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

Equitas Small Finance Bank  / Equity Bottom-Up

<ul>
<li>Disbursements grew by 29/4% YoY/QoQ, translating into healthy advances growth of 37/5% YoY/QoQ.</li>
<li>Advances growth was led by strong growth in the MFI (+42/4% YoY/QoQ), Vehicle Finance book (+38/6% YoY/QoQ) – led by used cars and new CVs, Small Business Loans (+32/7% YoY/QoQ) and Housing Loans (+69/12% YoY).</li>
<li>Deposits growth was robust at 42/11% YoY/QoQ, primarily led by growth in TDs (+82/20% YoY/QoQ).</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.


Disbursements grew by 29/4% YoY/QoQ, translating into healthy advances growth of 37/5% YoY/QoQ.
Advances growth was led by strong growth in the MFI (+42/4% YoY/QoQ), Vehicle Finance book (+38/6% YoY/QoQ) – led by used cars and new CVs, Small Business Loans (+32/7% YoY/QoQ) and Housing Loans (+69/12% YoY).
Deposits growth was robust at 42/11% YoY/QoQ, primarily led by growth in TDs (+82/20% YoY/QoQ).

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.

Equitas Small Finance Bank Ltd. - RoA of ~2% Deliverable with Improved Outlook on Margins!

<ul><li>Equitas SFB (EQSFB) is a leading diversified SFB that offers a wide-ranging suite of products, primarily catering to low and middle-income individuals as well as businesses that have limited or no access to formal banking and finance channels.</li><li>The bank operates through a network of 927 branches, with a majority of the branches in Tamil Nadu (TN).</li><li>Business growth expected to remain buoyant: In Q1FY24, EQSFB reported a robust and broad-based advances growth of 36/6% YoY/QoQ.</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.

Equitas SFB (EQSFB) is a leading diversified SFB that offers a wide-ranging suite of products, primarily catering to low and middle-income individuals as well as businesses that have limited or no access to formal banking and finance channels.The bank operates through a network of 927 branches, with a majority of the branches in Tamil Nadu (TN).Business growth expected to remain buoyant: In Q1FY24, EQSFB reported a robust and broad-based advances growth of 36/6% YoY/QoQ.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.

Pick of the Week - Equitas Small Finance Bank Ltd. - 11 SEP 2023

APAC IPOs & Placements, Aequitas Research

Ethan Aw

APAC 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.

Equity Capital Markets

Jana Small Finance Bank / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/jana-small-finance-bank" target="_blank" data-smartkarma-citation="entities:40026:1" rel="noopener">Jana Small Finance Bank (3667144Z IN)</a> is looking to raise up to US$100m in its upcoming India IPO. The deal will be run by Axis Capital, ICICI-Sec and SBI Capital.</li>
<li>Jana Small Finance Bank (JSFB) is the fourth largest small finance bank in India in terms of AUM and deposit size as of FY23 (Year ended 31st Mar 2023). </li>
<li>The firm has served nearly 12m customers since 2008, including 4.57m active customers as of FY23.</li>
</ul>



Jana Small Finance Bank (3667144Z IN) is looking to raise up to US$100m in its upcoming India IPO. The deal will be run by Axis Capital, ICICI-Sec and SBI Capital.
Jana Small Finance Bank (JSFB) is the fourth largest small finance bank in India in terms of AUM and deposit size as of FY23 (Year ended 31st Mar 2023). 
The firm has served nearly 12m customers since 2008, including 4.57m active customers as of FY23.


Jana Small Finance Bank Pre-IPO Tearsheet

<ul><li>Disbursements grew by 47% YoY but de-grew by 20% QoQ (seasonal weakness).</li><li>Advances growth was robust at 36/6% YoY/QoQ and was broad-based.</li><li>Key focus segments such as MFI/SBL/Home Loans grew by 40/31/76% YoY and 8/7/12% QoQ. </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.

Disbursements grew by 47% YoY but de-grew by 20% QoQ (seasonal weakness).Advances growth was robust at 36/6% YoY/QoQ and was broad-based.Key focus segments such as MFI/SBL/Home Loans grew by 40/31/76% YoY and 8/7/12% QoQ. 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.

Equitas Small Finance Bank Ltd. - Eyeing RoA of 2% Despite Margin Pressures!

Thematic (Sector/Industry)

<ul><li>Q1FY24 earnings season was marked by a) Strong domestic macroeconomic environment, b) Sequential improvement in high-frequency indicators, 3) Cool-off in key commodity prices, 4) Easing inflation expectations, and 5) Growth challenges in export-oriented demand.</li></ul><div><ul><li>Moreover, domestic-facing sectors are enjoying economic recovery as well.</li><li>Considering these factors collectively, the Q1FY24 earnings season is likely to deliver positive surprises on the margins front. </li></ul></div>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.

Q1FY24 earnings season was marked by a) Strong domestic macroeconomic environment, b) Sequential improvement in high-frequency indicators, 3) Cool-off in key commodity prices, 4) Easing inflation expectations, and 5) Growth challenges in export-oriented demand.Moreover, domestic-facing sectors are enjoying economic recovery as well.Considering these factors collectively, the Q1FY24 earnings season is likely to deliver positive surprises on the margins front. 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.

India

Equitas Small Finance Bank Limited operates as a bank. The Bank offers savings accounts, fixed deposits, loans, debit and credit cards, investment, insurance, online services, and other related activities. Equitas Small Finance Bank serves clients in India.

Equitas Small Finance Bank  (EQUITASB IN)

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Equitas Small Finance Bank (EQUITASB IN)

Equitas Small Finance Bank Ltd. - RoA of ~2% Deliverable with Improved Outlook on Margins!

Disbursements grew by 29/4% YoY/QoQ, translating into healthy advances growth of 37/5% YoY/QoQ. Advances growth was led by strong growth in the MFI...

Axis Direct

Pick of the Week - Equitas Small Finance Bank Ltd. - 11 SEP 2023

Business growth expected to remain buoyant: In Q1FY24, EQSFB reported a robust and broad-based advances growth of 36/6% YoY/QoQ.

Axis Direct

Jana Small Finance Bank Pre-IPO Tearsheet

Jana Small Finance Bank (3667144Z IN) is looking to raise up to US$100m in its upcoming India IPO. The deal will be run by Axis Capital, ICICI-Sec...

Ethan Aw

Equitas Small Finance Bank Ltd. - Eyeing RoA of 2% Despite Margin Pressures!

Disbursements grew by 47% YoY but de-grew by 20% QoQ (seasonal weakness). Advances growth was robust at 36/6% YoY/QoQ and was broad-based.

Axis Direct

Q1FY24 Consolidated Preview

Considering these factors collectively, the Q1FY24 earnings season is likely to deliver positive surprises on the margins front.

Axis Direct

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