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' Q3FY24 performance missed our estimates on all frontsdue to weaker NBR and NL prices and margins.</li><li>Revenue stood at Rs 257 Cr, up 9.8% YoY (down 8% QoQ). Apcotex reported EBITDA of Rs 26 Cr, down 17%/19.5%YoY/QoQ, and the company reported EBITDA Margins of 9.9%, down 320bps YoY (-142bps QoQ).</li><li>This was led by lower gross margins, which werepartly offset by lower other expenses. Gross margins stood at 31.5%, down 112bps in the current quarter. </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' Q3FY24 performance missed our estimates on all frontsdue to weaker NBR and NL prices and margins.Revenue stood at Rs 257 Cr, up 9.8% YoY (down 8% QoQ). Apcotex reported EBITDA of Rs 26 Cr, down 17%/19.5%YoY/QoQ, and the company reported EBITDA Margins of 9.9%, down 320bps YoY (-142bps QoQ).This was led by lower gross margins, which werepartly offset by lower other expenses. Gross margins stood at 31.5%, down 112bps in the current quarter. 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 - NBR Spoils Show; Hints of Price Recovery Aided by Export Volumes