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>Bajaj reported a strong set of results in Q4FY24. Revenue stood largely in line with our estimates with a ~3% beat at Rs 11,178 Cr, up ~29.5% YoY (down ~5.5% QoQ) led by ~27.6%/19.2% volume YoY growth in domestic/exports market respectively.</li><li>ASP (~3.2% beat) grew by ~4.3%/6.2% YoY/QoQ. The YoY growth in the ASP was led by product premiumisation, higher sales of 3W in the product mix and a ramp-up in EV sales.</li><li>EBITDA grew by ~34.4% YoY (down ~5.5% QoQ) to Rs 2,306 Cr, a ~5.1% beat vs our estimates, led by better gross margins and lower employee costs. </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>

Bajaj reported a strong set of results in Q4FY24. Revenue stood largely in line with our estimates with a ~3% beat at Rs 11,178 Cr, up ~29.5% YoY (down ~5.5% QoQ) led by ~27.6%/19.2% volume YoY growth in domestic/exports market respectively.ASP (~3.2% beat) grew by ~4.3%/6.2% YoY/QoQ. The YoY growth in the ASP was led by product premiumisation, higher sales of 3W in the product mix and a ramp-up in EV sales.EBITDA grew by ~34.4% YoY (down ~5.5% QoQ) to Rs 2,306 Cr, a ~5.1% beat vs our estimates, led by better gross margins and lower employee costs. 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.

Bajaj Auto  - Strong Q4 Results: Positives Largely Factored in Rich Valuations

Bajaj Auto Ltd

Bajaj Auto - Strong Q4 Results: Positives Largely Factored in Rich Valuations