External broker reports(aggregated public sources), Axis Direct

Axis Direct

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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>Missed the estimates: Jyothy Labs’ results were below our estimates.</li><li>Revenue grew 7% YoY, led primarily by volume growth. Stable growth was witnessed across categories and channels barring Household Insecticides which de-grew by ~10% YoY.</li><li>Despite increased competitive intensity, the company’s continued focus on increasing/scaling up distribution reach (crossed 1.2 Mn direct reach in FY24), digital acceleration, new launches (Ujala &amp; Henko liquid detergents, Margo Neem Naturals) and brand investment aided the overall volume growth.</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>

Missed the estimates: Jyothy Labs’ results were below our estimates.Revenue grew 7% YoY, led primarily by volume growth. Stable growth was witnessed across categories and channels barring Household Insecticides which de-grew by ~10% YoY.Despite increased competitive intensity, the company’s continued focus on increasing/scaling up distribution reach (crossed 1.2 Mn direct reach in FY24), digital acceleration, new launches (Ujala &amp; Henko liquid detergents, Margo Neem Naturals) and brand investment aided the overall volume growth.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.

Jyothy Labs Ltd - Long Term Outlook Remains Strong; Maintain BUY

Jyothy Laboratories

Jyothy Labs Ltd - Long Term Outlook Remains Strong; Maintain BUY