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>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>We anticipate road construction companies under our coverage to report revenue, EBITDA, and APAT growth of 11%, 8%, and 8% respectively YoY.</li><li>This expected growth can be attributed to improved execution by infrastructure companies, which consequently supported higher profitability during the quarter.</li><li>We estimate EBITDA margins to be 15%, compared to 14.5% QoQ and 15.5% 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.

We anticipate road construction companies under our coverage to report revenue, EBITDA, and APAT growth of 11%, 8%, and 8% respectively YoY.This expected growth can be attributed to improved execution by infrastructure companies, which consequently supported higher profitability during the quarter.We estimate EBITDA margins to be 15%, compared to 14.5% QoQ and 15.5% 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.

Equity Bottom-Up

<ul><li>GR Infraprojects Ltd. (GRIL) reported a weak set of numbers in Q3FY24.</li><li>The company recorded revenue of Rs 1,806 Cr, a decrease of 5% YoY, attributed to the delay in awarding AD for HAM projects.</li><li>EBIDTA stood at Rs 228 Cr, down 18% YoY, below expectations due to delay in receiving appointed date,negative operating leverage and delays in realizing operating revenue. </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.

GR Infraprojects Ltd. (GRIL) reported a weak set of numbers in Q3FY24.The company recorded revenue of Rs 1,806 Cr, a decrease of 5% YoY, attributed to the delay in awarding AD for HAM projects.EBIDTA stood at Rs 228 Cr, down 18% YoY, below expectations due to delay in receiving appointed date,negative operating leverage and delays in realizing operating revenue. 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.

GR Infraprojects Ltd - Challenging Quarter; Retain HOLD

<ul><li>We expect road construction companies under our coverage to report Revenue/EBITDA/APAT growth of 14%11%/13% YoY.</li><li>The expected growth can be attributed to better execution by Infra companies, which in turn, supported higher profitability during the quarter.</li><li>We estimate EBITDA margins to be 15.2% against 14.8%/15.7% QoQ/YoY. H2 is traditionally a better period for project execution for infra companies and profitability tends to improve. </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 expect road construction companies under our coverage to report Revenue/EBITDA/APAT growth of 14%11%/13% YoY.The expected growth can be attributed to better execution by Infra companies, which in turn, supported higher profitability during the quarter.We estimate EBITDA margins to be 15.2% against 14.8%/15.7% QoQ/YoY. H2 is traditionally a better period for project execution for infra companies and profitability tends to improve. 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>The revenue from operations grew by 2.9%to Rs 8,148 Cr in FY23 from Rs 7,919 Cr in FY22.</li><li>The said growth was largely contributed by the increase in the sale of services and products and the increase in other operating revenue.</li><li>As of 31st Mar’23, the company’s order book stood at Rs 26,780 Cr.</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.

The revenue from operations grew by 2.9%to Rs 8,148 Cr in FY23 from Rs 7,919 Cr in FY22.The said growth was largely contributed by the increase in the sale of services and products and the increase in other operating revenue.As of 31st Mar’23, the company’s order book stood at Rs 26,780 Cr.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.

G R Infraprojects Ltd - Delay in Appointed Date to Impact Revenue Growth

India

G R Infraprojects Limited provides infrastructure construction services. The Company constructs and maintains roads, highways, bridges, culverts, flyovers, and airport runways. G R Infraprojects serves customers in India.

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G R Infraprojects (GRINFRA IN)

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

Infra-Road Q4FY24 Earnings Preview

We anticipate road construction companies under our coverage to report revenue, EBITDA, and APAT growth of 11%, 8%, and 8% respectively YoY.

Axis Direct

GR Infraprojects Ltd - Challenging Quarter; Retain HOLD

EBIDTA stood at Rs 228 Cr, down 18% YoY, below expectations due to delay in receiving appointed date,negative operating leverage and delays in...

Axis Direct

Infra-Road Q3FY24 Earnings Preview

We estimate EBITDA margins to be 15.2% against 14.8%/15.7% QoQ/YoY. H2 is traditionally a better period for project execution for infra companies...

Axis Direct

G R Infraprojects Ltd - Delay in Appointed Date to Impact Revenue Growth

The said growth was largely contributed by the increase in the sale of services and products and the increase in other operating revenue.

Axis Direct

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