News: As per the exchange filing, MSIL has indicated cost inflation led further price hikes across its model starting Jan 2022.
Views:With recent softness in commodity prices, healthy underlying demand prospect and low channel inventory, the announced price hikes bodes well for the company and shall help in recovery of gross margins and net profitability going forward. The company reported ~100 bps erosion in gross margins in Q2FY22 and we had built in further 30 bps erosion in Q3FY22 amidst 1.2% QoQ rise in ASP’s to ₹ 5.15 lakh/unit in Q3FY22
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