Higher sales of Brezza and Balena helped Maruti report better realisations in third quarter, said shwin Patil, Research Analyst, LKP Securities.
The EBITDA margins were a bit lower at 14.8 percent compared to CNBC-TV18 poll estimate of 15.5 percent.
However, both Pranoy Kurian of IDBI Capital Markets & Securities and Ashwin Patil, Research Analyst, LKP Securities are not worried about the slip in margins and expect the company to report higher margins going forward on back of new launches and commissioning of Gujarat plant.
Kurian said margins at 14.8 percent were higher than their estimate of 14.4 percent and that too in a tough quarter where there was pressure from higher commodity prices, lower utilisation and demonetisation.
Realisations were higher at Rs 4.35 lakh/unit compared to Rs 4.26 lakh/unit in Q2. This was possible because of higher sales of Brezza and Baleno, said Patil.
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