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>New order wins: During the quarter, the company secured lifetime orders worth ~Rs. 2,000 Cr with EV constituting over 30% of the orders won.</li><li>Total new lifetime orders of Rs 10,000 Cr are won as on Mar’ 24 across product segments such as vehicle access, driver information systems, die casting parts, electrical distribution systems, and new EV technologies. </li><li>EBITDA margin improvement: We expect EBITDA Margins to improve from ~11.1% in FY24 to ~12.7% approximately by FY26E backed by (1) a richer product mix led by premium 2Ws (both ICE and EV), (2) increased wallet share among 4W/CV OEMs, (3) gradual recovery in exports, (4) better operating efficiencies, (5) streamlining of fixed costs, and (6) component localization initiatives</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>

New order wins: During the quarter, the company secured lifetime orders worth ~Rs. 2,000 Cr with EV constituting over 30% of the orders won.Total new lifetime orders of Rs 10,000 Cr are won as on Mar’ 24 across product segments such as vehicle access, driver information systems, die casting parts, electrical distribution systems, and new EV technologies. EBITDA margin improvement: We expect EBITDA Margins to improve from ~11.1% in FY24 to ~12.7% approximately by FY26E backed by (1) a richer product mix led by premium 2Ws (both ICE and EV), (2) increased wallet share among 4W/CV OEMs, (3) gradual recovery in exports, (4) better operating efficiencies, (5) streamlining of fixed costs, and (6) component localization initiativesContent 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.

Minda Corporation Ltd - Revenue/EBITDA Inline; Orderbook Remains Strong

Minda Corp Ltd

Minda Corporation Ltd - Revenue/EBITDA Inline; Orderbook Remains Strong