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 Q4FY24 numbers were largely in line with our Revenue and EBITDA estimates while missing on PAT.</li><li>Revenue (inline) grew by ~24% YoY (down ~1% QoQ), mainly led by ~22.4% YoY growth in volumes.</li><li>EBITDA, also in line with forecasts, demonstrated a growth of ~36% YoY (remaining flat QoQ), primarily attributable to gross margin expansion resulting from softening commodity prices and price adjustments implemented 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 Q4FY24 numbers were largely in line with our Revenue and EBITDA estimates while missing on PAT.Revenue (inline) grew by ~24% YoY (down ~1% QoQ), mainly led by ~22.4% YoY growth in volumes.EBITDA, also in line with forecasts, demonstrated a growth of ~36% YoY (remaining flat QoQ), primarily attributable to gross margin expansion resulting from softening commodity prices and price adjustments implemented 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 Q4FY24; New Product Launches to Drive Growth