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

Motilal Oswal

External broker reports(aggregated public sources)

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.

Equity Bottom-Up

<ul><li>Motilal Oswal's research report onJK Lakshmi Cement JK Lakshmi Cement (JKLC) is expanding its grinding capacity to ~24mtpa/30mtpa by FY27E/FY30E from the existing 14mtpa (including Udaipur Cement Work).</li><li>Following the release of its 3QFY24 earnings, JKLC announced its next phase of expansion in the east and central regions (through a mix of brownfield and greenfield mode).</li><li>Additionally, JKLC has announced an acquisition in the north-east region with an aim to broaden its market presence.</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.

Motilal Oswal's research report onJK Lakshmi Cement JK Lakshmi Cement (JKLC) is expanding its grinding capacity to ~24mtpa/30mtpa by FY27E/FY30E from the existing 14mtpa (including Udaipur Cement Work).Following the release of its 3QFY24 earnings, JKLC announced its next phase of expansion in the east and central regions (through a mix of brownfield and greenfield mode).Additionally, JKLC has announced an acquisition in the north-east region with an aim to broaden its market presence.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.

JK Lakshmi Cement - Accelerating the Market Footprint

External broker reports(aggregated public sources), Axis Direct

Axis Direct

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>The companies under our coverage reported Volume/Revenue/EBITDA/APAT growth of 8%/10%/57%/106% YoY against expectations of 6%/9%/50%/90%.</li><li>EBITDA margins improved by 590bps/370bps YoY/QoQ driven by higher realization and lower operating costs. EBITDA/tonne for the quarter stood at Rs 1075, up 50%/26% YoY/QoQ.</li><li>Realization/tonne was higher by 2% each at Rs 5,687 both YoY/QoQ. Cost/tonne stood at Rs 4,614, down 5%/2% YoY/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.

The companies under our coverage reported Volume/Revenue/EBITDA/APAT growth of 8%/10%/57%/106% YoY against expectations of 6%/9%/50%/90%.EBITDA margins improved by 590bps/370bps YoY/QoQ driven by higher realization and lower operating costs. EBITDA/tonne for the quarter stood at Rs 1075, up 50%/26% YoY/QoQ.Realization/tonne was higher by 2% each at Rs 5,687 both YoY/QoQ. Cost/tonne stood at Rs 4,614, down 5%/2% YoY/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.

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>Siemens: Siemens India Ltd (SIL) delivered muted standalone Q1FY24 revenue/EBITDA/APAT of INR 44.4/5.2/4.6bn, missing our estimates by 5.9/5.5/1.8%</li><li>EBITDA margin was 11.8%(-327bps/+6bps YoY/QoQ) vs our estimate of 11.7%</li><li>SIL received new orders worth INR 59.7bn (+9.6/+32.7% YoY/QoQ), which are the highest-ever base business orders the company has won</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.

Siemens: Siemens India Ltd (SIL) delivered muted standalone Q1FY24 revenue/EBITDA/APAT of INR 44.4/5.2/4.6bn, missing our estimates by 5.9/5.5/1.8%EBITDA margin was 11.8%(-327bps/+6bps YoY/QoQ) vs our estimate of 11.7%SIL received new orders worth INR 59.7bn (+9.6/+32.7% YoY/QoQ), which are the highest-ever base business orders the company has wonContent 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.

HSIE Results Daily: Siemens, Eicher Motors, Infoedge, Phoenix Mills

<ul><li>KLC reported a good operating performance during the quarter, positively impacted by higher demand and improved realization.</li><li>Its revenue grew by 7% YoY, marginally below expectations, driven by demand and better realization YoY.</li><li>The company’s EBITDA/APAT grew by 52%/69% owing to lower costs and better realization. </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.

KLC reported a good operating performance during the quarter, positively impacted by higher demand and improved realization.Its revenue grew by 7% YoY, marginally below expectations, driven by demand and better realization YoY.The company’s EBITDA/APAT grew by 52%/69% owing to lower costs and better realization. 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.

JK Lakshmi Cement Limited - Robust Operating Performance

<ul><li>Growth tapers after six consecutive quarters of robust show: We estimate cement demand cooled off to ~7% YoY in Q3FY24, after delivering ~9-16% growth rate (average 12%) in the preceding six quarters</li><li>While demand remained strong in Oct, it slipped off in Nov/Dec—attributable to multiple reasons: elections in four states, flooding in the southern region, sand issues in certain states, and festivals</li><li>Thus, as against general expectations of demand firming up post-monsoon by ~10-15% QoQ, cement sales recovered a modest 4% QoQ, leading to demand tapering.</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.

Growth tapers after six consecutive quarters of robust show: We estimate cement demand cooled off to ~7% YoY in Q3FY24, after delivering ~9-16% growth rate (average 12%) in the preceding six quartersWhile demand remained strong in Oct, it slipped off in Nov/Dec—attributable to multiple reasons: elections in four states, flooding in the southern region, sand issues in certain states, and festivalsThus, as against general expectations of demand firming up post-monsoon by ~10-15% QoQ, cement sales recovered a modest 4% QoQ, leading to demand tapering.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.

Cement (Q3FY24 Results Preview): Industry Margin Surges to a Nine-Quarter High

India

J.K. Lakshmi Cement Ltd. manufactures cement, which it sells under the brand name JK Lakshmi.

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

JK Lakshmi Cement (JKLC IN)

JK Lakshmi Cement - Accelerating the Market Footprint

Motilal Oswal's research report onJK Lakshmi Cement JK Lakshmi Cement (JKLC) is expanding its grinding capacity to ~24mtpa/30mtpa by FY27E/FY30E...

Motilal Oswal

Top Sector Ideas - Cement Q3FY24

The companies under our coverage reported Volume/Revenue/EBITDA/APAT growth of 8%/10%/57%/106% YoY against expectations of 6%/9%/50%/90%.

Axis Direct

HSIE Results Daily: Siemens, Eicher Motors, Infoedge, Phoenix Mills

Siemens: Siemens India Ltd (SIL) delivered muted standalone Q1FY24 revenue/EBITDA/APAT of INR 44.4/5.2/4.6bn, missing our estimates by 5.9/5.5/1.8%

HDFC Securities

JK Lakshmi Cement Limited - Robust Operating Performance

KLC reported a good operating performance during the quarter, positively impacted by higher demand and improved realization.

Axis Direct

Cement (Q3FY24 Results Preview): Industry Margin Surges to a Nine-Quarter High

We estimate cement demand cooled off to ~7% YoY in Q3FY24, after delivering ~9-16% growth rate (average 12%) in the preceding six quarters

HDFC Securities

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)