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

Heidelberg Cement India / Equity Bottom-Up

<div><div><div><div><ul><li><p>Heidelberg Cement’s operating performance stood in line with our estimates and was supported by volume growth and lower costs during the quarter.</p></li><li><p>Its Volume/Revenue/APAT grew by 8%/1%/1% YoY while EBITDA de-grew by 2%.YoY (marginally below our expectations).</p></li><li><p>The company reported an EBITDA margin of 15.6% (vs. the expectation of 16%) as overall cost/tonne reduced by 6% to Rs 4,179 YoY.</p></li></ul></div></div></div></div><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>

Heidelberg Cement’s operating performance stood in line with our estimates and was supported by volume growth and lower costs during the quarter.Its Volume/Revenue/APAT grew by 8%/1%/1% YoY while EBITDA de-grew by 2%.YoY (marginally below our expectations).The company reported an EBITDA margin of 15.6% (vs. the expectation of 16%) as overall cost/tonne reduced by 6% to Rs 4,179 YoY.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.

Heidelberg Cement India Limited - Inline Performance; Maintain HOLD