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>The companies under our coverage reported Volume/Revenue/EBITDA/APAT growth of 14%/13%/73%/162% YoY against expectation of 13%/12%/75%/165%. </li><li>EBITDA margins improved by 560bps YoY. EBITDA/tonne for the quarter stood at Rs 852, up 60% YoY . </li><li>Realization/tonne was flattish at Rs 5,552 both YoY/QoQ. Cost/tonne stood at Rs 4,701, down 7% YoY and flattish 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.

The companies under our coverage reported Volume/Revenue/EBITDA/APAT growth of 14%/13%/73%/162% YoY against expectation of 13%/12%/75%/165%. EBITDA margins improved by 560bps YoY. EBITDA/tonne for the quarter stood at Rs 852, up 60% YoY . Realization/tonne was flattish at Rs 5,552 both YoY/QoQ. Cost/tonne stood at Rs 4,701, down 7% YoY and flattish 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.

Equity Bottom-Up

<ul><li>UltraTech Cement Limited is the cement flagship company of the Aditya Birla Group.</li><li>It is the largest manufacturer of grey cement, ready-mix concrete (RMC),and white cement in India.</li><li>On a consolidated basis its current Cement manufacturing capacity stands at 138 mtpa . </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.

UltraTech Cement Limited is the cement flagship company of the Aditya Birla Group.It is the largest manufacturer of grey cement, ready-mix concrete (RMC),and white cement in India.On a consolidated basis its current Cement manufacturing capacity stands at 138 mtpa . 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.

Pick of the Week:UltraTech Cement Ltd - 30 OCT 2023

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.

<ul><li>Hindustan Unilever: HUL’s revenue growth of 3.5% YoY was slow but in line with expectations</li><li>Volume growth was at 2% (HSIE 3%) and sustained a four-year CAGR at &lt;3%</li><li>Rural recovery has been slow despite price cuts and overall softening in the inflation</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.

Hindustan Unilever: HUL’s revenue growth of 3.5% YoY was slow but in line with expectationsVolume growth was at 2% (HSIE 3%) and sustained a four-year CAGR at &lt;3%Rural recovery has been slow despite price cuts and overall softening in the inflationContent 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: Hindustan Unilever, ITC, UltraTech Cement

<ul><li>UTCL reported a mixed set of numbers during the quarter as its Volume/Revenue grew by 16% and 15% respectively, (better than expectations) driven by better demand YoY.</li><li>EBITDA was below our and consensus estimates by 5% each on account of higher RM and other expenses costs.</li><li>There was a one-off expenditure of Rs 70 Cr owing to higher bonuses and seasonal plant and maintenance expenditure. </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.

UTCL reported a mixed set of numbers during the quarter as its Volume/Revenue grew by 16% and 15% respectively, (better than expectations) driven by better demand YoY.EBITDA was below our and consensus estimates by 5% each on account of higher RM and other expenses costs.There was a one-off expenditure of Rs 70 Cr owing to higher bonuses and seasonal plant and maintenance expenditure. 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.

UltraTech Cement Limited - Robust Volume Growth, Pricing Improves

<ul><li>Demand momentum remains robust: We estimate our coverage universe of 15 companies will deliver strong 12% YoY volume growth (four-year CAGR: 9%) in Q2FY24</li><li>On a QoQ basis, we estimate sales volume will reduce 11% on seasonal demand weakness</li><li>Aggregate utilisation should expand ~350bps YoY to 76%, in our view</li><li>We expect industry-leading volume offtake (13% and more) by UltraTech, Birla Corp, JK Cement, Ramco Cements, and Sagar Cement.</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 momentum remains robust: We estimate our coverage universe of 15 companies will deliver strong 12% YoY volume growth (four-year CAGR: 9%) in Q2FY24On a QoQ basis, we estimate sales volume will reduce 11% on seasonal demand weaknessAggregate utilisation should expand ~350bps YoY to 76%, in our viewWe expect industry-leading volume offtake (13% and more) by UltraTech, Birla Corp, JK Cement, Ramco Cements, and Sagar Cement.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 (Q2FY24 Results Preview): Robust demand for sixth consecutive quarter

India

Ultra Tech Cement Ltd. produces a wide range of cement products. This Company represents the cement operations of Larsen & Toubro which were spun-off into a separate entity in which Grasim Industries holds a majority interest.

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Ultratech Cement (UTCEM IN)

Cement Sector: Q2FY24 Review

The companies under our coverage reported Volume/Revenue/EBITDA/APAT growth of 14%/13%/73%/162% YoY against expectation of 13%/12%/75%/165%

Axis Direct

Pick of the Week:UltraTech Cement Ltd - 30 OCT 2023

UltraTech Cement Limited is the cement flagship company of the Aditya Birla Group. It is the largest manufacturer of grey cement, ready-mix...

Axis Direct

HSIE Results Daily: Hindustan Unilever, ITC, UltraTech Cement

Hindustan Unilever: HUL’s revenue growth of 3.5% YoY was slow but in line with expectations. Volume growth was at 2% (HSIE 3%) and sustained a four...

HDFC Securities

UltraTech Cement Limited - Robust Volume Growth, Pricing Improves

UTCL reported a mixed set of numbers during the quarter as its Volume/Revenue grew by 16% and 15% respectively, (better than expectations) driven...

Axis Direct

Cement (Q2FY24 Results Preview): Robust demand for sixth consecutive quarter

Demand momentum remains robust: We estimate our coverage universe of 15 companies will deliver strong 12% YoY volume growth (four-year CAGR: 9%) in...

HDFC Securities

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