ICRA rating agency expects the toll collections to witness a high single-digit growth in FY19, followed by a double-digit growth in FY20, due to the strong growth in sales of medium and heavy commercial.
We expect the cement companies in our coverage universe to report a tepid performance in the quarter ended December 2018, with average EBITDA margin at 15.4% versus 16.9% in the quarter ended December 2017.
The 3QFY19 quarter is likely to witness healthy revenue growth for capital goods and consumer electricals sectors. The revenues of companies in our coverage universe are likely to rise 13.2% YoY in 3QFY19.
We expect the companies in our coverage universe to report a decline in 3QFY19 earnings on YoY as well as QoQ basis on account of multiple headwinds like waning demand, unfavourable operating scenario and rising commodity costs.
In 3QFY19, both Inox Leisure and PVR delivered good stock performance after a poor 2QFY19. Inox Leisure was up 9% and PVR was up by a stellar 30% whereas in 2QFY19, Inox Leisure and PVR stock prices were down 16%/12%, respectively.
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