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 a disappointing set of numbers with a miss across Revenue/ EBITDA/PAT.</li><li>Despite the total domestic Industry CV wholesale volumes growing by 12%/23% YoY/QoQ in Q4FY23, the revenue grew by only 6% QoQ (up 25% YoY) and missed our estimate.</li><li>EBITDA, too, missed our estimate and stood at Rs 78 Cr, flat QoQ but up 25% YoY. </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 a disappointing set of numbers with a miss across Revenue/ EBITDA/PAT.Despite the total domestic Industry CV wholesale volumes growing by 12%/23% YoY/QoQ in Q4FY23, the revenue grew by only 6% QoQ (up 25% YoY) and missed our estimate.EBITDA, too, missed our estimate and stood at Rs 78 Cr, flat QoQ but up 25% YoY. 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 - Well-Positioned to Benefit from the CV Up-Cycle; Maintain HOLD