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>Prevailing demand scenario healthy: At the end of Q3FY23, customer orders stood at ~3.63 Lc vehicles out of which about 1.19 Lc orders were for recently launched models.</li><li>The company said it's seeing healthy bookings for both the newly launched Jimny and Fronx.</li><li>Jimly has received a good customer response so far. Improving ASPs: Higher share of SUVs in the sales mix with demand for the newer models and the bigger car sales could keep the ASPs strong.</li></ul><p><em>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.</em></p>

Prevailing demand scenario healthy: At the end of Q3FY23, customer orders stood at ~3.63 Lc vehicles out of which about 1.19 Lc orders were for recently launched models.The company said it's seeing healthy bookings for both the newly launched Jimny and Fronx.Jimly has received a good customer response so far. Improving ASPs: Higher share of SUVs in the sales mix with demand for the newer models and the bigger car sales could keep the ASPs strong.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.

Maruti Suzuki - Strong Q3 with Beat Across Numbers; Maintain BUY

<ul><li>Maruti Suzuki India Ltd (MSIL) reported an impressive set of numbers with the revenues in line with our estimates while the EBITDA and PAT stood slightly below our estimates.</li><li>Revenues grew by 46%/13% YoY/QoQ, slightly outpacing volume growth (up 36%/11% YoY/QoQ at 5.1 Lc units) driven by higher ASP (up 7%/2% YoY/QoQ) on account of richer product mix (New Alto K10 at a premium over the old model and higher share of the top variants like Brezza).</li><li>The price hike in Q1FY23, which was taken only partially in Q1, got fully absorbed in Q2FY23.</li></ul><p><em>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.</em></p>

Maruti Suzuki India Ltd (MSIL) reported an impressive set of numbers with the revenues in line with our estimates while the EBITDA and PAT stood slightly below our estimates.Revenues grew by 46%/13% YoY/QoQ, slightly outpacing volume growth (up 36%/11% YoY/QoQ at 5.1 Lc units) driven by higher ASP (up 7%/2% YoY/QoQ) on account of richer product mix (New Alto K10 at a premium over the old model and higher share of the top variants like Brezza).The price hike in Q1FY23, which was taken only partially in Q1, got fully absorbed in Q2FY23.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.

Maruti Suzuki - Stellar Q2; Focus on SUVs a Step in the Right Direction!

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.

<div><div><div><div><ul><li>After a gap of almost three years, MSIL’s product pipeline has just kick- started with an exciting line-up of launches over the next 2-2.5 years.</li><li>It has launched upgraded Celerio, and mid-cycle refresh of Baleno as well as XL6.</li><li>Going forward, MSIL would be launching: new models (four SUVs), platform upgrade (Alto) and mid-cycle refresh (Brezza).</li></ul></div></div></div></div><p><em>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.</em></p>

After a gap of almost three years, MSIL’s product pipeline has just kick- started with an exciting line-up of launches over the next 2-2.5 years.It has launched upgraded Celerio, and mid-cycle refresh of Baleno as well as XL6.Going forward, MSIL would be launching: new models (four SUVs), platform upgrade (Alto) and mid-cycle refresh (Brezza).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.

Maruti Suzuki - Return of Product Lifecycle to Drive Market Share

<div><div><div><div><ul><li>Demand Outlook: Demand momentum remains stable with a current order book of 320k units vs 264k units in Dec’21.</li></ul><div><div><div><div><ul><li>Semiconductor Shortages: The production during FY22 was constrained by a global shortage in the supply of electronic components because of which an estimated ~2.7 Lc units could not be produced.</li></ul><div><div><div><div><ul><li>Input costs: The management noted that while precious metal prices have cooled off, base metal prices have increased (steel in particular) and will lead to margin pressures in H1FY23E.</li></ul></div></div></div></div></div></div></div></div></div></div></div></div><p><em>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.</em></p>

Demand Outlook: Demand momentum remains stable with a current order book of 320k units vs 264k units in Dec’21.Semiconductor Shortages: The production during FY22 was constrained by a global shortage in the supply of electronic components because of which an estimated ~2.7 Lc units could not be produced.Input costs: The management noted that while precious metal prices have cooled off, base metal prices have increased (steel in particular) and will lead to margin pressures in H1FY23E.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.

Maruti Suzuki - Beat on EBITDA; Growth Outlook Remains Strong

<ul>
<li>Commodities and IT sectors are the biggest winners of FY22. In the last one year, the Metals sector has gone up 53%, Energy by 40%, commodities by 30%, and the IT index by 40%</li>
<li>However, the consumer-facing sectors closed FY22 on a muted note with FMCG reporting growth of only 4% and the Auto sector of 5%</li>
<li>The current market performance is factoring in the current rising inflation and the rising interest rate regime</li>
</ul>
<p><em>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.</em></p>


Commodities and IT sectors are the biggest winners of FY22. In the last one year, the Metals sector has gone up 53%, Energy by 40%, commodities by 30%, and the IT index by 40%
However, the consumer-facing sectors closed FY22 on a muted note with FMCG reporting growth of only 4% and the Auto sector of 5%
The current market performance is factoring in the current rising inflation and the rising interest rate regime

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

Maruti Suzuki India Limited manufactures and exports automobiles. Maruti collaborated with Suzuki of Japan to produce affordable cars for the average Indian.

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

Maruti Suzuki India (MSIL IN)

Maruti Suzuki - Strong Q3 with Beat Across Numbers; Maintain BUY

Prevailing demand scenario healthy: At the end of Q3FY23, customer orders stood at ~3.63 Lc vehicles out of which about 1.19 Lc orders were for...

Axis Direct

Maruti Suzuki - Stellar Q2; Focus on SUVs a Step in the Right Direction!

Maruti Suzuki India Ltd (MSIL) reported an impressive set of numbers with the revenues in line with our estimates while the EBITDA and PAT stood...

Axis Direct

Maruti Suzuki - Beat on EBITDA; Growth Outlook Remains Strong

Maruti Suzuki India Ltd (MSIL) Q4FY22 performance came in ahead of our expectations on the margin front, aided by operating leverage benefits,...

Axis Direct

Axis Top Picks April 2022

Commodities and IT sectors are the biggest winners of FY22. In the last one year, the Metals sector has gone up 53%, Energy by 40%, commodities by...

Axis Direct

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Maruti Suzuki - Strong Q3 with Beat Across Numbers; Maintain BUY

Prevailing demand scenario healthy: At the end of Q3FY23, customer orders stood at ~3.63 Lc vehicles out of which about 1.19 Lc orders were for...

Axis Direct

Maruti Suzuki - Stellar Q2; Focus on SUVs a Step in the Right Direction!

Maruti Suzuki India Ltd (MSIL) reported an impressive set of numbers with the revenues in line with our estimates while the EBITDA and PAT stood...

Axis Direct

Maruti Suzuki - Return of Product Lifecycle to Drive Market Share

Maruti Suzuki (MSIL)’s product pipeline has just kick-started with upgrades of key models and it is on the cusp of launching new models.

Motilal Oswal

Maruti Suzuki - Beat on EBITDA; Growth Outlook Remains Strong

Maruti Suzuki India Ltd (MSIL) Q4FY22 performance came in ahead of our expectations on the margin front, aided by operating leverage benefits,...

Axis Direct

Axis Top Picks April 2022

Commodities and IT sectors are the biggest winners of FY22. In the last one year, the Metals sector has gone up 53%, Energy by 40%, commodities by...

Axis Direct