External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

External broker reports(aggregated public sources)

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

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

Kaynes Technology India / Equity Bottom-Up

<ul><li> KAYNES’s revenue jumped 70% YoY in 1QFY25, led by strong traction in the Industrials (up 2.7x YoY; includes EV) and Automotive (up 56% YoY) verticals.</li><li>The order book as of Jun’24 witnessed strong growth of 68% YoY to ~INR50.4b.</li><li>Margins remained mostly stable during the quarter (EBITDA margins down ~20bp YoY), due to an unfavorable business mix.</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.

 KAYNES’s revenue jumped 70% YoY in 1QFY25, led by strong traction in the Industrials (up 2.7x YoY; includes EV) and Automotive (up 56% YoY) verticals.The order book as of Jun’24 witnessed strong growth of 68% YoY to ~INR50.4b.Margins remained mostly stable during the quarter (EBITDA margins down ~20bp YoY), due to an unfavorable business mix.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.

Kaynes Technologies - An All-Round Performance

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>Kaynes Technology (Kaynes) is one of the prominent players in electronics system design and manufacturing (ESDM) services with three decades of experience (mainly in B-B)</li><li>It serves various industries such as automotive, industrial, aerospace, defence, outer space, nuclear, medical, railways, IoT, and IT</li><li>Kaynes is one of the key beneficiaries of the GoI’s focus on the ‘Aatmanirbhar Bharat’ initiative along with the global need of ‘China+1’</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.

Kaynes Technology (Kaynes) is one of the prominent players in electronics system design and manufacturing (ESDM) services with three decades of experience (mainly in B-B)It serves various industries such as automotive, industrial, aerospace, defence, outer space, nuclear, medical, railways, IoT, and ITKaynes is one of the key beneficiaries of the GoI’s focus on the ‘Aatmanirbhar Bharat’ initiative along with the global need of ‘China+1’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.

Kaynes Technology (Initiating Coverage): Execution Superiority in a Favourable Ecosystem. BUY

Kaynes Technology - Execution Superiority in a Favourable Ecosystem. BUY

Thematic (Sector/Industry)

<ul><li>In Q1FY25, the consumer durables aggregate revenue grew by 21% YoY (+16% 2-yr CAGR)</li><li>The growth was driven by the summer portfolio (room AC, air coolers, fans) which benefited from a harsh summer season</li><li>White goods/ ECD segments’ revenues grew by 41%/17% YoY (+19%/+12% 2-yr CAGR)</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.

In Q1FY25, the consumer durables aggregate revenue grew by 21% YoY (+16% 2-yr CAGR)The growth was driven by the summer portfolio (room AC, air coolers, fans) which benefited from a harsh summer seasonWhite goods/ ECD segments’ revenues grew by 41%/17% YoY (+19%/+12% 2-yr CAGR)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.

Consumer Durables & EMS: Decoding Q1FY25 Trends

<ul><li>ICICI Bank: ICICI Bank (ICICIBC) clocked a mild beat on the back of steady margins (-4bps QoQ) and better operating efficiency (higher non-core income), partly offset by elevated credit costs</li><li>Loan growth (+15 YoY) was in line, largely driven by SME, business banking and credit card businesses</li><li>ICICIBC witnessed lower recoveries in the corporate and SME portfolios alongside a marginal uptick in retail slippages; however, the bank continued to maintain a healthy PCR (80%)</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.

ICICI Bank: ICICI Bank (ICICIBC) clocked a mild beat on the back of steady margins (-4bps QoQ) and better operating efficiency (higher non-core income), partly offset by elevated credit costsLoan growth (+15 YoY) was in line, largely driven by SME, business banking and credit card businessesICICIBC witnessed lower recoveries in the corporate and SME portfolios alongside a marginal uptick in retail slippages; however, the bank continued to maintain a healthy PCR (80%)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: ICICI Bank, Dr Reddy’s Laboratories, Ashok Leyland

India

Kaynes Technology India Private Limited manufactures electronic components. The Company offers pcba's, bluetooth modules, and chipset. Kaynes Technology India serves defence, aerospace, railways, other transportation, health care, automobiles, and aerospace sectors worldwide.

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Kaynes Technology India (KAYNES IN)

Kaynes Technologies - An All-Round Performance

KAYNES’s revenue jumped 70% YoY in 1QFY25, led by strong traction in the Industrials (up 2.7x YoY; includes EV) and Automotive (up 56% YoY) verticals.

Motilal Oswal

Kaynes Technology (Initiating Coverage): Execution Superiority in a Favourable Ecosystem. BUY

Kaynes Technology (Kaynes) is one of the prominent players in electronics system design and manufacturing (ESDM) services with three decades of...

HDFC Securities

Kaynes Technology - Execution Superiority in a Favourable Ecosystem. BUY

Kaynes Technology (Kaynes) is one of the prominent players in electronics system design and manufacturing (ESDM) services with three decades of...

HDFC Securities

Consumer Durables & EMS: Decoding Q1FY25 Trends

In Q1FY25, the consumer durables aggregate revenue grew by 21% YoY (+16% 2-yr CAGR). The growth was driven by the summer portfolio (room AC, air...

HDFC Securities

HSIE Results Daily: ICICI Bank, Dr Reddy’s Laboratories, Ashok Leyland

ICICI Bank: ICICI Bank (ICICIBC) clocked a mild beat on the back of steady margins (-4bps QoQ) and better operating efficiency (higher non-core...

HDFC Securities

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