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>Volume Growth Across All Segments: The company managed to garner total volume growth of 33% YoY.</li><li>The volume growth was particularly strong in Aluminium as the company liquidated the previously accumulated inventory.</li><li>Contribution from value-added products increased further during the quarter (46%), and the company continues to see improved domestic scrap availability due to recent regulatory changes. </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.

Volume Growth Across All Segments: The company managed to garner total volume growth of 33% YoY.The volume growth was particularly strong in Aluminium as the company liquidated the previously accumulated inventory.Contribution from value-added products increased further during the quarter (46%), and the company continues to see improved domestic scrap availability due to recent regulatory changes. 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.

Gravita India Ltd. - Volume Growth Continues; Maintain BUY

Thematic (Sector/Industry)

<ul><li>Chemicals &amp; Agrochemicals: Recent exports trends and pricing data indicates that most specialty chemical companies may continue to experience pricing pressures while there may be some signs of recovery in certain pockets.</li><li>We expect most of the companies to post volume lead revenue growth, while the margin expansion is expected to be limited due to competitive pricing.</li><li>Furthermore, with the logistical challenges persisting during the quarter, the export volumes and freight costs remained impacted. </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.

Chemicals &amp; Agrochemicals: Recent exports trends and pricing data indicates that most specialty chemical companies may continue to experience pricing pressures while there may be some signs of recovery in certain pockets.We expect most of the companies to post volume lead revenue growth, while the margin expansion is expected to be limited due to competitive pricing.Furthermore, with the logistical challenges persisting during the quarter, the export volumes and freight costs remained impacted. 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.

Q3FY25 Earnings Preview - Chemicals, Capital Goods and Midcaps

<ul><li>Continued volume growth in Lead and Aluminium: The company noted that recent regulatory changes have improved scrap availability, contributing to an overall volume growth of 8% during the quarter.</li><li>However, the reported volume growth was partially impacted as some output from the overseas subsidiary was utilized for manufacturing further refined products internally (in India).</li><li>The management reiterated its three-year volume growth expectations at a CAGR of 25%, which remains unchanged, and the company is expected to achieve a similar growth range in FY25.</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.

Continued volume growth in Lead and Aluminium: The company noted that recent regulatory changes have improved scrap availability, contributing to an overall volume growth of 8% during the quarter.However, the reported volume growth was partially impacted as some output from the overseas subsidiary was utilized for manufacturing further refined products internally (in India).The management reiterated its three-year volume growth expectations at a CAGR of 25%, which remains unchanged, and the company is expected to achieve a similar growth range in FY25.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.

Gravita India Ltd. - Volume and Margin Growth Continue; Maintain BUY

<ul><li>Samvat 2080 has proven to be a remarkable period for the Indian equity market, marked by the continuous achievement of new milestones each quarter.</li><li>Notably, our benchmark index, the Nifty 50, reached the historic milestone of 26,216 on September 26, 2024, for the first time ever.</li><li>This achievement has propelled the Indian market capitalization to surpass the $5 Trillion mark, positioning it as the fourth largest market globally. </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.

Samvat 2080 has proven to be a remarkable period for the Indian equity market, marked by the continuous achievement of new milestones each quarter.Notably, our benchmark index, the Nifty 50, reached the historic milestone of 26,216 on September 26, 2024, for the first time ever.This achievement has propelled the Indian market capitalization to surpass the $5 Trillion mark, positioning it as the fourth largest market globally. 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>Chemicals &amp; Agrochemicals: In Q2FY25, most specialty chemical companies under coverage are expected to show marginally improved performance, although demand recovery remains subdued and weak pricing persists.</li><li>Volume growth is anticipated compared to the previous quarter, which was affected by several headwinds, including weak demand (with exceptions in a few segments), logistical challenges at ports, and adverse weather conditions.</li><li>Growth prospects remain uncertain as a clear upward trend has yet to emerge.</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.

Chemicals &amp; Agrochemicals: In Q2FY25, most specialty chemical companies under coverage are expected to show marginally improved performance, although demand recovery remains subdued and weak pricing persists.Volume growth is anticipated compared to the previous quarter, which was affected by several headwinds, including weak demand (with exceptions in a few segments), logistical challenges at ports, and adverse weather conditions.Growth prospects remain uncertain as a clear upward trend has yet to emerge.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.

Q2FY25 Earnings Preview - Chemicals, Capital Goods and Midcaps

India

Gravita India Limited manufactures lead metal and other lead products by the recycling and smelting process. The Company produces lead ingots, lead alloys, and lead oxides.

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Gravita India (GRAV IN)

Gravita India Ltd. - Volume Growth Continues; Maintain BUY

The company managed to garner total volume growth of 33% YoY. The volume growth was particularly strong in Aluminium as the company liquidated the...

Axis Direct

Q3FY25 Earnings Preview - Chemicals, Capital Goods and Midcaps

Recent exports trends and pricing data indicates that most specialty chemical companies may continue to experience pricing pressures while there...

Axis Direct

Gravita India Ltd. - Volume and Margin Growth Continue; Maintain BUY

The company noted that recent regulatory changes have improved scrap availability, contributing to an overall volume growth of 8% during the quarter.

Axis Direct

Diamonds In The Dust - Samvat 2081

Samvat 2080 has proven to be a remarkable period for the Indian equity market, marked by the continuous achievement of new milestones each quarter.

Axis Direct

Q2FY25 Earnings Preview - Chemicals, Capital Goods and Midcaps

In Q2FY25, most specialty chemical companies under coverage are expected to show marginally improved performance, although demand recovery remains...

Axis Direct

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