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.

Thematic (Sector/Industry)

<ul><li>IT Services sector is expected to report strong growth in Q4FY22 primarily on account of the new large deal wins and a ramp-up of deals won in the previous quarter despite seasonality furloughs</li><li>IT spending in North America and Europe has gained momentum and demand for digital transformation has increased exponentially</li><li>Furthermore, improved macro-economic opportunities across the globe are expected to provide further growth impetus to the sector moving forward</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.

IT Services sector is expected to report strong growth in Q4FY22 primarily on account of the new large deal wins and a ramp-up of deals won in the previous quarter despite seasonality furloughsIT spending in North America and Europe has gained momentum and demand for digital transformation has increased exponentiallyFurthermore, improved macro-economic opportunities across the globe are expected to provide further growth impetus to the sector moving forwardContent 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.

IT: Supply-Side Constraints Persist; Demand Robust

Equity Bottom-Up

<ul><li>Growth across markets: In Q1FY26, India and Global Emerging Markets collectively contributed 72.3% to revenue, growing by 18.1% YoY, indicating strong regional demand.</li><li>Developed markets registered a 23.3% YoY growth, contributing 27.7%, driven by deeper customer engagements.</li><li>Patent Grant: The company received a 14th patent grant in India for a "Method and System to Detect Advertisement Fraud," enhancing fraud detection capabilities across connected devices.</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.

Growth across markets: In Q1FY26, India and Global Emerging Markets collectively contributed 72.3% to revenue, growing by 18.1% YoY, indicating strong regional demand.Developed markets registered a 23.3% YoY growth, contributing 27.7%, driven by deeper customer engagements.Patent Grant: The company received a 14th patent grant in India for a "Method and System to Detect Advertisement Fraud," enhancing fraud detection capabilities across connected devices.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.

Affle 3i Ltd - Mix Bag Performance; Strong Momentum to Continue

External broker reports(aggregated public sources), Sharekhan

Sharekhan

Sharekhan is India's leading broking house providing services from easy online trading, research to wide array of financial products. 

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.

<ul><li>Affle’s revenue grew 10.8% q-o-q/20.6% y-o-y to Rs. 602 crore, beating our estimate of Rs. 591 crore.</li><li>EBITDA margin improved 96 bps q-o-q/245 bps y-o-y to 21.8%, beating our estimate of 21%.</li><li>Converted users grew 9% q-o-q/23.3% y-o-y to 103.3 crore. Despite global macroeconomic uncertainty, management is confident of achieving and sustaining over 20% growth in FY25, as industry tailwinds remain intact.</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.

Affle’s revenue grew 10.8% q-o-q/20.6% y-o-y to Rs. 602 crore, beating our estimate of Rs. 591 crore.EBITDA margin improved 96 bps q-o-q/245 bps y-o-y to 21.8%, beating our estimate of 21%.Converted users grew 9% q-o-q/23.3% y-o-y to 103.3 crore. Despite global macroeconomic uncertainty, management is confident of achieving and sustaining over 20% growth in FY25, as industry tailwinds remain intact.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.

<ul><li>Reported revenue grew 4.5% q-o-q/25.9 y-o-y to Rs. 543 crore, beating our estimates of Rs. 533 crore.</li><li>EBITDA margin improved 76 bps q-o-q/65 bps y-o-y to 20.9%, beating our estimates of 20.3%.</li><li>Converted users grew 4.4% q-o-q/31.7% y-o-y to 9.5 crore. </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.

Reported revenue grew 4.5% q-o-q/25.9 y-o-y to Rs. 543 crore, beating our estimates of Rs. 533 crore.EBITDA margin improved 76 bps q-o-q/65 bps y-o-y to 20.9%, beating our estimates of 20.3%.Converted users grew 4.4% q-o-q/31.7% y-o-y to 9.5 crore. 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.

Affle (India) Ltd - Strong Q2, Maintain Buy

<ul><li>Company expects to achieve sustainable organic growth of 20% y-o-y with India and global emerging markets growing little over 20% y-o-y and developed markets growing at 17-20% y-o-y.</li><li>Management expects 50-60 bps y-o-y expansion in EBITDA margin and aims to reach an aspirational EBITDA margin of 22-23%.</li><li>Strong cash flows and healthy balance sheet ensures that it can continue to invest to drive long-term sustainable growth through technology innovation, market expansion, and consolidation.</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.

Company expects to achieve sustainable organic growth of 20% y-o-y with India and global emerging markets growing little over 20% y-o-y and developed markets growing at 17-20% y-o-y.Management expects 50-60 bps y-o-y expansion in EBITDA margin and aims to reach an aspirational EBITDA margin of 22-23%.Strong cash flows and healthy balance sheet ensures that it can continue to invest to drive long-term sustainable growth through technology innovation, market expansion, and consolidation.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.

Affle (India) Ltd - Well Placed to Deliver Strong Organic Growth

India

Affle 3i Limited is a global technology company that provides a consumer intelligence platform, delivering consumer engagements, acquisitions, and transactions through mobile advertising. The company operates on a Cost Per Converted User (CPCU) model, transforming online and offline user data into actionable insights for brands. It was incorporated in 1994 and is headquartered in Gurugram, India.

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Affle 3i (AFFLE IN)

IT: Supply-Side Constraints Persist; Demand Robust

IT Services sector is expected to report strong growth in Q4FY22 primarily on account of the new large deal wins and a ramp-up of deals won in the...

Axis Direct

Affle 3i Ltd - Mix Bag Performance; Strong Momentum to Continue

Growth across markets: In Q1FY26, India and Global Emerging Markets collectively contributed 72.3% to revenue, growing by 18.1% YoY, indicating...

Axis Direct

Affle (India) Ltd - Robust Quarter

Affle’s revenue grew 10.8% q-o-q/20.6% y-o-y to Rs. 602 crore, beating our estimate of Rs. 591 crore. EBITDA margin improved 96 bps q-o-q/245 bps y...

Sharekhan

Affle (India) Ltd - Strong Q2, Maintain Buy

Reported revenue grew 4.5% q-o-q/25.9 y-o-y to Rs. 543 crore, beating our estimates of Rs. 533 crore. EBITDA margin improved 76 bps q-o-q/65 bps y...

Sharekhan

Affle (India) Ltd - Well Placed to Deliver Strong Organic Growth

Company expects to achieve sustainable organic growth of 20% y-o-y with India and global emerging markets growing little over 20% y-o-y and...

Sharekhan

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