ACE declared their Q1 results last week
- Revenue: 703Cr vs 761 Cr YoY (-7.7%)
- Net Profit: 97 Cr vs 84.2 Cr YoY (+16%)
- Sales was muted in Q1 due to multiple factors, the change in emission norms, Indo-Pak conflict, early monsoons.
- NP growth was primarily due to Price increases
- Q2 is also muted, maybe by mid-Sep more clarity will be there if Sales Volumes will recover.
- Mgmt says Vahan data has a lag of 1-2 months
- KATO JV agreement is not yet done. Work on JV will start in Q3. Surprised this is not closed yet.
- Q2 might also be lack luster, although mgmt. is bullish in medium to long term.
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