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. 

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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>Industry Outlook: Automotive Axles' topline dropped 15.4% YoY in Q2FY25, mainly due to a 12.9% dip in MHCV industry volumes (with anchor customer Ashok Leyland experiencing a notable 21.6% pullback) and softer steel prices which was partially offset by higher exports, expansion in aftermarket sales, and the fulfilment of backlog orders.</li><li>Management expects industry volumes to remain steady for FY25 (with H2 projected to be similar or slightly better than H1) and anticipates a gradual recovery in FY26.</li><li>New product launches: With the introduction of new axle products for goods carriers (MS185, MS177) and buses, the company aims to increase its business share with Ashok Leyland to over 65% (up from the current 63%).</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>

Industry Outlook: Automotive Axles' topline dropped 15.4% YoY in Q2FY25, mainly due to a 12.9% dip in MHCV industry volumes (with anchor customer Ashok Leyland experiencing a notable 21.6% pullback) and softer steel prices which was partially offset by higher exports, expansion in aftermarket sales, and the fulfilment of backlog orders.Management expects industry volumes to remain steady for FY25 (with H2 projected to be similar or slightly better than H1) and anticipates a gradual recovery in FY26.New product launches: With the introduction of new axle products for goods carriers (MS185, MS177) and buses, the company aims to increase its business share with Ashok Leyland to over 65% (up from the current 63%).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.

Automotive Axles Ltd - Strong Financials; Robust Long-Term Potential in the MHCV Segment