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 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>
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<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>


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.

<ul><li>The company’s capacityexpansion plan is progressing well and the said capacities would be operational in phases over FY24-FY25, which will drive its volume growth moving ahead.</li><li>We estimate the company to post volume growth CAGR of 10% over FY22-FY25E.</li><li>Furthermore, the company aims to take its total capacity to 80 mtpa by 2030 largely by organic expansion.</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>

The company’s capacityexpansion plan is progressing well and the said capacities would be operational in phases over FY24-FY25, which will drive its volume growth moving ahead.We estimate the company to post volume growth CAGR of 10% over FY22-FY25E.Furthermore, the company aims to take its total capacity to 80 mtpa by 2030 largely by organic expansion.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 - Encouraging Volume Growth; Maintain BUY!

<div><div><div><div><ul><li>Setting up of an Integrated Cement Plant at Gothra, Nawalgarh (Rajasthan) having a clinker capacity of 3.8 mtpa and cement capacity of 3.5 mtpa.</li><li>Capex of Rs~3,500 Cr is earmarked for this project and the financing will be done through internal accruals and debt. The plant is likely to get operational by Q4FY24.</li><li>Setting up a Clinker Grinding Unit of 3 mtpa Village Digha &amp;Parbatpurin, Purulia(West Bengal) through the company’s wholly-owned subsidiary SCEPL.</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>

Setting up of an Integrated Cement Plant at Gothra, Nawalgarh (Rajasthan) having a clinker capacity of 3.8 mtpa and cement capacity of 3.5 mtpa.Capex of Rs~3,500 Cr is earmarked for this project and the financing will be done through internal accruals and debt. The plant is likely to get operational by Q4FY24.Setting up a Clinker Grinding Unit of 3 mtpa Village Digha &amp;Parbatpurin, Purulia(West Bengal) through the company’s wholly-owned subsidiary SCEPL.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 Ltd - Key Takeaways from Shree Cement Limited Management Meet

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><ul><li>SRCM, as expected, reported a weak 2QFY23, led by higher variable costs and weak realization.</li><li><p>EBITDA fell 42% YoY to INR5.2b (est. INR5.4b) and EBITDA/t came in at a 28-quarter low at INR701 (est. INR770), down 51% YoY and 36% QoQ). Profit fell 67% YoY to INR1.9b (est. INR2.1b).</p></li><li><p><span style="font-size: var(--content-font-size);">We have kept our earnings estimates largely intact. Valuations, at 17.7x FY24E EV/EBITDA, appears rich considering the narrowing of cost benefits v/s its peers</span></p></li></ul></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>

SRCM, as expected, reported a weak 2QFY23, led by higher variable costs and weak realization.EBITDA fell 42% YoY to INR5.2b (est. INR5.4b) and EBITDA/t came in at a 28-quarter low at INR701 (est. INR770), down 51% YoY and 36% QoQ). Profit fell 67% YoY to INR1.9b (est. INR2.1b).We have kept our earnings estimates largely intact. Valuations, at 17.7x FY24E EV/EBITDA, appears rich considering the narrowing of cost benefits v/s its peersContent 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 - Cost Pressures and Weak Realization Hurt

<div><ul><li>SCL reported revenue growth of 18%YoYinQ2FY23, which stood above our expectations.</li><li>The growth was led by higher volumes posted by the company during the quarter.</li><li>Its EBITDA/APAT during the quarter was lower by 42%/67% YoY (below expectation)owing to the elevated costsand higher depreciation YoY.</li></ul></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>

SCL reported revenue growth of 18%YoYinQ2FY23, which stood above our expectations.The growth was led by higher volumes posted by the company during the quarter.Its EBITDA/APAT during the quarter was lower by 42%/67% YoY (below expectation)owing to the elevated costsand higher depreciation YoY.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 Ltd - Margin Hit Continues; Recovery Expected in H2FY23

India

Shree Cement is an Indian cement manufacturer and one of the largest producers in the country. The company manufactures and sells various cement products, including Ordinary Portland Cement (OPC), Portland Pozzolana Cement (PPC), Portland Slag Cement (PSC), and ready-mix concrete. It also operates in power generation. Shree Cement was founded in 1979 and is headquartered in Kolkata, India.

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Shree Cement (SRCM IN)

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

Shree Cement Limited - Encouraging Volume Growth; Maintain BUY!

The company’s capacityexpansion plan is progressing well and the said capacities would be operational in phases over FY24-FY25, which will drive...

Axis Direct

Shree Cement Ltd - Key Takeaways from Shree Cement Limited Management Meet

Setting up of an Integrated Cement Plant at Gothra, Nawalgarh (Rajasthan) having a clinker capacity of 3.8 mtpa and cement capacity of 3.5 mtpa.

Axis Direct

Shree Cement - Cost Pressures and Weak Realization Hurt

We have kept our earnings estimates largely intact. Valuations, at 17.7x FY24E EV/EBITDA, appears rich considering the narrowing of cost benefits v...

Motilal Oswal

Shree Cement Ltd - Margin Hit Continues; Recovery Expected in H2FY23

SCL reported revenue growth of 18%YoYinQ2FY23, which stood above our expectations. The growth was led by higher volumes posted by the company...

Axis Direct

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