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>Quarter Impacted by Tariff-Related Disruptions: As highlighted earlier, the 50% tariff on Indian exports to the US continued to weigh on performance during the quarter.</li><li>The company expects these tariff-related headwinds to persist in the near term but remains optimistic about regaining growth momentum once the trade environment normalizes. </li><li>Focus on Retaining Customers: Management indicated that it continues to collaborate with US customers to share the tariff burden. </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.

Quarter Impacted by Tariff-Related Disruptions: As highlighted earlier, the 50% tariff on Indian exports to the US continued to weigh on performance during the quarter.The company expects these tariff-related headwinds to persist in the near term but remains optimistic about regaining growth momentum once the trade environment normalizes. Focus on Retaining Customers: Management indicated that it continues to collaborate with US customers to share the tariff burden. 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.

Welspun Living Ltd - Maintaining Market Share Amidst Sectoral Headwinds; Retain BUY Rating

<ul><li>Tariff Related Uncertainties: The company reported an 11% YoY decline in revenue to Rs 2,261 Cr in Q1FY26, with a decline in the Home Textile segment as well as the Flooring business.</li><li>The subdued performance was primarily attributed to global trade uncertainties and ongoing tariff-related pressures.</li><li>However, domestic operations remained resilient, with the Welspun brand continuing to gain traction in the retail market. </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.

Tariff Related Uncertainties: The company reported an 11% YoY decline in revenue to Rs 2,261 Cr in Q1FY26, with a decline in the Home Textile segment as well as the Flooring business.The subdued performance was primarily attributed to global trade uncertainties and ongoing tariff-related pressures.However, domestic operations remained resilient, with the Welspun brand continuing to gain traction in the retail market. 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.

Welspun Living Ltd - Near-Term Headwinds Create a Long-Term Opportunity

<ul><li>Logistical issues continue to hit margins: During the quarter, a shortage of containers not only led to increased container rates but also resulted in inventory buildup and elevated warehousing and transportation costs.</li><li>Management mentioned that freight costs increased by as much as twice those of last year.</li><li>Despite these issues and uncertain global macroeconomic conditions, the company continued deliveries to the US with limited disruption and impact on revenues. </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.

Logistical issues continue to hit margins: During the quarter, a shortage of containers not only led to increased container rates but also resulted in inventory buildup and elevated warehousing and transportation costs.Management mentioned that freight costs increased by as much as twice those of last year.Despite these issues and uncertain global macroeconomic conditions, the company continued deliveries to the US with limited disruption and impact on revenues. 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.

Welspun Living Ltd - Resilient Performance Amidst External Headwinds; Maintain BUY!

Thematic (Sector/Industry)

<ul><li>Chemicals &amp; Agrochemicals: In Q2FY25, most specialty chemical companies under coverage are expected to show marginally improved performance, although demand recovery remains subdued and weak pricing persists.</li><li>Volume growth is anticipated compared to the previous quarter, which was affected by several headwinds, including weak demand (with exceptions in a few segments), logistical challenges at ports, and adverse weather conditions.</li><li>Growth prospects remain uncertain as a clear upward trend has yet to emerge.</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.

Chemicals &amp; Agrochemicals: In Q2FY25, most specialty chemical companies under coverage are expected to show marginally improved performance, although demand recovery remains subdued and weak pricing persists.Volume growth is anticipated compared to the previous quarter, which was affected by several headwinds, including weak demand (with exceptions in a few segments), logistical challenges at ports, and adverse weather conditions.Growth prospects remain uncertain as a clear upward trend has yet to emerge.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.

Q2FY25 Earnings Preview - Chemicals, Capital Goods and Midcaps

<ul><li>The company reported one of its strongest quarters beating our estimate on the revenue front.</li><li>It reported revenue of 2,575 Cr, up 20% YoY beating our estimate of 2,465 Cr on account of growth in an emerging business along with growth in global branded business.</li><li>The EBITDA came in at 359 Cr, up 29% YoY, in line with our estimate of 350 Cr. This led to an overall PAT of 131 Cr, up 1.2% YoY but missed our estimate of 196 Cr by 33%.</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 company reported one of its strongest quarters beating our estimate on the revenue front.It reported revenue of 2,575 Cr, up 20% YoY beating our estimate of 2,465 Cr on account of growth in an emerging business along with growth in global branded business.The EBITDA came in at 359 Cr, up 29% YoY, in line with our estimate of 350 Cr. This led to an overall PAT of 131 Cr, up 1.2% YoY but missed our estimate of 196 Cr by 33%.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.

Welspun Living Ltd - Strong Quarter; Exports Beat Our Expectations

India

Welspun Living Limited is a home textile manufacturer with a global distribution network. The Company engages in home textiles, flooring solutions, advanced textiles, DI pipes, pig iron, TMT bars, stainless steel, alloy, line pipes, infrastructure, and warehousing. Welspun Living serves customers worldwide.

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Welspun Living (WELSPUNL IN)

Welspun Living Ltd - Near-Term Headwinds Create a Long-Term Opportunity

Tariff Related Uncertainties: The company reported an 11% YoY decline in revenue to Rs 2,261 Cr in Q1FY26, with a decline in the Home Textile...

Axis Direct

Welspun Living Ltd - Resilient Performance Amidst External Headwinds; Maintain BUY!

Going forward, management expects the situation to settle down to some extent, as the company has observed some improvements in October, and has...

Axis Direct

Q2FY25 Earnings Preview - Chemicals, Capital Goods and Midcaps

In Q2FY25, most specialty chemical companies under coverage are expected to show marginally improved performance, although demand recovery remains...

Axis Direct

Welspun Living Ltd - Strong Quarter; Exports Beat Our Expectations

The EBITDA came in at 359 Cr, up 29% YoY, in line with our estimate of 350 Cr. This led to an overall PAT of 131 Cr, up 1.2% YoY but missed our...

Axis Direct

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Welspun Living Ltd - Maintaining Market Share Amidst Sectoral Headwinds; Retain BUY Rating

Quarter Impacted by Tariff-Related Disruptions: As highlighted earlier, the 50% tariff on Indian exports to the US continued to weigh on...

Axis Direct

Welspun Living Ltd - Near-Term Headwinds Create a Long-Term Opportunity

Tariff Related Uncertainties: The company reported an 11% YoY decline in revenue to Rs 2,261 Cr in Q1FY26, with a decline in the Home Textile...

Axis Direct

Welspun Living Ltd - Resilient Performance Amidst External Headwinds; Maintain BUY!

Going forward, management expects the situation to settle down to some extent, as the company has observed some improvements in October, and has...

Axis Direct

Q2FY25 Earnings Preview - Chemicals, Capital Goods and Midcaps

In Q2FY25, most specialty chemical companies under coverage are expected to show marginally improved performance, although demand recovery remains...

Axis Direct

Welspun Living Ltd - Strong Quarter; Exports Beat Our Expectations

The EBITDA came in at 359 Cr, up 29% YoY, in line with our estimate of 350 Cr. This led to an overall PAT of 131 Cr, up 1.2% YoY but missed our...

Axis Direct