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

<ul><li>Margin Resilience Despite Weak Agchem Cycle: Export revenue declined ~13% YoY to Rs 1,259 Cr due to continued weakness in the global agrochemical industry and delayed customer deliveries, while domestic revenue fell ~9% YoY to Rs 307 Cr amid inventory overhang, pricing pressure, and lower crop acreages.</li><li>However, domestic volumes grew ~3%, indicating underlying demand resilience.</li><li>The pharma business remained a bright spot, with ~23% YoY growth in Q4FY26, contributing ~8% to export revenues. </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>

Margin Resilience Despite Weak Agchem Cycle: Export revenue declined ~13% YoY to Rs 1,259 Cr due to continued weakness in the global agrochemical industry and delayed customer deliveries, while domestic revenue fell ~9% YoY to Rs 307 Cr amid inventory overhang, pricing pressure, and lower crop acreages.However, domestic volumes grew ~3%, indicating underlying demand resilience.The pharma business remained a bright spot, with ~23% YoY growth in Q4FY26, contributing ~8% to export revenues. 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.

PI Industries Ltd - Navigating the Downcycle While Building the Next Growth Curve

Pi Industries

PI Industries Ltd - Navigating the Downcycle While Building the Next Growth Curve