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

Steel Authority of India / Equity Bottom-Up

<ul><li>SAIL’s EBITDA/PAT missed ours and the street's estimates on account of the higher-than-expected employee and other expenses.</li><li>Revenue (2% miss, down 5% YoY) recovered by 16% QoQ led by steel sales volumes at 4.68MT which grew by 13% QoQ (down 1% YoY) and HRC prices which were up 5% QoQ (down 12% YoY).</li><li>EBITDA stood at Rs 2,924 Cr (down 33% YoY, up 41% QoQ) missed ours/consensus estimate by 22%/13%, led by higher employee and other expenses, which was only partially offset by lower RM costs.</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>

SAIL’s EBITDA/PAT missed ours and the street's estimates on account of the higher-than-expected employee and other expenses.Revenue (2% miss, down 5% YoY) recovered by 16% QoQ led by steel sales volumes at 4.68MT which grew by 13% QoQ (down 1% YoY) and HRC prices which were up 5% QoQ (down 12% YoY).EBITDA stood at Rs 2,924 Cr (down 33% YoY, up 41% QoQ) missed ours/consensus estimate by 22%/13%, led by higher employee and other expenses, which was only partially offset by lower RM costs.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.

SAIL - Decent Q4; Ambitious Sales Volume Target for FY24