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. 

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Equity Bottom-Up

<ul><li>RITES- a Miniratna (Schedule A) CPSE under the Ministry of Railways, is an engineering consultancy company.</li><li>It is a leading multi-disciplinary engineering and consultancy organization specialized in the field of transport infrastructure providing diversified and comprehensive services from concept to commissioning.</li><li>The company is a preferred consultancy organization for Government of India (GoI) including Indian Railways.</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.

RITES- a Miniratna (Schedule A) CPSE under the Ministry of Railways, is an engineering consultancy company.It is a leading multi-disciplinary engineering and consultancy organization specialized in the field of transport infrastructure providing diversified and comprehensive services from concept to commissioning.The company is a preferred consultancy organization for Government of India (GoI) including Indian Railways.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.

<ul><li>RITES Ltd.(RITES)reported a decentset of Q2FY23 numbers with revenue of Rs659 Cr (down13% YoY), supported by revenue growth in all segments except exports, EBIDTA of Rs181Cr (down16% YoY, above estimate), and APAT of Rs140Cr (down20%YoY, above estimate).</li><li>The company registered EBITDA Margins of 27.5%in Q2FY23(our estimate: 25.5%) as against 29.6% in Q2FY22.</li><li>There has been anincreasein other income due to increase in exchange variations earnings &amp; dividend from REMC.</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.

RITES Ltd.(RITES)reported a decentset of Q2FY23 numbers with revenue of Rs659 Cr (down13% YoY), supported by revenue growth in all segments except exports, EBIDTA of Rs181Cr (down16% YoY, above estimate), and APAT of Rs140Cr (down20%YoY, above estimate).The company registered EBITDA Margins of 27.5%in Q2FY23(our estimate: 25.5%) as against 29.6% in Q2FY22.There has been anincreasein other income due to increase in exchange variations earnings &amp; dividend from REMC.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.

RITES Ltd. - Result In Line Estimates, Robust Execution On All Fronts; Upgrade to BUY

<ul><li>RITES Ltd (RITES) performance reached its pre-Covid levels in FY22, recording consolidated revenue of Rs 2,662 Cr and achieving its highest-ever export revenue, including services. The company also reported its highest-ever PAT of Rs 516 Cr, up 19% YoY.</li><li>The company garnered significant client confidence, enabling it to close the year with a robust order book of Rs 4,939 Cr and revenue visibility for the next 2-3 years.</li><li>Backed by the robust performance of the company, the Board of Directors has recommended a final dividend of Rs 3.5/share in addition to three interim dividends.</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.

RITES Ltd (RITES) performance reached its pre-Covid levels in FY22, recording consolidated revenue of Rs 2,662 Cr and achieving its highest-ever export revenue, including services. The company also reported its highest-ever PAT of Rs 516 Cr, up 19% YoY.The company garnered significant client confidence, enabling it to close the year with a robust order book of Rs 4,939 Cr and revenue visibility for the next 2-3 years.Backed by the robust performance of the company, the Board of Directors has recommended a final dividend of Rs 3.5/share in addition to three interim dividends.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.

Rites Ltd - Robust Order Book, Superior Execution to Drive Growth.

<ul><li>RITES Ltd. (RITES) reported a good set of Q4FY22 numbers with revenues of Rs 766 Cr (up 20% YoY), supported by the higher export sales, EBIDTA of Rs 204 Cr (up 10% YoY), and APAT of Rs 141 Cr (down 1% YoY).</li><li>The company registered EBITDA Margins of 26.7% in Q4FY22 (our estimate: 26.8%) as against 29.2% in Q4FY21</li><li>We roll over our estimate to FY24 and retain a BUY rating on the stock, valuing the company at 11.5x FY24E EPS to arrive at a target price of Rs 275/share (Rs 305/share earlier), implying an upside of 10% from the CMP.</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.

RITES Ltd. (RITES) reported a good set of Q4FY22 numbers with revenues of Rs 766 Cr (up 20% YoY), supported by the higher export sales, EBIDTA of Rs 204 Cr (up 10% YoY), and APAT of Rs 141 Cr (down 1% YoY).The company registered EBITDA Margins of 26.7% in Q4FY22 (our estimate: 26.8%) as against 29.2% in Q4FY21We roll over our estimate to FY24 and retain a BUY rating on the stock, valuing the company at 11.5x FY24E EPS to arrive at a target price of Rs 275/share (Rs 305/share earlier), implying an upside of 10% from the CMP.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.

Rites: Robust Order Book & Execution Prowess to Regain Momentum; Retain BUY

We expect the company to deliver Revenues/EBITDA/APAT growth of 26%/23%/21% CAGR respectively over FY21-23E.RITES Ltd (RITES) maintained an EBITDA margin at 27% despite headwinds caused by Covid19 induced lockdowns in FY21.<div class="content-highlight">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.</div>

We expect the company to deliver Revenues/EBITDA/APAT growth of 26%/23%/21% CAGR respectively over FY21-23E.RITES Ltd (RITES) maintained an EBITDA margin at 27% despite headwinds caused by Covid19 induced lockdowns in FY21.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.

RITES: Robust Order Book To Drive Future Growth

India

RITES Limited is an Indian public sector undertaking that operates under the Ministry of Railways, Government of India. The company offers consultancy, engineering, and project delivery services across various infrastructure sectors, including railways, highways, metros, urban development, and airports. RITES also provides services like leasing and export of railway rolling stock and turnkey construction projects. Headquartered in Gurugram, Haryana, India, RITES was incorporated on April 26, 1974.

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RITES (RITE IN)

Pick of the Week - RITES Ltd

RITES- a Miniratna (Schedule A) CPSE under the Ministry of Railways, is an engineering consultancy company. It is a leading multi-disciplinary...

Axis Direct

RITES Ltd. - Result In Line Estimates, Robust Execution On All Fronts; Upgrade to BUY

RITES Ltd.(RITES)reported a decentset of Q2FY23 numbers with revenue of Rs659 Cr (down13% YoY), supported by revenue growth in all segments except...

Axis Direct

Rites Ltd - Robust Order Book, Superior Execution to Drive Growth.

The company garnered significant client confidence, enabling it to close the year with a robust order book of Rs 4,939 Cr and revenue visibility...

Axis Direct

Rites: Robust Order Book & Execution Prowess to Regain Momentum; Retain BUY

We roll over our estimate to FY24 and retain a BUY rating on the stock, valuing the company at 11.5x FY24E EPS to arrive at a target price of Rs...

Axis Direct

RITES: Robust Order Book To Drive Future Growth

We expect the company to deliver Revenues/EBITDA/APAT growth of 26%/23%/21% CAGR respectively over FY21-23E. RITES Ltd (RITES) maintained an EBITDA...

Axis Direct

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