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

Equitas Small Finance Bank  / Equity Bottom-Up

<ul>
<li>Disbursements grew by 29/4% YoY/QoQ, translating into healthy advances growth of 37/5% YoY/QoQ.</li>
<li>Advances growth was led by strong growth in the MFI (+42/4% YoY/QoQ), Vehicle Finance book (+38/6% YoY/QoQ) – led by used cars and new CVs, Small Business Loans (+32/7% YoY/QoQ) and Housing Loans (+69/12% YoY).</li>
<li>Deposits growth was robust at 42/11% YoY/QoQ, primarily led by growth in TDs (+82/20% YoY/QoQ).</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.


Disbursements grew by 29/4% YoY/QoQ, translating into healthy advances growth of 37/5% YoY/QoQ.
Advances growth was led by strong growth in the MFI (+42/4% YoY/QoQ), Vehicle Finance book (+38/6% YoY/QoQ) – led by used cars and new CVs, Small Business Loans (+32/7% YoY/QoQ) and Housing Loans (+69/12% YoY).
Deposits growth was robust at 42/11% YoY/QoQ, primarily led by growth in TDs (+82/20% YoY/QoQ).

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.

Equitas Small Finance Bank Ltd. - RoA of ~2% Deliverable with Improved Outlook on Margins!

<ul><li>Equitas SFB (EQSFB) is a leading diversified SFB that offers a wide-ranging suite of products, primarily catering to low and middle-income individuals as well as businesses that have limited or no access to formal banking and finance channels.</li><li>The bank operates through a network of 927 branches, with a majority of the branches in Tamil Nadu (TN).</li><li>Business growth expected to remain buoyant: In Q1FY24, EQSFB reported a robust and broad-based advances growth of 36/6% YoY/QoQ.</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.

Equitas SFB (EQSFB) is a leading diversified SFB that offers a wide-ranging suite of products, primarily catering to low and middle-income individuals as well as businesses that have limited or no access to formal banking and finance channels.The bank operates through a network of 927 branches, with a majority of the branches in Tamil Nadu (TN).Business growth expected to remain buoyant: In Q1FY24, EQSFB reported a robust and broad-based advances growth of 36/6% YoY/QoQ.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 - Equitas Small Finance Bank Ltd. - 11 SEP 2023

<ul><li>Disbursements grew by 47% YoY but de-grew by 20% QoQ (seasonal weakness).</li><li>Advances growth was robust at 36/6% YoY/QoQ and was broad-based.</li><li>Key focus segments such as MFI/SBL/Home Loans grew by 40/31/76% YoY and 8/7/12% QoQ. </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.

Disbursements grew by 47% YoY but de-grew by 20% QoQ (seasonal weakness).Advances growth was robust at 36/6% YoY/QoQ and was broad-based.Key focus segments such as MFI/SBL/Home Loans grew by 40/31/76% YoY and 8/7/12% QoQ. 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.

Equitas Small Finance Bank Ltd. - Eyeing RoA of 2% Despite Margin Pressures!

Thematic (Sector/Industry)

<ul><li>Our POW calls delivered an excellent Monthly strike rate of 84% in Oct’23.</li><li>Calls that successfully achieved their target were Nestle India (~10%), Aptus Value Housing Finance (10%), and Equitas Small Finance Bank (10%).</li><li>ICICI Bank LtdAxis Alpha reported an astounding monthly strike rate of 80% in Oct’23.</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.

Our POW calls delivered an excellent Monthly strike rate of 84% in Oct’23.Calls that successfully achieved their target were Nestle India (~10%), Aptus Value Housing Finance (10%), and Equitas Small Finance Bank (10%).ICICI Bank LtdAxis Alpha reported an astounding monthly strike rate of 80% in Oct’23.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 Oct 2023

<ul><li>Q1FY24 earnings season was marked by a) Strong domestic macroeconomic environment, b) Sequential improvement in high-frequency indicators, 3) Cool-off in key commodity prices, 4) Easing inflation expectations, and 5) Growth challenges in export-oriented demand.</li></ul><div><ul><li>Moreover, domestic-facing sectors are enjoying economic recovery as well.</li><li>Considering these factors collectively, the Q1FY24 earnings season is likely to deliver positive surprises on the margins front. </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.

Q1FY24 earnings season was marked by a) Strong domestic macroeconomic environment, b) Sequential improvement in high-frequency indicators, 3) Cool-off in key commodity prices, 4) Easing inflation expectations, and 5) Growth challenges in export-oriented demand.Moreover, domestic-facing sectors are enjoying economic recovery as well.Considering these factors collectively, the Q1FY24 earnings season is likely to deliver positive surprises on the margins front. 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.

India

Equitas Small Finance Bank Limited operates as a bank. The Bank offers savings accounts, fixed deposits, loans, debit and credit cards, investment, insurance, online services, and other related activities. Equitas Small Finance Bank serves clients in India.

Equitas Small Finance Bank  (EQUITASB IN)

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Equitas Small Finance Bank (EQUITASB IN)

Equitas Small Finance Bank Ltd. - RoA of ~2% Deliverable with Improved Outlook on Margins!

Disbursements grew by 29/4% YoY/QoQ, translating into healthy advances growth of 37/5% YoY/QoQ. Advances growth was led by strong growth in the MFI...

Axis Direct

Pick of the Week - Equitas Small Finance Bank Ltd. - 11 SEP 2023

Business growth expected to remain buoyant: In Q1FY24, EQSFB reported a robust and broad-based advances growth of 36/6% YoY/QoQ.

Axis Direct

Equitas Small Finance Bank Ltd. - Eyeing RoA of 2% Despite Margin Pressures!

Disbursements grew by 47% YoY but de-grew by 20% QoQ (seasonal weakness). Advances growth was robust at 36/6% YoY/QoQ and was broad-based.

Axis Direct

Axis Research Scorecard Report for Oct 2023

Our POW calls delivered an excellent Monthly strike rate of 84% in Oct’23. Calls that successfully achieved their target were Nestle India (~10%),...

Axis Direct

Q1FY24 Consolidated Preview

Considering these factors collectively, the Q1FY24 earnings season is likely to deliver positive surprises on the margins front.

Axis Direct

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