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>Sequential Margin Gains with Upside from Volume Recovery: Automotive Axle Ltd. (AAL) delivered a steady improvement in profitability, with EBITDA margins rising to 11.4% in Q3FY26, up from 10.5% in the preceding quarter and 10.8% in the corresponding period last year, reflecting effective cost management and an improved product mix.</li><li>Management remains confident of achieving mid-teen EBITDA margins (13%+) in the near term, contingent on a recovery in market volumes.</li><li>With higher capacity utilization and better fixed cost absorption expected in Q4FY26 and FY27, operating leverage is likely to further support margin expansion and sustain the upward trajectory in profitability</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.

Sequential Margin Gains with Upside from Volume Recovery: Automotive Axle Ltd. (AAL) delivered a steady improvement in profitability, with EBITDA margins rising to 11.4% in Q3FY26, up from 10.5% in the preceding quarter and 10.8% in the corresponding period last year, reflecting effective cost management and an improved product mix.Management remains confident of achieving mid-teen EBITDA margins (13%+) in the near term, contingent on a recovery in market volumes.With higher capacity utilization and better fixed cost absorption expected in Q4FY26 and FY27, operating leverage is likely to further support margin expansion and sustain the upward trajectory in profitabilityContent 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.

Automotive Axles Ltd - Sequential Margin Upswing with Volume-Led Upside

<ul><li>Sequential Margin Gains with Upside from Volume Recovery: Automotive Axle Ltd. (AAL) delivered a steady improvement in profitability, with EBITDA margins rising to 10.5% in Q2FY26, up from 9.8% in the preceding quarter and 10.3% in the corresponding period last year, reflecting effective cost management and an improved product mix.</li><li>Management remains confident of achieving mid-teen EBITDA margins (13%+) in the near term, contingent on a recovery in market volumes.</li><li>With higher capacity utilization and better fixed cost absorption expected in H2FY26, operating leverage is likely to further support margin expansion and sustain the upward trajectory in profitability</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.

Sequential Margin Gains with Upside from Volume Recovery: Automotive Axle Ltd. (AAL) delivered a steady improvement in profitability, with EBITDA margins rising to 10.5% in Q2FY26, up from 9.8% in the preceding quarter and 10.3% in the corresponding period last year, reflecting effective cost management and an improved product mix.Management remains confident of achieving mid-teen EBITDA margins (13%+) in the near term, contingent on a recovery in market volumes.With higher capacity utilization and better fixed cost absorption expected in H2FY26, operating leverage is likely to further support margin expansion and sustain the upward trajectory in profitabilityContent 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.

Automotive Axles Ltd - New Business Model Unlocks Margin Upside

Thematic (Sector/Industry)

<ul><li>Axis Top Picks: We are proud to share that our Axis Top Picks basket delivered impressive returns of 43% over the last one year, beating the benchmark Nifty 50 index (21.6% return over the same period) by a wide margin.</li><li>A few picks that reported excellent returns included PNC Infratech (15.5%), CIE Automotive India (8.5%), Coal India (8.1%), TVS Motor Company (5.8%), and Bharti Airtel (3.8%).</li><li>You can refer to our latest report here. Pick of the Week (PoW): POW calls delivered an astounding monthly strike rate of 88% in May’24. </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.

Axis Top Picks: We are proud to share that our Axis Top Picks basket delivered impressive returns of 43% over the last one year, beating the benchmark Nifty 50 index (21.6% return over the same period) by a wide margin.A few picks that reported excellent returns included PNC Infratech (15.5%), CIE Automotive India (8.5%), Coal India (8.1%), TVS Motor Company (5.8%), and Bharti Airtel (3.8%).You can refer to our latest report here. Pick of the Week (PoW): POW calls delivered an astounding monthly strike rate of 88% in May’24. 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.

Key Highlights of the Month – Fundamental

<ul><li>Q3FY24 earnings season was marked by a) Strong domestic macroeconomic environment, b) Festival season c) Robust PMI manufacturing and Services, d) Stronger E-way bill and GST collection, and e) Strong pickup in electricity demand.</li><li>Backed by these factors, domestic-facing sectors largely enjoyed the economic recovery and hence, margins may surprise positively.</li><li>Most of the domestic high-frequency indicators have trended higher during the quarter which is likely to translate into good demand momentum for the domestic corporate segment. However, at this juncture, commentaries on margins and the guidance for the upcoming quarter remain critical. </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.

Q3FY24 earnings season was marked by a) Strong domestic macroeconomic environment, b) Festival season c) Robust PMI manufacturing and Services, d) Stronger E-way bill and GST collection, and e) Strong pickup in electricity demand.Backed by these factors, domestic-facing sectors largely enjoyed the economic recovery and hence, margins may surprise positively.Most of the domestic high-frequency indicators have trended higher during the quarter which is likely to translate into good demand momentum for the domestic corporate segment. However, at this juncture, commentaries on margins and the guidance for the upcoming quarter remain critical. 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>Pick of the Week (PoW): Our POW calls delivered an astounding monthly strike rate of 88% in Nov’23.</li><li>Calls that successfully achieved their target were Coforge (11%), JK Lakshmi Cement (10%), Automotive Axles (10%), Cyient (10%), and Minda Corporation (10%).</li><li>Axis Top Picks: We are proud to share that our Axis Top Picks basket delivered impressive returns of 31% in the last one year (till 1st Dec’23), notably beating the benchmark Nifty 50 index which grew by only 8% over the same period. </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.

Pick of the Week (PoW): Our POW calls delivered an astounding monthly strike rate of 88% in Nov’23.Calls that successfully achieved their target were Coforge (11%), JK Lakshmi Cement (10%), Automotive Axles (10%), Cyient (10%), and Minda Corporation (10%).Axis Top Picks: We are proud to share that our Axis Top Picks basket delivered impressive returns of 31% in the last one year (till 1st Dec’23), notably beating the benchmark Nifty 50 index which grew by only 8% over the same period. 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.

Axis Research Scorecard Report for Nov 2023

India

Automotive Axles Ltd. manufactures drive axle assemblies and related auto parts.

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Automotive Axles (ATXL IN)

Automotive Axles Ltd - Sequential Margin Upswing with Volume-Led Upside

Management remains confident of achieving mid-teen EBITDA margins (13%+) in the near term, contingent on a recovery in market volumes.

Axis Direct

Automotive Axles Ltd - New Business Model Unlocks Margin Upside

Automotive Axle Ltd. (AAL) delivered a steady improvement in profitability, with EBITDA margins rising to 10.5% in Q2FY26, up form 9.8% in the...

Axis Direct

Key Highlights of the Month – Fundamental

We are proud to share that our Axis Top Picks basket delivered impressive returns of 43% over the last one year, beating the benchmark Nifty 50...

Axis Direct

Q3FY24 Consolidated Preview

Q3FY24 earnings season was marked by a) Strong domestic macroeconomic environment, b) Festival season c) Robust PMI manufacturing and Services

Axis Direct

Axis Research Scorecard Report for Nov 2023

We are proud to share that our Axis Top Picks basket delivered impressive returns of 31% in the last one year (till 1st Dec’23), notably beating...

Axis Direct

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