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>Stable Core and Cenexi Turnaround Drive Revenue Growth: Gland Pharma reported consolidated revenue of Rs 1,506 Cr in Q1FY26, marking a 7.4% YoY growth, in line with our estimates.</li><li>The base business (ex-Cenexi) grew by 2.7% YoY, while Cenexi delivered a strong turnaround, reporting 19.6% YoY growth, highlighting early signs of recovery and successful integration.</li><li>Cenexi Achieves EBITDA Breakeven: Cenexi reported Q1FY26 revenue of Rs 465 Cr, with a positive EBITDA of Rs 9 Cr and a margin of 2%. We expect Cenexi to deliver 5-6% Margins in FY26.</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>

Stable Core and Cenexi Turnaround Drive Revenue Growth: Gland Pharma reported consolidated revenue of Rs 1,506 Cr in Q1FY26, marking a 7.4% YoY growth, in line with our estimates.The base business (ex-Cenexi) grew by 2.7% YoY, while Cenexi delivered a strong turnaround, reporting 19.6% YoY growth, highlighting early signs of recovery and successful integration.Cenexi Achieves EBITDA Breakeven: Cenexi reported Q1FY26 revenue of Rs 465 Cr, with a positive EBITDA of Rs 9 Cr and a margin of 2%. We expect Cenexi to deliver 5-6% Margins in FY26.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.

Gland Pharma Ltd - Uptick in Margins; Strong Launch Momentum