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

<ul><li>Near-term pressure on EBITDA/t to ease gradually as steel prices stabilise: The company’s EBITDA/t stood at Rs 4,183/t, down 10% YoY due to certain one-off expenses in employee and other expenses.</li><li>Excluding these expenses, EBITDA/t would have been higher by Rs 150/t. In Q2FY25, EBITDA/t could remain under pressure as dealers are not in the restocking mode as steel prices continue to correct.</li><li>In FY25, the company targets to achieve flat EBITDA/t YoY. However, going ahead from FY26 onwards, multiple levers are present to increase EBITDA/t towards Rs 5,000/t.</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>

Near-term pressure on EBITDA/t to ease gradually as steel prices stabilise: The company’s EBITDA/t stood at Rs 4,183/t, down 10% YoY due to certain one-off expenses in employee and other expenses.Excluding these expenses, EBITDA/t would have been higher by Rs 150/t. In Q2FY25, EBITDA/t could remain under pressure as dealers are not in the restocking mode as steel prices continue to correct.In FY25, the company targets to achieve flat EBITDA/t YoY. However, going ahead from FY26 onwards, multiple levers are present to increase EBITDA/t towards Rs 5,000/t.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.

Apl Apollo Tubes Ltd - EBITDA/T Miss; Multiple Levers for Improvement Ahead