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>The company’s revenue grew 7% YoY as it regained its lost market share and posted strong growth in the open (peak season) with a volume growth of 23%.</li><li>Realization, however, degrew by 13% owing to price cuts. Its gross margins stood at 57.9% (up 897bps YoY) as raw material prices remain stable as well as due to strong volume growth.</li><li>EBITDA margins stood at 12.8%, up 392bps YoY owing to strong operating leverage and cost efficiencies. </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>

The company’s revenue grew 7% YoY as it regained its lost market share and posted strong growth in the open (peak season) with a volume growth of 23%.Realization, however, degrew by 13% owing to price cuts. Its gross margins stood at 57.9% (up 897bps YoY) as raw material prices remain stable as well as due to strong volume growth.EBITDA margins stood at 12.8%, up 392bps YoY owing to strong operating leverage and cost efficiencies. 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