Capital Goods, Defence, PVC Pipes Earnings Preview - Another Strong Quarter On The Cards: Reliance Securities

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Reliance Securities Report

We expect another strong quarter for the companies under our Capital Goods, Defence and PVC Pipe sector coverage universe led by pent-up demand for select products and gradual up-tick in economic activities.

India is expected to witness mammoth investment in infrastructure by FY25E, as envisaged by National Infrastructure Pipeline.

Again, the government’s thrust on domestic manufacturing through ‘Make in India’ and ‘Atmanirbhar Bharat’ initiative is likely to benefit the domestic players.

We continue to believe that the PVC Pipe sector is well-placed to reach ~ Rs 500 billion by FY25E by clocking 10% compound annual growth rate over FY20-25E driven by the government’s initiatives.

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