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>Varun Beverages Limited (VBL) Q3CY22 result was robust and ahead of our and consensuses estimates.</li><li>The strong performance was led by a healthy revenue growth of ~32% YoY (~22% on a 3-Year CAGR), volume growth of 24% to 190 Mn cases, and realization growth of ~7% to Rs 167/case.</li><li>The management alluded to strong volume growth of 22% (India business) and 31% (international), coupled with strong growth in Sting led the overall topline growth.</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>

Varun Beverages Limited (VBL) Q3CY22 result was robust and ahead of our and consensuses estimates.The strong performance was led by a healthy revenue growth of ~32% YoY (~22% on a 3-Year CAGR), volume growth of 24% to 190 Mn cases, and realization growth of ~7% to Rs 167/case.The management alluded to strong volume growth of 22% (India business) and 31% (international), coupled with strong growth in Sting led the overall topline growth.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.

Varun Beverages Ltd - Robust Performance; Beat in Expectations on All Fronts