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>Outlook: We remain positive on the company’s long-term prospects, supported by the following factors: 1) The management’s guidance for continued double-digit volume growth in FY24, buoyed by the long festive season and rural recovery;</li><li>2) Decline in raw material prices; 3) The company’s recent announcement of (a) A vinyl acetate ethylene emulsion (VAE) and vinyl acetate monomer (VAM) plant, (b) Plans of a white cement plant through a joint venture in Fujairah, UAE, to backward-integrate key raw materials, 4) Expansion of manufacturing footprint by more than 30-40%, and d) Launch of differentiated next-generation emulsions and waterproofing products based on nanotechnology.</li><li>These are steps in the right direction to achieve the next phase of growth and secure the company’s market share in the long term. </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.

Outlook: We remain positive on the company’s long-term prospects, supported by the following factors: 1) The management’s guidance for continued double-digit volume growth in FY24, buoyed by the long festive season and rural recovery;2) Decline in raw material prices; 3) The company’s recent announcement of (a) A vinyl acetate ethylene emulsion (VAE) and vinyl acetate monomer (VAM) plant, (b) Plans of a white cement plant through a joint venture in Fujairah, UAE, to backward-integrate key raw materials, 4) Expansion of manufacturing footprint by more than 30-40%, and d) Launch of differentiated next-generation emulsions and waterproofing products based on nanotechnology.These are steps in the right direction to achieve the next phase of growth and secure the company’s market share in the long term. 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.

Asian Paints - Competitive Intensity to Define Future Course; Maintain HOLD

<ul><li>Asian Paints’ Q3FY24 results were ahead of our estimates on the profitability front.</li><li>Its consolidated sales grew by 5.5% YoY to Rs 9,103 Cr (Volume grew 12% YoY) owing to the shift in the festive season.</li><li>Gross/EBITDA margins improved by 504/393bps YoY to 43.6%/22.6%, driven by deflation in key raw material prices (-0.2% material deflation in Q3FY24) and better product mix. Adj. PAT increased by 35% YoY to Rs 1,448 Cr.</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.

Asian Paints’ Q3FY24 results were ahead of our estimates on the profitability front.Its consolidated sales grew by 5.5% YoY to Rs 9,103 Cr (Volume grew 12% YoY) owing to the shift in the festive season.Gross/EBITDA margins improved by 504/393bps YoY to 43.6%/22.6%, driven by deflation in key raw material prices (-0.2% material deflation in Q3FY24) and better product mix. Adj. PAT increased by 35% YoY to Rs 1,448 Cr.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.

Asian Paints - Competitive Intensity Will Define Future Course

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>Asian Paints: APNT’s revenue declined 2.3% YoY in Q1 to INR 89.7bn (HSIE: INR 91.5bn)</li><li>Decorative clocked 7/-3% volume/value growth in Q1 and industrial business grew 5.8% YoY in Q1</li><li>Distemper, Neo Bharat (new product) and premium waterproofing performed well while economy emulsions struggled</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.

Asian Paints: APNT’s revenue declined 2.3% YoY in Q1 to INR 89.7bn (HSIE: INR 91.5bn)Decorative clocked 7/-3% volume/value growth in Q1 and industrial business grew 5.8% YoY in Q1Distemper, Neo Bharat (new product) and premium waterproofing performed well while economy emulsions struggledContent 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: Asian Paints, Angel One

<ul><li>Our discretionary universe is expected to grow by ~11% YoY in Q1FY25</li><li>However, a few exceptional names drive up the average</li><li>In retail, ex-F&amp;G and value fashion, growth pencilled in is an anaemic 6% as footfalls/demand gets impacted due to (1) the heatwave and (2) fewer wedding days</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.

Our discretionary universe is expected to grow by ~11% YoY in Q1FY25However, a few exceptional names drive up the averageIn retail, ex-F&amp;G and value fashion, growth pencilled in is an anaemic 6% as footfalls/demand gets impacted due to (1) the heatwave and (2) fewer wedding daysContent 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.

Consumer Discretionary: Muted Demand, Value Plays Remain Outliers

<ul><li>State Bank of India: SBIN reported its best-ever quarterly profits on the back of strong fee income traction, healthy loan growth, and stable NIMs</li><li>Strong loan growth (15.8%YOY) came in across asset classes with corporate book also gaining traction</li><li>Deposit growth (~11% YoY) lagged loan growth with CASA% (39.5%) being stable on the back of seasonal pick-up in current accounts</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.

State Bank of India: SBIN reported its best-ever quarterly profits on the back of strong fee income traction, healthy loan growth, and stable NIMsStrong loan growth (15.8%YOY) came in across asset classes with corporate book also gaining tractionDeposit growth (~11% YoY) lagged loan growth with CASA% (39.5%) being stable on the back of seasonal pick-up in current accountsContent 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: State Bank of India, Asian Paints, SRF, Kalpataru Projects International

India

Asian Paints Limited manufactures a wide range of decorative paints, varnishes, enamels, and black & synthetic resins. The Company, through its subsidiaries, also manufactures specialty industrial chemicals and vinyl pyridine latex products which are used in the manufacture of rubber tires.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Asian Paints (APNT IN)

Asian Paints - Competitive Intensity to Define Future Course; Maintain HOLD

The management’s guidance for continued double-digit volume growth in FY24, buoyed by the long festive season and rural recovery

Axis Direct

Asian Paints - Competitive Intensity Will Define Future Course

sian Paints’ Q3FY24 results were ahead of our estimates on the profitability front. Its consolidated sales grew by 5.5% YoY to Rs 9,103 Cr (Volume...

Axis Direct

HSIE Results Daily: Asian Paints, Angel One

Asian Paints: APNT’s revenue declined 2.3% YoY in Q1 to INR 89.7bn (HSIE: INR 91.5bn). Decorative clocked 7/-3% volume/value growth in Q1 and...

HDFC Securities

Consumer Discretionary: Muted Demand, Value Plays Remain Outliers

Our discretionary universe is expected to grow by ~11% YoY in Q1FY25. However, a few exceptional names drive up the average

HDFC Securities

HSIE Results Daily: State Bank of India, Asian Paints, SRF, Kalpataru Projects International

State Bank of India: SBIN reported its best-ever quarterly profits on the back of strong fee income traction, healthy loan growth, and stable NIMs

HDFC Securities

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)