Motilal Oswal's research report on Escorts Kubota
ESCORTS’ performance was severely impacted by inflationary pressures across all fronts in 2QFY23. While the outlook for 2HFY23 has improved, margin recovery will take a little longer, considering the largely unabsorbed cost inflation.
Outlook
We reduce our FY23E/FY24E estimate by 11%/2% to factor in higher cost pressures. We maintain our Neutral rating with a TP of INR1,875.
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