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>Bata India’s revenue stood at Rs 945Cr, de-grew by (1.4)% YoY (vs. our estimates of 5%YoY).</li><li>The company’s gross margins remain flattish, grew by 11bps to 54.9% (miss) whereas its EBITDA stood at Rs 185Cr, down by ~23%yoy and EBITDA margins came in at 19.6%(miss), declined by 542bpson account of one-time expenditure.</li><li>The company’s PAT was at Rs 13 Cr and grew by 63% due to an exceptional income of Rs 134Cr from sales of land(Faridabad).</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>

Bata India’s revenue stood at Rs 945Cr, de-grew by (1.4)% YoY (vs. our estimates of 5%YoY).The company’s gross margins remain flattish, grew by 11bps to 54.9% (miss) whereas its EBITDA stood at Rs 185Cr, down by ~23%yoy and EBITDA margins came in at 19.6%(miss), declined by 542bpson account of one-time expenditure.The company’s PAT was at Rs 13 Cr and grew by 63% due to an exceptional income of Rs 134Cr from sales of land(Faridabad).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.

Bata India - Recovery to Be Gradual; Maintain HOLD

Bata India Ltd

Bata India - Recovery to Be Gradual; Maintain HOLD