External broker reports(aggregated public sources), Axis Direct

Axis Direct

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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

Ujjivan Small Finance Bank  / Equity Bottom-Up

Ujjivan Small Finance Bank  (UJJIVANS IN)

<ul><li>Disbursements de-grew by ~12% QoQ owing to seasonality. MFI disbursements grew by 7% YoY and de-grew by 17% QoQ, while non-MFI disbursement growth picked up to 45/10% YoY/QoQ. Advances growth of 30/5% YoY/QoQ was primarily driven by MFI loans (+37/5% YoY/QoQ), while non-MFI loans grew by 16/4% YoY/QoQ, mainly driven by Affordable Housing and FIG.</li><li>NII growth was strong at 32/7% YoY/QoQ led by strong advances growth and largely stable margins at 9.2% vs 9.1% in Q4FY23.</li><li>Opex grew by 21/1% YoY/QoQ. C-I Ratio improved to 52.8% vs 58.5/55.2% YoY/QoQ.</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>

Disbursements de-grew by ~12% QoQ owing to seasonality. MFI disbursements grew by 7% YoY and de-grew by 17% QoQ, while non-MFI disbursement growth picked up to 45/10% YoY/QoQ. Advances growth of 30/5% YoY/QoQ was primarily driven by MFI loans (+37/5% YoY/QoQ), while non-MFI loans grew by 16/4% YoY/QoQ, mainly driven by Affordable Housing and FIG.NII growth was strong at 32/7% YoY/QoQ led by strong advances growth and largely stable margins at 9.2% vs 9.1% in Q4FY23.Opex grew by 21/1% YoY/QoQ. C-I Ratio improved to 52.8% vs 58.5/55.2% YoY/QoQ.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.

Ujjivan Small Finance Bank Ltd. - Strong Quarter