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M&M outpaces rivals with strong PV volume growth, margin expansion in Q2; becomes Jefferies’ top auto pick

The Indian Passenger Vehicle industry experienced a subdued September quarter, with Original Equipment Manufacturers reporting varied performance in terms of volume growth and margin trajectories. In contrast, Maruti Suzuki India, Tata Motors, and Hyundai Motor India reported volume declines of 2–9% YoY during the same period. > Tata Motors India PV: EBIT margin declined by 10 bps QoQ and a …

Operating leverage is a double-edged sword, and Tata Motors Ltd illustrates this well. This anticipated rebound in operating leverage may explain why Tata Motors' shares showed resilience on Monday despite a weak Q2 earnings report. Tata Motors’ presentation indicates that the lower volumes alone reduced the Ebit margin by 214 bps, though the company managed to offset some of the …

Margin

Ebit Margin

Infosys Q4 results: Infosys Ltd will declare its results for the March quarter on April 18 and is expected to declare a muted growth 3-4 per cent year-on-year growth in sales while Ebit margin is seen contracting marginally on a sequential basis amid wage hikes during the quarter. Infosys Q4 results: Infosys results come after IT major Tata Consultancy Services …

TCS likely to see muted revenue growth in Q1FY24; EBIT margin may contract

Tata Consultancy Services, the largest software services exporter in India, will announce its earnings for the first quarter of FY24 on July 12. According to Emkay Global Financial Services, TCS may see 1.3% QoQ USD revenue growth factoring 30 bps cross-currency tailwinds. The brokerage house expects the company’s EBIT margin to decline by 100 bps QoQ due to wage hike, …

Tata Consultancy Services posted healthy growth in Q4 of FY23, however, it broadly missed the street's expectations for the quarter. But the stock may come under pressure as TCS PAT growth is below estimates, could not sustain margins, and the BFSI segment seeing single-digit growth. Mitul Shah - Head of Research at Reliance Securities said, "TCS reported subdued performance in …

Margins