External broker reports(aggregated public sources), Axis Direct

Axis Direct

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.

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

Aditya Birla Fashion and Retail Ltd / Equity Bottom-Up

Aditya Birla Fashion and Retail Ltd (ABFRL IN)

<ul><li>Aditya Birla Fashion (ABFRL) reported 50% YoY revenue growth (33% revenue growth over pre- Covid levels) in Q2FY23, led by a sharp recovery in demand across categories, aggressive store expansion, and accelerated E-commerce and omnichannel play, footfall recovery, and operating leverage benefits kicking in.</li><li>Overall revenue was up 50% YoY to Rs 3,075 Cr as all business units performed well.</li><li>EBITDA at Rs 397 Cr was up 27% YoY ( although 20% below our estimate of Rs 495 Cr).</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>

Aditya Birla Fashion (ABFRL) reported 50% YoY revenue growth (33% revenue growth over pre- Covid levels) in Q2FY23, led by a sharp recovery in demand across categories, aggressive store expansion, and accelerated E-commerce and omnichannel play, footfall recovery, and operating leverage benefits kicking in.Overall revenue was up 50% YoY to Rs 3,075 Cr as all business units performed well.EBITDA at Rs 397 Cr was up 27% YoY ( although 20% below our estimate of Rs 495 Cr).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.

Aditya Birla Fashion (Abfrl) -Long Term Growth Levers Intact; Maintain BUY