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.

Equity Bottom-Up

<ul><li>Largely In Line Q2: EBITDA came in at Rs 228 Cr (up 32%/24% YoY/QoQ), in line with consensus and ahead of our estimates, driven by stronger-than-expected execution at 202 GW (vs. our estimate at 190 GW).</li><li>EBITDA margin stood at 20% ahead of the 18-19% guidance.</li><li>Strong Orderbook and Sustained Visibility: Orderbook stands at 3,235 MW (marginally up from 3,108 MW in Q1FY26), driven by 380 MW of inflows vs. 348 MW supplies in H1FY26. </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.

Largely In Line Q2: EBITDA came in at Rs 228 Cr (up 32%/24% YoY/QoQ), in line with consensus and ahead of our estimates, driven by stronger-than-expected execution at 202 GW (vs. our estimate at 190 GW).EBITDA margin stood at 20% ahead of the 18-19% guidance.Strong Orderbook and Sustained Visibility: Orderbook stands at 3,235 MW (marginally up from 3,108 MW in Q1FY26), driven by 380 MW of inflows vs. 348 MW supplies in H1FY26. 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.

Inox Wind Limited - Q2 Largely In Line with Consensus; H2FY26 Execution Under Focus

Thematic (Sector/Industry)

<ul><li>The Finance Minister of India will present the full-year Union Budget for FY24-25 on 23rd July’24.</li><li>The impact of the Union Budget on the equity market has reduced notably over the past few years with the government undertaking most of the reforms outside the purview of the Budget.</li><li>As it is the first full-year budget after the formation of the NDA 3.0 government, market participants continue to view it as a critical catalyst stimulating the Indian economy’s growth and thereby the Indian market.</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 Finance Minister of India will present the full-year Union Budget for FY24-25 on 23rd July’24.The impact of the Union Budget on the equity market has reduced notably over the past few years with the government undertaking most of the reforms outside the purview of the Budget.As it is the first full-year budget after the formation of the NDA 3.0 government, market participants continue to view it as a critical catalyst stimulating the Indian economy’s growth and thereby the Indian market.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.

Pre Union Budget Expectations 2024-25: Budget Likely to Strengthen the Narrative of “Viksit Bharat”

<ul><li>Margin Guidance Revised Upwards: The company’s EBITDA margins stood robust at 22% in Q1FY26.</li><li>It has revised the EBITDA margin guidance upwards, from 17-18% to 18-19% for FY26 post strong Q1 performance, along with initiatives like 1,200 MW of New Nacelle plant and Hub manufacturing unit in Gujarat and deployment of the first set of cranes on project sites.</li><li>Execution guidance unchanged: Q1FY26 execution stood weak at 146 MW, up only 4% YoY but down 38% 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.

Margin Guidance Revised Upwards: The company’s EBITDA margins stood robust at 22% in Q1FY26.It has revised the EBITDA margin guidance upwards, from 17-18% to 18-19% for FY26 post strong Q1 performance, along with initiatives like 1,200 MW of New Nacelle plant and Hub manufacturing unit in Gujarat and deployment of the first set of cranes on project sites.Execution guidance unchanged: Q1FY26 execution stood weak at 146 MW, up only 4% YoY but down 38% 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.

Inox Wind Limited - Q1FY26 Earnings Call: Execution Guidance Unchanged...

<ul><li>EBITDA and PAT Beats Consensus: The company’s EBITDA and PAT grew 35% and 93% YoY, respectively, beating our and consensus estimates.</li><li>EBITDA margins stood at 22%, well above the guidance of 17%.</li><li>During the quarter, the company has taken a deferred tax charge of Rs 40 Cr, which is a non-cash accounting adjustment. </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.

EBITDA and PAT Beats Consensus: The company’s EBITDA and PAT grew 35% and 93% YoY, respectively, beating our and consensus estimates.EBITDA margins stood at 22%, well above the guidance of 17%.During the quarter, the company has taken a deferred tax charge of Rs 40 Cr, which is a non-cash accounting adjustment. 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.

Inox Wind Limited - Execution Shortfall; Margins Surprise

<ul><li>Guidance Maintained: Execution in Q4FY25 stood at 236 MW, up 83%/25% YoY/QoQ, while FY25 execution was at 705 MW (up 88% YoY), a shortfall against the company’s guidance of 800 MW.</li><li>However, it has maintained its 1,200 MW/2GW execution guidance for FY26/FY27, respectively.</li><li>Execution pace was skewed towards H2FY25, and even in FY26, we expect 60% of its execution target to be met in H2FY26.</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.

Guidance Maintained: Execution in Q4FY25 stood at 236 MW, up 83%/25% YoY/QoQ, while FY25 execution was at 705 MW (up 88% YoY), a shortfall against the company’s guidance of 800 MW.However, it has maintained its 1,200 MW/2GW execution guidance for FY26/FY27, respectively.Execution pace was skewed towards H2FY25, and even in FY26, we expect 60% of its execution target to be met in H2FY26.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.

Inox Wind Limited - FY25 Execution Shortfall, But Outlook Remains Bright

India

INOX India (INOX) is a manufacturer of cryogenic equipment.

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

INOX India Limited (INOX IN)

Inox Wind Limited - Q2 Largely In Line with Consensus; H2FY26 Execution Under Focus

Largely In Line Q2: EBITDA came in at Rs 228 Cr (up 32%/24% YoY/QoQ), in line with consensus and ahead of our estimates, driven by stronger-than...

Axis Direct

Pre Union Budget Expectations 2024-25: Budget Likely to Strengthen the Narrative of “Viksit Bharat”

The impact of the Union Budget on the equity market has reduced notably over the past few years with the government undertaking most of the reforms...

Axis Direct

Inox Wind Limited - Q1FY26 Earnings Call: Execution Guidance Unchanged...

The company’s EBITDA margins stood robust at 22% in Q1FY26. It has revised the EBITDA margin guidance upwards, from 17-18% to 18-19% for FY26 post...

Axis Direct

Inox Wind Limited - Execution Shortfall; Margins Surprise

The company’s EBITDA and PAT grew 35% and 93% YoY, respectively, beating our and consensus estimates. EBITDA margins stood at 22%, well above the...

Axis Direct

Inox Wind Limited - FY25 Execution Shortfall, But Outlook Remains Bright

Guidance Maintained: Execution in Q4FY25 stood at 236 MW, up 83%/25% YoY/QoQ, while FY25 execution was at 705 MW (up 88% YoY), a shortfall against...

Axis Direct

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)