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>SCL reported robust set of numbers with Volume/Revenue/EBITDA/APAT growth of 11%/20%/74%/165%YoY(above expectations), driven by better demand in its operating regions, and higher realization led by higher merchant power sales.</li><li>The company reported a profit of Rs 734 Cr against Rs 277 Cr in Q3FY23. The company recorded an EBITDA margin of 25.2% (expectation of 21.3%)against 17.4% YoY,led by higher realization, lower power/fuel and freight costs.</li><li>The quarter’s volume stood at 8.89Mn tonnes per annum (mntpa), up 11% YoY.SCL’s EBITDA/tonne stood at Rs 1,388, up 57%/31% 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.

SCL reported robust set of numbers with Volume/Revenue/EBITDA/APAT growth of 11%/20%/74%/165%YoY(above expectations), driven by better demand in its operating regions, and higher realization led by higher merchant power sales.The company reported a profit of Rs 734 Cr against Rs 277 Cr in Q3FY23. The company recorded an EBITDA margin of 25.2% (expectation of 21.3%)against 17.4% YoY,led by higher realization, lower power/fuel and freight costs.The quarter’s volume stood at 8.89Mn tonnes per annum (mntpa), up 11% YoY.SCL’s EBITDA/tonne stood at Rs 1,388, up 57%/31% 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.

Shree Cement Limited - Strong Operating Performance

<ul>
<li>SCL reported Volume/Revenue/EBITDA/APAT growth of 10%/21%/66%/159%YoY(above expectations), driven by better demand in its operating regions, and higher realization led by higher merchant power sales.</li>
<li>The company reported a profit of Rs 491 Cr against Rs 190 Cr in Q2FY24.</li>
<li>The company recorded an EBITDA margin of 19% (expectation of 18.7%)against 13.9% YoY, led by higher realization and lower freight costs. </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.


SCL reported Volume/Revenue/EBITDA/APAT growth of 10%/21%/66%/159%YoY(above expectations), driven by better demand in its operating regions, and higher realization led by higher merchant power sales.
The company reported a profit of Rs 491 Cr against Rs 190 Cr in Q2FY24.
The company recorded an EBITDA margin of 19% (expectation of 18.7%)against 13.9% YoY, led by higher realization and lower freight costs. 

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.

Shree Cement Limited - Inline Operating Performance; Valuation Rich

<ul>
<li>SCL reported Volume/Revenue growth of 10%/17% YoY (above expectations) driven by better demand in its operating regions.</li>
<li>However, EBITDA/PAT declined by 2%/15% YoY owing to higher cost and depreciation charges. The company reported a profit of Rs 546 Cr against Rs 645 Cr in Q4FY22.</li>
<li>On a QoQ basis, PAT increased by 97% owing to higher sales and tax adjustments.</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.


SCL reported Volume/Revenue growth of 10%/17% YoY (above expectations) driven by better demand in its operating regions.
However, EBITDA/PAT declined by 2%/15% YoY owing to higher cost and depreciation charges. The company reported a profit of Rs 546 Cr against Rs 645 Cr in Q4FY22.
On a QoQ basis, PAT increased by 97% owing to higher sales and tax adjustments.


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.

Shree Cement Limited - New Capacity & Initiatives To Drive Growth.

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.

Thematic (Sector/Industry)

<ul><li>Demand firmed up but at the expense of pricing: In our view, cement demand again firmed up in Q4FY24 on a strong pick-up in non-trades sales</li><li>We estimate aggregate volumes will grow 10% YoY in Q4FY24 (as against 8% YoY in Q3)</li><li>However, owing to aggressive volume push in non-trade segments (channel check suggests major players pushed volumes hard in Q4), cement pricing took a beating during the peak demand quarter</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.

Demand firmed up but at the expense of pricing: In our view, cement demand again firmed up in Q4FY24 on a strong pick-up in non-trades salesWe estimate aggregate volumes will grow 10% YoY in Q4FY24 (as against 8% YoY in Q3)However, owing to aggressive volume push in non-trade segments (channel check suggests major players pushed volumes hard in Q4), cement pricing took a beating during the peak demand quarterContent 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 (Q4FY24 Results Preview): Weak pricing dampens industry margin

<ul><li>Pick of the Week (PoW): POW calls delivered an astounding monthly strike rate of 92% in Feb’24.</li><li>Calls that successfully achieved their target were Coal India (10%) and ACC (10%) Axis Top Picks: We are proud to share that our Axis Top Picks basket delivered impressive returns of 46% in the last one year, beating the benchmark Nifty 50 index (27% return over the same period) by a wide margin.</li><li>In Feb’24, the basket inched up further by 1.8%. A few picks that reported excellent returns included SBI (15.5%), Varun Beverage (9.7%), Coal India (7.4%), TVS Motor (7.2%), and Lupin (7.1%). </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.

Pick of the Week (PoW): POW calls delivered an astounding monthly strike rate of 92% in Feb’24.Calls that successfully achieved their target were Coal India (10%) and ACC (10%) Axis Top Picks: We are proud to share that our Axis Top Picks basket delivered impressive returns of 46% in the last one year, beating the benchmark Nifty 50 index (27% return over the same period) by a wide margin.In Feb’24, the basket inched up further by 1.8%. A few picks that reported excellent returns included SBI (15.5%), Varun Beverage (9.7%), Coal India (7.4%), TVS Motor (7.2%), and Lupin (7.1%). 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 Research Scorecard Report for Feb 2024

India

Shree Cement Ltd. manufactures cement and cement products. The Company sells its products primarily in Northern India under its own brand names.

Shree Cement (SRCM IN)

Shree Cement Limited - Strong Operating Performance

The quarter’s volume stood at 8.89Mn tonnes per annum (mntpa), up 11% YoY.SCL’s EBITDA/tonne stood at Rs 1,388, up 57%/31% YoY/QoQ.

Axis Direct

Shree Cement Limited - Inline Operating Performance; Valuation Rich

The company recorded an EBITDA margin of 19% (expectation of 18.7%)against 13.9% YoY, led by higher realization and lower freight costs.

Axis Direct

Shree Cement Limited - New Capacity & Initiatives To Drive Growth.

SCL reported Volume/Revenue growth of 10%/17% YoY (above expectations) driven by better demand in its operating regions.

Axis Direct

Cement (Q4FY24 Results Preview): Weak pricing dampens industry margin

Demand firmed up but at the expense of pricing: In our view, cement demand again firmed up in Q4FY24 on a strong pick-up in non-trades sales

HDFC Securities

Axis Research Scorecard Report for Feb 2024

In Feb’24, the basket inched up further by 1.8%. A few picks that reported excellent returns included SBI (15.5%), Varun Beverage (9.7%), Coal...

Axis Direct