, YES SECURITIES
Result Highlights CREDAG’s performance in Q4 FY21 was stronger than expectations, adjusted for:
* Provisions related to accelerated write‐offs (3%/..
* Reported very strong revenue growth of 7.1% QoQ (up 5.1% QoQ in constant currency). In INR terms, it was up 6.0% QoQ (adversely impacted by INR app..
* It reported strong result with revenue growth of 4.6% in USD term to $447.4mn (up 4.4% QoQ in CC terms). In INR terms, revenue grew 3.7% QoQ, adver..
Consolidated revenue stood at Rs 1496bn (+27% QoQ; +10% YoY) on 21% & 25% sequentially higher O2C &Retail revenues, even as Dig..
Strong demand momentum to continue, margin headwinds transient
* Quarter summary – Revenue growth of 34.5% yoy with 25% domestic volume grow..
Q4 FY21 was a strong quarter for IIB is many ways viz,
* Robust growth recovery in focus products/segments of Microfinance, Vehicle Finance, Gems ..
* In Q4 FY21, ESFB experienced incremental normalcy in business volumes (except in Microfinance) and achieved pre‐Covid collections in the current ..
* Revenue grew by 6% YoY mainly led by Indian market (+4.7% YoY), ROW (+76.5% YoY) and API (+38.1% YoY),
* US declined by 18% YoY larg..
* Dalmia’s Q4FY21 performance was slightly ahead of our estimates with volumes at 6.42 MT (+24% y/y and 3.5% ahead of our est.) while healthy beat on E..
* AU SFB’s performance in Q4 FY21 was a mixed bag with strong performance on business volumes/growth and some disappointment in the form of inc..
* Strong performance across the board; India, US clocked 20% growth while India revenue rise of 23% came in as a surprise
* Africa ins..
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