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>Automotive Axles posted strong Revenue/EBITDA/PAT beating our estimates.</li><li>Revenue at ~Rs 585 Cr, up 23% YoY (+10% QoQ, 4% Beat), beat the MHCV industry production volume, which grew by 17% YoY (as per SIAM data).</li><li>EBITDA at Rs 66 Cr was up 31% YoY (+13% QoQ, 3% Beat) on account of lower personnel costs and other expenses, partly offset by lower gross margins. </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>

Automotive Axles posted strong Revenue/EBITDA/PAT beating our estimates.Revenue at ~Rs 585 Cr, up 23% YoY (+10% QoQ, 4% Beat), beat the MHCV industry production volume, which grew by 17% YoY (as per SIAM data).EBITDA at Rs 66 Cr was up 31% YoY (+13% QoQ, 3% Beat) on account of lower personnel costs and other expenses, partly offset by lower gross margins. 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.

Automotive Axles - Q2 EBITDA Beats Estimates; Stock Fairly Valued at CMP