External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>The company’s consolidated revenue grew by 11% YoY to Rs 3,130 Cr, with its domestic business growing by 8% (3% volume growth) and strong double-digit growth in HPC and HC segments as it continued to gain market share.</li><li>However, the Beverages segment got impacted owing to unseasonal rains. International business grew 21% YoY (in cc terms).</li><li>The management highlighted that the demand slump in rural areas has bottomed out and is now seeing a recovery and expects a further recovery in coming quarters. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The company’s consolidated revenue grew by 11% YoY to Rs 3,130 Cr, with its domestic business growing by 8% (3% volume growth) and strong double-digit growth in HPC and HC segments as it continued to gain market share.However, the Beverages segment got impacted owing to unseasonal rains. International business grew 21% YoY (in cc terms).The management highlighted that the demand slump in rural areas has bottomed out and is now seeing a recovery and expects a further recovery in coming quarters. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Dabur India - Recovery On the Cards; Maintain BUY

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul><li>We expect our consumer coverage to report revenue growth in mid-single-digits (6% yoy), driven by volume growth.</li><li>At an aggregate level, we expect revenue/EBITDA/net income growth of 5.6/6.3/6.7% respectively in 1QFY25.</li><li>Our ground checks suggest that the demand environment for FMCG products has started gradually improving because of (1) improving volume growth trends in rural areas on the back of a favourable base and the reducing impact of inflation</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We expect our consumer coverage to report revenue growth in mid-single-digits (6% yoy), driven by volume growth.At an aggregate level, we expect revenue/EBITDA/net income growth of 5.6/6.3/6.7% respectively in 1QFY25.Our ground checks suggest that the demand environment for FMCG products has started gradually improving because of (1) improving volume growth trends in rural areas on the back of a favourable base and the reducing impact of inflationContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

FMCG, QSR & Alco Bev (Q1FY25 Results Preview): On an improving trajectory

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

<ul>
<li>Vodafone Idea requests Rs.24,747 crore bank guarantee waiver for spectrum payments from DoT</li>
<li>Brookfield invests $550 million in Tamil Nadu's Leap Green Energy for renewable growth</li>
<li>Adani Ports commits $1.2 billion to Vizhinjam, Kerala's future container transshipment hub</li>
</ul>


Vodafone Idea requests Rs.24,747 crore bank guarantee waiver for spectrum payments from DoT
Brookfield invests $550 million in Tamil Nadu's Leap Green Energy for renewable growth
Adani Ports commits $1.2 billion to Vizhinjam, Kerala's future container transshipment hub


#29 India Insight: VI Bank Guarantee, Adani Ports Commits $1.2 Bn, Brookfield Investment

<ul><li>Ambuja Cement: We maintain ADD with an unchanged TP of INR 620/share (16.5x its consolidated FY26E EBITDA)</li><li>During Q4FY24, consolidated volumes rose 17% YoY owing to the low base and ramp-up of recently acquired Sanghi plants</li><li>Weak pricing across markets drove down NSR by INR 394/MT QoQ (-7%)</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Ambuja Cement: We maintain ADD with an unchanged TP of INR 620/share (16.5x its consolidated FY26E EBITDA)During Q4FY24, consolidated volumes rose 17% YoY owing to the low base and ramp-up of recently acquired Sanghi plantsWeak pricing across markets drove down NSR by INR 394/MT QoQ (-7%)Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily: Ambuja Cement, Havells India, Dabur, ACC

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/honasa-consumer-ltd" target="_blank" data-smartkarma-citation="entities:36117:1" rel="noopener">Honasa Consumer (HONASA IN)</a> raised about US$200m in its India IPO. Its pre-IPO investors will be released from its IPO linked lockup soon.</li>
<li>HC’s product portfolio includes products in the baby care, face care, body care, hair care, color cosmetics and fragrances segments.</li>
<li>In this note, we talk about the upcoming lock-up expiry and possible deal dynamics.</li>
</ul>



Honasa Consumer (HONASA IN) raised about US$200m in its India IPO. Its pre-IPO investors will be released from its IPO linked lockup soon.
HC’s product portfolio includes products in the baby care, face care, body care, hair care, color cosmetics and fragrances segments.
In this note, we talk about the upcoming lock-up expiry and possible deal dynamics.


Honasa Consumer IPO Lock-Up Expiry - US$500m+ Lockup Expiry with Everyone Well in the Money

India

Dabur India Ltd. manufactures soaps, detergents, hair oils, tooth powders, antacids and processed foods. The Company sells its products worldwide.

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Dabur India Ltd (DABUR IN)

Dabur India - Recovery On the Cards; Maintain BUY

The management highlighted that the demand slump in rural areas has bottomed out and is now seeing a recovery and expects a further recovery in...

Axis Direct

FMCG, QSR & Alco Bev (Q1FY25 Results Preview): On an improving trajectory

We expect our consumer coverage to report revenue growth in mid-single-digits (6% yoy), driven by volume growth. At an aggregate level, we expect...

HDFC Securities

#29 India Insight: VI Bank Guarantee, Adani Ports Commits $1.2 Bn, Brookfield Investment

Vodafone Idea seeks waiver for spectrum payments, Brookfield invests in Leap Green Energy, Adani Ports commits to Vizhinjam container hub.

Sudarshan Bhandari

HSIE Results Daily: Ambuja Cement, Havells India, Dabur, ACC

During Q4FY24, consolidated volumes rose 17% YoY owing to the low base and ramp-up of recently acquired Sanghi plants. Weak pricing across markets...

HDFC Securities

Honasa Consumer IPO Lock-Up Expiry - US$500m+ Lockup Expiry with Everyone Well in the Money

Honasa Consumer (HONASA IN) raised about US$200m in its India IPO. Its pre-IPO investors will be released from its IPO linked lockup soon.

Sumeet Singh

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52-week Range

Market Cap (USDm)

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Dividend (Yield)

Dabur India - Recovery On the Cards; Maintain BUY

The management highlighted that the demand slump in rural areas has bottomed out and is now seeing a recovery and expects a further recovery in...

Axis Direct

FMCG, QSR & Alco Bev (Q1FY25 Results Preview): On an improving trajectory

We expect our consumer coverage to report revenue growth in mid-single-digits (6% yoy), driven by volume growth. At an aggregate level, we expect...

HDFC Securities

#29 India Insight: VI Bank Guarantee, Adani Ports Commits $1.2 Bn, Brookfield Investment

​Vodafone Idea seeks waiver for spectrum payments, Brookfield invests in Leap Green Energy, Adani Ports commits to Vizhinjam container hub.

Sudarshan Bhandari

HSIE Results Daily: Ambuja Cement, Havells India, Dabur, ACC

During Q4FY24, consolidated volumes rose 17% YoY owing to the low base and ramp-up of recently acquired Sanghi plants. Weak pricing across markets...

HDFC Securities

Honasa Consumer IPO Lock-Up Expiry - US$500m+ Lockup Expiry with Everyone Well in the Money

Honasa Consumer (HONASA IN) raised about US$200m in its India IPO. Its pre-IPO investors will be released from its IPO linked lockup soon.

Sumeet Singh

Vodafone Idea seeks waiver for spectrum payments, Brookfield invests in Leap Green Energy, Adani Ports commits to Vizhinjam container hub.