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>Hero MotoCorp’s Revenue/EBITDA stood largely in line with our estimates, while PAT stood ahead by 7%, led by higher-than-expected other income.</li><li>Revenue grew by 4%/8% YoY/QoQ to Rs 9,445 Cr, largely in line with our estimate.</li><li>EBITDA grew by 28%/10% YoY/QoQ (inline) to Rs 1,328 Cr, while EBITDA margins reached the 14% mark, up 262/30bps YoY/QoQ, led by lower RM costs (GMs at 31%, up 337bps YoY), price hikes and better sales mix. </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>

Hero MotoCorp’s Revenue/EBITDA stood largely in line with our estimates, while PAT stood ahead by 7%, led by higher-than-expected other income.Revenue grew by 4%/8% YoY/QoQ to Rs 9,445 Cr, largely in line with our estimate.EBITDA grew by 28%/10% YoY/QoQ (inline) to Rs 1,328 Cr, while EBITDA margins reached the 14% mark, up 262/30bps YoY/QoQ, led by lower RM costs (GMs at 31%, up 337bps YoY), price hikes and better sales mix. 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.

Hero MotoCorp - Products Lineup in Place; Market Share Gains Impending

Hero Motocorp

Hero MotoCorp - Products Lineup in Place; Market Share Gains Impending