Samvardhana, Suprajit Engg, Goodluck shares slip as BMW cuts FY24 guidance

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Samvardhana, Suprajit Engg, Goodluck shares slip as BMW cuts FY24 guidance - Business Standard

Quick Summary:

It added that the IBS-related technical actions impact over 1.5 million vehicles and will result in additional warranty costs in the vicinity of a high three-digit million amount in the third quarter.

The company stated, "the delivery stops for vehicles that are not already in customers hands will have a negative worldwide sales effect in the second half of the year.

The automaker also decreased its Return on Capital Employed (RoCE) guidance to the range of 11-13 per cent, from 15-20 per cent earlier.