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

<div><div><div><div><ul><li>TVS Motors Ltd (TVSL) Q1FY24 numbers missed ours and streets estimate. Revenue (2% miss) grew by 20%/9% YoY/QoQ led by higher sales volumes (up 5%/10% YoY/QoQ).</li><li>Revenue miss was led by a 2% miss on ASP which grew by 14% YoY on account of price hikes taken over last year, but stood down by 0.4% QoQ despite QoQ increase in volumes.</li><li>EBITDA grew by 27%/12% YoY/QoQ but missed ours and street’s estimate by 5% and 2.4%, mainly led by higher other and personal expenses which stood 8% and 3% ahead of our estimates. </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>

TVS Motors Ltd (TVSL) Q1FY24 numbers missed ours and streets estimate. Revenue (2% miss) grew by 20%/9% YoY/QoQ led by higher sales volumes (up 5%/10% YoY/QoQ).Revenue miss was led by a 2% miss on ASP which grew by 14% YoY on account of price hikes taken over last year, but stood down by 0.4% QoQ despite QoQ increase in volumes.EBITDA grew by 27%/12% YoY/QoQ but missed ours and street’s estimate by 5% and 2.4%, mainly led by higher other and personal expenses which stood 8% and 3% ahead of our estimates. 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 Motors - Overall Miss; But Growth Levers Intact!