External broker reports(aggregated public sources), Axis Direct

Axis Direct

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.

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>AIL reported revenue growth of 7.1% YoY in Q1FY23 (vs. our expectations of 8% YoY), outpacing the IPM* growth of 2.0% (IPM: Indian Pharma Industry, Source: AIOCD). </li><li>The said growth was majorly driven by sales improvement in key therapies such as Gasteroinsteinal (+13.7% YoY) and Hormones (+13.1% YoY). Duphaston (Gynecological) Q1FY23 sales stabilised to Rs 343 Cr, (Source: AIOCD), reporting a growth of 1.4% YoY. Earlier, Mankind launched “Dydrogesterone” in competition with Duphaston which resulted in a decrease in Duphaston sales.</li><li>The company’s Gross Margins declined by 74bps due to changes in the product mix (higher share in anti-infective) product mix and an increase in raw material prices.</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.

AIL reported revenue growth of 7.1% YoY in Q1FY23 (vs. our expectations of 8% YoY), outpacing the IPM* growth of 2.0% (IPM: Indian Pharma Industry, Source: AIOCD). The said growth was majorly driven by sales improvement in key therapies such as Gasteroinsteinal (+13.7% YoY) and Hormones (+13.1% YoY). Duphaston (Gynecological) Q1FY23 sales stabilised to Rs 343 Cr, (Source: AIOCD), reporting a growth of 1.4% YoY. Earlier, Mankind launched “Dydrogesterone” in competition with Duphaston which resulted in a decrease in Duphaston sales.The company’s Gross Margins declined by 74bps due to changes in the product mix (higher share in anti-infective) product mix and an increase in raw material prices.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.

Abbott India Ltd - Key Therapies Report Robust Sales Improvement