Q3 FY13 Results Preview
Indian Auto OEMs witnessed a decent volume performance in Q3 FY13 when compared with Q3 FY12. However, this has to be seen along with the fact that the impact of inventory built up for festive season happened in September 2011 vis-à-vis October 2012. On the other hand macro environment has been difficult given that fuel prices have remained high and there has been no respite on interest rates. Consequently, M&HCV was the most impacted segment leading to sharp falls for both Tata Motors and Ashok Leyland. Strong growth in LCV volumes helped arrest the decline for both players. Maruti witnessed robust growth both on sequential and yoy basis owing to the impact of shutdowns in respective periods. Two-wheeler players witnessed flattish quarter but most domestic players lost market share. M&M continued to see strong growth in its automotive segment, while tractor volumes saw sequential recovery on the back of late revival in monsoons.
Q3 FY13 volumes
|Company Name||Q3 FY13||Q3 FY12||Q2 FY13||yoy (%)||qoq (%)|
|Company||Sales (Rs mn)||OPM (%)||PAT (Rs mn)|
|Q3 FY13||yoy (%)||qoq (%)||Q3 FY13||yoy (bps)||qoq (bps)||Q3 FY13||yoy (%)||qoq (%)|
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