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. 

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Equity Bottom-Up

<ul><li>PSP Projects Ltd. (PSPPL) reported a strong set of numbers that exceeded expectations across all metrics in Q1FY25.</li><li>The company reported revenue of Rs 623 Cr (up 21% YoY), EBITDA of Rs 74 Cr (up 12% YoY), and APAT of Rs 35 Cr (down 8% YoY).</li><li>EBITDA margins were 11.9% in Q1FY25 (compared to the estimate of 10%), down from 12.9% in Q1FY24. </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.

PSP Projects Ltd. (PSPPL) reported a strong set of numbers that exceeded expectations across all metrics in Q1FY25.The company reported revenue of Rs 623 Cr (up 21% YoY), EBITDA of Rs 74 Cr (up 12% YoY), and APAT of Rs 35 Cr (down 8% YoY).EBITDA margins were 11.9% in Q1FY25 (compared to the estimate of 10%), down from 12.9% in Q1FY24. 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.

PSP Projects Ltd - Performance Set To Improve; Upgrade To BUY

<ul><li>Robust order book: As of 31 st Mar’24, the company’s order book stood at Rs 6,049 Cr..</li><li>The company received an order inflow of Rs 3,498 Cr (excluding GST) during FY24.</li><li>A healthy and robust order book gives revenue visibility for the next 2 years.</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.

Robust order book: As of 31 st Mar’24, the company’s order book stood at Rs 6,049 Cr..The company received an order inflow of Rs 3,498 Cr (excluding GST) during FY24.A healthy and robust order book gives revenue visibility for the next 2 years.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.

PSP Projects Ltd - Miss On All Front; Downgraded to HOLD

<ul><li>PSP Projects Ltd. (PSPPL) Q3FY24 numbers stood above our expectations, thanks to robust project execution by the company.</li><li>It reported revenue of Rs 705 Cr (up 41% YoY), EBITDA of Rs 70 Cr (up 13% YoY), and APAT of Rs 31 Cr (down 12% YoY).</li><li>The company registered EBITDA Margins of 9.9% in Q3FY24 (vs. our estimate of 12.2%) as against 12.4% 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.

PSP Projects Ltd. (PSPPL) Q3FY24 numbers stood above our expectations, thanks to robust project execution by the company.It reported revenue of Rs 705 Cr (up 41% YoY), EBITDA of Rs 70 Cr (up 13% YoY), and APAT of Rs 31 Cr (down 12% YoY).The company registered EBITDA Margins of 9.9% in Q3FY24 (vs. our estimate of 12.2%) as against 12.4% 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.

PSP Projects - EBITDA Miss on High Operating Costs.

<ul><li>PSP Projects Ltd. (PSPPL) Q2FY24 numbers stood above our expectations, thanks to robust project execution by the company.</li><li>It reported revenue of Rs 620 Cr (up 72% YoY), EBITDA of Rs 73 Cr (up 84% YoY), and APAT of Rs 38 Cr (up 79% YoY).</li><li>The company registered EBITDA Margins of 11.7% in Q2FY24 (vs. our estimate of 12.8%) as against 11% in Q2FY23. </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.

PSP Projects Ltd. (PSPPL) Q2FY24 numbers stood above our expectations, thanks to robust project execution by the company.It reported revenue of Rs 620 Cr (up 72% YoY), EBITDA of Rs 73 Cr (up 84% YoY), and APAT of Rs 38 Cr (up 79% YoY).The company registered EBITDA Margins of 11.7% in Q2FY24 (vs. our estimate of 12.8%) as against 11% in Q2FY23. 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.

PSP Projects Ltd - Execution Continues To Improve; Retain BUY

<ul><li>Robust revenue growth in FY23: PSP achieved remarkable revenue growth of 11% in FY23, marking the highest-ever revenue for the company since its inception.</li><li>However, it's worth noting that EBITDA and PAT experienced a decline of 11% and 19%, respectively, compared to the previous year.</li><li>This decline can be attributed to the fact that numerous large projects reached the finishing stage in FY22, resulting in high margins during that period. </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.

Robust revenue growth in FY23: PSP achieved remarkable revenue growth of 11% in FY23, marking the highest-ever revenue for the company since its inception.However, it's worth noting that EBITDA and PAT experienced a decline of 11% and 19%, respectively, compared to the previous year.This decline can be attributed to the fact that numerous large projects reached the finishing stage in FY22, resulting in high margins during that period. 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.

PSP Projects Ltd - Robust Order Book; Margins to Improve.

India

PSP Projects Limited operates as a construction company. The Company offers industrial, institutional, government, and residential projects construction, as well as allied services including planning, designing, and post-construction activities. PSP Projects serves the private and public sectors in India.

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PSP Projects (PSPPL IN)

PSP Projects Ltd - Performance Set To Improve; Upgrade To BUY

PSP Projects Ltd. (PSPPL) reported a strong set of numbers that exceeded expectations across all metrics in Q1FY25. The company reported revenue of...

Axis Direct

PSP Projects Ltd - Miss On All Front; Downgraded to HOLD

Robust order book: As of 31 st Mar’24, the company’s order book stood at Rs 6,049 Cr.. The company received an order inflow of Rs 3,498 Cr...

Axis Direct

PSP Projects - EBITDA Miss on High Operating Costs.

PSP Projects Ltd. (PSPPL) Q3FY24 numbers stood above our expectations, thanks to robust project execution by the company.

Axis Direct

PSP Projects Ltd - Execution Continues To Improve; Retain BUY

PSP Projects Ltd. (PSPPL) Q2FY24 numbers stood above our expectations, thanks to robust project execution by the company. It reported revenue of Rs...

Axis Direct

PSP Projects Ltd - Robust Order Book; Margins to Improve.

Robust revenue growth in FY23: PSP achieved remarkable revenue growth of 11% in FY23, marking the highest-ever revenue for the company since its...

Axis Direct

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