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. 

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.

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>Revenue for the quarter stood at Rs 10,310 Cr (2% miss) up 29% YoY, led by a 10% YoY increase in overall sales volumes; higher ASP, up 17.5% YoY on account of a higher share of 125+cc MC segment and 3W’s; price hikes taken during the year and favourable FX impact.</li><li>EBITDA stood at Rs 1,954 Cr (5% miss) up 51%/14% YoY/QoQ and EBITDA margins came in at 19% (62 bps below estimates) was up 275 bps YoY but down 32 bps QoQ led by GMs which improved by 28 bps YoY but down 212 bps QoQ.</li><li>The QoQ margin decline was due to RM headwinds (benefits to accrue in later quarters), and weaker sales mix sequentially partly offset by lower other expenses. </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>

Revenue for the quarter stood at Rs 10,310 Cr (2% miss) up 29% YoY, led by a 10% YoY increase in overall sales volumes; higher ASP, up 17.5% YoY on account of a higher share of 125+cc MC segment and 3W’s; price hikes taken during the year and favourable FX impact.EBITDA stood at Rs 1,954 Cr (5% miss) up 51%/14% YoY/QoQ and EBITDA margins came in at 19% (62 bps below estimates) was up 275 bps YoY but down 32 bps QoQ led by GMs which improved by 28 bps YoY but down 212 bps QoQ.The QoQ margin decline was due to RM headwinds (benefits to accrue in later quarters), and weaker sales mix sequentially partly offset by lower other expenses. 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.

Bajaj Auto Ltd

Bajaj Auto - Results Miss Estimates