Alcohol-Beverage, Hotel, Media, Retail, Telecom Q2 Quarterly Preview - Green Shoots Of Recovery: Dolat Capital

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Dolat Capital Report

After a lackluster H1 FY21 and Q1 FY22 that were impacted by pandemic, we expect Q2 FY22 (similar to Q3 FY21) to witness early signs of normalcy.

This is across the sectors viz. alcohol-beverage, retail, media and hotels sector.

Telecom was least impacted by Covid-19 and is likely to register healthy QoQ improvement in revenues driven by healthy subscriber additions, an extra day during the quarter and modest tariff increases in certain segments of post-paid and pre-paid plans.

AlcoBev especially Indian-made-foreign-liquor as a category is likely to register growth in prestige and above above pre-Covid-19 levels and benefit from stable raw material prices.

Beer as a category too would witness improvement in volumes but still would trail pre-Covid levels.

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