Antique Stock Broking in an earnings preview note said its coverage defence manufacturers may report a combined 17 per cent YoY growth in Q2, led by robust execution of order book. Operating margins for Antique's defence universe is expected to decline 160 basis points for the quarter mainly impacted by softer quarterly margins for Hindustan Aeronautics Ltd (HAL), Bharat Electronics Ltd (BEL), Mazagon Dock Shipbuilders Ltd and Cochin Shipyard Ltd. Advertisement

Antique expects its coverage defence universe to report 7.6 per cent YoY increase in PAT, saying QoQ growth would be stronger at 27.6 per cent. At an aggregate level, business outlook with regards to ordering and medium term prospects and supply chain issues across some companies would be the key monitorable, it said.

Antique sa

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