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>RITES Ltd. reported a weak set of numbers during Q1FY25 with revenue of Rs 486 Cr (down 11% YoY), due to poor performance in the Exports business and lower revenue in the Quality Assurance segment set off by growth in the remaining segments.</li><li>Its EBITDA stood at Rs 106 Cr (down 34% YoY), and PAT at Rs 90 Cr (down 24% YoY).</li><li>The company registered EBITDA Margins of 21.8% in Q1FY25 (our estimate: 27.5%) as against 29.6% 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.

RITES Ltd. reported a weak set of numbers during Q1FY25 with revenue of Rs 486 Cr (down 11% YoY), due to poor performance in the Exports business and lower revenue in the Quality Assurance segment set off by growth in the remaining segments.Its EBITDA stood at Rs 106 Cr (down 34% YoY), and PAT at Rs 90 Cr (down 24% YoY).The company registered EBITDA Margins of 21.8% in Q1FY25 (our estimate: 27.5%) as against 29.6% 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.

RITES Ltd - Lackluster Performance; Retain HOLD

<ul><li>RITES Ltd. reported a mixed set of Q3FY24 numbers with revenue of Rs 683 Cr (up 1% YoY), revenues remain flat due to poor performance in the Exports business and lower revenue in the Quality Assurance segment set off by growth in the remaining segments.</li><li>Its EBITDA stood at Rs 169 Cr (down 12% YoY), and APAT at Rs 129 Cr (down 12% YoY).</li><li>The company registered EBITDA Margins of 24.8% in Q3FY24 (our estimate: 26%) as against 28.5% 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.

RITES Ltd. reported a mixed set of Q3FY24 numbers with revenue of Rs 683 Cr (up 1% YoY), revenues remain flat due to poor performance in the Exports business and lower revenue in the Quality Assurance segment set off by growth in the remaining segments.Its EBITDA stood at Rs 169 Cr (down 12% YoY), and APAT at Rs 129 Cr (down 12% YoY).The company registered EBITDA Margins of 24.8% in Q3FY24 (our estimate: 26%) as against 28.5% 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.

RITES Ltd - Revenue In Line; Export Orders To Drive Growth

<ul><li>RITES Ltd. reported a mixed set of Q2FY24 numbers with revenue of Rs 582Cr (down12% YoY),due to poor performance in the Exports business and lower revenue in the Quality Assurance segment.</li><li>Its EBITDA stood at Rs 138Cr (down % YoY), and APAT at Rs 110Cr (down 12%YoY).</li><li>The company registered EBITDA Margins of 23.7% in Q2FY24 (our estimate: 27.8%) as against 27.5% 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.

RITES Ltd. reported a mixed set of Q2FY24 numbers with revenue of Rs 582Cr (down12% YoY),due to poor performance in the Exports business and lower revenue in the Quality Assurance segment.Its EBITDA stood at Rs 138Cr (down % YoY), and APAT at Rs 110Cr (down 12%YoY).The company registered EBITDA Margins of 23.7% in Q2FY24 (our estimate: 27.8%) as against 27.5% 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.

RITES Ltd - Weak Result with Margins Under Pressure; Retain HOLD

<ul><li>Expanding global presence and capabilities: RITES Ltd (RITES) reported revenue of Rs 2,628 Cr, down 1.3% on a YOY basis,on account of lower export sales.</li><li>However, it's worth noting that the company achieved its highest-ever consultancy revenue in FY23.</li><li>Furthermore, as part of its strategic initiative 'RITES Videsh,' it also recorded its highestever international consultancy revenue, demonstrating its expanding global presence and capabilities.</li></ul>

Expanding global presence and capabilities: RITES Ltd (RITES) reported revenue of Rs 2,628 Cr, down 1.3% on a YOY basis,on account of lower export sales.However, it's worth noting that the company achieved its highest-ever consultancy revenue in FY23.Furthermore, as part of its strategic initiative 'RITES Videsh,' it also recorded its highestever international consultancy revenue, demonstrating its expanding global presence and capabilities.

