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Moneycontrol Pro Panorama | Autos on the road to recovery

In today’s edition of Moneycontrol Pro Panorama: Gland Pharma’s poor streak cause for concern, no signs of recovery for Colgate, bailout cannot avert Pakistan's crisis, Indian economy needs a time-out, and more

January 25, 2023 / 03:45 PM IST
The Q3FY23 results signal that the worst is behind auto original equipment manufacturers. 
(Representative image)

The Q3FY23 results signal that the worst is behind auto original equipment manufacturers. (Representative image)

Dear Reader, 

The Panorama newsletter is sent to Moneycontrol Pro subscribers on market days. It offers easy access to stories published on Moneycontrol Pro and gives a little extra by setting out a context or an event or trend that investors should keep track of.

The December quarter (Q3 FY23) results signal that the worst is behind auto original equipment manufacturers (OEMs). Tailwinds from pricing power and softening input costs are clearly working in their favour.

Passenger car leader Maruti Suzuki India (Maruti) led the pack, turning in a robust 306 basis points (bps) year-on-year (yoy) expansion in operating margin. Two-wheeler maker TVS Motor Company (TVS) too rode out of the quarter with resilient margins.  Key gains are trickling in from softening metal and crude prices that dented profit margins across manufacturing sectors for nearly six to eight quarters.