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

Escorts Kubota Limited / Equity Bottom-Up

<ul><li>Escorts Kubota Ltd (EKL) revenues for Q4FY23 were reported at Rs 2,214 Cr (up 17% YoY but down 3% QoQ), which was in line with our estimates.</li><li>The sequential revenue growth was led by lower tractor sales (down 12% QoQ/ up 14% YoY ) on account of the advancement of the festive season in Mar’23 as against Apr’23 in the last year, combined with the unseasonal rainfall.</li><li>The company’s EBITDA stood at Rs 233 Cr (down 6% YoY but up 22% QoQ) and beat our/consensus estimates by 14%/21% respectively.</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>

Escorts Kubota Ltd (EKL) revenues for Q4FY23 were reported at Rs 2,214 Cr (up 17% YoY but down 3% QoQ), which was in line with our estimates.The sequential revenue growth was led by lower tractor sales (down 12% QoQ/ up 14% YoY ) on account of the advancement of the festive season in Mar’23 as against Apr’23 in the last year, combined with the unseasonal rainfall.The company’s EBITDA stood at Rs 233 Cr (down 6% YoY but up 22% QoQ) and beat our/consensus estimates by 14%/21% respectively.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.

Escorts Kubota Ltd - Long-Term Growth Drivers Intact; Maintain BUY