NEW DELHI: The industrial sector is likely to report a healthy quarterly performance for 4QFY24 driven by a healthy opening order book, continued execution momentum and healthy demand.
"Ordering activity, by central government on sectors such as defence, roads, rail/metro-rail, power T&D etc and from private sector (data centres, renewables, real estate and process industries like steel and cement) is likely to continue its momentum, thereby driving order inflows, " JM Financial Institutional Securities said.
“We continue to remain positive on the sector mainly, factoring in continued push by the government on infrastructure development and making India a manufacturing hub, ” the research said.
“We continue to maintain our positive stance on the sector given government-led infrastructure capex, PLI scheme-led capex in multiple sectors and pick up in private sector capex (renewables, data centres, cement, steel, ), ” the brokerage said.
BEL provisional number for FY24 indicates a revenue growth of 30 per cent YoY for 4QFY24 driven by strong opening order book (Rs 762 billion) and is also aided by revenue spill of over Rs 4-5 billion from 3Q to 4QFY24. BEL continued to report healthy order inflows and reported order inflows of Rs 78 billion in 4Q, the brokerage said.