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 Q1FY24 performance was a major miss on our expectations. Falling prices and lower realisations continued to affect the numbers.</li><li>Consolidated Revenue was down 9.4 %YoY but up 8.4% QoQ. EBITDA missed our estimate, down 47% YoY as gross margins took a 300 bps hit in current quarter on Nitrile Latex EBITDA Margin came in at 9.2% (from 15.8%/13.3% in Q1FY23/Q4FY23) against our expectation of 16%.</li><li>The company’s PAT came down by 69% YoY and up 48% QoQ due to higher depriciation and interest expense of newly incurred capital expenditures.</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 Q1FY24 performance was a major miss on our expectations. Falling prices and lower realisations continued to affect the numbers.Consolidated Revenue was down 9.4 %YoY but up 8.4% QoQ. EBITDA missed our estimate, down 47% YoY as gross margins took a 300 bps hit in current quarter on Nitrile Latex EBITDA Margin came in at 9.2% (from 15.8%/13.3% in Q1FY23/Q4FY23) against our expectation of 16%.The company’s PAT came down by 69% YoY and up 48% QoQ due to higher depriciation and interest expense of newly incurred capital expenditures.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 - Margins Remain Under Pressure, Value Offsets Volume