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>Sluggish Q1FY26: Q1 performance was impacted by a weak macro backdrop as volumes stood below expectations at 794 kt, down 7% QoQ, but up 10% YoY.</li><li>Softer volume growth was on account of i) volumes lost for 1 week in North India and the last 20 days of July in the Middle East (Dubai) due to geopolitical tensions, ii) early onset of monsoon, and iii) softer money supply at channel partners.</li><li>EBITDA/t missed consensus by 6% and stood at Rs 4,683/t, down 4% QoQ, but up 12% YoY, as the lower sales volume led to negative operating leverage and one-time notional expense of Rs 100/t related to ESOPs, which increased the employee costs in the quarter.</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>

Sluggish Q1FY26: Q1 performance was impacted by a weak macro backdrop as volumes stood below expectations at 794 kt, down 7% QoQ, but up 10% YoY.Softer volume growth was on account of i) volumes lost for 1 week in North India and the last 20 days of July in the Middle East (Dubai) due to geopolitical tensions, ii) early onset of monsoon, and iii) softer money supply at channel partners.EBITDA/t missed consensus by 6% and stood at Rs 4,683/t, down 4% QoQ, but up 12% YoY, as the lower sales volume led to negative operating leverage and one-time notional expense of Rs 100/t related to ESOPs, which increased the employee costs in the quarter.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 - Sluggish Q1; Growth to Pick Up in H2

Apl Apollo Tubes

APL Apollo Tubes Ltd - Sluggish Q1; Growth to Pick Up in H2