External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

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Equity Bottom-Up

<ul><li>Aarti Drugs reported revenue of Rs 591 Cr, marginally below our estimate of Rs 598 Cr, yet broadly in line with expectations.</li><li>Revenue grew by 6.3% YoY, supported by a recovery in demand and volume growth, particularly in the API segment.</li><li>EBITDA stood at Rs 74 Cr, exceeding our estimate of Rs 69 Cr, registering a 13.9% YoY increase. </li></ul>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.

Aarti Drugs reported revenue of Rs 591 Cr, marginally below our estimate of Rs 598 Cr, yet broadly in line with expectations.Revenue grew by 6.3% YoY, supported by a recovery in demand and volume growth, particularly in the API segment.EBITDA stood at Rs 74 Cr, exceeding our estimate of Rs 69 Cr, registering a 13.9% YoY increase. 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.

Aarti Drugs Ltd - Margin Gains & Expansion Plans Fuel Optimism for H2

<ul><li>Uptick in Revenue and Profitability: Revenue, EBITDA, and PAT increased by 9.2%, 8.7%, and 27% YoY, respectively, driven by strong export volume growth, though slightly impacted by negative rate variance in API prices.</li><li>Segment-Wise Performance: The Formulations business saw a significant sequential jump of 26.9%, while the API segment grew by 20.6% QoQ and is now focused on expanding into more international markets.</li><li>Capex Investments for Future Growth: During FY25, the company incurred a Capex of ~Rs 177 Cr, primarily for capacity expansion, backward integration, and new product launches.</li></ul>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.

Uptick in Revenue and Profitability: Revenue, EBITDA, and PAT increased by 9.2%, 8.7%, and 27% YoY, respectively, driven by strong export volume growth, though slightly impacted by negative rate variance in API prices.Segment-Wise Performance: The Formulations business saw a significant sequential jump of 26.9%, while the API segment grew by 20.6% QoQ and is now focused on expanding into more international markets.Capex Investments for Future Growth: During FY25, the company incurred a Capex of ~Rs 177 Cr, primarily for capacity expansion, backward integration, and new product launches.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.

Aarti Drugs Ltd - Resilient Demand and Plans for Scale-Up

<ul><li>Aarti Drugs Limited is a key player in the pharmaceutical industry, particularly in manufacturing Active Pharmaceutical Ingredients (APIs), Pharma Intermediates, and Specialty Chemicals.</li><li>With an extensive range of over 50 compounds covering various therapeutic categories, it stands as a market leader in APIs.</li><li>The company's strong focus on exports, with 39% of revenue coming from overseas markets, indicates a robust global presence. </li></ul>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.

Aarti Drugs Limited is a key player in the pharmaceutical industry, particularly in manufacturing Active Pharmaceutical Ingredients (APIs), Pharma Intermediates, and Specialty Chemicals.With an extensive range of over 50 compounds covering various therapeutic categories, it stands as a market leader in APIs.The company's strong focus on exports, with 39% of revenue coming from overseas markets, indicates a robust global presence. 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.

Pick of the Week: Aarti Drugs Ltd - 21 MAY 2024

<ul><li>Aarti Drugs reported Q4FY24 results that exceeded our expectations. Revenue, EBITDA, and PAT grew by 2.3%, 22.3%, and 34.4% QoQ, respectively.</li><li>Gross margins improved by 282bps sequentially due to a better product mix and a decline in input costs.</li><li>Additionally, EBITDA margins improved by 227bps sequentially, driven by operating leverage from enhanced capacity utilization. </li></ul>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.

Aarti Drugs reported Q4FY24 results that exceeded our expectations. Revenue, EBITDA, and PAT grew by 2.3%, 22.3%, and 34.4% QoQ, respectively.Gross margins improved by 282bps sequentially due to a better product mix and a decline in input costs.Additionally, EBITDA margins improved by 227bps sequentially, driven by operating leverage from enhanced capacity utilization. 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.

Aarti Drugs Ltd - API Prices Bottomed Out

<ul><li>Aarti Drugs’ reported Q3FY24 results stood below our expectations, led by continued reduction in API prices across key therepies and elevated key solvent prices.</li><li>It reported revenue of Rs 606 Cr, down 8.7%/5.6% YoY/QoQ due to a fall in exports and domestic revnue by 28.5% and 4.5% YoY respectively.</li><li>The said de-growth was led by the API segment which de-grew by 13% YoY. </li></ul>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.

Aarti Drugs’ reported Q3FY24 results stood below our expectations, led by continued reduction in API prices across key therepies and elevated key solvent prices.It reported revenue of Rs 606 Cr, down 8.7%/5.6% YoY/QoQ due to a fall in exports and domestic revnue by 28.5% and 4.5% YoY respectively.The said de-growth was led by the API segment which de-grew by 13% YoY. 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.

Aarti Drugs Ltd - Continued Reduction in APIs Prices

India

Aarti Drugs is a prominent Indian pharmaceutical company specializing in the manufacturing of Active Pharmaceutical Ingredients (APIs), pharmaceutical intermediates, and specialty chemicals. It produces over 50 API molecules and 80+ finished products for various therapeutic segments, including anti-protozoals, anti-inflammatory, antibiotics, and antidiabetics, serving both domestic and international markets. The company was founded in 1984 and is headquartered in Mumbai, Maharashtra, India.

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Aarti Drugs (ARTD IN)

Aarti Drugs Ltd - Margin Gains & Expansion Plans Fuel Optimism for H2

Aarti Drugs reported revenue of Rs 591 Cr, marginally below our estimate of Rs 598 Cr, yet broadly in line with expectations. Revenue grew by 6.3%...

Axis Direct

Aarti Drugs Ltd - Resilient Demand and Plans for Scale-Up

Revenue, EBITDA, and PAT increased by 9.2%, 8.7%, and 27% YoY, respectively, driven by strong export volume growth, though slightly impacted by...

Axis Direct

Pick of the Week: Aarti Drugs Ltd - 21 MAY 2024

The company's strong focus on exports, with 39% of revenue coming from overseas markets, indicates a robust global presence.

Axis Direct

Aarti Drugs Ltd - API Prices Bottomed Out

Aarti Drugs reported Q4FY24 results that exceeded our expectations. Revenue, EBITDA, and PAT grew by 2.3%, 22.3%, and 34.4% QoQ, respectively.

Axis Direct

Aarti Drugs Ltd - Continued Reduction in APIs Prices

Aarti Drugs’ reported Q3FY24 results stood below our expectations, led by continued reduction in API prices across key therepies and elevated key...

Axis Direct

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