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>In Q4FY25E, the road construction companies under coverage are anticipated to report a 2% YoY decline in revenue due to a lower executable order book at KNR Constructions Ltd and PNC Infratech Ltd.</li><li>Adjusted EBITDA is expected to decrease by 2%, and Adjusted PAT is projected to be 4% lower on a YoY basis.</li><li>Adjusted EBITDA margins are estimated at 14.4%, compared to 13.6% in the same period last year. </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 Q4FY25E, the road construction companies under coverage are anticipated to report a 2% YoY decline in revenue due to a lower executable order book at KNR Constructions Ltd and PNC Infratech Ltd.Adjusted EBITDA is expected to decrease by 2%, and Adjusted PAT is projected to be 4% lower on a YoY basis.Adjusted EBITDA margins are estimated at 14.4%, compared to 13.6% in the same period last year. 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.

Q4FY25 Earnings Preview - Infra-Road and Others

<ul><li>President Donald Trump and the White House revealed a list of U.S. “reciprocal tariff” rates that more than 180 countries and territories are set to face.</li><li>A 10% baseline tax will be applied to all imports, while countries with significant trade surplus with the US will face higher tariffs.</li><li>Higher tariffs have been announced for certain countries. These stand as follows: India 26%, China 34%, EU 20%, South Korea 25%, Vietnam 46%, Taiwan 32%, and Japan 24%. </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.

President Donald Trump and the White House revealed a list of U.S. “reciprocal tariff” rates that more than 180 countries and territories are set to face.A 10% baseline tax will be applied to all imports, while countries with significant trade surplus with the US will face higher tariffs.Higher tariffs have been announced for certain countries. These stand as follows: India 26%, China 34%, EU 20%, South Korea 25%, Vietnam 46%, Taiwan 32%, and Japan 24%. 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.

Trump Tariffs - Possible Impact on Our Market

<ul><li>The Axis Top Picks Basket delivered an excellent return of 8.9% in Mar’25 against the 6.3% return posted by the Nifty 50, thereby beating the benchmark by a wide margin of 2.6%.</li><li>Over the last one year, the basket has gained 9.5%. Moreover, it gives us immense joy to share with you that our Top Picks Basket has delivered an impressive return of 298% since its inception (May’20), which stands well above the 154% return delivered by the NIFTY 50 index over the same period.</li><li>In light of this, we continue to believe in our thematic approach to Top Picks selection.</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 Axis Top Picks Basket delivered an excellent return of 8.9% in Mar’25 against the 6.3% return posted by the Nifty 50, thereby beating the benchmark by a wide margin of 2.6%.Over the last one year, the basket has gained 9.5%. Moreover, it gives us immense joy to share with you that our Top Picks Basket has delivered an impressive return of 298% since its inception (May’20), which stands well above the 154% return delivered by the NIFTY 50 index over the same period.In light of this, we continue to believe in our thematic approach to Top Picks selection.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 Top Picks for the month of April 2025

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

<ul>
<li>India’s electricity demand is witnessing a structural boom driven by rising temperatures, AC sales, urbanization, and smart tariff reforms, not just seasonal summer spikes.</li>
<li>Cooling demand alone could drive one-third of peak load by 2030, stressing grids, accelerating coal use, and challenging India’s clean energy transition.</li>
<li>The power story is no longer about generation alone, transmission, storage, smart meters, and efficient cooling are the real investment and policy frontiers to watch.</li>
</ul>


India’s electricity demand is witnessing a structural boom driven by rising temperatures, AC sales, urbanization, and smart tariff reforms, not just seasonal summer spikes.
Cooling demand alone could drive one-third of peak load by 2030, stressing grids, accelerating coal use, and challenging India’s clean energy transition.
The power story is no longer about generation alone, transmission, storage, smart meters, and efficient cooling are the real investment and policy frontiers to watch.


India’s Power Surge: What Is Fueling the Demand Boom in 2025?

<ul><li>Financial Performance: During the quarter, road infrastructure companies under our coverage posted Revenue/EBITDA/PAT growth of - 9%/-5%/-2% YoY, compared to our expectation of -3%/-4%/-11% YoY.</li><li>The deviation in performance was primarily due to sluggish execution and delays in receiving AD. Profit deviation was attributed to KNR Constructions receiving an arbitration claim. </li><li>EBITDA Margins: In Q3FY25, road infrastructure companies reported EBITDA Margins of 15.3% against our estimate of 14.2%.</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.

Financial Performance: During the quarter, road infrastructure companies under our coverage posted Revenue/EBITDA/PAT growth of - 9%/-5%/-2% YoY, compared to our expectation of -3%/-4%/-11% YoY.The deviation in performance was primarily due to sluggish execution and delays in receiving AD. Profit deviation was attributed to KNR Constructions receiving an arbitration claim. EBITDA Margins: In Q3FY25, road infrastructure companies reported EBITDA Margins of 15.3% against our estimate of 14.2%.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.

Top Conviction Ideas - “Infra-Road & Others”

India

Kalpataru Projects International Limited (KPIL) is a global Engineering, Procurement, and Construction (EPC) company. It specializes in diversified infrastructure projects, including power transmission and distribution, buildings and factories, water supply and irrigation, railways, oil and gas pipelines, and urban infrastructure. KPIL was established in 1981 and is headquartered in Mumbai, India.

Kalpataru Projects International (KPIL IN)

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

Kalpataru Projects International (KPIL IN)

Q4FY25 Earnings Preview - Infra-Road and Others

In Q4FY25E, the road construction companies under coverage are anticipated to report a 2% YoY decline in revenue due to a lower executable order...

Axis Direct

Trump Tariffs - Possible Impact on Our Market

President Donald Trump and the White House revealed a list of U.S. “reciprocal tariff” rates that more than 180 countries and territories are set...

Axis Direct

Axis Top Picks for the month of April 2025

The Axis Top Picks Basket delivered an excellent return of 8.9% in Mar’25 against the 6.3% return posted by the Nifty 50, thereby beating the...

Axis Direct

India’s Power Surge: What Is Fueling the Demand Boom in 2025?

India's electricity demand is rising due to various factors, including cooling needs, urbanization, and smart tariff reforms, posing challenges...

Nimish Maheshwari

Top Conviction Ideas - “Infra-Road & Others”

During the quarter, road infrastructure companies under our coverage posted Revenue/EBITDA/PAT growth of - 9%/-5%/-2% YoY, compared to our...

Axis Direct

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Q4FY25 Earnings Preview - Infra-Road and Others

In Q4FY25E, the road construction companies under coverage are anticipated to report a 2% YoY decline in revenue due to a lower executable order...

Axis Direct

Trump Tariffs - Possible Impact on Our Market

President Donald Trump and the White House revealed a list of U.S. “reciprocal tariff” rates that more than 180 countries and territories are set...

Axis Direct

Axis Top Picks for the month of April 2025

The Axis Top Picks Basket delivered an excellent return of 8.9% in Mar’25 against the 6.3% return posted by the Nifty 50, thereby beating the...

Axis Direct

India’s Power Surge: What Is Fueling the Demand Boom in 2025?

​India's electricity demand is rising due to various factors, including cooling needs, urbanization, and smart tariff reforms, posing challenges...

Nimish Maheshwari

Top Conviction Ideas - “Infra-Road & Others”

During the quarter, road infrastructure companies under our coverage posted Revenue/EBITDA/PAT growth of - 9%/-5%/-2% YoY, compared to our...

Axis Direct

India's electricity demand is rising due to various factors, including cooling needs, urbanization, and smart tariff reforms, posing challenges...