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>GLAND (Ex-Cenexi) registered a muted revenue growth of 5.1% YoY due to the annual shutdown of planned maintenance, maintaining EBITDA margins of ~34.3%, which is in line with preceding quarters on a YoY basis.</li><li>The acqiured business Cenexi reported revenue of Rs 340 Cr (-5% YoY), EBITDA loss of –Rs 69 Cr, and EBITDA margins of -20%. However, the management indicates a positive EBITDA in Q4FY25 despite near-term headwinds and guided revenue of 200 Mn Euro for FY26. </li><li>Maintaining an annual revenue growth rate of ~14-15% appears to be the company’s target, taking into account the expanded base from recent initiatives.</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>

GLAND (Ex-Cenexi) registered a muted revenue growth of 5.1% YoY due to the annual shutdown of planned maintenance, maintaining EBITDA margins of ~34.3%, which is in line with preceding quarters on a YoY basis.The acqiured business Cenexi reported revenue of Rs 340 Cr (-5% YoY), EBITDA loss of –Rs 69 Cr, and EBITDA margins of -20%. However, the management indicates a positive EBITDA in Q4FY25 despite near-term headwinds and guided revenue of 200 Mn Euro for FY26. Maintaining an annual revenue growth rate of ~14-15% appears to be the company’s target, taking into account the expanded base from recent initiatives.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.

Gland Pharma Ltd - Margins Impacted by Cenexi Business; Maintain HOLD