RITES Ltd - Positive Industry Tailwind; New Export Orders Key For Future Growth

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

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Thematic (Sector/Industry)

<ul>
<li>Bangladesh, India's 2nd largest trading partner in Asia is under a political crisis leading to instability and uncertainty. </li>
<li>Companies impacted by Bangladesh Crisis in India across sectors and across market caps listed below. </li>
<li>There might be short-term impact, but in long run, there would not be much impact as overall exposure is not that much.</li>
</ul>


Bangladesh, India's 2nd largest trading partner in Asia is under a political crisis leading to instability and uncertainty. 
Companies impacted by Bangladesh Crisis in India across sectors and across market caps listed below. 
There might be short-term impact, but in long run, there would not be much impact as overall exposure is not that much.


Bangladesh Chaos: Impact on Indian Companies

India

RITES Limited provides engineering services. The Company offers transport infrastructure consultancy, railway inspection, rolling stock leasing and maintenance, airport construction management, industrial and electrical engineering, and other related services. RITES serves customers worldwide.

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RITES Ltd (RITE IN)

RITES Ltd - Lackluster Performance; Retain HOLD

RITES Ltd. reported a weak set of numbers during Q1FY25 with revenue of Rs 486 Cr (down 11% YoY), due to poor performance in the Exports business

Axis Direct

RITES Ltd - Revenue In Line; Export Orders To Drive Growth

RITES booked Consultancy sales of Rs 329 Cr (up 5.8% YoY), Export sales of Rs 58 Cr (down 37.9% YoY), Leasing sales of Rs 37 Cr (up 2.9% YoY), and...

Axis Direct

RITES Ltd - Weak Result with Margins Under Pressure; Retain HOLD

RITES Ltd. reported a mixed set of Q2FY24 numbers with revenue of Rs 582Cr (down12% YoY),due to poor performance in the Exports business and lower...

Axis Direct

RITES Ltd - Positive Industry Tailwind; New Export Orders Key For Future Growth

Expanding global presence and capabilities: RITES Ltd (RITES) reported revenue of Rs 2,628 Cr, down 1.3% on a YOY basis,on account of lower export...

Axis Direct

Bangladesh Chaos: Impact on Indian Companies

Political crisis in Bangladesh is causing instability, impacting India's 2nd largest trading partner in Asia. Companies may see short-term...

Sudarshan Bhandari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

RITES Ltd - Lackluster Performance; Retain HOLD

RITES Ltd. reported a weak set of numbers during Q1FY25 with revenue of Rs 486 Cr (down 11% YoY), due to poor performance in the Exports business

Axis Direct

RITES Ltd - Revenue In Line; Export Orders To Drive Growth

RITES booked Consultancy sales of Rs 329 Cr (up 5.8% YoY), Export sales of Rs 58 Cr (down 37.9% YoY), Leasing sales of Rs 37 Cr (up 2.9% YoY), and...

Axis Direct

RITES Ltd - Weak Result with Margins Under Pressure; Retain HOLD

RITES Ltd. reported a mixed set of Q2FY24 numbers with revenue of Rs 582Cr (down12% YoY),due to poor performance in the Exports business and lower...

Axis Direct

RITES Ltd - Positive Industry Tailwind; New Export Orders Key For Future Growth

Expanding global presence and capabilities: RITES Ltd (RITES) reported revenue of Rs 2,628 Cr, down 1.3% on a YOY basis,on account of lower export...

Axis Direct

Bangladesh Chaos: Impact on Indian Companies

​Political crisis in Bangladesh is causing instability, impacting India's 2nd largest trading partner in Asia. Companies may see short-term...

Sudarshan Bhandari

Political crisis in Bangladesh is causing instability, impacting India's 2nd largest trading partner in Asia. Companies may see short-term...