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>Asian Paints’ Q3FY24 results were ahead of our estimates on the profitability front.</li><li>Its consolidated sales grew by 5.5% YoY to Rs 9,103 Cr (Volume grew 12% YoY) owing to the shift in the festive season.</li><li>Gross/EBITDA margins improved by 504/393bps YoY to 43.6%/22.6%, driven by deflation in key raw material prices (-0.2% material deflation in Q3FY24) and better product mix. Adj. PAT increased by 35% YoY to Rs 1,448 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>

Asian Paints’ Q3FY24 results were ahead of our estimates on the profitability front.Its consolidated sales grew by 5.5% YoY to Rs 9,103 Cr (Volume grew 12% YoY) owing to the shift in the festive season.Gross/EBITDA margins improved by 504/393bps YoY to 43.6%/22.6%, driven by deflation in key raw material prices (-0.2% material deflation in Q3FY24) and better product mix. Adj. PAT increased by 35% YoY to Rs 1,448 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.

Asian Paints - Competitive Intensity Will Define Future Course