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

<div><div><div><div><ul><li>Revenue grew 11% YoY as the company regained its lost market share and posted strong growth in open (peak season) and close footwear.</li><li>Its gross margins stood at 57.4% (up 326bps YoY) as raw material prices remain stable and strong volume growth.</li><li>EBITDA at 14.6% was up 165bps YoY, suggesting gradual recovery owing to strong operating leverage and stable raw material prices. </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>

Revenue grew 11% YoY as the company regained its lost market share and posted strong growth in open (peak season) and close footwear.Its gross margins stood at 57.4% (up 326bps YoY) as raw material prices remain stable and strong volume growth.EBITDA at 14.6% was up 165bps YoY, suggesting gradual recovery owing to strong operating leverage and stable raw material prices. 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.

Relaxo Footwears Ltd. - Recovery on Cards: Maintain BUY