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>OCL reported Revenue/Volume growth of 15%/16% YoY ( above expectations) while EBITDA/APAT degrew by 3%/1% respectively YoY.</li><li>This was due to elevated costs led by higher RM and other expenses as the company shut down its plant during the quarter for maintenance.</li><li>This amounted to a hit of Rs 24 Cr 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.

OCL reported Revenue/Volume growth of 15%/16% YoY ( above expectations) while EBITDA/APAT degrew by 3%/1% respectively YoY.This was due to elevated costs led by higher RM and other expenses as the company shut down its plant during the quarter for maintenance.This amounted to a hit of Rs 24 Cr 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.

Orient Cement Limited - Higher Costs Impact Margin

<ul><li>The company reported revenue of Rs 2,937 Cr, posting a growth of 8% on a YoY basis.</li><li>Higher volume and better realization contributed to improved sales during the year.</li><li>The sales volume stood at 5.76 mtpa, reporting satisfactory growth of 5% in FY23.</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 reported revenue of Rs 2,937 Cr, posting a growth of 8% on a YoY basis.Higher volume and better realization contributed to improved sales during the year.The sales volume stood at 5.76 mtpa, reporting satisfactory growth of 5% in FY23.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.

Orient Cement - Capacity Expansion & Premiumization to Drive Growth

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 industry volume to grow by ~9% YoY in FY24</li><li>We expect fuel prices to further correct by at least ~INR 100 per MT QoQ each in Q2/Q3FY24</li><li>So, we expect realisation to fall 1-2% YoY in FY24, as the industry would partially pass on the cost savings</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 industry volume to grow by ~9% YoY in FY24We expect fuel prices to further correct by at least ~INR 100 per MT QoQ each in Q2/Q3FY24So, we expect realisation to fall 1-2% YoY in FY24, as the industry would partially pass on the cost savingsContent 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.

Cement: Demand stays strong; fuel costs cool off further

<ul><li>Titan: While Titan continued to clock healthy revenue growth of INR 103.6bn (up 33%; 4-year CAGR: 21%; HSIE: INR 98.8bn), the margin fell short of expectations</li><li>Jewellery sales (ex-bullion; standalone) grew 23.5% (4-year CAGR: 18.4%) in Q4FY23 as both the number of buyers and ticket sizes aided growth</li><li>Non-jewellery growth of 31% YoY (4-year CAGR: 13%) remained healthy too (in-line)</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.

Titan: While Titan continued to clock healthy revenue growth of INR 103.6bn (up 33%; 4-year CAGR: 21%; HSIE: INR 98.8bn), the margin fell short of expectationsJewellery sales (ex-bullion; standalone) grew 23.5% (4-year CAGR: 18.4%) in Q4FY23 as both the number of buyers and ticket sizes aided growthNon-jewellery growth of 31% YoY (4-year CAGR: 13%) remained healthy too (in-line)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: Titan, Havells India, Godrej Properties, Petronet LNG, CDSL, Orient Cement

<ul><li>OCL reportedRevenue/Volume growth of 9%/6%YoY (marginally below expectations). EBITDA/APAT degrew by 9%/24% respectively YoY due to higher costs.</li><li>However, on a QoQ basis, the company reported better financial performance driven by higher volume and better realization YoY.</li><li>The company reported a profit of Rs 67 Cr (above expectations) against Rs 28 Cr 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.

OCL reportedRevenue/Volume growth of 9%/6%YoY (marginally below expectations). EBITDA/APAT degrew by 9%/24% respectively YoY due to higher costs.However, on a QoQ basis, the company reported better financial performance driven by higher volume and better realization YoY.The company reported a profit of Rs 67 Cr (above expectations) against Rs 28 Cr 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.

Orient Cement Limited - Robust Operating Performance; New Capex Announced!

India

Orient Cement Limited manufactures and distributes cement.

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Orient Cement (ORCMNT IN)

Orient Cement Limited - Higher Costs Impact Margin

OCL reported Revenue/Volume growth of 15%/16% YoY ( above expectations) while EBITDA/APAT degrew by 3%/1% respectively YoY.

Axis Direct

Orient Cement - Capacity Expansion & Premiumization to Drive Growth

The company reported revenue of Rs 2,937 Cr, posting a growth of 8% on a YoY basis. Higher volume and better realization contributed to improved...

Axis Direct

Cement: Demand stays strong; fuel costs cool off further

We expect industry volume to grow by ~9% YoY in FY24. We expect fuel prices to further correct by at least ~INR 100 per MT QoQ each in Q2/Q3FY24

HDFC Securities

HSIE Results Daily: Titan, Havells India, Godrej Properties, Petronet LNG, CDSL, Orient Cement

Titan: While Titan continued to clock healthy revenue growth of INR 103.6bn (up 33%; 4-year CAGR: 21%; HSIE: INR 98.8bn), the margin fell short of...

HDFC Securities

Orient Cement Limited - Robust Operating Performance; New Capex Announced!

OCL reportedRevenue/Volume growth of 9%/6%YoY (marginally below expectations). EBITDA/APAT degrew by 9%/24% respectively YoY due to higher costs.

Axis Direct

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