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>Relaxo results were a miss on all fronts with revenue declining by 8% YoY (expected volume decline of 12-14% YoY).</li><li>This was on account of continued weak demand in mass open footwear, consumers down-trading to cheaper footwear, and high-cost inventory in the system.</li><li>This coupled with the high base of Q3FY22 and early stocking ahead of the GST rate hike from 1st Jan’22 impacted 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>

Relaxo results were a miss on all fronts with revenue declining by 8% YoY (expected volume decline of 12-14% YoY).This was on account of continued weak demand in mass open footwear, consumers down-trading to cheaper footwear, and high-cost inventory in the system.This coupled with the high base of Q3FY22 and early stocking ahead of the GST rate hike from 1st Jan’22 impacted 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.

Relaxo Footwear - Miss on All Fronts; Maintain HOLD

Relaxo Footwears

Relaxo Footwear - Miss on All Fronts; Maintain HOLD