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>TVS Motors Ltd. (TVSL) Q2FY24 numbers were largely in line with our Revenue and EBITDA estimates with a slight Beat on PAT.</li><li>Revenue (inline) grew by ~13% YoY/QoQ, both led by higher sales volumes (up ~5%/13% YoY/QoQ) and higher ASP due to price hikes during the year and a richer product mix.</li><li>EBITDA (inline) grew by ~22%/18% YoY/QoQ, mainly led by gross margin expansion and better product sales mix, partly offset by higher marketing expenses.</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>

TVS Motors Ltd. (TVSL) Q2FY24 numbers were largely in line with our Revenue and EBITDA estimates with a slight Beat on PAT.Revenue (inline) grew by ~13% YoY/QoQ, both led by higher sales volumes (up ~5%/13% YoY/QoQ) and higher ASP due to price hikes during the year and a richer product mix.EBITDA (inline) grew by ~22%/18% YoY/QoQ, mainly led by gross margin expansion and better product sales mix, partly offset by higher marketing expenses.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.

TVS Motor Co Ltd - Inline Q2; Exports Boost to Drive Growth!