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

<ul><li>Apcotex Industries (APCOTEX) Q2FY23 results missed our estimates on all fronts as company struggles from weakening demand for Nitrile Rubber as gloves demand declined globally</li><li>Revenues came in at Rs 283 Cr up 16% YoY but down 7% QoQ on account of an decrease in realization.</li><li>The company reported an EBITDA of Rs 45 Cr (our estimate: Rs 49 Cr), up 44% YoY reporting EBITDA Margin of 16% (our estimate: 16%). PAT stood at Rs 31 Cr (est Rs 35 Cr).</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>

Apcotex Industries (APCOTEX) Q2FY23 results missed our estimates on all fronts as company struggles from weakening demand for Nitrile Rubber as gloves demand declined globallyRevenues came in at Rs 283 Cr up 16% YoY but down 7% QoQ on account of an decrease in realization.The company reported an EBITDA of Rs 45 Cr (our estimate: Rs 49 Cr), up 44% YoY reporting EBITDA Margin of 16% (our estimate: 16%). PAT stood at Rs 31 Cr (est Rs 35 Cr).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.

Apcotex Industries - Hawkish Commentary, Weak Outlook; Revise Sell