External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

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)

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

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>Campus Activewear (Campus) delivered a decent 9% YoY revenue growth, driven by 10% YoY volume growth.</li><li>However, the gross margin (GM) contracted 45bp YoY on account of RM inflation and non-BIS inventory liquidation.</li><li>EBITDA (11% miss) and PAT (15% miss) were adversely impacted by lower GM and higher advertisement and promotion (A&amp;P) spending.</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>

Campus Activewear (Campus) delivered a decent 9% YoY revenue growth, driven by 10% YoY volume growth.However, the gross margin (GM) contracted 45bp YoY on account of RM inflation and non-BIS inventory liquidation.EBITDA (11% miss) and PAT (15% miss) were adversely impacted by lower GM and higher advertisement and promotion (A&amp;P) spending.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.

Campus Activewear - Decent Revenue Print; Miss Due to Weaker Gross Margin