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>ACC reported revenue growth of 2% YoY and Volume/EBITDA/APAT de-growth of 3%/3%/41% respectively YoY</li><li>The company’s APAT was more impacted YoY owing to tax reversal as it adopted a lower tax rate last year and an exceptional item of Rs 55 Cr in Q4CY21</li><li>We value ACC at 10.5x its CY23E EV/EBITDA to arrive at a TP of Rs 2,620/share, implying an upside of 22% from the CMP</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>

ACC reported revenue growth of 2% YoY and Volume/EBITDA/APAT de-growth of 3%/3%/41% respectively YoYThe company’s APAT was more impacted YoY owing to tax reversal as it adopted a lower tax rate last year and an exceptional item of Rs 55 Cr in Q4CY21We value ACC at 10.5x its CY23E EV/EBITDA to arrive at a TP of Rs 2,620/share, implying an upside of 22% from the CMPContent 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.

ACC Ltd: Challenging Quarter, Upcoming Capacity to Drive Growth!