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. 

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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

Aditya Birla Fashion and Retail Ltd / Equity Bottom-Up

Aditya Birla Fashion and Retail Ltd (ABFRL IN)

<ul><li>Sluggish consumption demand in the discretionary space: Prolonged heat waves and a lesser wedding season in Q1 have resulted in sluggish consumption demand in the discretionary space.</li><li>The company’s consolidated revenue grew by 7% YoY, led by Ethnic (up 2.6x YoY) and TMRW (up 2x YoY), while the overall demerged business grew strongly by 26% YoY.</li><li>EBITDA stood at Rs 358 Cr, up 22.6% YoY, with EBITDA margins coming in at 10.5%, up by 131 bps YoY due to gross margin expansions and effective cost control measures. </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>

Sluggish consumption demand in the discretionary space: Prolonged heat waves and a lesser wedding season in Q1 have resulted in sluggish consumption demand in the discretionary space.The company’s consolidated revenue grew by 7% YoY, led by Ethnic (up 2.6x YoY) and TMRW (up 2x YoY), while the overall demerged business grew strongly by 26% YoY.EBITDA stood at Rs 358 Cr, up 22.6% YoY, with EBITDA margins coming in at 10.5%, up by 131 bps YoY due to gross margin expansions and effective cost control measures. 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.

Aditya Birla Fashion & Retail Ltd - Narrative Changing Towards Profitability; Maintain HOLD