April 23, 2024 22:29 (IST)
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Auto ancillaries under pressure from Omicron wave, commodity inflation: ICRA

Auto ancillaries under pressure from Omicron wave, commodity inflation: ICRA

New Delhi/UNI: A combination of commodity inflation and intensifying Omicron wave is set to keep the operating margins of Indian auto ancillaries under pressure in H2 of FY2022 as a result of which the operating margins (excluding tyres) is expected to contract by 75-125 bps and will remain lower than the normal levels of 11-12 percent, an ICRA analysis of the auto components industry shows.