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. 

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>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

<div><ul><li>Aarti Drugs’ reported Q1FY24 results stood below our expectations due to a fall in exports which comprised Formulations (+6%YoY) and Speciality Chemical segment (-18% YoY).</li><li>Its reported revenue stood at Rs 661 Cr, up 6.3% YoY and the growth was led by the API segment which grew by 9% YoY.</li><li>There has been a good pick up in the API volume offtake in the domestic market at 18% but realisations declined by 8% on a YoY basis.</li></ul></div>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 Q1FY24 results stood below our expectations due to a fall in exports which comprised Formulations (+6%YoY) and Speciality Chemical segment (-18% YoY).Its reported revenue stood at Rs 661 Cr, up 6.3% YoY and the growth was led by the API segment which grew by 9% YoY.There has been a good pick up in the API volume offtake in the domestic market at 18% but realisations declined by 8% on a YoY basis.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 - Volume Growth Offset by Low Realizations

<ul><li>Aarti Drugs’ reported Q4FY23 results stood above our expectations, led by an increase in volume uptick and improvement in the operating profitability due to operating leverage.</li><li>Reported Revenue at Rs 742 Cr grew by 7.0% YoY, led by the API segment which grew by 10% YoY.</li><li>There has been a good pick-up in the API volume offtake from Jan’23 and onwards across the API industry which is expected to remain higher in the upcoming quarters.</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 Q4FY23 results stood above our expectations, led by an increase in volume uptick and improvement in the operating profitability due to operating leverage.Reported Revenue at Rs 742 Cr grew by 7.0% YoY, led by the API segment which grew by 10% YoY.There has been a good pick-up in the API volume offtake from Jan’23 and onwards across the API industry which is expected to remain higher in the upcoming quarters.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 Volumes Expected to Pick Up in the Upcoming Quarters

<ul><li>Aarti Drugs reported Q2FY23 results below to expectation despite strong topline growth.</li><li>Aarti Drugs (ARTD) reported lowest Gross margins 30% YoY in last 4 years due to price correction of high cost inventory that includes Raw material like DCDA and Ammonia.</li><li>EBITDA margins are 10.8% fell by 190 bps due to low gross profitability and high fuel and power costs.</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 Q2FY23 results below to expectation despite strong topline growth.Aarti Drugs (ARTD) reported lowest Gross margins 30% YoY in last 4 years due to price correction of high cost inventory that includes Raw material like DCDA and Ammonia.EBITDA margins are 10.8% fell by 190 bps due to low gross profitability and high fuel and power costs.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 - Gross Margins at the Lowest Level

<ul><li>We believe the company’s profitability might be hit due to the above factors, prompting us to recommend a HOLD rating on the stock with TP Rs 450/share.</li><li>Aarti Drugs Q4FY22 reported revenue grew 38% YoY which stood above our expectations, led by healthy growth in Chronic therapies, especially in the anti- diabetic segment.</li><li>Domestic revenue grew ~37% on a YoY basis while exports grew by around 50% YoY and API volumes grew 23% on a YoY basis.</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.

We believe the company’s profitability might be hit due to the above factors, prompting us to recommend a HOLD rating on the stock with TP Rs 450/share.Aarti Drugs Q4FY22 reported revenue grew 38% YoY which stood above our expectations, led by healthy growth in Chronic therapies, especially in the anti- diabetic segment.Domestic revenue grew ~37% on a YoY basis while exports grew by around 50% YoY and API volumes grew 23% on a YoY basis.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: Price Hike and New Capacity to Aid in Growth

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.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Aarti Drugs (ARTD IN)

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

Aarti Drugs Ltd - Volume Growth Offset by Low Realizations

Aarti Drugs’ reported Q1FY24 results stood below our expectations due to a fall in exports which comprised Formulations (+6%YoY) and Speciality...

Axis Direct

Aarti Drugs Ltd - API Volumes Expected to Pick Up in the Upcoming Quarters

Aarti Drugs’ reported Q4FY23 results stood above our expectations, led by an increase in volume uptick and improvement in the operating...

Axis Direct

Aarti Drugs LTD - Gross Margins at the Lowest Level

Aarti Drugs (ARTD) reported lowest Gross margins 30% YoY in last 4 years due to price correction of high cost inventory that includes Raw material...

Axis Direct

Aarti Drugs: Price Hike and New Capacity to Aid in Growth

We believe the company’s profitability might be hit due to the above factors, prompting us to recommend a HOLD rating on the stock with TP Rs...

Axis Direct

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)