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>Financial Performance: DMART’s consolidated revenue in Q1FY25 grew by 18.6% YoY to Rs 14,069 Cr.</li><li>The growth was largely led by rapid store expansion (added 6 stores in Q1).</li><li>The management highlighted that improved contribution from the general merchandise and apparel category has improved the gross margins to 15.6% in Q1FY25, up by 40bps YoY, while EBITDA grew by 18% YoY. EBITDA Margins stood at 8.7% (down 5bps YoY), partly offset by the increase in operating cost on account of higher opex. </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>

Financial Performance: DMART’s consolidated revenue in Q1FY25 grew by 18.6% YoY to Rs 14,069 Cr.The growth was largely led by rapid store expansion (added 6 stores in Q1).The management highlighted that improved contribution from the general merchandise and apparel category has improved the gross margins to 15.6% in Q1FY25, up by 40bps YoY, while EBITDA grew by 18% YoY. EBITDA Margins stood at 8.7% (down 5bps YoY), partly offset by the increase in operating cost on account of higher opex. 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.

Avenue Supermarts Ltd (DMart) - Inline Numbers, Expensive Valuation; Maintain HOLD