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>Steel Strips Wheels Ltd (SSWL) Q4FY23 numbers stood below our estimates.</li><li>Revenue for the quarter was reported at Rs 1,005 Cr (down 5% YoY and up 7% QoQ), a 7% miss on estimates mainly due to the company’s inability to fully pass commodity costs to customers.</li><li>SSWL reported an EBITDA of Rs 108 Cr (down 3% YoY and flat QoQ), a 21% miss on our estimates, mainly due to increased raw material costs (up 208/267bps on a YoY/QoQ basis), personnel costs (up 182bps and flat QoQ) and poor product mix being partially offset by lower other expenses</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>

Steel Strips Wheels Ltd (SSWL) Q4FY23 numbers stood below our estimates.Revenue for the quarter was reported at Rs 1,005 Cr (down 5% YoY and up 7% QoQ), a 7% miss on estimates mainly due to the company’s inability to fully pass commodity costs to customers.SSWL reported an EBITDA of Rs 108 Cr (down 3% YoY and flat QoQ), a 21% miss on our estimates, mainly due to increased raw material costs (up 208/267bps on a YoY/QoQ basis), personnel costs (up 182bps and flat QoQ) and poor product mix being partially offset by lower other expensesContent 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.

Steel Strip Wheels Ltd - Pick Up in Exports Critical for Outperformance