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>Affle Ltd. (Affle) reported strong growth backed by robust device addition and healthy international business.</li><li>The company's Q2FY23 revenue stood at Rs 355 Cr, up 2% QoQ and 29.1% YoY, aided by robust device addition and strong CPCU business.</li><li>The company’s operating margins improved by 50bps QoQ to 20.3% (in line with the management expectations) due to lower inventory and data costs. </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>

Affle Ltd. (Affle) reported strong growth backed by robust device addition and healthy international business.The company's Q2FY23 revenue stood at Rs 355 Cr, up 2% QoQ and 29.1% YoY, aided by robust device addition and strong CPCU business.The company’s operating margins improved by 50bps QoQ to 20.3% (in line with the management expectations) due to lower inventory and data 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.

Affle (India) Ltd - Encouraging Expansions in Margins: Outlook Remains Healthy

<ul><li>Affle Ltd. (Affle) reported a strong growth backed by robust device addition and healthy international business.</li><li>The company's Q1FY23 revenue stood at Rs 347 Cr, up 10.3% QoQ and 128% YoY, aided by robust device addition and strong CPCU business.</li><li>The company’s operating margins improved by 120bps QoQ to 19.8% (in line with the management expectations) due to lower inventory and data costs.</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>

Affle Ltd. (Affle) reported a strong growth backed by robust device addition and healthy international business.The company's Q1FY23 revenue stood at Rs 347 Cr, up 10.3% QoQ and 128% YoY, aided by robust device addition and strong CPCU business.The company’s operating margins improved by 120bps QoQ to 19.8% (in line with the management expectations) due to lower inventory and data 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.

Affle (India) Ltd - Robust Results Beat on All Fronts; Outlook Remains Healthy

<ul><li>Affle Ltd. (Affle) reported a strong growth backed by robust device addition. The company's Q4FY21 revenue stood at Rs 315 Cr, decline 7.2% QoQ and grew 123% YoY due to seasonally weak demand during the quarter.</li><li>Its Operating Margins decline by 130bps QoQ to 18.6% (in line with the management expectations) due higher inventory and data cost</li><li>We recommend a BUY on the stock and assign a 32x P/E multiple to its FY24E earnings of Rs 35.94/share which gives a TP of Rs 1,140/share, implying an upside potential of 18% from CMP.</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>

Affle Ltd. (Affle) reported a strong growth backed by robust device addition. The company's Q4FY21 revenue stood at Rs 315 Cr, decline 7.2% QoQ and grew 123% YoY due to seasonally weak demand during the quarter.Its Operating Margins decline by 130bps QoQ to 18.6% (in line with the management expectations) due higher inventory and data costWe recommend a BUY on the stock and assign a 32x P/E multiple to its FY24E earnings of Rs 35.94/share which gives a TP of Rs 1,140/share, implying an upside potential of 18% from CMP.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: Seasonally Weak Quarter; Outlook Remains Healthy

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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 India (Affle) is a technology platform that enables advertisers to do targeted advertising.</li><li>It helps advertisers to measure the effectiveness of advertisement as it charges only when a user downloads an app or completes a transaction</li><li>Target Price and Valuation: We value Affle at Rs 1,500 i.e. 67x P/E on FY24E EPS</li></ul><div class="content-highlight"><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></div>

Affle India (Affle) is a technology platform that enables advertisers to do targeted advertising.It helps advertisers to measure the effectiveness of advertisement as it charges only when a user downloads an app or completes a transactionTarget Price and Valuation: We value Affle at Rs 1,500 i.e. 67x P/E on FY24E EPSContent 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: Strong Growth in Converted Users

<ul>
<li>Affle Ltd. (Affle) reported a strong growth backed by robust device addition</li>
<li>The company's Q3FY21 revenue stood at Rs 339 Cr, up 23.6% QoQ and 125.5% YoY</li>
<li>We recommend a BUY on the stock and assign 49x P/E multiple to its FY24E earnings of Rs 29.46/share which gives a TP of Rs 1,450/share, implying an upside potential of 15% from CMP.</li>
</ul>
<div class="content-highlight"><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></div>


Affle Ltd. (Affle) reported a strong growth backed by robust device addition
The company's Q3FY21 revenue stood at Rs 339 Cr, up 23.6% QoQ and 125.5% YoY
We recommend a BUY on the stock and assign 49x P/E multiple to its FY24E earnings of Rs 29.46/share which gives a TP of Rs 1,450/share, implying an upside potential of 15% from CMP.

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: Growth Led by Robust Device Addition; Margin Profile to Improve

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)

Affle (India) Ltd - Encouraging Expansions in Margins: Outlook Remains Healthy

Affle Ltd. (Affle) reported strong growth backed by robust device addition and healthy international business. The company's Q2FY23 revenue stood...

Axis Direct

Affle (India) Ltd - Robust Results Beat on All Fronts; Outlook Remains Healthy

Affle Ltd. (Affle) reported a strong growth backed by robust device addition and healthy international business. The company's Q1FY23 revenue stood...

Axis Direct

Affle India: Seasonally Weak Quarter; Outlook Remains Healthy

We recommend a BUY on the stock and assign a 32x P/E multiple to its FY24E earnings of Rs 35.94/share which gives a TP of Rs 1,140/share, implying...

Axis Direct

Affle India: Strong Growth in Converted Users

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general...

ICICI Securities Limited

Affle India: Growth Led by Robust Device Addition; Margin Profile to Improve

We recommend a BUY on the stock and assign 49x P/E multiple to its FY24E earnings of Rs 29.46/share which gives a TP of Rs 1,450/share, implying an...

Axis Direct

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