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

HG Infra Engineering Ltd / Equity Bottom-Up

<ul><li>Healthy order book: As of 31st Mar’24, the company's total order book stood at Rs 12,400 Cr, equivalent to 2.4 times the FY24 revenue.</li><li>Road EPC projects accounted for 38% of the total order book, while 40% originated from HAM road projects, 22% from Railway projects, and the remaining 10% from other projects.</li><li>A significant portion, 83%, of these projects are attributed to the Government of India, with the remaining 17% coming from the Private sector</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.

Healthy order book: As of 31st Mar’24, the company's total order book stood at Rs 12,400 Cr, equivalent to 2.4 times the FY24 revenue.Road EPC projects accounted for 38% of the total order book, while 40% originated from HAM road projects, 22% from Railway projects, and the remaining 10% from other projects.A significant portion, 83%, of these projects are attributed to the Government of India, with the remaining 17% coming from the Private sectorContent 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.

HG Infra Engineering Ltd - Robust Order Book & Strategic Diversification to Drive Growth

<ul><li>H.G. Infra Engineering Limited (HGIEL), established in 2003, is an infrastructure company headquartered in Jaipur, Rajasthan.</li><li>The company specializes in construction, development, design, and management of various infrastructure projects.</li><li>Over the past 18 years, HGIEL has undergone a significant transformation, evolving from a sub-contractor to a prominent road developer. </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.

H.G. Infra Engineering Limited (HGIEL), established in 2003, is an infrastructure company headquartered in Jaipur, Rajasthan.The company specializes in construction, development, design, and management of various infrastructure projects.Over the past 18 years, HGIEL has undergone a significant transformation, evolving from a sub-contractor to a prominent road developer. 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 - H G Infra Engineering Ltd - 26 FEB 2024

<ul><li>HG Infra Engineering Ltd.(HGIEL) reported a positive set of numbers in Q3FY24. It reported revenue of Rs 1346 Cr (up 19% YoY).</li><li>The company posted EBITDA of Rs 214 Cr (up 13% YoY), and APAT of Rs 206 Cr (up 84% YoY).</li><li>It registered EBITDA Margins of 15.9% in Q3FY24 (our estimate: 15.9%) as against 16.7% in Q3FY23. </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.

HG Infra Engineering Ltd.(HGIEL) reported a positive set of numbers in Q3FY24. It reported revenue of Rs 1346 Cr (up 19% YoY).The company posted EBITDA of Rs 214 Cr (up 13% YoY), and APAT of Rs 206 Cr (up 84% YoY).It registered EBITDA Margins of 15.9% in Q3FY24 (our estimate: 15.9%) as against 16.7% in Q3FY23. 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.

H G Infra Engineering Ltd - Inline Operating Performance; Eyes On New Order Inflow

Thematic (Sector/Industry)

<ul><li>During the quarter, road infrastructure companies under our coverage reported Revenue/EBITDA/PAT growth of -11%/- 12%/42% YoY, against our expectation of 0%/-2%/2% YoY.</li><li>The performance deviation was primarily due to slower execution due to extended monsoons and delays in receiving AD.</li><li>PAT was higher owing to higher other income and exceptional gain reported by KNR construction during the quarter.</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.

During the quarter, road infrastructure companies under our coverage reported Revenue/EBITDA/PAT growth of -11%/- 12%/42% YoY, against our expectation of 0%/-2%/2% YoY.The performance deviation was primarily due to slower execution due to extended monsoons and delays in receiving AD.PAT was higher owing to higher other income and exceptional gain reported by KNR construction during the quarter.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.

Top Conviction Ideas – “Road Infra and Others”

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.

<ul><li>Alkem Laboratories: EBITDA (+1% YoY) below consensus estimates due to 1% YoY sales decline (+6% YoY India, -7% QoQ in the US), which was offset by higher gross margin (+330 bps YoY) and cost controls (staff/SG&amp;A +10%/+1%YoY)</li><li>ALKEM guidance (1) lowered overall revenue growth to mid-single digit in FY25 vs ~10% earlier</li><li>(2) India business to see growth at par with the IPM growth of 8-9% in FY25 as it expects strong growth H2FY25 (~6% YoY in H1)</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.

Alkem Laboratories: EBITDA (+1% YoY) below consensus estimates due to 1% YoY sales decline (+6% YoY India, -7% QoQ in the US), which was offset by higher gross margin (+330 bps YoY) and cost controls (staff/SG&amp;A +10%/+1%YoY)ALKEM guidance (1) lowered overall revenue growth to mid-single digit in FY25 vs ~10% earlier(2) India business to see growth at par with the IPM growth of 8-9% in FY25 as it expects strong growth H2FY25 (~6% YoY in H1)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: Alkem Laboratories, Galaxy Surfactants, KNR Constructions

India

H.G. Infra Engineering Limited (HGIEL) provides infrastructure construction services. The Company offers highways, roads, bridges, runways, and civil construction, as well as land development, water pipelines, and rehabilitation and upgradation services. HGIEL serves customers in India.

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HG Infra Engineering Ltd (HGINFRA IN)

HG Infra Engineering Ltd - Robust Order Book & Strategic Diversification to Drive Growth

Healthy order book: As of 31st Mar’24, the company's total order book stood at Rs 12,400 Cr, equivalent to 2.4 times the FY24 revenue.

Axis Direct

Pick of the Week - H G Infra Engineering Ltd - 26 FEB 2024

Over the past 18 years, HGIEL has undergone a significant transformation, evolving from a sub-contractor to a prominent road developer.

Axis Direct

H G Infra Engineering Ltd - Inline Operating Performance; Eyes On New Order Inflow

The profits are higher due to an exceptional item worth Rs 107 Cr as a loan given on account of sale of equity stake in 3 HAM assets.

Axis Direct

Top Conviction Ideas – “Road Infra and Others”

During the quarter, road infrastructure companies under our coverage reported Revenue/EBITDA/PAT growth of -11%/- 12%/42% YoY, against our...

Axis Direct

HSIE Results Daily: Alkem Laboratories, Galaxy Surfactants, KNR Constructions

Alkem Laboratories: EBITDA (+1% YoY) below consensus estimates due to 1% YoY sales decline (+6% YoY India, -7% QoQ in the US), which was offset by...

HDFC Securities

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