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

Mahindra Cie Automotive / Equity Bottom-Up

<ul><li>Mahindra CIE’s revenue from continuing operations stood in line with our estimates at ~Rs 2,440 Cr in Q1CY23, up 18.4%/8.6% on a YoY/QoQ basis.</li><li>The said growth was boosted by the outperformance in the EU business which grew by 28%/17% as well as Indian operations which grew by 12%/3% on a YoY/QoQ basis respectively.</li><li>The company’s EBITDA stood strong at ~Rs 381 Cr, beating our estimates by 12%, and was up 36%/30% on a YoY/QoQ basis.</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>

Mahindra CIE’s revenue from continuing operations stood in line with our estimates at ~Rs 2,440 Cr in Q1CY23, up 18.4%/8.6% on a YoY/QoQ basis.The said growth was boosted by the outperformance in the EU business which grew by 28%/17% as well as Indian operations which grew by 12%/3% on a YoY/QoQ basis respectively.The company’s EBITDA stood strong at ~Rs 381 Cr, beating our estimates by 12%, and was up 36%/30% on a YoY/QoQ basis.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.

Mahindra CIE Automotive Ltd - Upbeat on Continued Operational Outperformance