External broker reports(aggregated public sources), Topline Securities

Topline Securities

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External broker reports(aggregated public sources)

Equity Bottom-Up

Air Link Communication / Equity Bottom-Up

<ul><li>We have revised our earnings estimates for Airlink Communication (AIRLINK) downward by 41% for FY25 and 36% for FY26 to Rs8.7/share and Rs13.7/share, respectively, due to a decline in mobile sales and higher borrowings.</li><li>Decline in mobile sales attributed to high base effect from last year, extended mobile replacement cycle, and reduced consumer spending amid high inflation.</li><li>AIRLINK's working capital under pressure due to weaker sales, leading to extended credit periods and increased borrowings.</li></ul>

We have revised our earnings estimates for Airlink Communication (AIRLINK) downward by 41% for FY25 and 36% for FY26 to Rs8.7/share and Rs13.7/share, respectively, due to a decline in mobile sales and higher borrowings.Decline in mobile sales attributed to high base effect from last year, extended mobile replacement cycle, and reduced consumer spending amid high inflation.AIRLINK's working capital under pressure due to weaker sales, leading to extended credit periods and increased borrowings.

Airlink Communication (AIRLINK) - Earnings Revised Down; "Buy Maintained"