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>For road construction companies under our coverage universe, we expect Revenue/EBITDA/APAT growth of 14%/19%/27% YoY as better execution and softening in commodity prices support higher profitability during the quarter.</li><li>H2 (the second half of the year) is normally a strong period in terms of project execution along with bidding &amp; awarding activity accelerating and gaining pace during the period.</li><li>During Q3FY23, project awarding by the NHAI gained momentum and it awarded 1550 km of the project in Oct-Nov’22 against 810 km in H1FY23.</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.

For road construction companies under our coverage universe, we expect Revenue/EBITDA/APAT growth of 14%/19%/27% YoY as better execution and softening in commodity prices support higher profitability during the quarter.H2 (the second half of the year) is normally a strong period in terms of project execution along with bidding &amp; awarding activity accelerating and gaining pace during the period.During Q3FY23, project awarding by the NHAI gained momentum and it awarded 1550 km of the project in Oct-Nov’22 against 810 km in H1FY23.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.

Infra-Road - Q2fy23 Result Preview: Execution Drives Growth

Equity Bottom-Up

<ul><li>GR InfraprojectsLtd(GRIL)reported a weakset of numbers in Q2FY23.The company reported revenue of Rs1,777Cr(below estimate), up5% YoY.</li><li>It posted EBIDTA of Rs260Cr (below estimate),down6% YoY, and APAT of Rs164Cr (below estimate),up1% YoY.</li><li>The company registered EBITDA Margins of14.6%in Q2FY23(our estimate:15.3%) as against 16.4% in Q2FY22.</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 InfraprojectsLtd(GRIL)reported a weakset of numbers in Q2FY23.The company reported revenue of Rs1,777Cr(below estimate), up5% YoY.It posted EBIDTA of Rs260Cr (below estimate),down6% YoY, and APAT of Rs164Cr (below estimate),up1% YoY.The company registered EBITDA Margins of14.6%in Q2FY23(our estimate:15.3%) as against 16.4% in Q2FY22.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 - Execution Set To Improve; Retain BUY

<ul><li>For road construction companies under our coverage, we expect revenue growth of 10% YoY, EBITDA to be flattish, and APAT to de-grow by 2% YoY during the quarter.</li><li>Higher costs of a commodity such as steel, cement, aggregates, and diesel are expected to contract companies’ EBITDA margin by 150-200bps YoY.</li><li>In the Road Construction space, Q1and Q2 is normally a soft quarter in terms of project bidding and awarding and awarding activity normally accelerates in Q3 and Q4. </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.

For road construction companies under our coverage, we expect revenue growth of 10% YoY, EBITDA to be flattish, and APAT to de-grow by 2% YoY during the quarter.Higher costs of a commodity such as steel, cement, aggregates, and diesel are expected to contract companies’ EBITDA margin by 150-200bps YoY.In the Road Construction space, Q1and Q2 is normally a soft quarter in terms of project bidding and awarding and awarding activity normally accelerates in Q3 and Q4. 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.

Infra-Road - Robust Order Book, Outlook Positive

<ul><li>In FY22, G R Infraprojects reported operating revenue growth of 9.31% to Rs 7,919 Cr.</li><li>The growth was largely contributed by the increase in the sales of services and products and the increase in other operating revenue.</li><li>As of 31st March 2022, the company’s order book stands healthy at Rs 13,104 Cr. In FY22, it was awarded 10 projects with a combined order value of Rs 9,350 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.

In FY22, G R Infraprojects reported operating revenue growth of 9.31% to Rs 7,919 Cr.The growth was largely contributed by the increase in the sales of services and products and the increase in other operating revenue.As of 31st March 2022, the company’s order book stands healthy at Rs 13,104 Cr. In FY22, it was awarded 10 projects with a combined order value of Rs 9,350 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 - Robust Order Book

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund 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.

<ul><li>India’s long-awaited Capex cycle finally seems to be gathering momentum, after a hiatus of 10 years</li><li>While there were false starts in the last decade, we believe the recent post-COVID pick-up is looking sustainable and drivers are in place for multi-year growth</li><li>In this report, we have done a detailed bottom-up analysis of (a) 1,700+ government projects that are under implementation (explaining &gt;60% of total government Capex of FY22) and (b) Capex plans of top 400+ private sector companies to better understand the drivers and likely shape of the Capex demand curve</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.

India’s long-awaited Capex cycle finally seems to be gathering momentum, after a hiatus of 10 yearsWhile there were false starts in the last decade, we believe the recent post-COVID pick-up is looking sustainable and drivers are in place for multi-year growthIn this report, we have done a detailed bottom-up analysis of (a) 1,700+ government projects that are under implementation (explaining &gt;60% of total government Capex of FY22) and (b) Capex plans of top 400+ private sector companies to better understand the drivers and likely shape of the Capex demand curveContent 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 Equity Strategy - Capex: On a Sustainable Upswing

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.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

G R Infraprojects (GRINFRA IN)

Infra-Road - Q2fy23 Result Preview: Execution Drives Growth

H2 (the second half of the year) is normally a strong period in terms of project execution along with bidding & awarding activity accelerating and...

Axis Direct

GR Infraprojects Ltd - Execution Set To Improve; Retain BUY

GR InfraprojectsLtd(GRIL)reported a weakset of numbers in Q2FY23.The company reported revenue of Rs1,777Cr(below estimate), up5% YoY.

Axis Direct

Infra-Road - Robust Order Book, Outlook Positive

For road construction companies under our coverage, we expect revenue growth of 10% YoY, EBITDA to be flattish, and APAT to de-grow by 2% YoY...

Axis Direct

G R Infraprojects Ltd - Robust Order Book

As of 31st March 2022, the company’s order book stands healthy at Rs 13,104 Cr. In FY22, it was awarded 10 projects with a combined order value of...

Axis Direct

India Equity Strategy - Capex: On a Sustainable Upswing

While there were false starts in the last decade, we believe the recent post-COVID pick-up is looking sustainable and drivers are in place for...

HDFC Securities

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)