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) reported revenue of Rs 2,059 Cr (up 9% YoY but down 12.6%QoQ) in Q2FY24, a slight miss on our estimates by 2% on lower-than-expected growth in the RED segment.</li><li>The company’s EBITDA stood at Rs 261 Cr (up 75% YoY but down 21% QoQ) and missed our estimates by 4%. EBITDA Margins (up ~476bps YoY but down 140bps QoQ) missed our estimates by 32bps, mainly on account of higher personnel expenses.</li><li>The company reported Adjusted PAT of ~Rs 223 Cr (up 47% YoY but down 23% QoQ), missing our estimates by 8%. </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) reported revenue of Rs 2,059 Cr (up 9% YoY but down 12.6%QoQ) in Q2FY24, a slight miss on our estimates by 2% on lower-than-expected growth in the RED segment.The company’s EBITDA stood at Rs 261 Cr (up 75% YoY but down 21% QoQ) and missed our estimates by 4%. EBITDA Margins (up ~476bps YoY but down 140bps QoQ) missed our estimates by 32bps, mainly on account of higher personnel expenses.The company reported Adjusted PAT of ~Rs 223 Cr (up 47% YoY but down 23% QoQ), missing our estimates by 8%. 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 - Operational Efficiencies To Drive Bottomline; Maintain BUY