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

<div><div><div><div><ul><li>Financial Performance: CCL Products’ consolidated revenue for Q1FY24 stood at Rs 655 Cr, reporting a growth of 29% YoY (20% volume growth).</li><li>This was, however, below our estimates. Gross Margins stood at 39.8.1%, down 157bps YoY, while EBITDA grew 20% YoY (in line with volume growth).</li><li>EBITDA Margins at 16.2% were down 115bps YoY owing to higher Opex and raw material prices. Interest expenses increased 191% YoY (40% QoQ) to Rs 15 Cr on account of higher interest costs and an increase in working capital requirement.</li></ul></div></div></div></div><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>

Financial Performance: CCL Products’ consolidated revenue for Q1FY24 stood at Rs 655 Cr, reporting a growth of 29% YoY (20% volume growth).This was, however, below our estimates. Gross Margins stood at 39.8.1%, down 157bps YoY, while EBITDA grew 20% YoY (in line with volume growth).EBITDA Margins at 16.2% were down 115bps YoY owing to higher Opex and raw material prices. Interest expenses increased 191% YoY (40% QoQ) to Rs 15 Cr on account of higher interest costs and an increase in working capital requirement.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.

CCL Products Ltd - Long-Term Story Intact, Maintain BUY

CCL Products India

CCL Products Ltd - Long-Term Story Intact, Maintain BUY