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.

Thematic (Sector/Industry)

<ul><li>Apr’24 Wholesale Volumes: The domestic PV sales (Exhibit-2) grew by low single-digits YoY, largely led by strong SUV volumes across OEMs, which were partly offset by continued weakness in entry-level cars (in Maruti).</li><li>The 2W industry reported strong domestic volume growth of ~31%/19% YoY/MoM and export volume growth of 24% YoY (flat MoM) respectively.</li><li>The domestic CV industry sales grew by ~14% YoY (down 26% MoM). The 3W domestic wholesales for Bajaj grew by 3% while TVS/M&amp;M de-grew by 21%/1% YoY respectively.</li></ul><p><em>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.</em></p>

Apr’24 Wholesale Volumes: The domestic PV sales (Exhibit-2) grew by low single-digits YoY, largely led by strong SUV volumes across OEMs, which were partly offset by continued weakness in entry-level cars (in Maruti).The 2W industry reported strong domestic volume growth of ~31%/19% YoY/MoM and export volume growth of 24% YoY (flat MoM) respectively.The domestic CV industry sales grew by ~14% YoY (down 26% MoM). The 3W domestic wholesales for Bajaj grew by 3% while TVS/M&amp;M de-grew by 21%/1% YoY respectively.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.

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory 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

<ul>
<li>Tata Metaliks (TML) is a subsidiary of Tata Steel, which started its commercial production in 1994.</li>
<li>TML has manufacturing facilities in Kharagpur, West Bengal, which produces pig iron and ductile iron (DI) pipes.</li>
<li>TML is currently in process of expanding its DI pipe capacity in two phases</li>
</ul>
<p><em>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.</em></p>


Tata Metaliks (TML) is a subsidiary of Tata Steel, which started its commercial production in 1994.
TML has manufacturing facilities in Kharagpur, West Bengal, which produces pig iron and ductile iron (DI) pipes.
TML is currently in process of expanding its DI pipe capacity in two phases

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.

Tata Metaliks (TML) - Volume Recovers Sequentially; Margin Stays Muted…

<ul><li>Tata Metaliks (TML) is a subsidiary of Tata Steel, which started its commercial production in 1994.</li><li>TML has manufacturing facilities in Kharagpur, West Bengal, which produces pig iron and ductile iron (DI) pipes.</li><li>TML is currently in process of expanding its DI pipe capacity in two phases </li></ul><p><em>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.</em></p>

Tata Metaliks (TML) is a subsidiary of Tata Steel, which started its commercial production in 1994.TML has manufacturing facilities in Kharagpur, West Bengal, which produces pig iron and ductile iron (DI) pipes.TML is currently in process of expanding its DI pipe capacity in two phases 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.

Tata Metaliks - Volume Recovers Sequentially; Margin Stays Muted...

<ul><li>Tata Metaliks (TML) is a subsidiary of Tata Steel, which was established in 1990</li><li>TML has manufacturing facilities in Kharagpur, West Bengal, which produces pig iron and ductile iron (DI) pipes.</li><li>We value TML at Rs 975 i.e. 6.5x FY23E EV/EBITDA</li></ul><div class="content-highlight"><em>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.</em></div>

Tata Metaliks (TML) is a subsidiary of Tata Steel, which was established in 1990TML has manufacturing facilities in Kharagpur, West Bengal, which produces pig iron and ductile iron (DI) pipes.We value TML at Rs 975 i.e. 6.5x FY23E EV/EBITDAContent 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.

Tata Metaliks: EBITDA Margins Impacted by Higher Raw Material Cost

<p>EBITDA was at of Rs 154 crore (vs. Rs 143 crore in Q4FY21, Rs 10 crore in Q1FY21). EBITDA margin was at 25.5%, up 380 bps QoQ, 2060 bps YoY Ensuing PAT was at Rs 95 crore (up 26% QoQ) past five years (from ~Rs 340 in July 2016 to ~Rs 1265 levels in July 2021). The first phase of DI pipe capacity expansion (of ~1 lakh tonne) is likely to be commissioned in Q4FY22. Second phase is likely to be commissioned in Q4FY23 (of ~1 lakh tonne). Post commissioning of both phases, TML would...</p><div class="content-highlight"><em>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.</em></div>

EBITDA was at of Rs 154 crore (vs. Rs 143 crore in Q4FY21, Rs 10 crore in Q1FY21). EBITDA margin was at 25.5%, up 380 bps QoQ, 2060 bps YoY Ensuing PAT was at Rs 95 crore (up 26% QoQ) past five years (from ~Rs 340 in July 2016 to ~Rs 1265 levels in July 2021). The first phase of DI pipe capacity expansion (of ~1 lakh tonne) is likely to be commissioned in Q4FY22. Second phase is likely to be commissioned in Q4FY23 (of ~1 lakh tonne). Post commissioning of both phases, TML would...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.

Tata Metaliks: Reports Best Ever Quarterly Profit

India

Tata Metaliks Ltd. manufactures foundry grade pig iron. The Company manufactures customized derivatives of pig iron for specific end-uses.

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Tata Metaliks (TML IN)

Auto Monthly Volume April 2024

The 2W industry reported strong domestic volume growth of ~31%/19% YoY/MoM and export volume growth of 24% YoY (flat MoM) respectively.

Axis Direct

Tata Metaliks (TML) - Volume Recovers Sequentially; Margin Stays Muted…

TML has manufacturing facilities in Kharagpur, West Bengal, which produces pig iron and ductile iron (DI) pipes.TML is currently in process of...

ICICI Securities Limited

Tata Metaliks - Volume Recovers Sequentially; Margin Stays Muted...

TML has a healthy balance-sheet. It is one of the few players in the steel pipe sector having a net cash position on its balance sheet

ICICI Securities Limited

Tata Metaliks: EBITDA Margins Impacted by Higher Raw Material Cost

Tata Metaliks (TML) is a subsidiary of Tata Steel, which was established in 1990. TML has manufacturing facilities in Kharagpur, West Bengal, which...

ICICI Securities Limited

Tata Metaliks: Reports Best Ever Quarterly Profit

EBITDA was at of Rs 154 crore (vs. Rs 143 crore in Q4FY21, Rs 10 crore in Q1FY21). EBITDA margin was at 25.5%, up 380 bps QoQ, 2060 bps YoY Ensuing...

ICICI Securities Limited

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