India's Belrise falls as sequential declines in results offset YoY growth in Q1
BUZZ-India's Belrise falls as sequential declines in results offset YoY growth in Q1 ** Shares of automotive components maker Belrise Industries BELR.NS fall 5.9% to 240.38 rupees
** Company's June-quarter profit up 8.9% year-on-year but down 6.6% from the previous quarter, while revenue slipped marginally sequentially despite growing 12.6% annually
** Jefferies says revenue growth was driven by 16%-22% growth across two-wheelers, passenger and commercial vehicles, while EBITDA margin declined 90 bps from a year earlier amid higher commodity prices
** Stock trades at forward 12-month PE of 31.55 vs industry median of 27.15
** All six brokerages covering the stock rate it "buy" or higher, with their median PT at 250 rupees
** YTD, stock up 28.7% vs 1.5% fall in Nifty 500 Index .NIFTY500
(Reporting by Abhinav Parmar in Bengaluru)
Recent news on Belrise Industries
See all newsBrief: Belrise Industries Enters License And Technical Assistance Agreement With Yamato Co., Japan
India's Belrise falls as sequential declines in results offset YoY growth in Q1
Brief: Belrise Industries June-Quarter Consol Profit 1.22 Billion Rupees
Brief: Jost Werke To Divest Hyva's Tipper Body Business In India To Belrise Industries
Brief: Belrise Industries To Buy India Tipper Body Business Of Hyva (India)