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. 

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.

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>Maruti Suzuki India Ltd (MSIL) reported an impressive set of numbers with the revenues in line with our estimates while the EBITDA and PAT stood slightly below our estimates.</li><li>Revenues grew by 46%/13% YoY/QoQ, slightly outpacing volume growth (up 36%/11% YoY/QoQ at 5.1 Lc units) driven by higher ASP (up 7%/2% YoY/QoQ) on account of richer product mix (New Alto K10 at a premium over the old model and higher share of the top variants like Brezza).</li><li>The price hike in Q1FY23, which was taken only partially in Q1, got fully absorbed in Q2FY23.</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>

Maruti Suzuki India Ltd (MSIL) reported an impressive set of numbers with the revenues in line with our estimates while the EBITDA and PAT stood slightly below our estimates.Revenues grew by 46%/13% YoY/QoQ, slightly outpacing volume growth (up 36%/11% YoY/QoQ at 5.1 Lc units) driven by higher ASP (up 7%/2% YoY/QoQ) on account of richer product mix (New Alto K10 at a premium over the old model and higher share of the top variants like Brezza).The price hike in Q1FY23, which was taken only partially in Q1, got fully absorbed in Q2FY23.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.

Maruti Suzuki - Stellar Q2; Focus on SUVs a Step in the Right Direction!