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>Capacity expansion progressing well: The company recently commissioned its Guntur plant in Andhra Pradesh with 1.5 mtpa Clinker and 3 mtpa grinding capacity.</li><li>The work on the capacity expansion program already announced by the company is running as per the schedule.</li><li>We believe these are positive moves and will allow the company to catch up with its larger peers and strengthen its footprint. </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.

Capacity expansion progressing well: The company recently commissioned its Guntur plant in Andhra Pradesh with 1.5 mtpa Clinker and 3 mtpa grinding capacity.The work on the capacity expansion program already announced by the company is running as per the schedule.We believe these are positive moves and will allow the company to catch up with its larger peers and strengthen its footprint. 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.

Shree Cement Limited - Strong Operating Performance Delivered

<ul><li>SCL reported robust set of numbers with Volume/Revenue/EBITDA/APAT growth of 11%/20%/74%/165%YoY(above expectations), driven by better demand in its operating regions, and higher realization led by higher merchant power sales.</li><li>The company reported a profit of Rs 734 Cr against Rs 277 Cr in Q3FY23. The company recorded an EBITDA margin of 25.2% (expectation of 21.3%)against 17.4% YoY,led by higher realization, lower power/fuel and freight costs.</li><li>The quarter’s volume stood at 8.89Mn tonnes per annum (mntpa), up 11% YoY.SCL’s EBITDA/tonne stood at Rs 1,388, up 57%/31% YoY/QoQ.</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.

SCL reported robust set of numbers with Volume/Revenue/EBITDA/APAT growth of 11%/20%/74%/165%YoY(above expectations), driven by better demand in its operating regions, and higher realization led by higher merchant power sales.The company reported a profit of Rs 734 Cr against Rs 277 Cr in Q3FY23. The company recorded an EBITDA margin of 25.2% (expectation of 21.3%)against 17.4% YoY,led by higher realization, lower power/fuel and freight costs.The quarter’s volume stood at 8.89Mn tonnes per annum (mntpa), up 11% YoY.SCL’s EBITDA/tonne stood at Rs 1,388, up 57%/31% YoY/QoQ.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.

Shree Cement Limited - Strong Operating Performance

<ul>
<li>SCL reported Volume/Revenue/EBITDA/APAT growth of 10%/21%/66%/159%YoY(above expectations), driven by better demand in its operating regions, and higher realization led by higher merchant power sales.</li>
<li>The company reported a profit of Rs 491 Cr against Rs 190 Cr in Q2FY24.</li>
<li>The company recorded an EBITDA margin of 19% (expectation of 18.7%)against 13.9% YoY, led by higher realization and lower freight costs. </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.


SCL reported Volume/Revenue/EBITDA/APAT growth of 10%/21%/66%/159%YoY(above expectations), driven by better demand in its operating regions, and higher realization led by higher merchant power sales.
The company reported a profit of Rs 491 Cr against Rs 190 Cr in Q2FY24.
The company recorded an EBITDA margin of 19% (expectation of 18.7%)against 13.9% YoY, led by higher realization and lower freight costs. 

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.

Shree Cement Limited - Inline Operating Performance; Valuation Rich

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>Demand growth slows in Q1FY25: The slowdown in construction activities during the general elections in April and May has adversely impacted cement sales in these months</li><li>The scorching heat further dented demand during Q1FY25 and the industry demand growth is expected to slow down to low single digit YoY</li><li>We estimate the aggregate volumes of our coverage universe will deliver 5% YoY volume growth, implying 8% QoQ volume decline.</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.

Demand growth slows in Q1FY25: The slowdown in construction activities during the general elections in April and May has adversely impacted cement sales in these monthsThe scorching heat further dented demand during Q1FY25 and the industry demand growth is expected to slow down to low single digit YoYWe estimate the aggregate volumes of our coverage universe will deliver 5% YoY volume growth, implying 8% QoQ volume decline.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.

Cement (Q1FY25 Results Preview): Weak Pricing Continues to Offset Cost Gains

<ul><li>Cement demand to moderate: After experiencing double-digit volume growth in Q4FY24 driven by strong demand from the infrastructure sector, increased pre-election spending, and seasonally favourable conditions, cement consumption moderated in Q1FY25.</li><li>This moderation was due to factors such as the general election, extreme heat conditions, labour shortages, and unseasonal rain in some regions.</li><li>According to provisional numbers released by the Office of the Economic Adviser, cement demand grew by 9% in FY24</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.

Cement demand to moderate: After experiencing double-digit volume growth in Q4FY24 driven by strong demand from the infrastructure sector, increased pre-election spending, and seasonally favourable conditions, cement consumption moderated in Q1FY25.This moderation was due to factors such as the general election, extreme heat conditions, labour shortages, and unseasonal rain in some regions.According to provisional numbers released by the Office of the Economic Adviser, cement demand grew by 9% in FY24Content 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 Q1fy25 Result Preview: Moderation in Demand, Pricing Weak

India

Shree Cement Ltd. manufactures cement and cement products. The Company sells its products primarily in Northern India under its own brand names.

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Shree Cement (SRCM IN)

Shree Cement Limited - Strong Operating Performance Delivered

Capacity expansion progressing well: The company recently commissioned its Guntur plant in Andhra Pradesh with 1.5 mtpa Clinker and 3 mtpa grinding...

Axis Direct

Shree Cement Limited - Strong Operating Performance

The quarter’s volume stood at 8.89Mn tonnes per annum (mntpa), up 11% YoY.SCL’s EBITDA/tonne stood at Rs 1,388, up 57%/31% YoY/QoQ.

Axis Direct

Shree Cement Limited - Inline Operating Performance; Valuation Rich

The company recorded an EBITDA margin of 19% (expectation of 18.7%)against 13.9% YoY, led by higher realization and lower freight costs.

Axis Direct

Cement (Q1FY25 Results Preview): Weak Pricing Continues to Offset Cost Gains

Demand growth slows in Q1FY25: The slowdown in construction activities during the general elections in April and May has adversely impacted cement...

HDFC Securities

Cement Q1fy25 Result Preview: Moderation in Demand, Pricing Weak

This moderation was due to factors such as the general election, extreme heat conditions, labour shortages, and unseasonal rain in some regions.

Axis Direct

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