#Daily voice series#

So sectors like Cement, Speciality Chemicals, Consumer Durables will see some pressure, in our view. Sectors where pricing power is low will be challenged in the near term, given the twin headwinds of elevated input cost inflation and modest demand. What are the sectors that could continue seeing earnings pressure in Q1FY23, and why? We expect big tier-IВ Infotech companies to leverage several margin levers (Off/Onshore mix, pyramid rationalisation, better utilisation, sub-contractor cost management) to manage margins. Good demand visibility, strong balance sheet and excellent cash flow generation coupled with elevated pay-out ratios provide us comfort despite near-term global headwinds. We continue to like IT space but our preference is predominantly for largecap, Tier-IВ Infotech stocks. We made marginal and modest downward revisions to our IT earnings forecast for FY23, ranging from 2-7 percent. As a result, have you revise your earnings estimates (downwards) for IT space? Also what are the stocks to pick in the space? Global growth concerns battered IT stocks the most this calendar year including midcap IT stocks. Sectors which missed our expectations for Q4FY22 are Healthcare, Consumer Durables, PSU Banks. Automobiles also delivered a beat in Q4FY22 after a long time. These three sectors accounted for 83 percent of incremental earnings for FY22 YoY. Sectors which drove the earnings for Q4 and FY22 both were BFSI, Metals and Oil & Gas.

NiftyвЂ™s FY22 earnings were up 35 percent. The Q4FY22 corporate earnings were up 21 percent and our broader MOSL coverage universe each. What are your thoughts on overall corporate earnings season that has just ended? What are the major likes and dislikes in terms of performance?Дespite the adverse macro-economic backdrop and global concerns on inflation, rates and quantitative tightening, one silver lining for India has been a very resilient corporate earnings delivery in both FY21 and FY22.

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#Daily voice series#

Interview Series Business In The Week Ahead.