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>Resilient Performance Amid Transitional Headwinds: Britannia delivered a moderate 4.1% YoY revenue growth in Q2FY26, aided by stable raw material prices and continued operational efficiencies across its supply chain.</li><li>The recent GST rate cut, covering nearly 85% of the portfolio, is expected to support volume growth over the medium term, although temporary trade and logistics disruptions impacted near-term performance.</li><li>Management remains committed to sustaining volume-led growth through enhanced distribution reach, new product launches, and strategic investments in core and adjacent categories.</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>

Resilient Performance Amid Transitional Headwinds: Britannia delivered a moderate 4.1% YoY revenue growth in Q2FY26, aided by stable raw material prices and continued operational efficiencies across its supply chain.The recent GST rate cut, covering nearly 85% of the portfolio, is expected to support volume growth over the medium term, although temporary trade and logistics disruptions impacted near-term performance.Management remains committed to sustaining volume-led growth through enhanced distribution reach, new product launches, and strategic investments in core and adjacent categories.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.

Britannia Industries Ltd - Resilient Performance with Margins Expansion; Maintain BUY