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>Subdued Performance: The company’s revenue de-grew by ~2% YoY to Rs 747 Cr, owing to the decline in overall volumes, down 4% YoY.</li><li>However, this was partly offset by improved realisation by 3% YoY. Moreover, the company reported a beat on EBITDA which grew by 2% YoY to Rs 120 Cr while margins stood at 16.1%, up 68 bps YoY.</li><li>This was led by sharp improvement in gross margins which were up 812bps YoY to 60.3% on account of lower RM and improved realisation.</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>

Subdued Performance: The company’s revenue de-grew by ~2% YoY to Rs 747 Cr, owing to the decline in overall volumes, down 4% YoY.However, this was partly offset by improved realisation by 3% YoY. Moreover, the company reported a beat on EBITDA which grew by 2% YoY to Rs 120 Cr while margins stood at 16.1%, up 68 bps YoY.This was led by sharp improvement in gross margins which were up 812bps YoY to 60.3% on account of lower RM and improved realisation.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 Footwears Ltd. - Gradual Recovery to Continue; Maintain Buy