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>The company’s robust all-around performance was led by volume growth of 7.2% YoY to Rs 240.2 Mn cases in Q1CY24, despite the delay in the Holi festive season by 17 days.</li><li>The realization in Q1CY24 grew by 3.5% to Rs 179.7/case, led by an improved product mix in India and a higher contribution of high-margin International markets (grew 22% in Q1CY24).</li><li>The company’s gross margins improved by 385bps YoY to Rs 56.3% due to a decline in PET prices and an improved product mix. </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>

The company’s robust all-around performance was led by volume growth of 7.2% YoY to Rs 240.2 Mn cases in Q1CY24, despite the delay in the Holi festive season by 17 days.The realization in Q1CY24 grew by 3.5% to Rs 179.7/case, led by an improved product mix in India and a higher contribution of high-margin International markets (grew 22% in Q1CY24).The company’s gross margins improved by 385bps YoY to Rs 56.3% due to a decline in PET prices and an improved product mix. 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 - STRONG VOLUME-LED GROWTH CONTINUES