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

InterGlobe Aviation Ltd / Equity Bottom-Up

<ul><li>Interglobe Aviation Limited (IndiGo) is an India-based company, engaged in the airline business.</li><li>IndiGo is engaged in air transportation and pre-flight and post-flight ground handling operations, including passenger and cargo services and providing related allied services, such as in-flight sales, ground handling business, and other allied services at the airports.</li><li>With over 3 Lc customers a day for FY24, Indigo is increasing its foothold on not just the Indian but also the global aviation stage.</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.

Interglobe Aviation Limited (IndiGo) is an India-based company, engaged in the airline business.IndiGo is engaged in air transportation and pre-flight and post-flight ground handling operations, including passenger and cargo services and providing related allied services, such as in-flight sales, ground handling business, and other allied services at the airports.With over 3 Lc customers a day for FY24, Indigo is increasing its foothold on not just the Indian but also the global aviation stage.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 Punch: Interglobe Aviations Ltd - 16th April, 2025

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

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>INDIGO reported flat YoY EBITDA at INR51.6b and PAT of INR24.4b (est. INR36.9b) in 3QFY25. Excl. forex loss/gain, EBITDA was 5% above our estimate.</li><li>Revenue passenger kilometers (RPK) stood at 35.5b. Passenger load factor (PLF) was 87%, with available seat kilometers (ASK) of 40.8b (est. 40.9b) and yield of INR5.43 (est. INR5.37, down 1% YoY) in 3Q.</li><li>Management highlighted that the quarter saw robust air travel by customers thanks to the festive season, year-end holidays and a general rise in consumer demand. </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.

INDIGO reported flat YoY EBITDA at INR51.6b and PAT of INR24.4b (est. INR36.9b) in 3QFY25. Excl. forex loss/gain, EBITDA was 5% above our estimate.Revenue passenger kilometers (RPK) stood at 35.5b. Passenger load factor (PLF) was 87%, with available seat kilometers (ASK) of 40.8b (est. 40.9b) and yield of INR5.43 (est. INR5.37, down 1% YoY) in 3Q.Management highlighted that the quarter saw robust air travel by customers thanks to the festive season, year-end holidays and a general rise in consumer demand. 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.

InterGlobe Aviation - Strong Quarter Led by Robust Air Travel Demand

External broker reports(aggregated public sources), Emkay Global Financial Services Limited

Emkay

Emkay Global Financial Services Limited

Emkay Global Financial Services Ltd. is a leader in the financial services sector, actively creating wealth for our clients for over two decades. 

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>Indigo posted robust results in Q3FY25, with SA EBITDA of Rs66.2bn – a 15% beat.</li><li>This was driven by a 3% beat each on RASK/yields, while fuel cost and rentals were also lower.</li><li>CASK ex-fuel and forex (Fx) was only 1% above our estimate, though net Fx loss was high at Rs14bn.</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.

Indigo posted robust results in Q3FY25, with SA EBITDA of Rs66.2bn – a 15% beat.This was driven by a 3% beat each on RASK/yields, while fuel cost and rentals were also lower.CASK ex-fuel and forex (Fx) was only 1% above our estimate, though net Fx loss was high at Rs14bn.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.

InterGlobe Aviation - Strong Quarter with Beat on Yields

Thematic (Sector/Industry)

<ul><li>Overview: Stock investment endeavors to deliver consistent outperformance over the long term by making a diversified investment of ‘Winners’.</li><li>The Axis Intellect AI score strategy adopts unique approach to deliver alpha by applying equal exposure to ‘Core’ factors: Value, Growth, Quality, Momentum.</li><li>Key features • Consistently outperformed the benchmark with superior returns</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.

Overview: Stock investment endeavors to deliver consistent outperformance over the long term by making a diversified investment of ‘Winners’.The Axis Intellect AI score strategy adopts unique approach to deliver alpha by applying equal exposure to ‘Core’ factors: Value, Growth, Quality, Momentum.Key features • Consistently outperformed the benchmark with superior returnsContent 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>Stock investment endeavours to deliver consistent outperformance in the long term by making a diversified investment of ‘Winners’.</li><li>Axis Intellect (AI) Score based Investment Approach for Stock Selection applies unique approach to deliver alpha by applying equal exposure to ‘Core’ and ‘Satellite’ factors.</li><li>What are ‘Core’ Factors’: Low Volatility, Value, Growth, Quality, Momentum (Equal weighted 50% exposure) </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.

Stock investment endeavours to deliver consistent outperformance in the long term by making a diversified investment of ‘Winners’.Axis Intellect (AI) Score based Investment Approach for Stock Selection applies unique approach to deliver alpha by applying equal exposure to ‘Core’ and ‘Satellite’ factors.What are ‘Core’ Factors’: Low Volatility, Value, Growth, Quality, Momentum (Equal weighted 50% exposure) 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

InterGlobe Aviation Limited provides passenger airlines services. The Company offers ground management, air transportation, terminal maintenance, and other services. InterGlobe Aviation conducts its business globally.

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InterGlobe Aviation Ltd (INDIGO IN)

Axis Punch: Interglobe Aviations Ltd - 16th April, 2025

IndiGo is engaged in air transportation and pre-flight and post-flight ground handling operations, including passenger and cargo services and...

Axis Direct

InterGlobe Aviation - Strong Quarter Led by Robust Air Travel Demand

INDIGO reported flat YoY EBITDA at INR51.6b and PAT of INR24.4b (est. INR36.9b) in 3QFY25. Excl. forex loss/gain, EBITDA was 5% above our estimate.

Motilal Oswal

InterGlobe Aviation - Strong Quarter with Beat on Yields

Indigo posted robust results in Q3FY25, with SA EBITDA of Rs66.2bn – a 15% beat.This was driven by a 3% beat each on RASK/yields, while fuel cost...

Emkay

Axis Intellect - Balanced

Stock investment endeavors to deliver consistent outperformance over the long term by making a diversified investment of ‘Winners

Axis Direct

Axis Intellect - Aggressive

Stock investment endeavours to deliver consistent outperformance in the long term by making a diversified investment of ‘Winners’.

Axis Direct

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