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>TVS Motors Q1FY25 results were in line with our Revenue and EBITDA estimates while beating on PAT.</li><li>Revenue (inline) grew by ~16%/2.5% YoY/QoQ, mainly led by ~14% YoY growth in volumes.</li><li>EBITDA, also in line with forecasts, demonstrated a growth of ~26%/4% YoY/QoQ, primarily attributable to gross margin expansion (resulting from softening commodity prices and better product mix) and sustained cost reduction efforts throughout the year. </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>

TVS Motors Q1FY25 results were in line with our Revenue and EBITDA estimates while beating on PAT.Revenue (inline) grew by ~16%/2.5% YoY/QoQ, mainly led by ~14% YoY growth in volumes.EBITDA, also in line with forecasts, demonstrated a growth of ~26%/4% YoY/QoQ, primarily attributable to gross margin expansion (resulting from softening commodity prices and better product mix) and sustained cost reduction efforts throughout the year. 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.

TVS Motor Co Ltd - Strong Q1FY25; Rural and Exports Recovery to Drive Growth