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>The companies under our coverage reported Revenue/EBITDA/PAT growth of 16%/49%/56% YoY against expectations of 17%/41%/50%.</li><li>This was driven by higher ASPs, sales volumes, and operating leverage. On a QoQ basis, the aggregate Revenue/EBITDA/PAT growth stood at 11%/27%/20%, against expectations of 12%/21%/15%.</li><li>The QoQ growth was led by Ashok Leyland, Maruti, and TVS motors by clocking double-digit revenue and EBITDA growth.</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 companies under our coverage reported Revenue/EBITDA/PAT growth of 16%/49%/56% YoY against expectations of 17%/41%/50%.This was driven by higher ASPs, sales volumes, and operating leverage. On a QoQ basis, the aggregate Revenue/EBITDA/PAT growth stood at 11%/27%/20%, against expectations of 12%/21%/15%.The QoQ growth was led by Ashok Leyland, Maruti, and TVS motors by clocking double-digit revenue and EBITDA growth.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 Sector Ideas - Auto and Auto Ancillaries - Q2FY24 Review

<ul><li>We expect Revenue/EBITDA/PAT of Auto OEMs under our coverage to grow at 19%/29%/29% YoY in Q4FY23.</li><li>On a sequential basis, too, we expect Auto OEMs to register a growth of 8%/11%/11%, which would be led by double-digit volume growth in the PV/CV segment (though this will be partially offset by lower 2W sales on account of lower exports).</li><li>EBITDA margins are expected to expand both YoY/QoQ due to a richer product mix, absorption of price hikes, and marginally lower RM 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.

We expect Revenue/EBITDA/PAT of Auto OEMs under our coverage to grow at 19%/29%/29% YoY in Q4FY23.On a sequential basis, too, we expect Auto OEMs to register a growth of 8%/11%/11%, which would be led by double-digit volume growth in the PV/CV segment (though this will be partially offset by lower 2W sales on account of lower exports).EBITDA margins are expected to expand both YoY/QoQ due to a richer product mix, absorption of price hikes, and marginally lower RM 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.

Auto Q4fy23 Preview - Improved Product Mix, Moderation in Rm Costs to Drive Margin Growth

Equity Bottom-Up

<ul><li>Growth in High-margin Exports: In Q1FY26, SSWL’s export revenue stood at Rs 160 Cr, up 30% from Rs 123 Cr in Q1FY25.</li><li>A key contributor to this performance was the alloy wheel export segment, which accounted for Rs 28 Cr, underscoring stronger realisations.</li><li>Export sales remained well-diversified, with 64% of export revenue derived from the US and EU markets, which continue to exhibit relatively stable demand trends. </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.

Growth in High-margin Exports: In Q1FY26, SSWL’s export revenue stood at Rs 160 Cr, up 30% from Rs 123 Cr in Q1FY25.A key contributor to this performance was the alloy wheel export segment, which accounted for Rs 28 Cr, underscoring stronger realisations.Export sales remained well-diversified, with 64% of export revenue derived from the US and EU markets, which continue to exhibit relatively stable demand trends. 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: Steel Strips Wheels Ltd - 06th September, 2025

<ul><li>Growth in High-Margin Exports: In Q1FY26, SSWL's exports revenue stood at Rs 160 Cr, up 30% from Rs 123 Cr in Q1FY25.</li><li>A key contributor to this performance was the alloy wheel export segment, which accounted for Rs 28 Cr, underscoring stronger realisations.</li><li>Export sales remained well-diversified, with 64% of export revenue derived from the US and EU markets, which continue to exhibit relatively stable demand trends. </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.

Growth in High-Margin Exports: In Q1FY26, SSWL's exports revenue stood at Rs 160 Cr, up 30% from Rs 123 Cr in Q1FY25.A key contributor to this performance was the alloy wheel export segment, which accounted for Rs 28 Cr, underscoring stronger realisations.Export sales remained well-diversified, with 64% of export revenue derived from the US and EU markets, which continue to exhibit relatively stable demand trends. 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.

Steel Strip Wheels Ltd  - Aluminium Products & Exports to Drive Growth

<ul><li>Growth in Export Demand: In Q4FY25, SSWL's export revenue stood at Rs 157 Cr, registering a 22% YoY growth.</li><li>The company sold 2.35 Lc alloy wheels in FY25, generating revenue of Rs 102.68 Cr.</li><li>The total export revenue for FY25 stood at Rs 561 Cr, with a target to reach Rs 1,000 Cr by FY27E. </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.

Growth in Export Demand: In Q4FY25, SSWL's export revenue stood at Rs 157 Cr, registering a 22% YoY growth.The company sold 2.35 Lc alloy wheels in FY25, generating revenue of Rs 102.68 Cr.The total export revenue for FY25 stood at Rs 561 Cr, with a target to reach Rs 1,000 Cr by FY27E. 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.

Steel Strip Wheels Ltd - Aluminium Products & Exports to Drive Growth

India

Steel Strips Wheels designs, manufactures, and supplies automotive steel and alloy wheel rims for various vehicle segments, including passenger cars, commercial vehicles, tractors, and two-wheelers. The company is a key supplier to major Original Equipment Manufacturers globally. It was founded in 1985 and is headquartered in Chandigarh, India.

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Steel Strips Wheels (SSW IN)

Top Sector Ideas - Auto and Auto Ancillaries - Q2FY24 Review

The companies under our coverage reported Revenue/EBITDA/PAT growth of 16%/49%/56% YoY against expectations of 17%/41%/50%.

Axis Direct

Auto Q4fy23 Preview - Improved Product Mix, Moderation in Rm Costs to Drive Margin Growth

EBITDA margins are expected to expand both YoY/QoQ due to a richer product mix, absorption of price hikes, and marginally lower RM costs.

Axis Direct

Pick of the Week: Steel Strips Wheels Ltd - 06th September, 2025

Export sales remained well-diversified, with 64% of export revenue derived from the US and EU markets, which continue to exhibit relatively stable...

Axis Direct

Steel Strip Wheels Ltd - Aluminium Products & Exports to Drive Growth

Export sales remained well-diversified, with 64% of export revenue derived from the US and EU markets, which continue to exhibit relatively stable...

Axis Direct

Steel Strip Wheels Ltd - Aluminium Products & Exports to Drive Growth

Growth in Export Demand: In Q4FY25, SSWL's export revenue stood at Rs 157 Cr, registering a 22% YoY growth. The company sold 2.35 Lc alloy wheels...

Axis Direct

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